A little bit later than usual this month, we’ve been busy!
As of July 18, 2016, we are $312,126.26 in debt with a mortgage. We currently have $980,049.02 in assets. Our investment accounts are at $559,435.67. Our Net Worth is $667,922.76, up from $646,555.06 in June (3.3% increase)
We’ve finally gotten all of Dad’s paycheck woes straightened out. The local taxes came out (perfect timing too – no more estimated taxes!), the HSA amount was applied properly, the daycare FSA amounts were all straightened out as well. He finally got through to an HR person, who called me, and we worked out the details. Turns out *no one* at his company got money into their 401(k) in May – he’s just the first one to notice. The 401(k) provider sent the check back to the company (they haven’t figured out why last I talked to them, and I will probably never know), so nothing was deposited. That’s all been straightened out as well. I’m just really surprised that Dad seemed to be the only one to notice… (OK, so maybe I am a bit anal about the money).
We are going to pay off the RAV this year (barring any emergencies), and in early December, I will be able to mark that as paid off! I’m still reconciling the emotional hit of paying it off against the fact that it’s “free” money, but we both agree that we’d like to only have one car payment. I could pay it off “right now”, but we’re also saving money to hopefully put in our Roths at the end of the year – this might be the last year we’re able to.
Dad’s paycheck is much larger in the take-home pay department, which has been nice for us, and we’re still putting aside almost as much to our retirement accounts as we were, it’s just not all tax-advantaged. Again, you’re not seeing a lot in the debt-reduction area as the cars are 0% and the rest is our mortgage, we’re focusing on other items. You might see another dip into the Line of Credit to complete our deck, but hopefully not. I want to get that done before next spring.
Debt (in the order we’re paying it down):
Line of Credit (9.75%): $0 (-4500.00)
- Car loan – RAV4 (0%): $4,486.65 (-897.33)
- Car loan 2 – Camry (0%): $21,086.40 (-439.30)
- Mortgage (3.875%): $286,553.21 (-498.20)
Total paid off in June: $1,834.83