Detailed Financial Picture – April 2013

March’s Numbers

As of April 9, 2013, we are $469,922.50 in debt (that includes the mortgage).  Without the mortgage, we’re at $45,405.71 in debt.  This includes credit cards, student loans, lines of credit and an auto loan.  We currently have $924,691.81 in assets (including our house).  Our retirement accounts are at $279,886.34.  Our Net Worth is $454,769.31 (includes house and mortgage), down from $455,341.70 last month (0.13% decrease).

Our overall net worth decreased a little this month as I updated our car values through KBB.  My car lost about 5k in value (considering it’s a 2012 model, I think that’s pretty good), while our house lost some value as well – according to Zillow anyway.  I realize that it’s not perfect, but it should be in the ballpark, and we have no intentions of selling the house anytime soon, so I’m too lazy to run the comparables 🙂

Our retirement accounts did OK this month (up 1.77%); I changed my withholding to 5% in a 401(k) and 1% in a 401(k) Roth account, since we make too much to contribute to a Roth otherwise.  It lets us hedge our bets on taxes in retirement.  But we’ve evened out our new paychecks, so I have a better idea of how much money is coming in.

Our electric bill has increased by about $40-$50/mth to run the humidifier, but we think it’s worth it, so we’ll keep paying it.  And it’s almost 85F here today, so we’ve had the heat pump turned off the last 3 days and the windows open.  We probably won’t turn on the heat part of the system again until next season.  Once humidity levels start to climb though, the A/C will be on.

I got rid of a lot of things to goodwill, and not making too many.  Most of what I have left on Amazon are Japanese language items, which will likely sell better towards the beginning of the school semester, so not too many things leaving by way of Amazon.

Dad had an extra paycheck in March, so I was able to really pay down some of our debt.  And I filed an FSA claim for Daughter Person’s daycare and got a nice fat check for about $1400 to put towards debt payment as well.

I also sent more money to Chase – I think they’re skirting the new CARD rules on applying payments to the highest interest rate balance first.  The annual fee and interest end up being charged at the stated interest rate of 12.99%.  You’re supposed to overpay the minimum for them to apply it to the highest interest – I did last month, but not enough to make sure (only rounded up to $100 from a min payment of $96).  This month, I paid $100 + the balance at that rate: $93.70, so I expect that balance to be gone on the next statement – and if it isn’t, I’m going to be making some phone calls.

We’re really close to paying off our line of credit, and I’m most definitely getting excited at the prospect.  It will be paid off in May, and then one of the student loans is next on the target list.

Debt (in the order we’re paying it down):

  • Line of credit (8.75%): $1,300 (-4,600.00)
  • Student loans (aggregated 6.55%):  $13,766.70  (-0) <- auto-debit hasn’t happened yet
  • Chase (4.99% for life): $6,449.01  (-167.39)
  • Car loan (0%): $23,970.00 (-490.00)
  • Mortgage (4.125%): $424,516.79 (-635.44)

Total paid off in March: $5,892.83

3 thoughts on “Detailed Financial Picture – April 2013

  1. Mr. 1500

    Holy cow, those are some big numbers! If you don’t mind me asking, do you live in an expensive part of the world?

    Thanks for sharing the numbers, I’l always fascinated to see how others live and play.

    Reply
    1. Mom

      We live in the Washington, DC metro area (Northern Virginia), so yeah, it’s pretty expensive. I think San Francisco and New York City are the only metro areas that are more expensive than here. A lot of the debt (other than our house) is from previous stupidity which doesn’t have much to do with where we live 🙂

      Reply
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