We finally bought a brand-new Tesla Model S Performance with Ludicrous mode. We dreamed of this moment for years! It goes from 0-60 in 2.4 seconds and cost a mere $131,500. Let’s talk about that, but we would like to share our net worth update first.
Monthly Net Worth Update
Our assets increased by $2,671.32. This was from an unforeseen bonus in my 401a match, and a 3% annual merit increase in my salary. Extra income goes toward paying debt and into savings. Here are the details.
We increased our cash accounts by only $115.26 last month. Our Synchrony Bank High Yield Savings account only increased by $70.47. Dr. SoS managed to keep us under our monthly food budget by new record of $62.23! All in all, I consider this a win.
Cash Back/Gift Cards
I finally located our Costco Cash Rewards certificate in the Citibank mobile app. We cashed it in for $278.77. Our cash back accounts are down to $390.18. We have a $50 restaurant gift card we plan to use next October for our annual anniversary lunch. I began cashing accounts at $100 or more and use the money to pay on debt or add to savings.
My Ethereum is up by $102.92. I guess that is something.
I read articles nearly every day about a pending crash. News speaks about the inverted yield curve, the price of palladium, and many other indicators that the market is headed for the tank. The market is up today, but we are really at the same level we were at January 22, 2018. If you have your money in an index fund, money in that account is worth the same amount now as it was then.
The market dropped during 2018, but we hit today’s amount on September 14, 2018. Then the market dropped, but came back on November 8, 2019. Then it dropped again and we are finally back up to that same peak today. This is why I am looking for my own investments. Until the market gives me a strong signal that it is headed up, I will stay out.
No additions to these accounts this month, but the balance increased by $10.19.
Houses are so overvalued in our neighborhood right now. The good thing is that it appears we own 50% of our house right now compared to our mortgage balance.
Cars and Boat
We made serious headway since last month paying debt. We reduced our liabilities by $4,949.97. This was due to paying off all our credit cards, paying on the mortgage, and keeping up with our huge monthly HELOC payment.
We finally made it. We paid the final $600 on our 0% credit card last month. Since we pay the rest of our credit cards each Friday, we are finally out of credit card debt. I never thought about the fact that we truly still had credit card debt and how much that was weighing on me until we paid it off. Even at 0% it was money we owed and prevented us from saving even more.
I read the other day that the average American family has $5,700 in credit card debt. As a country, we have over 1-trillion dollars in credit card debt. This saddens me, but I am glad we are finally out of ours. We plan to do our best to encourage others to pay theirs off, as well.
It is crazy to me that this 0% loan is down to $12,600 and that we only have 21 more $600 monthly payments to pay it off. I bet that once we get closer, I will get the itch to pay it off early, just like I did with our last 0% credit card.
HELOC (Home Equity Line of Credit)
We made our fourth monthly $2,000 plus interest payment on this loan. Our balance is now less than $16,000. A week or so ago, I shared an update in my second post in my Big Audacious Debt Payoff Plan series. We are determined and as the months roll by, we will get this debt paid this year. We may even get it paid by sometime in June.
Our monthly payment went up slightly to cover estimated tax increases for Escrow. We congratulated Chief Mom Officer this past week as she not only paid off the last of their mortgage, but are finally debt free. Just 116 more payments or 9 years 8 months to pay off this loan. Hopefully, sooner than that we will celebrate being debt free, as well.
We are still making minimum payments so we can knock out the HELOC. After we get that debt paid off, we will begin funneling more and more of our income into paying off this debt, as well.
As of the first day of April 2019, we have a new net worth high of $563,279.16 up 1.37% from our net worth of $555,657.87 last month and up 55.57% from our net worth of $205,797.78 from the first of April 2018. Our current net worth puts us in the top 30% at 227/768 bloggers on the Rockstar Finance Directory Net Worth Tracker.
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. If you have any comments or questions, please leave a comment or contact us directly.
Thank you for reading!
P.S. Although we would really like to purchase a brand-new top of the line Model S, we won’t. We will own a Tesla one of these days, but we have plenty of debt to pay off first. Besides, it will be more fun to buy one with cash than take out more debt to afford it. If you are wondering why I started out my post that way, it is because today is April 1st. Have a great April Fool’s Day!