We may earn money or products from the companies mentioned in this post.
Because Matthew and I have big goals.
Okay, okay, the longer answer is we want to pay off our debt, and have the freedom to retire early. Tracking our net worth each month is a great way to see if we’re on track, keep us accountable, and hopefully it inspires at least one person to do the same (or you can just be nosy and peep our net worth, that’s okay too!).
Other Net Worth Reports:
Roth IRA (Brittney):
Disney Stock (1 Share):
Matthew’s uncle got him a share of Disney stock when he was a baby. We haven’t quite gotten around to adding the stock to his investment account, which is why it’s on it’s own line. Last month around this time it was worth about $112.59 so it did increase a little bit.
Roth IRA (Matthew)
Total Assets: $152,591.31
Debt & Liabilities:
Best Buy Store Card:
Last moth the balance was $1,438.16
Matthew opened up a Best Buy store card, and purchased a washer, a dryer, and a TV for our new condo. There’s no interest if the balance is paid off within 18 months. We’ve been paying $150ish/month on the card.
Credit Cards (Brittney):
Last month’s balance: $2,643.82
I thought I was making good progress on paying these down, but then a few of my cards got hit with $85+ “yearly fees”. My fault for not reading the fine print. Oooof!
Student Loan (Brittney):
Last month’s balance: $29,792.73
This is for my few years I spent messing around in college (I didn’t get a degree). I’m currently in forbearance, and payments will officially begin in October (2019).
Last month’s balance: $123,892.73
This month I kind of dug into everything and saw that out of our $890~ payment, only a small portion was actually going towards the principal. It was just shocking to see.
Total Liabilities: -$157,026.10
How We Did This Month:
We paid a small bit towards our credit cards (not as much as I would have liked), and out investments did increase a bit (thanks to Matthew contributing to his 401k). We did have an increase of 15% in our net worth because of these things – which is great don’t get me wrong, but I’d like to do even better this month.
This month I’d like to pay off more of the credit card debt (at least $150), and I’d like for us to contribute $300-$400 more to Matthew’s Roth IRA before we start tackling the credit card debt.
One of our main goals is having a mini-emergency fund set up. I think $1000 is a good starting point, then we’d like to pay off our high interest debt (this year), increase our emergency fund, pay off our remaining debt, then start investing more so we can reach financial independence.