Look at that. My net worth post is late again. I nearly ran into July writing the post from June 1st. Over the past month, several ideas came to me for additional blog posts. I just need to make time to write them. Remember when I wrote blog posts other than just net worth posts? Yeah, neither do I, but perhaps I can write some in the next month or three. Let us get to the numbers, which is why you are reading after all.
Monthly Net Worth Update
As you can see our assets increased by over $4,000 in the last month. I share how we managed to do that in the category breakdowns below.
Our total cash savings reached a new high of $22,105.22, which is up $2,233.76 from the previous month. We will need so spend at least $6,000 in June, though, so this will be down next month.
Cash Back/Gift Cards
Our grandfathered Amex Blue Cash card pays 5% back on groceries and gas. Chase Amazon pays 5% back from Amazon. The biggest bump, though was from our Costco Reward Gift Certificate of $185.43, which was the main reason this category is so much higher.
Look at that. Coinbase shows we are up $342.81 in the last month. That is a change to how this account performed since we opened it.
We had an increase of $1,619.74 in the last month from personal and employee match deposits into my 403b and 401a accounts with work.
In our last Net Worth post this account was up $0.06. This past month it was up $0.11. That’s quite an increase! Only problem it is in pennies.
The average list price for our home between Xome and Zillow is up to $350,395, which is an all-time high since I began keeping track. It appears that there are 40 houses for sale in our area, but none of them have sold recently. Perhaps it is because they are so overpriced due to the low interest rates.
We refinanced our home in 2012 with on a 15-year fixed loan at 3.125% interest. I just had a friend do a cash out refinance at 2.99%, so I know rates are low. With only eight and a half years left on our mortgage, I doubt we will refinance. I do not believe the benefit would outweigh the costs.
Cars and Boat
I drove a little more than the previous month driving 155 miles and Dr. SoS drove 420 miles. This is still a far cry from the over 1,000 miles each we drove in January. Kelly Blue Book increased the value of my car by $194 and the value of my wife’s car dropped $419.
We paid off an additional $2,481.43 during the previous month across our three debts.
I continue to pay our credit card off weekly and pay them off before the end of the month. This month was no exception. We finished the month with a $0 balance across all our cards.
Only 7 more $600 payments at 0% interest until we have no more car payments. After seeing my shiny car, a friend recently asked me if I bought a new car. I told them that I just take good care of my car. I call that Carma. It is my experience that the cleaner and nicer you keep your vehicle the better luck you will have with it regarding repairs. Hence, the twist of spelling and meaning from Karma to Carma.
We have 8 years 6 months (102 payments) to pay off the remaining $156,446.65 balance. Last month, we paid $1,337.59 against the principle.
We have 22 years 9 months (273 payments) to pay off the remaining $201,691.29 balance. Last month, we paid $543.84 against the principal.
We continue to calculate our savings rate, which I started calculating in February 2020. Here are the resulting calculations for the month.
- 26.45% – Percent of Debt Payments / Income earned
- 10.39% – Percent of Personal Retirement Savings / Income earned
- 3.13% – Percent of Employer Retirement Savings / Income earned
- 13.53% – Percent of all Retirement Savings / Income Earned
- 39.98% – 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. If you have any comments or questions, please leave a comment.
Thank you for reading!