Net Worth: 2018-06-01

Summer is here! We did not really have a Spring. One day it was 40°F and the next it was 80°F. Now that graduation parties are over and our parents are back home, I was able to calculate our net worth for the month. I would like to begin with a great quote from one of my favorite inspirational investors.

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”
   ~Charlie Munger
      USC Law Commencement Speech, May 2007

Net Worth: 2018-06-01

Cash Savings $15,451.87 3.2%
Cash Back/Gift Cards $1,648.77 -11.0%
Brokerage/Crypto $16,278.86 -4.7%
Retirement $460,545.37 2.7%
MOST 529 $4,602.61 5.4%
House $303,000.00 0.0%
Cars & Boat $47,721.00 -1.1%
TOTAL ASSETS $849,248.48 1.3%
Credit Cards $3,685.84 21.4%
Car Loan $18,600.00 -3.1%
HELOC $33,315.77 -0.8%
Mortgage $187,608.02 -0.7%
Student Loans $210,524.49 -0.1%
TOTAL LIABILITIES $453,734.12 -0.4%
TOTAL NET WORTH $395,514.36 3.3%

We are not up much from April, but even a little progress is better than no progress and certainly better than going backwards. Here is more detail about each section.

Cash Savings

We are up $475.88 from last month, which is still nearly $3,000 from our highest point since we began tracking our net worth. Provided we do not have any emergencies, I foresee this continuing on an upward trend. Why? Our credit union offers a high interest savings account that pays 4% APY on the first $1,500 in the account. We have one account in my name, one in my wife’s name, and one joint account. We are back to having each of them completely filled. In addition, I began depositing money each week into our Synchrony High Yield Savings account at 1.65% APY. The balance is up to $1,700. My plan is to increase this each month by at least $500.

Our emergency fund is only $6,244.43. Since we still have a massive amount of debt, Dave Ramsey recommends having a baby emergency fund of only $1,000. Many other advisors recommend six or, in the case of Suze Orman, eight months in your emergency fund. We are a long way from saving eight months, but we found as long as we have at least $4,500 this manages to cover our emergencies. I believe that when you are in debt you should keep your emergency fund as small as makes you feel comfortable. We use credit cards, but we like to have cash to cover any emergency expenses, so we do not increase our debt.

Cash Back/Gift Cards

Our cash back and gift cards took a hit this month. We finally used the $300 gift card my father and step-mother gave us for Xmas. Did we use it to buy groceries? Nope. We decided to treat ourselves to a standup paddle board. This is something we both wanted but did not want to spend the money. When Costco had one for the same amount as our gift card, we agreed this would be our gift. Since we rarely spend money elsewhere, we decided this was a worth using our gift card.


Both these accounts are pretty much a bust. I eked out $41.86 in options trades during the month after fees and commissions. I decided that once I sell my stock in the brokerage, I am going to take out the most that I can and still keep the account active and use that amount to pay down on our HELOC. There is absolutely no sense in investing when we are paying interest on that loan.

As for crypto, my advice is stay away. We are in the red by several thousand dollars. Maybe we will make it back, maybe it will go to zero, maybe it will quadruple. No one knows at this point. The good thing is that I am comfortable losing the entire amount. It was a minimal long shot anyway.


I mentioned in my net worth post from May and then in a blog post that we are Selling Our Investments. I continue to set weekly covered calls on our last two remaining stocks that we own. A covered call allows me to collect money while holding the stock. This generated $2,025.32 after paying $254.68 in fees and commissions last month. We nearly sold one of them when it closed $0.09 from my strike price, last week. Hopefully, it will sell this Friday. Then we will be down to a single stock in our portfolio.

MOST 529

This account keeps chugging right along. With our monthly deposit and the gains in the market, this account is up $235.36 from last month. I talked about this in my most recent post Graduate Gold.


The seller’s market continues here on the lake. Dr. SoS sent a listing for a house purchased when I purchased my house for about the same price now listed for $500,000. That is insane, but I would love it if houses begin selling for that much here. Since the amount of information fluctuates I decided to cut my home information to just the estimates. Here are the recent home estimates for our zip code.

Amount % Change
Xome Home Estimate $310,172 0.3%
Zillow Home Estimate $297,583 0.8%
Average Home Estimate $303,877 0.5%
Median Home Price $280,000 5.7%

Cars & Boat

My newer car dropped in value more than my wife’s. My son, Mr. O’s car went up. Maybe older model cars are hot now. The boat did not decline in value. One good thing is that my father-in-law helped me fix the stereo in the boat, so to me it is worth even more!

Credit Cards

I picked up a new credit card this month. I looked for a card with 0% for at least 12 months that also paid cash back. I chose the Chase Freedom Unlimited card. We have some home repairs we want to do this month to help our energy bills. Even though we have the cash, I figured I would let the credit card company give me some time to pay it off gradually and pay me to do it. We receive $150 cash back after our first charge of $500 and will have 15 months to pay off the balance.

I do not recommend obtaining extra credit cards unless you already mastered the ones you have. We have one other card at 0% that we will pay by October if we do not pay it sooner. The rest of our cards we pay off at least once or twice per month. Although we are up 21.4% in this category, we have the cash to pay all of them off. If we did not have the money we would stop using credit cards until we did. That is the only way to use credit cards.

Car Loan

We only have 31 payments or 2 years 7 months to go. It will not get here soon enough!

HELOC (Home Equity Line Of Credit)

We paid off another 0.8% of the loan. I expect we will cut this by 15% next month. That’s the plan!


We only have 125 more payments or 10 years 5 months to pay off our house. For some reason I feel we are paying off the house faster than the car despite the fact that this loan is over 4 times as long. Maybe it is because we are reducing the principal balance by $1,256 per month.

Student Loans

The only loans we have left are the student loans for Dr. SoS. You may recall that we recently paid off my student loans and I talked about it on Twenty Years of Payments. I sincerely believe as we snowball our debt repayments we will have this loan paid off before we have the house paid off. Stick around and see if we do it!

As of the first day of June 2018, we have a net worth of $395,514.36 up 3.3% from the May total of $382,732.68 and up 17.82% from our June 2017 net worth of $335,707.91. Our current net worth puts us in the top 40% at 235/583 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.

Now go calculate your net worth!

Mr. SoS


  1. i have that same chase card and it’s given me quite a bit of cash back. i usually let it build up until there is a little splurge. i took 4 of us out for my best buddy’s 50th birthday last weekend and most of that couple of hundred bucks was covered by cash back. they have been a great company to deal with over the years. no b.s. and no chiseling on fees or sneaky stuff.

    1. Freddy:

      We use several different cards and allow the cash to accumulate. We use our Amex Blue for Gas (5%), Groceries (5%), and Pharmacy (5%). We use our Citibank Costco for Costco (2%) and restaurants (3%). We use our Citibank Double Cash card for everything else (2%). The great things about the new Chase Freedom Unlimited is that 1) We can pay for the $2,200 balance over the next 11 months at $200 per month 2) I am able to set up automatic payments of this amount so I do not forget 3) We get $150 cash back for this first, and probably only, purchase and 4) We still get the 1.5% cash back on the purchase. It seemed like a win for us. Thanks for your comment!

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