A net increase of $12,438.42 to bring us to $197,349.34
We didn’t really want to wait one month to provide a net worth update. We really find it motivating so far making these posts and there’s been a few changes in the accounts that we the thought would make for a good reason to update. Plus it’s fun! (and with each post we learn a little more about adding fun things like COLOR to the text.
So onto the details of where we currently stand:
401k – $10,764.45 – So this one is just natural growth in the market plus normal payroll contributions. Nothing crazy.
HSA – $143.44 – Same as above, a little bit of growth from the portion that’s invested and normal contributions.
RothIRA – $211.53 – For the Roth IRA, we currently aren’t contributing as we decided that it was more important to get rid of our debt and the resume contributions after that. Hopefully by the end of next year (2018) we’ll be able to start contributing to this again and get that number increasing rapidly!
Acorns – $18.70 – So we’re going to do a little sales pitch here for Acorns because we think it’s pretty awesome. When you sign up, you connect Acorns to one or more of your accounts or credit cards and they monitor the purchases you make. With each purchase they “Round Up” the change to the next whole dollar withdraw that money from your checking account. For example: You buy the fancy $4.15 coffee from the fancy coffee shop. Acorns will round that up to $5 and deposit the $0.85 into your Acorns account. Pretty simple and while the change doesn’t seem like a lot, it does add up! We’ve been using it since May 2016 and have now reached over $250 in our account. Pretty cool!
Cash – $752.31 – Normal ebbs and flows of the checking account at work here. There’s a couple of bills that just went out.
Mr. Joe’s Student Loans – $39.51 – If you’ve been following our blog then you’ll know that we recently Re-financed Mr. Joe’s student loan with SoFI. We’ve detailed that process in some other posts you can find here. So far it’s been great working with SoFI. The change here is interest that’s accrued while we’re waiting for the next payment to process.
Mrs. Jane’s Student Loans – $7.00 – The change here is again interest that’s accrued while we’re waiting for the next payment to process.
Car Loan 1 – $687.53 – Big progress here and it’s due entirely to making a payment towards the end of last month and one early this month so two payments have processed in a reasonably small amount of time against this loan. We’ll take it!
Car Loan 1 – $277.65 – Making progress on schedule here due to making an on time payment. We’ve never been late but it’s nice to get this bill out the way before the midway point of the month.
Credit Cards – $1,133.94 – Another category with HUGE progress! The credit for this belongs entirely to actually sticking to our budget for the first time in a long time. It’s amazing to see how fast this number has dropped in such a small time.
One thing to note here is that while we’ve been married for some time we have not combined our finances until recently. That was a personal decision that we’ve revisited so in the coming months you’ll see large influx of cash as Jane has some sitting in savings that is not included here. We’re still working on changing our banking around so the amount you see in Cash currently is just Mr. Joe’s cash accounts.
Full Disclosure: The links above to SoFI and Acorns are referral links. I will get a small bonus from SoFI if you sign up using my link and you will get $100. If you sign up for Acorns with my link we both get $5.