It sucks going back like that, but I suppose it’s gotta take a break some time ;) Have to take it like a man when most your money’s in the market – all part of the game.
We had some decreases in other categories as well – not related to the stock market – but they can all be explained for ;) The one area I WAS pretty happy with was regarding our mortgages. While $160 towards our principal isn’t a crap ton of money, it does decrease or future debt and nasty interest! I just wish I had the balls to throw in $400 or $500 a month, but you all know my 401k & Roth are my first priorities. Gotta hit that $1 million mark, baby!
January 2010 Net Worth break down:
CASH SAVINGS (-$346.05): Yup, we’re starting to burn through a little cash now that I’m gearing up for 90% contributions to my 401(k). It doesn’t accurately reflect yet into these calculations, but you’ll be seeing some nice jumps in the near future ;) That also means, however, that I’ll be pulling from my savings account every pay period for a while to “pay myself” until I max out and can start taking 100% paychecks again. I’m not bad ass enough to live off of $69 yet. Haha…
EMERGENCY FUND ($0.00): Same $10,000 this month as it was last month, and the month before, and the month before that. In fact, I think we’ve had this $10k for almost a year and a half now :) Let’s hope we keep it that way!
ROTH & Traditional IRAs (-$277.34): Same story here as with the 401k drop-ness. The markets are losing momentum again and taking the country’s accounts down with it. Until the 401(k) is maxed and my savings gets a healthy does of cash injection again, we’ll be holding tight on our IRAs. I DO plan on maxing out the Mrs and I’s Roths this year, but it just won’t get done until mid-to-later this year. One step at a time.
401(k)s (-$5,173.26): Down down down in a burnin’ ring of fire! That’s how Mr. Cash likes it anyways ;) But interestingly enough, as I write this up the market is on a rally and I’m seeing some nice increases! We’ll see if it carries on throughout the month though. In the meantime, I’ll be continuing to push 90% of my salary here so I can max out and get them as cheap as I hopefully can. Gotta get that employee match and hit my #1 goal for the year!
AUTOS WORTH (kbb) (-$150.00): My Caddy’s still alive! haha…I still have this red “scary” light on but I’ve been told it’s “just” my suspension. I could get ‘er fixed for a nice little sum, but I’m gonna see what happens if I don’t :) If it gets bad I’ll try and find a deal, but I really don’t think it’s going to last many more years anyways. I hope it does though!!! Love my baby. Here’s where our car values stand right now (the decrease this month was from Toyota):
- Pimp Daddy Caddy: $2,970.00
- Gas Ticklin’ Toyota: $8,985.00
HOME VALUE (Realtor) ($0.00): This will remain @ $300k (the price our realtor set it at) until I hit him up later for another review. He’s the master in our particular neighborhood, and has been selling (and living) in this area for 20+ years. I keep an eye on Zillow & Redfin.com as well, but they fluctuate so much that I never can tell what’s real and what’s hype.
CREDIT CARDS ($0.00): Still at Zero! I just really don’t want to take this out of the equation as it makes me so damn happy looking at it. So we continue leaving it in for now…maybe I’ll go crazy and put something on it! haha…only if it’s a benz. Or a trip around the world.
MORTGAGES (-$162.98): Another excellent month knocking down some principal! We’re still screwed w/ the refinancing option, but it doesn’t mean we can’t pay parts off bit by bit. Every dollar against the principal cuts down on your interest payments! Here’s the breakdown:
- Mortgage #1: $286,818.64 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,559.10 – Maxed out HELOC w/ 2.8% interest.
Here’s to a better February!
*My budget has now been updated.
**And so have my sidebars. And my excitement for Jersey Shore II.
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my former $$$ clients
If you're not a spreadsheet guy and prefer something more automated (which is fine, whatever gets you to take action), you can try your hand with a free Personal Capital account.
Personal Capital is an amazing tool that connects with your bank & investment accounts to give you an automated way to track your net worth. You'll get a crystal clear picture of how your spending and investments affect your financial goals (early retirement?), and it's super easy to use.
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(There's also Mint.com too btw which is also free and automated, but its more focused on day-to-day budgeting rather than long-term net worth building)