net worth update

Net Worth Update for September 2018

September’s Net Worth is a slight increase over August.  This is not the 5 digit increase we saw at the end of August.  The stock market had a lackluster month and our expenses from the month were high.

I’ve always enjoyed tracking our financial picture.  Sharing our net worth allows me to share progress in our overall financial picture.  My hope is that month after month I’m able to paint a picture of our finances.

Numbers were taken out of YNAB.

August 31st, 2018 to September 30th, 2018

Debts

  • Debt reduced from $279,695.24 to $278,354.81
  • This was a reduction of ($1,340.43) in debt.
  • Mortgage debt reduced ($1,358.96) to a total debt of $257,018.30.
  • Credit Card debt increased slightly to a total debt of $1,091.23.  This is to do date balance and not statement balance.  So we expect to see some carryover from week to week.
  • Automobile debt reduced ($746.44) to a total debt of $20,195.29.  I have 27 months left on this loan without increasing payments.

Assets

  • Assets increased from $709,687.25 to $711,792.55.
  • This is a total increase of $2,105.30.
  • Cash accounts increased $738.78 to a total of $11,404.34.  Increasing this category is priority #1 for my upcoming financial plan.
  • Home asset increased $1,658.00 to a total of $414,204.00.  I use Zillow.com for tracking this.  I believe it’s estimated home value is accurate enough to be a good trackable asset value.
  • 529 plans increased $230.03 to a total of $54,322.52.  Our children are 4 and 9.
  • Retirement Investment accounts decreased $208.52 to a total of $186,882.18.  No contributions again this month while we get our savings back in order.  Markets were pretty much flat.
  • Cryptocurrency assets decreased ($657.50) to a total of $9,925.00.  This marks 2 months of declines in value.  Swings in Bitcoin’s value are to be expected.
  • Automobile Assets increased $320.00 to a total of $35,030.00.  I use the myCarFax app for tracking vehicle value.  I use current trade-in value.  I believe the month’s increase is likely the result of steel and aluminum tariffs at work.  If steel is more expensive to purchase it will drive new car prices up which in turn should make used car prices increase.

Summary

  • A total increase of $3,442.40 or 0.8% for a new Net Worth of $433,437.74.

 

What I’m Not Tracking (at least not yet)

  • Pensions – Both Erica and I have pensions.  Currently, they both hold cash values.  Erica’s is a defined benefit plan through the Teacher Retirement System of Texas.  Upon retirement, it will provide a pension payment based upon years of service and retirement age.  My pension is a defined contribution account.  This is a new feature for our company and I’m not certain how the payout works.  I’ll need to study it more and report back.
  • HSA – We utilize an HSA for healthcare spending.  We do not yet make use of it for a tax-deferred investment.  I will likely add this to the asset tracking list when I begin making contributions specifically for investment.
  • Physical assets other than our house and Erica’s car.
  • My car, a 2017 Chevy Volt, is a lease.  I’m not tracking the value of the car or the liability of the lease.

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