September 2016 Net Worth Update

Fall is in the air and we’re in that sweet spot where we don’t need to use the air conditioner or heater, it’s a beautiful thing. September was another good month for net worth building, too. We had planned on taking a small trip during the month but ended up cancelling at the last minute, which helped us to be able to make a larger mortgage payment without drawing down savings. We also bought some new furniture that we’ve planned on for a while but hadn’t found the right thing until now. Overall, our net worth is up another $8k to be $584,517. Getting to $600k by the end of the year continues to feel doable.

CASH

Nothing too exciting here – we are purposefully trying to keep our cash balance between $20-25k. Our savings account balance hovers around $20k and the rest is in our checking account. We’ve been averaging just $10-15 in monthly interest, which is hard to get too excited about.

INVESTMENTS

Yet another month where our investment balances increased mainly because of what was contributed and hardly any market movement. There haven’t been any real changes to our allocations or contribution amounts.

CARS

I’m super excited that my car is getting close to the 200,000 mile mark. I just hit 193,000 and should get to 200,000 within the next 6 months. The value of a car is a funny thing. KBB says our cars are worth less than $10k combined but I feel like they mean a lot more than that to me. I love my car and the fact that I haven’t ever had any major repairs to it other than regular maintenance (knock on wood). It’s hard to think that I’d be able to find another car for a similar amount that is in as good of condition.

HOUSE/MORTGAGE

We paid a near double mortgage payment this month and it’s nice to see the mortgage balance knocked down a bunch. We should be able to make similar sized payments for most of the rest of the year but won’t quite be able to cross below $200,000 by the end of the year. Zillow has our house continuing to climb in value and now is at $450k.

It’s psychological, and perhaps counter-intuitive, but when I see the value of our house this high the thought crosses my mind to downsize and get something we can afford to pay cash for. There are plenty of houses that we could buy for not much more than our current home equity that are looking extremely tempting once we finish up some of our home improvement projects we’ve got going on (there’s always something, isn’t there?). Stay tuned for more on that front, we’ll likely decide something in the next few months as we finish painting the outside of the house and making some minor improvements to the landscaping.

As always, I’ll end with a look back at where we’ve come from. This helps me to put things into perspective and also continue to look forward.

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