September is complete and Dr. SoS and I made it through both having another birthday. We are both swimmers and both a Virgo. Before we check out how September turned out for the SoS clan, do you know the answer to the following?
How do you know that a personal finance blogger is a Virgo?
They show their net worth to the penny.
I do not really know if that is true, but if you are a Virgo and also a personal finance blogger, maybe you can let me know if you are as down-to-the-penny as I am.
Net Worth: 2018-10-01
|Cash Back/Gift Cards||$933.66||$936.77||-0.3%|
|Cars & Boat||$46,610.00||$47,572.00||0.1%|
|TOTAL NET WORTH||$446,864.26||$445,847.96||0.2%|
We spent $1,800 from our cash savings to pay for a vacation for just the two of us, Dr. and Mr. SoS. This was cash that we earned from Cash Back on our credit cards and we earmarked it for this exact purpose. Our cash savings was down $43.51 from last month, but just the other day I began listening to You Need a Budget by Jesse Mecham, so expect this to grow in the coming months as we apply his four rules of budgeting.
Cash Back/Gift Cards
This amount went down by $3.11, as I cashed out $100 from our American Express Blue card to deposit into savings. I plan to continue cashing out whatever I can when the amount reaches $100 and stashing this in our online savings account
I finally did it. I cashed out the rest of our Brokerage account and closed the account. Every penny of this went toward paying down our HELOC. As for the 15 Ethereum I own, it is down another 19.7% from last month. My plan for this is to just let it sit there until it goes to $0, because even though there is a slim chance, I still hope that we will make money on this long-shot. The one thing this taught me is beware of FOMO or Fear of Missing Out. If everyone is doing it, you should probably look the other way.
I had my best options trading month, yet, clearing $9,767.52 after fees and commissions. Unfortunately, Friday was the day that the news came out about the SEC suing Elon Musk and the stock dropped to $265 per share. This pretty much wiped out our gains for the month. That’s okay, I bought 200 more shares at $265 and the stock has been as high as $314 since then, which is a gain of $9,800 on paper. I have not sold my shares, yet, but my plan is to sell them and keep the profits. I am just waiting for the next earnings release. If you are reading this, I am not suggesting that you buy shares in TSLA. It is the most volatile company I have ever owned and although I do not believe the stock will drop much below $250 before the entire market crashes, one never knows, so just stay away.
We added another $200 to this account and we are up $208.89. I am considering temporarily halting our contribution to this account until we pay off our HELOC. I think it is great that we are putting money away for Baby SoS to use for education expenses, but I believe paying off debt is a higher priority and that HELOC must go!
I finally increased the estimate for our house. The house just across the cove from our house just sold for $385,000 and our house is about the same size. We could not sell our house for this much without some renovating, but we could certainly sell it for $305,000 without doing a thing to the house. I imagine this sale affected the other houses in our neighborhood and this reflects in the Xome and Median Home Price for our zip code.
|Xome Home Estimate||$355,094||$354,331||0.2%|
|Zillow Home Estimate||$303,712||$305,108||-0.5%|
|Average Home Estimate||$329,403||$329,719||-0.1%|
|Median Home Price||$312,500||$265,000||17.9%|
Cars & Boat
Crazily enough, my car went up in value by $281 while our other two cars went down in value $243 and our boat stayed the same.
We paid off the balance that had our vacation trip on it. This tipped us over the required balance to begin receiving 5% back on Gas, Groceries, and Pharmacy with our American Express Blue card. We spend more on groceries than any other discretionary spending, so we try to get that 5% back as soon as possible. Now we will begin raking in the cash back rewards.
We are down to 27 payments (2 years 3 months) to pay off my car. I believe we are going to begin saving for Dr. SoS’s Tesla Model 3. We should jointly write a blog post about that.
HELOC (Home Equity Line Of Credit)
After closing our Brokerage account we paid a total of $1,883.23 against this debt. This reduced the balance by 1.6%. It is still a significant debt, but we are developing a plan to really focus on this debt.
Only 121 more payments (10 years 1 months) to pay off our house. Dr. SoS says we need to remodel the downstairs bathroom, so it looks like we will soon begin budgeting for this.
We only paid $197.62 against the principal of Dr. SoS’s student loan. What makes this somewhat disheartening is that the lion’s share of our payment goes toward paying the monthly interest and we are making $754.75 payments each month.
As of the first day of October 2018, we have a net worth of $446,864.26 up 0.2% from our net worth last month, $445,847.96, and up 22.9% from our 2017 net worth of $363,482.67. Our current net worth puts us in the top 37% at 243/656 bloggers on the Rockstar Finance Directory Net Worth Tracker.
We recently began swimming again, now it is time to save even more! If you have any questions, please comment or send us a message on our Contact page.
Until next time,