The first quarter of 2018 is complete and we experienced the first drop in our net worth for the year. We anticipated this sooner or later. The market will correct and this will not surprise us when it arrives.
~ Warren Buffett
Our current net worth dropped back near where it was last December. We are down 9.41% from last month, but up 11.62% from March of 2017. It’s crazy how much the market can influence your net worth when this is where your money is mostly invested. No matter, our current goal is to pay down debt while increasing our investments regardless of the market fluctuations. Here is our current breakdown.
|NET WORTH: 2018-03-01|
|Cash Back/Gift Cards||$1,620.74||-6.7%|
|Cars & Boat||$47,486.00||-2.5%|
|TOTAL NET WORTH||$363,393.75||-9.41%|
As a reminder, we want our Assets and overall Net Worth to increase and our Liabilities to decrease. Let’s take a look, shall we?
This is an area we struggled with last year, but are slowly rebuilding this year. We have a small Emergency Fund saved of no less than $4,500 that earns 4% interest APY. I also began socking money away in our Synchrony High Yield Savings account at 1.5% APY. Now that Dr. SoS’s practice is building steadily we will pay off more debt and increase our cash.
Cash Back/Gift Cards
This would have gone up except one of our credit cards forced us to take a $222.77 cash rebate, which ended up in our Cash Savings i.e. my wallet. Excluding that we were really up $106.37 for the month.
Our brokerage and crypto accounts took a big hit this month. We knew the Ethereum was a long shot and we are going to hold it for the long haul. We will not suffer a loss unless we sell in either account, but it does sting when it is down $3,899.71 total in these two accounts.
Here is where we took our biggest hit. All of our stocks were down to the tune of $33,256.26. Ouch! That’s okay, we are not retiring tomorrow, so this reduction is only temporary in our minds.
Even this account took a loss of $2.89 even though we put $200 into the account this month.
As we mentioned, we are leaving our home value at $303,000 until July when we will reevaluate it. Our mortgage company keeps on providing more and more information. Now that there are so many numbers to track, let’s view them in a table. Xome provides all these numbers except the Zillow Home Estimate. The first two numbers are from our zip code, while the remaining numbers are just from homes in our small town.
|Xome Home Estimate||$317,893|
|Zillow Home Estimate||$297,913|
|Average Home Estimate||$307,903|
|Median List Price||$350,000|
|Average Days on Market||85|
|Median Price per Sq Ft||118|
|Houses for Sale||37|
|Median Sold Price||$213,500|
|List to Sell Ratio||97.70%|
Cars & Boat
Market goes down, and older car values go up. Dr. SoS’s and our youngest son’s car went up by a total of $90. Unfortunately, my late-model vehicle went down in value $1,313.
We neglected to pay off the credit cards before the end of the month. Therefore, we had a substantial increase in our total balance. We usually pay off the cards bi-weekly. This gives us plenty of time should some unexpected expense arrives so we can either earn a bit more to pay the card off or use our Emergency Fund. The only lingering balance we have is $2,000 at 0% interest. We pay $250 per month on the balance and will have it paid off six months before it is due. We debate if we should just pay it off and lump the $250 into paying off our HELOC. We may do that or pay down on the HELOC first and then lump it in when we finish paying it off this November.
Only 34 payments or 2 years 10 months to go. This loan is also at 0%, but again, we recently debated paying it off early to free up the $600 per month payment.
HELOC (Home Equity Line Of Credit)
Not much to see here move along. This is our largest debt and the next one we are focusing our attention. We would love to see this one paid off this year. I believe we can do it, so as my Japanese pen pal says,『がんばりましょう』, which translated means “Let’s do our best together.” The letters spell Ga-n-ba-ri-ma-sho-u in Romaji or pseudo-phonetically pronounced Gahn-bahree-mah-show.
We are down to 128 more payments or 10 years 8 months to go. I have a distinct feeling that this time will go by faster than we think it will.
We decided to pay off Mr. SoS’s student loans just as soon as we received our tax refund. That means this category will see a nice drop next month!
As of the first day of March 2018, we have a net worth of $363,393.75 down 9.41% from the February total of $401,144.03 and up 11.62% from our March 2017 net worth of $325,573.11. This puts us within the top 41% at 224/536 bloggers on the Rockstar Finance Directory Net Worth Tracker.
If you have any questions, please comment or send us a message on our Contact page. Thanks for following along as we keep saving and keep swimming.
See you out of debt and in the water!