June 2017 Net Worth Update

Hello and welcome to our June 2017 Statement of Net Worth Update which is extremely late even though I had the numbers ready by 6/2! I’ve been busy settling in to the summer routine, finishing up the side hustle, and I’m working on diet and exercise lately. So sorry I have neglected my blog! I get summer blues and usually find myself more motivated in the Fall/Winter seasons. I’m strange. Anyway, on to the breakdown!

Statement of Net Worth. June

Assets

You will notice an incredible decrease in our Car Insurance savings, because the car insurance became due! So all this money got cleaned out and we were able to pay the car insurance in full without a problem. That was a great feeling. I also charged it to our Capital One account before paying it off to earn 1.5% cash back. Yay, free money!

Starting July 1st we will start an automatic transfer of $325 per month in to this account so we will see it growing again soon!

The Dart lost another significant chunk of value this month as well, but looking at the liabilities section makes me feel a little better about that. The value of the liability decreased $208 compared to the decrease in the asset of $188. It still stinks, though.

Again, the decrease in Savings – Reg is a holding place for our paychecks until we pay all the bills on the last day of the month so that will go up and down in value but it doesn’t mean much for reporting purposes.

Liabilities

This was a good month, with only the Navient going up in value $121. I had planned to increase my payments to this account in order to avoid growth in my liabilities, but I have become very active in the Instagram Debt Free Community and they advised me that I should go ahead with the Debt Snowball method so that is what I’ll be doing.

I have some more liabilities that I haven’t been completely honest about. Well, not un-honest it’s just I failed to add them to my spreadsheet. They are RAC once again. My husband has a laptop on 0% interest. As of the writing of this blog, the balance is now $169.84.

We are also on a payment plan for the medical bills I discussed in a previous blog. In fact it has been my intention to write a blog about our success with the Compassionate Care program – Our $1,800 bill got knocked down to $378.83 and we were placed automatically on a payment plan of $127 per month. I just never got around to writing that blog. We also have a radiology bill for the MRI he had to have of $746 which we are on a $100/mo payment plan. These are all 0% interest of course.

Vermuelen’s didn’t come down at all because I have been counting $50 ahead somehow and just caught on to it. Whoops! This is the corrected balance.

Debt Pay Off

Hey, what is this? This is a new section where I will discuss what debts were paid off this month (if any) and where I will announce future debt pay off plans.

It just so happens we did pay off a debt for the month of June! That $1,800 bill that became $378.83 is now paid in full! This saves us $127 a month on our total bills each month. Win! Now, our 3 smallest debts at the end of June will be: RAC – $106.27, Vermuelen’s – $306, and Radiology – $346. I should have $350 left after paying bills so we will hopefully be saying goodbye to RAC and possibly Vermuelen’s as well!

Conclusion

You guys! We are now at our HIGHEST Net Worth since I started my blog in October! I only see good things from here on out, We increased $1,560 for a Net Worth of $(66,153)!

As always, thank you for reading. Please follow me on Instagram for daily updates on our journey! @networthnegative

XOXO,

 

Dolores

May 2017 Net Worth Update

May.SNWWelcome to another installment of our Statement of Net Worth updates!

I have been slacking on posting lately, I apologize for that. I have a lot of ideas that I would like to share with my readers so I’m hoping to get back in to posting once weekly. Also, I’m on Instagram! Please follow me @networthnegative.

We have made a nice recovery from last month’s decrease of $3,354 with an increase this month of $3,011!

I’m excited because I don’t foresee us having any more decreases in our Net Worth for about another year. I am considering the Central A/C replacement in March of 2018, and we will be buying a used car that same month because our lease for the Equinox is up 3/31/2018.

But, I digress. On to the breakdown!

Statement of Net Worth. May

Assets

Only one decrease in assets this month which is the Dodge Dart depreciation. Quite a sizeable decrease though. $268 in only one month!

You may have noticed that the Savings – Tax CD account name has been changed to Savings – Car Ins. I mentioned to you guys in a previous post how I was unable to put anything extra toward debt for a few months because we were recovering from our car insurance costs. Well, now I have made a plan to contribute an equal monthly amount to this account automatically so that we will be able to make our car insurance payment in one go. We also charge this bill automatically to our credit card and earn 1.5% cash back on it. Winning all around!

The car insurance is due 5/11/2017 so we will have a ginormous decrease in this account next month. Sad face. We are being charged an exorbitant amount due to having our son on our policy and then we recently discovered 1 error on each of our credit reports so we are working on getting those errors fixed and then we will shop around for different car insurance quotes. I heard a quote today: “Your insurance company isn’t loyal to you, so don’t be loyal to your insurance company! Shop around!” I do love my agent though, but he’s not worth $2,020.32 for full coverage on 3 cars for 6 months. Sorry, Chris!

Liabilities

2 liabilities increased in value this month and that was the CP Credit Card and Navient. The CP Credit Card continues to be a problem. We went on a bit of a spending spree for my birthday (April 5), and we spent a lot this weekend attending my best friends graduation (flowers, parking, gifts). My card has been put away since the day after my birthday, but my husband still has his and refuses to be cooperative.

Many of our credit card transactions are restaurant visits for us. I like to think that I’m doing much better about cooking dinner at home every night, but the credit card statement says otherwise. Also, my husband is a fan of picking up the check when he has lunch with friends much to my chagrin. His generous spirit needs to be reined in.

As for Navient, this was an odd increase this month. Typically we see over $100 increase each  month but this month it was only $87! I think that may be due to the timing of the month when I’m writing this post. It’s the earliest I think that I’ve ever been able to give an update on our net worth since I changed both our student loans to autodraft on the 1st instead of the 3rd of the months.

Overall, we see an increase in net worth of $3,011 and that brings our Net Worth for 5/2017 to $(67,713). Our record highest net worth was in 11/2016 of $(66,969). I’m sure we can beat that next month! We have only had 2 consecutive months of net worth increases since we started tracking in 10/2016 so having consecutive months of increases in our net worth will be another goal.

Coming up in May:

Fully funded baby emergency fund – $1,000

Drastic decrease in Savings – Car Ins

0 increases in liability accounts???

Thank you for reading and following our journey!

XOXO,
Dolores