Net Worth Update: $198,019.06 (So close!!!)

November 2010 Net Worth$1,980.94 away from my $200,000 goal this year!!! Hot diggity dog.

One more month to actually accomplish something of worthiness ;)

Other than that almost-sexy-feat though, nothing too spectacular about this month’s numbers. At least in comparison to previous months’ jumps.

I gotta remember to ENJOY this while we can, though. Cuz if I am truly considering working for myself one day soon (and I really am), then I’ll be lucky to break even every month!  And will probably be blogging about how money is all of a sudden at the top of my mind again just like 4 years ago ;)  Guess that’s the trade off right?  Happiness & time over money? At least in the short term… I’ve gotta start playing the lottery again!

Net Worth break down: November, 2010

CASH SAVINGS (+$3,426.33): We love it when it’s green :)  Most of this can be attributed to all our side hustles and the Mrs’  T.A. job she’s rockin’ in grad school.  It also helps that we rarely go shopping anymore ;)

EMERGENCY FUND ($0.00): Still untouched after all these years!  And to answer some of your questions – yup, it gains interest.  I just don’t extract it out and show it since it’s mixed in with pots of other money we’re saving on to (In our money market account – for easy & fluid access)

ROTH IRAs (+$444.85): I’ve been maxed out in this department, and we’ve stopped contributing to the Mrs’ account (so I can reach my $50k “quit my job” goal sooner) so these increases are all due to the market.  Love that :)

401(k)s (+$1,267.11): Same with this guy. All maxed out half-way through the year (I tend to go in extremes and upped my contribution percentage to 90% for a while!) so any fluctuations are because of the markets. Although truth be told I’m actually still waiting for some money that hasn’t hit my account yet! But can’t get into that right now… maybe for another day :(

AUTOS WORTH (kbb) (-$625): More than normal, but whatev – it’ll probably adjust and be in positive next month like it randomly does ;)

  • Pimp Daddy Caddy: $2,670
  • Gas Ticklin’ Toyota: $8,790

HOME VALUE (Realtor) ($0.00): Keeping it at the same $300k as our realtor set it at a while back. We think it’s still in the ballpark since our neighbor’s house had an offer of $297k not too long ago – even though they decided to not sell in the end.

CREDIT CARDS (-$339.05): I know, I know – we should have this paid off already ;)  But I don’t care – I want that $50k fund filled up as fast as possible!  Even if it makes no financial sense.  It’s all about emotions at this stage, I ain’t afraid to admit it! (and plus – we knocked off way more than last month when we ADDED to it! yikes)

MORTGAGES (-$141.54): Doing great on this front. Been rounding both our mortgage payments up every month we can slowly knock some off w/out much pain :)  It’s also easier to budget/remember.  Might have to start doing this with other departments too… Here’s our remaining balances:

  • Mortgage #1: $286,580.25 – 30 year fixed, interest-only @ 6.875%.
  • Mortgage #2: $62,388.76 – Maxed out HELOC w/ 2.8% interest.

And we’re done!  Another month, another increase.  All part of the J. Money Handbook ;)  But don’t worry, I’m sure we’ve got plenty of drops coming our way over the years…  can’t enjoy the UPs without ’em, right?  Hope you all had great success too!  Feel free to let us know in the comments – we like peering into each others’ financial lives ;)

PS: My personal budget has also been updated, and you can download it (and others) here.
PPS: And so has my sidebars…

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PS: If you’re just getting started in your journey, here are a few good resources to help track your money. Doesn’t matter which route you go, just that it ends up sticking!

If you're not a spreadsheet guy like me and prefer something more automated (which is fine, whatever gets you to take action!), you can try your hand with a free Empower account instead (formerly Personal Capital)

Empower is a cool tool that connects with your bank & investment accounts to give you an automated way to track your net worth. You'll get a crystal clear picture of how your spending and investments affect your financial goals (early retirement?), and it's super easy to use.

personal capital dashboard

It only takes a couple minutes to set up and you can grab your free account here. They also do a lot of other cool stuff as well which my early retired friend Justin covers in our full review of Empower - check it out here: Why I Use Empower Almost Every Single Day.

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  1. Kevin December 1, 2010 at 10:10 AM

    That is amazing. There’s not too many people who even know what their net worth is. I think the economy would be a much better place if people did focus on increasing net worth. Have you ever considered a full inventory of your minor (Furniture, electronics, clothing etc.) purchases as well? I know that may be a lot of work but it might be interesting to find out what you have that’s still holding value and what is an expensive paperweight.

  2. Michael Senchuk December 1, 2010 at 10:26 AM

    Another good month in the markets for yours truly as well, up 14% in November, up 61% for the year. Still working through some issues elsewhere, as I took over full control of the household finances just a month ago.

  3. Karmella December 1, 2010 at 10:28 AM

    You are a rockstar!!!!

    I need to get on a spreadsheet – I think I’m going to have to bust out some Excel skills though, I went through most of those and they’re not quite what I need – and I’m crazy so I don’t want my financial info at *any* internet service (or downloaded software that wasn’t made be me or a friend) if I can help it.

  4. Doctor S December 1, 2010 at 11:28 AM

    Another month for business as usual for J. Money. I need to just move down there and live with you and it’ll wear off on me. You got a guest room I can use? Good work as always, end the year right!

  5. StackingCash December 1, 2010 at 12:13 PM

    After today’s market rally you should be above 200k. Congrats!

  6. Trina December 1, 2010 at 12:49 PM

    Great job! Your goal is sooooo close! You can do it!
    And, you totally got me motivated to do this monthly in 2011. The last several years I have just kept a yearly update…but I’m ready for more immediate gratification with the monthly check in:)

  7. Ed December 1, 2010 at 1:10 PM

    I find it difficult to trust and take advice from a personal finance blogger who refuses to pay off his credit card debt in the name of emotion! C’mon man!

  8. Briana @ GBR December 1, 2010 at 2:05 PM

    Looking good! You’re definitely gonna hit your goal with ease. And awesome job on the cash savings. One day I’ll be in the same boat

  9. Wow December 1, 2010 at 2:55 PM

    Is a copy this net worth chart on your website anywhere?

  10. Donna Freedman December 1, 2010 at 3:12 PM

    You kick frugal patoot. And I mean that in a good way.

  11. Matt December 1, 2010 at 4:00 PM

    Do you do a lot of trading with your Roth’s or do you max out and let it ride?

  12. Techbud December 1, 2010 at 4:52 PM

    Nice! You need to print a copy and hang on the refrigerator! :)

  13. retirebyforty December 1, 2010 at 10:03 PM

    Nice 401k!
    nutty mortgage though. You can do it by the end of the year!

  14. J. Money December 2, 2010 at 1:09 AM

    Thanks guys!!! That’s what 3 years of hardcore paying attention does to ya ;) Well, that and a crap ton of hustlin’… it’s the reason I’m leaving this comment at 1 a.m.! Gotta get things done while everyone’s sleepin’, oh yeah…. (Oh yeah!!!! Cabs are here! (Jersey Shore, anyone?))

    @Kevin – I agree – even if you just track this once a YEAR it would be good for people. You can easily gauge success (or not), and work on improving your situation. As for inventory’ing my stuff, oh yeah – most def. thought about it! And actually, I might even start it whenever I end up going full-time. But more so to see how many things I own so I can work on knocking it down (the whole minimalism thing) and keep just what’s truly important to me. In theory anyways. I *could* always come up with a number of how much I could probably sell a lot of it for – w/ like a 50% cut to be on safe side – but prob. wouldn’t put it in net worth. Some people do though.

    @Michael Senchuk – Rock it dude! 61% is no joke. Congrats :)
    @Karmella – Hey, we all got our own ways. As soon as you find one that works, stick to it!
    @Doctor S – Haha…. for you, always.
    @StackingCash – YAYYYY!! But it only counts if it’s there in 30 moredays ;)
    @Trina – YES! do it. DO IT. do it.
    @Ed – Hey, that’s why they call it “persona” finance. The great thing about having money saved up is it gives you options to do as you please with it ;) If you’re happy w/ the way it is, what’s wrong w/ that?
    @Briana @ GBR – I know you will – got no doubts about it!
    @Wow – Hmmm.. not sure what you mean exactly, but I keep all these numbers in my budget aka “financial snapshot” spreadsheet that you can download from the “my budget” link up there. I use Photoshop to make graphs pretty. You can see them all in my net worth category.
    @Donna Freedman – Thank you? :)
    @Matt – Max it out and let it ride, baby! Every now and then I get an urge, but usually I don’t have much time left to start investing all over again when I get in that mood ;) If I tracked stocks more and knew what I was doing, I’d probably trade at least a cple times a year.
    @Techbud – Haha…. I should, and see what my Wife says about that.
    @retirebyforty -Yeah, mortgage B-L-O-W-S. I’ll work on getting rid of it at some point. It’s the one and only thing that I have left to really fix. Bleh.

  15. FB @ December 2, 2010 at 5:45 PM

    OH NO! Please don’t play the lottery again. :) It’s just.. you know, the 1 in 3.5 million chance you’ll get to win that makes me think: Arg.. just buy a candy bar instead.

    Awesome net worth! $200k will be a breeze for you.

  16. J. Money December 8, 2010 at 10:30 PM

    Don’t play the lottery again? Do you know who you’re talking to? :) It’s all for entertainment, baby!