Disclaimer about our Net Worth
We don’t have any debt, non whatsoever. But we use credit cards to earn some miles and get signup bonuses; we pay the whole balance every month. We own a car and a motorcycle, but we do not include the value of these vehicles in our Net Worth. The same for our kids 529s.
I know, it is late already and I should have posted all the numbers earlier, but this summer has been crazy and we didn’t have time for almost anything. But I was tracking all the numbers because I knew that one day I will write this post. So, here we go.
July 2017 Update
Welcome to our July 2017 Net Worth update. It’s been 4 months since we started tracking our numbers and I have to say it’s so amazing to see how fast our Net Worth can grow when we watch what we do and plan ahead.
Net Worth Update
Despite the fact our spending rate usually goes up during the summer season we were able to save a good chunk of money too. (I always have to remind myself that we have to live NOW but with the FUTURE in mind).
Because of 3 paychecks in June we put more money towards our future house, plus my and my wife’s retirement accounts increased a little more than usual.
Checking Account – $1,210.06 (-$7,451.26): We decided to keep just enough money in our checking account and transfer everything else to savings account. Plus, we transferred more to the downpayment fund this month.
Ally Savings (EF) – $30,000.00: this is our 6 months worth of living Emergency Fund. We use Ally Online Bank for keeping our Emergency Fund money. And you can read here why your emergency fund is not an investment.
Ally Savings (Other) – $6,830.00 (+$32.87): We use this account for our sinking funds and other expenses that happen once or two times year: car and motorcycle insurance, vacation fund and so on.
Mr. FR Traditional 401(k) $27,419.04 (+$2,460.06): in May we took a plunge and increased our pre-tax contribution from 6% to 15%. Finally I understood the idea of paying yourself first. It took couple of pay cycles to see the changes and, finally, in June we saw the huge difference in the contribution part. My employer matches $0.75 for every dollar up to 6%.
Mrs. FR Traditional 401(k) $10,542.30 (+$1,342.40): the same as above, Mrs. FR has increased her contribution to 15% and her employer matches $0.5 for the first 6%.
Mr. FR Roth IRA 5,775.35 (+$118.65): It’s so great to see this account growing without any contribution from us.
Mrs. FR Roth IRA 5,611.67 (+$111.67): Isn’t it amazing? Just a month ago we put $5,500 into my lovely wife’s Roth IRA account and it has grown already.
HSA $2,947.56 (+$513.81): Our HSA has two parts in it: checking account that we use for medical expenses and investment part. We always keep $2000 in the checking account and invest whatever is above.
Downpayment (VSTAX) $30,643.63 (+$5919,69): In June we invested $5,638.16 As you can see the market wasn’t so great, but we keep investing. We are saving for a house and our goal is to have enough money to buy it with no more than 25% of just one of either our salary, which is pretty conservative.
Liabilities ($0): Zero, Nada, Ноль. There’s nothing to say about, we don’t have car payments, we don’t carry balance on our credit cards, we use cash when it’s necessary and if we can get a better deal.