Detailed Financial Picture – August 2013

July’s Numbers

As of August 7, 2013, we are $462,205.24 in debt (that includes the mortgage).  Without the mortgage, we’re at $40,324.11 in debt.  This includes a credit card, student loans, and an auto loan.  We currently have $959,190.24 in assets (including our house).  Our retirement accounts are at $311,342.61.  Our Net Worth is $496,985.00 (includes house and mortgage), up from $474,731.14 last month (4.69% increase).

This month’s numbers are estimates on the retirement accounts, since my company’s 401(k) provider has changed, and I don’t have access to the new account yet (we’re supposed to get our initial username/password in the mail this week).  The last balance I have for the account is from July 30, missing the nice run up on the 1st and my July contributions.  They’ve assured us that our money remained invested during the transfer, but I can’t verify that.  The plus side is that we’re moving from the crappy Mass Mutual to an ING run plan with slightly better fund selection.  Dad’s former company used ING and I liked their interface.  So, the value in our investment accounts is lower than I know it is, but since I don’t know what the current value is, I’m using the last known good value.  Next month’s numbers should show the actual value.

Holey Moley did the stock market run up really help our investments (and net worth) – they were up 4.77% this month, the largest increase to-date, bringing them to a 21.13% increase for this year (so-far).  That’s not a bad return (it’s also not calculated completely accurately, but it’s close enough).

Dad cashed in several matured savings bonds last month and “donated” $600 to the debt, and I cashed one in on the 1st that just matured.  I took $150 for myself, and the rest went to the general fund – most of it went towards paying off the Chase card.

We still haven’t gotten HOA approval for fixing our wood trim yet.  I’ve tried calling the management company twice now, but I only get someone’s voicemail – maybe she’s on vacation (her message didn’t say).  But we have a *lot* of money sitting in our savings account earning a piddly amount of interest, and it’s making me antsy not doing anything for us.

I’m going to set ourselves a mini goal for the rest of the year.  Our assets should be at least $1,000,000, and our net worth should be at least $500,000.  I know this is somewhat subjective because if the stock market decides to go kaput, so will this goal.  But we’re going to keep chipping away at debt and contributing to our investments no matter what happens.

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

  • Line of credit (8.75%): $0.00
  • Chase (4.99% for life): $ 5,253.99 (-554.45)
  • Student loans (aggregated 6.55%):  $13,060.12 (-143.84)
  • Car loan (0%): $22,010.00 (-490.00)
  • Mortgage (4.125%): $ 421,881.13  (-662.31)

Total paid off in July: $1,850.60

3 thoughts on “Detailed Financial Picture – August 2013

  1. cashrebel

    Wow, looks like you’re making some solid progress on that debt. Way to go! My portfolio is looking a little bloated as well. The stock market is just loving all this Fed bond buying I guess.

    1. Mom Post author

      Unfortunately, most of our debt reduction this month was minimum payments :(. We’re saving up to pay “cash” for replacing all the wood trim and gutters on the house, so most of our “extra” has gone to that. I’m looking forward to next month: Dad’s getting an extra paycheck this month, so we’ll have more to throw at our debt. As for the stock market, given the last few days, I think the run up has come back down a bit. Thanks for commenting!

  2. Pingback: Detailed Financial Picture - September 2013 | Three is Plenty

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