Net Worth First Quarter 2014
Our net worth from first quarter 2014. (
A month early, I just couldn’t wait.) EDIT: March 2014 net worth added.
My net worth was $85,000 in 2010 with zero debt. So why is it $19.151.97 now with $10,499.68 in debt? Read this for an explanation. Also, read this blog post for an explanation on why Carrie and I started posting our financials.
Here is it, our net worth…
|Net Worth||Dec 2013||Jan 2014||Feb 2014||March 2014|
Breakdown of net worth…
- We are currently contributing 10% of Carrie’s salary to her company 401(k). We boosted it from 6% to 10% in December 2013.
- We are not currently contributing to either of the Vanguard accounts. But how awesome is it to continue to earn money even while we aren’t contributing?! 2013 was a great year for the Vanguard accounts(see screen shot below). We look forward to continuing to contribute to the Vanguard accounts on a regular basis again in the near future.
- We need to boost our savings a little. I would like to see $5000 in the emergency savings fund. We can probably have this fully funded by mid 2014.
- We do not include the value of our two cars as assets towards our net worth. Why? Because you will never see the money you spend on a car again, it’s gone forever. If we sell a car, we will just use that money to buy another car anyway. I view the value of a car as a sunk cost, a purchase that you will never liquidate in order to use that cash somewhere else. A car isn’t an investment so why do some people count the value of a car towards their net worth? I don’t know. (However, if you have a car payment, you should include it in your net worth under the debt section.)
- Both are student loans.
- We made the minimum payments for the past three years.
- Total balance was something like $16,000 in 2010.
- We started paying extra on the Sallie Mae loan in Jan 2014 because it has the higher interest rate (6.5 compared to 3.2).
- If you pay the minimum on your student loan debts, it will take FOREVER to pay them off. If you only pay the minimum, you will pay so much in interest and so little on the principal it’s enough to make you scream. So, scream, get pissed off, and pay off your debts. Log into your accounts, figure out how to pay more on the loan with the highest interest rate, and smile.
- (Sidenote: Get pissed off at your car payment too, scream a little, and then pay it off.)
- With the stock market doing it’s thing, going up and down, our net worth is along for the ride.
- Over the long term our net worth goes up on average, always has, always will.
- We are paying off our student loans faster now, so that will help our net worth grow faster too.
- We increased the amount we are investing, so that will help too.
How do you calculate your net worth?
Use the same Google Doc monthly budget spreadsheet that we use.
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If you would like to see others net worths: Feast your eyes on this list…
The Net Worths of Personal Finance Bloggers
Thanks to J.Money for putting this together.
- I Am 1 Percent @ $1,689,052
- Bucking The Trend @ $1,244,605
- 2 Million Blog @ $1,230,181
- Dinks Finance @ $1,065,775
- Andrew’s Dad @ $1,006,925
- 1500 Days @ $858,561
- Million Dollar Journey @ $852,435
- Planting Our Pennies @ $673,900
- Darwin’s Money @ $633,854
- FI Fighter @ $586,137
- Big Day Coming @ $576,276
- Three is Plenty @ $571,497
- Budgets Are Sexy @ $433,149 **
- Boomer & Echo @ $335,161
- Money Ramblings @ $258,681
- Punch Debt in The Face @ $233,583
- Save. Spend. Splurge @ $218,737 *
- Freedom Thirty Five Blog @ $208,900 *
- Narrow Bridge @ $202,762
- No More Spending @ £131,221 ***
- Romeo Jeremiah @ $121,312
- Lisa vs. The Loans @ $116,107
- Tales from the Trenches @ $108,204 *
- Give Me Back My Five Bucks @ $95,412 *
- Net Worth Warrior @ $86,132
- theFIREstarter @ £83,605 ***
- Cashville Skyline @ $82,460
- Beachgirl’s Budget Blog @ $40,540
- brokeGIRL rich @ $35,482
- L Bee and The Money Tree @ $13,607
- My Alternate Life @ $11,979
- Poorer Than You @ (-) $5,469
- Malachi Money @ (-) $14,439
- Financial Diffraction @ (-) $22,848 *
- The Goblin Chief @ (-) $28,948
- Debt Blag @ (-) $77,600
- Beyond Mom @ (-) $96,985