Do you think this was what Johnny Cash was singing about back in the day? Our net worths tied to a dropping stock market? ;)
Might as well have, the market’s crazy these days man. But as I say every month here, there are plenty of times when it goes up up UP too! Just all a part of the investing game…and unfortunately I’m back to waiting on 401(k) deposits that still haven’t hit my account yet. Too convoluted to post why that is at the moment, but if you see a post in the future that reads “YES! ALL MAXED OUT AND READY TO ROLL!” you’ll know they hit ;) Gives me something to look forward to at least!
Other than our investments going downhill though, everything else was pretty much on par. We lost some cash this month due to some stupid house and cat and car troubles brewing, but it hasn’t set us back too much. Oh, and of course we had our 10-day Eurotrip hit too! It ended at the end of May, but the expenses trickled in after and caught up to us in early June….almost forgot about that ;) Here’s how the rest broke down last month…
Net Worth break down: June, 2010
CASH SAVINGS (-$231.82): As I mentioned above, too many expenses came in this month and took away from our usual savings. Kinda stung a little bit, but we’ve been saving champions lately so 1 month down won’t hurt us in the overall scheme of things. As long as nothing major comes along…
EMERGENCY FUND ($0.00): 2 years in a row holding down $10Gs! No plans on touching this anytime soon….of course, unless the unforeseen is seen ;)
ROTH & TRADITIONAL IRAs (-$725.40): Not a penny has been invested this year in either of our accounts, but that’ll soon be changing. I plan on unloading $5k into my Roth all in one sitting this month, and then moving onto the Mrs’ Roth soon after. We’ll also be converting the last of her Traditionals over into her Roth to get everything finally consolidated…and earning tax-free returns! (minus the conversion taxes of course)
401(k)s (-$6,316.26): Operation Max Out my 401(k) has actually come to a close here, but you won’t hear any cheering from me yet until I see the money physically into my accounts. Again though, can’t divulge the situation here on the blog as much as I’d love to.
AUTOS WORTH (kbb) (+$350.00): So you know how this goes up, and down, and up, and then down, and then back up again over the months? Well, I could be wrong, but what I think is happening is that I forget to choose “automatic” transmission over “manual” sometimes – thus changing it by a few hundred. Either that or there’s a sudden demand for Toyota’s every other month. Orrrrr maybe now that the whole brake situation has calmed down, all the values when back up? Who knows…here’s what KBB is saying they’re worth now though:
- Pimp Daddy Caddy: $2,895.00
- Gas Ticklin’ Toyota: $9,450.00
HOME VALUE (Realtor) ($0.00): Still @ $300k as our realtor set it at a while back. Although you’ll be happy to know that our neighbor’s house house had an offer of $297k the other week! They ended up taking it off the market, but still – that means people see roughly a $300k value in it :) I’ll take it!
CREDIT CARDS ($0.00): Two months in a row, baby! Should stay that way for a bit too.
MORTGAGES (-$9.57): Purely accidental here – haven’t paid a dime extra toward our mortgages in the past few months. I keep saying I will, but I’d rather keep pumping it into our savings until my job situation gets straightened out. I can always pay into my mortgage, but I can’t always get it back! Haha… Here’s how they break down:
- Mortgage #1: $286,818.64 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,549.41 – Maxed out HELOC w/ 2.8% interest.
Finale. Nothing to write home about, but hey – when it’s out of your control it’s out of your control! The thing I’m realizing more and more over the years is that time cures everything. We’ll have ups and downs and spurts and dips, but as long as you’re pushing forward with your master plan, everything will eventually come together :) We just work as hard as we can and keep on saving and spending less, and over the months we’ll reach our goals. One step at a time, baby.
Here’s to an excellent July! Hope you all did better than we did this month.
- 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)