Net Worth Review: November 2009

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November 2009 Net Worth Summary

Cash Savings and Emergency Funds (+$673)

This category includes our checking and savings accounts.Our joint savings includes our emergency fund and our house down payment fund. We had a major setback in November with the house closing not going through.

We were looking for a resolution from the builder that wouldn't drain our funds while we wait for the inspection that is needed to close.

We are signing papers on a new apartment tomorrow, so the numbers may dip a little. Once we get everything settled, the leftover money will go back into joint savings.

NG Direct may not have the highest rates of savings right now, but they have better than average interest rates compared to many banks and we’ve had solid customer service from them.

Retirement Accounts ($1,171)

My husband has continued his 401(k)contribution to get his company’s match. I’ve lowered my contributions to my Roth IRA and I’m directing money towards the joint savings account for the bigger emergency fund. Once we get a house, I’ll contribute more again towards the Roth IRA.

Auto Property ($0)

In case you’re wondering how I got the numbers, I’ve got the prices from Kelly Blue Book. We no longer have car loans, so they are an asset. Every quarter I’ll update them to account for depreciation so the next update will be in next month's net worth review. If you’re looking at paying off your car loan faster, we shared our own family plan.

Student Loans (-$302)

These are my student loans and it’s slowly being paid down. Not much to report, but I’m planning on consolidating the loans to lower the interest rates soon after we move to the new apartment. Currently consolidating student loans can lower them to 2.49%, which is a great deal and would decrease the monthly payment a bit.

Credit Cards ($0)

We pay off the balance on the card every month. I have a monthly subscription taken out on my card to keep it active. We use the credit card for vacations and then pay it off when we come home.

Net Worth Thoughts

So we’re in the positive with our net worth, which is great, considering we had just finished our car loan earlier this year. I'm happy we reached $10,000 before the year end. Our goal is to keep it in the five figures in December.