How was your February? Our February was quiet and not much changed with our net worth. Perhaps that is why it took me so long to write my net worth post for the month. We managed to once again increase our net worth even though it was just a slight increase. Increase is better than decrease, right?
Monthly Net Worth Update
We increased our assets by 0.42% or a mere $4,909.01 by the end of February.
We shuffled some money around last month lowering our cash savings slightly by $163.81.
Cash Back/Gift Cards
We spent less in February, so our cash back was lower for the month, but still increased by $119.58 for the month.
I increased our investments by $2,705.66 from the previous $2,636.09. I received my annual merit increase, which automatically increased my bi-weekly paycheck contribution into my 403b. It is nice to see these increases. With the market continuing this seemingly never-ending bull streak, I plan to begin trading options to increase our investment balance even more.
We continue to deposit money in the 529 each month, but also withdraw each month now that we can use the money for K-12 expenses. We send our daughter to a private Montessori school and funneling the money through the 529 should help us save money on our state income taxes.
Home values finally stopped increasing. We valued our home at $405,000, the last assessed value.
Cars and Boat
After increasing the estimated value of my car by $609 the previous month, Kelly Blue Book dropped the value back $204. The strange thing is that after dropping my wife’s car by $62 it went up $300 in the past month. Our boat increased another $165, too.
We decreased our liabilities by 0.30% or a total of $1,117.65 for the month.
We continue paying our credit card balances weekly. We finished another month without any charge balances.
We paid $300 and have 42 more monthly payments to pay off $12,600 at 0%.
We have 29 years 7 months (355 payments) to pay off our remaining $156,608.41 mortgage balance. We paid off $279.65 of the principle.
We have 22 years (264 payments) to pay off the crazy 196,838.61 balance. However, we paid off $538.00 of the principle. Unfortunately, the remaining $523.85 went to pay interest on the loan. At least we are finally paying more on principal than on interest.
Here are the various savings rates I calculate monthly based on our income and debt payments.
- 19.67% – Percent of Debt Payments / Income earned
- 42.42% – Percent of Personal Retirement Savings / Income earned
- 5.17% – Percent of Employer Retirement Savings / Income earned
- 47.59% – Percent of all Retirement Savings / Income Earned
- 67.26% – Percent of Savings + Debt Payments / Income Earned
The debt payments are for our home mortgage, my car, and Dr. SoS’s student loan. The savings is only what I and my company contribute to my company 403b and HSA, excluding any cash savings.
We compile this information each month to keep us accountable and to hopefully inspire others to spend less than they make, save more, and make wise investment choices. Please leave any comments or questions below.
Thank you for reading!