2013 is going to be a great year!! Little guy is set to come any down now! It's so exciting! I can't believe the pregnancy has gone so fast! The nursery is fully stocked, the diapers are organized, and Mom and Dad are anxious to meet him! With all that established - its time to review our finances!!! YEAAA!!!
Cash - $9,586 ($-10,464)
Cash - $9,586 ($-10,464)
Investments - $102,938 (+$4,863)
Home Value - $197,000 ($0)
Personal Assets - $50,823 ($-578)
Less: Liabilities - $185,944 ($-2,578)
Okay - let me explain...
Assets -
Home Value - $197,000 ($0)
Personal Assets - $50,823 ($-578)
Less: Liabilities - $185,944 ($-2,578)
Okay - let me explain...
Assets -
Cash - I've changed the presentation of cash in the Net Worth calculation. Within our Growth account, I've set up various sub accounts for future liabilities (ie. Auto Insurance, Property Taxes, and Education) and it doesn't make sense to keep including these as Net Worth when I know they are going to be subtracted in the near future. In addition, this should eliminate the drastic swings in Net Worth that occur within various months when I make a Tuition payment. Overall, cash actually held steady.
Investments - Go Market Go!!!! We only made one small contribution ($500) to our house account, but the markets grew nearly 6% in January! It was one of the best months since pre-2008! We continue to invest in retirement and I've noticed bigger gains as the accounts have grown, compound interest baby!!!
Personal Assets - Small amount of depreciation on our two vehicles. Ho-hum. We have been going to open houses in our neighborhoods, which has got me very interested in selling our house. I'm intrigued by what the real value of our house/neighborhood is. However, I don't want to take on a bigger mortgage right now with new baby and other debts in line. The Joneses can have their fancy crap, we'll live in comfort and harmony for our entire lives!!
Liabilities -
Mortgage - $131,882 - We made our first mortgage payment on the refi and saw a $362 reduction to the original balance, which is much better than the $200 reductions we were seeing on the old mortgage.
Student Loans - $31,405 - Big move here as I used a portion of our Christmas gift to make a $1500 payment in January. Seeing the balance drop so significantly really got my juices flowing for more debt reduction. It's like an addiction - I want the balance to be ZERO RIGHT NOW!!!
Acura Loan - $22,191- Double payment made in January. See above. I might have a problem - or I"m a genius!! I hate paying First Commonwealth $50 a month for the right to use my car....
Mortgage - $131,882 - We made our first mortgage payment on the refi and saw a $362 reduction to the original balance, which is much better than the $200 reductions we were seeing on the old mortgage.
Student Loans - $31,405 - Big move here as I used a portion of our Christmas gift to make a $1500 payment in January. Seeing the balance drop so significantly really got my juices flowing for more debt reduction. It's like an addiction - I want the balance to be ZERO RIGHT NOW!!!
Acura Loan - $22,191- Double payment made in January. See above. I might have a problem - or I"m a genius!! I hate paying First Commonwealth $50 a month for the right to use my car....
Total Joint Net Worth - $174,639!
So, we saw a slight reduction in NW, but only because of the reclassification of the accounts. Overall, we saw massive gains in our investment portfolio, our debts were greatly reduced, and we still live comfortably and happily. Unfortunately ND lost in National Championship game, but we still had a great time! The little guy can't get here soon enough!!!
