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in Assets, Blog, Credit, Debt, Net Worth, Wealth

Past Month’s Happenings

It is time to discuss October. In case you guys didn’t know, there are less than eight weeks until Christmas…That Learning Gal has already busted out the Christmas albums. I mean, I like Christmas music as much as the next guy–and God bless my wife–but the ear plugs will probably be inserted around December 2nd.

October was a busy son-of-a-gun!

1. My Book Got Edited, and Boy, Did It Get Edited

That heading is no lie. My editor did a lot of tearing up of the plot. If I didn’t think I was going to get my money’s worth on that one, then I was horribly wrong. I paid $200 for her services. The value I received from that modest investment was well worth it, and will be extremely helpful going forward. The next steps are to compile the book for self-publishing and then continue pushing the marketing and put the thing up on the market place!

2. That Learning Gal and I Are in the Process of Purchasing Our First Home

This one is a little obvious since I’ve been writing a series of blog posts on the subject, but she and I are getting out first house! Now, things aren’t completely set in stone yet. There are a few more items which need taken care of, but all of the major obstacles to acquiring the home are nearly complete! We just need to get our appraisal completed, make sure the seller has completed the items we asked for them to fix as part of the inspection, and do a final walk-through (and yeah, all of the paperwork…). After that we’ll be good to go.

The house is of modest price, leaving us with a PITIP (principal, interest, taxes, insurance, and PMI), which should only be marginally more expensive than our current rent is right now.

The Report

And now we come to the meat of the post, the wealth report:

DebtAmount ($, USD)Percentage Change From Last Month (%)Investments/Cash/Assets Amount ($, USD)Percentage Change From Last Month (%)
Student Loans47,313.94-4.48401k/IRAs9333.0926.03
Credit Card00MoneyN/AN/A
Auto Loan9257.96-1.72Vehicles73290
Total56,571.90-4.03Total16662.09+N/AN/A

Alright, like I said last month, this report is going to be a little inconclusive, but hopefully that will change in the next month or two. It’s because we are currently saving up for a down payment on a house, and both That Learning Gal and I would feel more comfortable if we didn’t reveal our current cash position, as it is inflated beyond what we normally would keep at our disposal. So, again, I apologize for this.

The debt continues to decrease at an accelerated pace though! As you can see from the table, we reduced our debt by a little over 4%! If you combine that rate over the course of a year, that would come to at least 48%! Almost half of our remaining debt gone in a year? Count me in. I’m just trying to enjoy the current debt decrease until the mortgage comes along (*sobs*). Based off the assets and cash, our current net worth would be, drum roll, please…$-21,909.81!

You’re probably noticing a significant increase in our net worth over last month. Well, in this one, I included all assets (cars, Roth IRA, 401k) and cash (emergency fund and approximate house down payment). This gives a better picture of where we’re actually sitting right now.

We’re going to be facing an interesting position over the course of the next few months. We should have a majority of our high interest debt paid off, with no loans above 5%. As higher interest debt gets paid off, investments outside of retirement accounts become a more plausible option. We wouldn’t take all of the money we’ve been throwing at our student loans and start dropping it into taxable investments accounts, but increasing contributions to 401k’s and IRA’s becomes more attractive so we could potentially lower our tax burden (look for a post on this in the future!). We’ll see where the future takes us though!

Wrap-Up

October was a busy, busy month (but aren’t they all?). We started the home buying process on a house that is a hell of a deal. It’s a home where we could see ourselves for a long time, and if something changes, it’s a home we are confident we can increase the value of rather significantly. A win-win! My first book got professionally edited, and should be ready to be put into the public’s hands for purchase before the year is out!

How was October for you guys? Did you do anything to increase your net worth? If you have any ideas on how to increase it, or what you’re doing to make an increase in that number, let’s discuss in the comments! Thanks, everyone! Have a great weekend.

-That Learning Guy




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