Another month down. I can’t believe that the year is almost over. Next month, I will post my update looking at both change from right now and also from the beginning of the year. It should be interesting to see how that turns out!
Overall, this was a good month. Assets are up, debts are down. So of course, net worth is also up! By almost a grand! We did some Christmas shopping, and have some more to go, which is hurting the “pay off the wife’s credit card” plan.
Going forward, I have to admit, I’m a little worried. There are going to be some changes in the next couple months that I will share when they come to fruition. Nothing official has been decided yet, so it’s too soon to share anything. But expenses are going to change (and no, I’m not getting a divorce or having a baby).
The other change that has me worried is my student loan. I have two, one at about $27,000 and the other around $5,000. The larger one, well, the payments are going to more than double next month. I was on a hardship plan where I was paying just over interest. My principal was going down at $9 per month. Obviously that couldn’t last forever, because it would take 250 years to pay off! But that hardship plan is expiring. Minimum payments will go from $89 to $181. This $92 increase comes at a bad time because I’m about to be getting laid off. We will be able to swing it, but just.
Assets:
Cash $3103 Down $67 Most of my wife’s 5th paycheck was counter-acted by the third car payment. And my 5th paycheck was only $47 from only working one day during the week of Thanksgiving.
Retirement Savings $6958 Up $239. Unfortunately, my plan to increase my IRA contribution may hit a brick wall with that student loan payment increase.
Car: $0 Still junk. 13 payments to go!
Home $20,000
TOTAL ASSETS: $30,802
Liabilities:
Cirrus car loan: $1523 Down $405 There were three payments this month which hurt the budget, but I like seeing this number go down.
Credit Cards: $4881 Up $70 We did make the usual payments, but Christmas shopping kind of got in the way.
Student Loans: $31,839 Down $54 Expect these numbers to change faster than they have previously.
Outstanding Medical Bills: $5737 Down $9
Home Loan: $15,707 Down $78
TOTAL LIABILITIES: $59,504
NETWORTH: -$27,702
