Detailed Financial Picture – July 2014

June’s Numbers

As of July 7, 2014, we are $430,877.74 in debt (that includes the mortgage).  Without the mortgage, we’re at $16,500 in debt.  That’s our auto loan.  We currently have $1,057,463.16 in assets (including our house).  Our retirement accounts are at $397,055.28. Our Net Worth is $626,585.42 (includes house and mortgage), up from $608,588.72 last month (2.96% increase).

The markets did really well for us this month – a 4.48% increase from last month.  I still don’t have the money from my paid out vacation.  I got the “pay stub” for it, but not the check.  A co-worker has gotten his check, so I should be getting it shortly – ~$7900, almost all of which is going to the emergency fund.   That’s not counted in our assets yet (since it’s not in the bank account).  I still haven’t been able to close out my 401(k) and roll it over to Fidelity – starting to get a little pissy about that actually.  I’d rather not be paying high expense ratios longer than I need to.

We’re expecting to spend down the e-fund again over the next few months (and/or probably borrow from our line of credit) as we get our house ready to sell and actually move.  We have two realtors (referred by USAA) coming by the house this week to “interview” for selling our place.  We’re hoping we can get at least 100k out of it after all the taxes, fees, etc are paid.  The sale will bring our net worth down because of the selling fees, but that’s OK – it’ll realign itself with “reality” as far as our house is worth and what we owe on it.

All debt except our car loan (at 0%) is gone – I paid a bit extra to it this month to make the numbers nice ($610 vs $490), but we won’t be paying much extra to it over the next few months.  Once we settle down with our new mortgage payment, we’ll re-evaluate what we can pay towards it every month.   We’re hoping to find a place where the mortgage payment is at least $1,000 less per month than we pay now – and it’s looking like that won’t be a problem.

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

  • Line of credit (8.75%): $0.00
  • Chase (4.99% for life): $ 0.00 
  • Student loans (aggregated 4.21%):  $0.00 
  • Car loan (0%): $16,500 (-610.00)
  • Mortgage (4.125%): $ 414,377.74 (-709.86)

Total paid off in June: $1,319.86

9 thoughts on “Detailed Financial Picture – July 2014

  1. evenstevenmoney

    Sounds like you have your finances in order. Nice net worth going for you as well, congrats on moving on up the ladder in net worth.

    Reply
    1. Mom Post author

      Not looking forward to all the hassle and expenses of moving though! I’m hoping to deduct a lot of it, so saving all of my receipts. Once we’re settled, we’ll be in a better position to put more money away 🙂

      Reply
  2. Davey Pockets

    Awesome work. Good to see 3 of your 5 crossed off already. Is your car loan rate 0%? If so how did you manage that? Sounds like a pretty sweet deal. Good luck to you.

    Reply
    1. Mom Post author

      Our car loan is at 0% – 5 year loan from Toyota (new car). We went in to the dealer with a USAA pre-approved loan at 3.something %, but Toyota did better, so that’s what we went with.

      Reply
    1. Mom Post author

      One of them (the mortgage) will hopefully be gone in the near future! O course, we’ll replace it with another (smaller) mortgage, but it will be smaller!

      Reply
  3. Pingback: Detailed Financial Picture - August 2014 | Three is Plenty

Tell me your thoughts