April 2016 Net Worth

I have a monthly update problem.

I get super excited at the end of the month to write an update. I usually waste my time by collecting the numbers piece by piece. Sometimes I even try to estimate my monthly savings account interest so I can predict my end numbers. This is a lovely use of time. /s. What makes it horrible is that my HSA and 401k don’t update until the day after the end of the month and my 401k can only be accessed at work. Then for no good reason, the first week of the month is always the busiest, which why I’m writing a net worth update on May 10.

Hello 🙂

Let’s talk about April.

I got a taste of a whole different world. I did an interview in April about my student loans. The article was over at StudentLoanHero. I shared a unique part of my story that I don’t talk about much over here. You can find the article here.

Other than that it was a whole lot of work and normal life. I’m starting to realize why adults think time flies by. Without life milestones, it all kind of blurs together.

[Flashback!]

April 2015:  My first month as a saver! My loans were paid off and I had a whole $2203 in the house fund. I had a net worth of $32,869.

April 2014:  I owed $34,985 on my student loans.

April 2016: Another Great Month!

Screen Shot 2016-05-10 at 9.17.17 PM

Liabilities!

Car Loan: $7,217 ($377)  Slow and steady progress with my 1% car loan.

Assets!

Retirement: $34,822(+2,202) This month was a lot of contributions and little help from the market. It’s pretty crazy that without any help from the market, I contribute roughly $1950 to this line item every month.  I’m a little higher than that because I didn’t contribute to my IRA the first few weeks of the year.  It’s been an incredible mindset shift from saving a few hundred per month to now saving roughly TWO THOUSAND per month for retirement. Old Kate is incredibly happy with young Kate right now. 

Taxable: $8,269 No change.

Auto Value: $12,219 (-150)  The depreciating asset keeps depreciating. 

House Fund: $28,649 (+2,509) Another month roughly around average. I shifted around a lot of savings in May so the House Fund contributions will be way down. I’m taking a moment to appreciate how big this is. Next month it won’t be so fluffy!

Round Two Progress: (What is Round Two? check here!)

  • Baby Saver: $2125 
  • Middle Saver: $7953 (Loan value: $5828) ✔
  • Thing 1: $16,453 (Loan value: $8500) 
  • Things 2: $24,953 (Loan value: $8500) 
  • Big Momma: $45,330 (Loan value: $20,377) >in progress<
    • $28,649 down, $16,681 to go!

HSA: $6,471 (+297)  Mostly contributions, just like my retirement accounts. No bills this month, so that’s exciting. 

Car Fund: $552 (+51) Look! Another $1 in interest! My maintenance minder came on this month, so I’ll need to get that taken care of. It shouldn’t be too expensive, so my hope is to cash flow that and leave this alone. 

{Overall}

Net worth: $83,765. Up $5,286 from last month. 

This is my lowest increase of the year so far, but that only means I’ve been having a great year. It is exciting to be over $80k. I’m only a few months away from $100k! It’s hard to wrap my head around that.  … I wonder how long I’ll feel I’m behind financially. I seem to be making up a lot of time.

How was your April?  Are you on track for where you thought you’d be?

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18 comments

  1. I love a net worth update! I get inspired reading these stories about aggressive student loan pay off. While I was fortunate enough to evade student loans, my long-time boyfriend wasn’t, so it makes me feel more secure about our future when I see inspiring stories like yours.

    1. Thanks Erin! I love writing (AND reading) these because it shows how different everyone’s path is.

      Keep helping him kill that debt. I’m sure you’ll have that debt slayed in no time.

  2. Congrats on the fame! I hope the fortune follows for you! 🙂 I get equally excited for monthly updates! And well done. You’re rockin’ it as always.

  3. Congratulations! That’s a huge milestone. You’re definitely one of my inspirations for knocking down debt (and then saving) so quickly!

    1. Thanks Pennies. The flashback is my favorite part of the update. It’s been a wild ride the last three years and its nice to take a moment each month and reflect on how far I’ve come. Sometimes its reflecting on high points, sometimes low points. Either way, its progress.

  4. Yay for Young Kate and Old Kate! $80K is awesome, and $100K is so close! Maybe once you add that magical digit, you can stop feeling behind once and for all, because you are officially rocking it. And making such fast progress!

    1. So close. soo close. We’ll see if I stop feeling behind with an extra digit. I welcome that digit with open arms. I’m not sure what it will take for me to stop feeling behind, but so long as I do, I’ll keep capitalizing on the motivation to save save save!

  5. I am so with you about getting excited for monthly updates!
    Congrats on another great increase in net worth. It’s so impressive! We have not been doing so great with the net worth lately… we are actually down quite a bit since January… but hopefully the spendy months are behind us and we can start saving up lots of $$$ for the next few months and catch up.

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