October Net Worth Update

Hello, blogosphere! Another peek into all the money we owe 🙂

You’ll see that we made huge strides in the CC debt from last month – that is because a large chunk of it was due to work travel, and my company reimbursed me just after the first of the month. However, I feel good about the personal progress too! About $1600 of it was work related…the rest of the jump is the Boomerang Kids hustlin’.

I’ve never explained my chart below, so let’s take a quick minute to look at it. We started monthly tracking in November, 2012 with $35k of student loans, $10k on our car, and some small CC debt from travels. I keep that column in these updates so that you can compare against our last month’s numbers, but also see the progress from Day 1! Or at least Day 1 of when we started tracking…before that is a rough estimate, but I’d guess we started at $60k when we got married in August 2011. I keep that $60k amount consistent across the bottom, so we can see the percentage of debt we’ve paid off, as well as where our net worth sits. At the very bottom is our mortgage info, but that’s not included in the net worth figure. It’s just fun to see the remaining mortgage number tick down, along with the rest of those dang loans.

In other good news is I’ll be receiving my quarterly bonus check this month – so hopefully November’s update is even better! The goal is to abolish those credit cards once and for all, and maybeeee get the Great Lakes loan completely paid off as well. That’s our highest interest student loan, so knocking it off would feel AWESOME! Let’s see how close we can come 🙂

ASSETS 11/1/2012 9/1/2014 10/1/2014
Checking $2,832.88  $      500.00  $      500.00
Savings $804.57  $   1,000.00  $   1,000.00
401k $4,634.25  $ 14,970.13  $ 14,556.00
Total assets $8,271.70 $16,470.13 $16,056.00
DEBTS 11/1/2012 9/1/2014 10/1/2014
Britt’s car ($9,377.87) $0.00 $0.00
Delta card ($721.02) ($1,920.00) ($1,900.00)
Costco card ($179.04) $0.00 $0.00
Banana Republic card ($727.00) $0.00
Chase ($519.03) ($2,604.00) ($400.00)
Great Lakes 1 ($3,889.00) ($1,342.00) ($1,229.00)
Firstmark 1 ($3,373.86) ($2,338.00) ($2,296.00)
Firstmark 2 ($4,538.64) ($3,247.00) ($3,189.00)
Firstmark 3 ($5,650.64) ($4,079.00) ($4,006.00)
Great Lakes/ACS ($6,728.30) ($5,232.00) ($5,150.00)
Add rows as needed
Total debts ($34,977.40) ($21,489.00) ($18,170.00)
NET WORTH ($26,705.70) ($5,018.87) ($2,114.00)
Starting debt ($60,000.00) ($60,000.00) ($60,000.00)
Total debt paid off $25,022.60 $38,511.00 $41,830.00
Percentage of debt paid off 41.70% 64.19% 69.72%
Home value (estimated) $210,000.00  $ 210,000.00
Remaining mortgage $194,785.00  $ 193,917.00
Potential equity $15,215.00  $   16,083.00

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