I realize this net worth update is nearly a week late, but last week’s posts were a little more timely that this one. I figure the 7th is close enough. I still can’t believe that 2012 is over already. It, and my first year as a PF blogger, flew by. Now it’s time to start collecting tax documents. I remember one year I talked my boss into preparing the W-2 as soon as the last paycheck of the year was cut and I had already filed by this time! Well, the time when filing my tax return was as simple as one form are behind me.
January is going to be an extremely rough month for us. We finally found a new place! But we had to put down a $1300 deposit and our first month’s rent is due in just over 3 weeks. But we still have a mortgage and lot rent for this place! To make matters worse, because we broke our lease on the lot early, we have to be out of here by the 19th, meaning that we will need to stay at a hotel for nearly 2 weeks. So basically, this month we have to pay for three different living spaces.
To make the rent on the new place work, we are picking up a second roommate. Luckily, the space is larger. The main level is only 50 sq ft larger, but there is nearly 1000 sq ft of finished space in the basement, meaning that I can set my office up down there to accommodate the loss of the 3rd bedroom as an office.
But putting the future aside, 2012 worked out to be a decent year. December was a little rough, but we came out ahead. And I guess that’s all that counts in the end.
Here is the change from the end of November.
Cash $3484 Up $381
Retirement Savings $7121 Up $163. Finally broken the $7k mark. If 2013 is a good year, we could see 5 figures by the end of the year.
Car: $0 Still junk.
TOTAL ASSETS: $31,358
Cirrus car loan: $1250 Down $273. By the end of the month, it will be under $1000!
Credit Cards: $4838 Down $43
Student Loans: $31,687 Down $152. Exciting to see this number going down by three digits now, even if it is putting more stress on the budget.
Outstanding Medical Bills: $5655 Down $82
Home Loan: $15,628 Down $379
TOTAL LIABILITIES: $59,058
Below are are the changes from the beginning of 2012. Instead of showing today’s numbers all over again, I’ll just post the moves from Jan 1 to Dec 31. Despite buying a mobile home last year and increasing our total debt by a third, our net worth is now more than $2000 higher than it was when 2012 begain. That may seem like a small change to some people, but considering all of the setbacks we faced last year, that is a huge improvement.
Cash -$76 At the begining of the year, we had $5000 set aside for a down payment. That is now is the value of the house. Taking that into account, this is a really good number.
Retirement Savings +$2254
Car: -$3796 We went from having two cars with a KBB value to one car that is considered in “poor” condition and KBB will not provide a number for.
Home +$20,000 From zero to the value of the home
TOTAL ASSETS: +$15,388
Cirrus car loan: -$3263
Credit Cards: -$100 Okay, we didn’t do very well here. But I’m dedicated to getting all credit card balances to zero by the end of the year.
Student Loans: -$703
Outstanding Medical Bills: +$1574 Having to get another medical loan really hurt us, but this number is only half of that loan!
Home Loan: +$15,628 From no loan, to having a loan.
TOTAL LIABILITIES: +$13,128