Author Topic: Defeat the Net Debt  (Read 79079 times)

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #350 on: August 02, 2021, 01:54:42 AM »
Mortgage (EUR 322K)
Liquid Assets (without house value & company pension) EUR 49K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)

Goal for 2021: (EUR 270K)......

Next month will be the challenge with holiday coming up (and additional spending for this). Just hoping that I can keep away from going backwards.

@Wile E. Coyote CONGRATULATIONS on this big milestone!

Wile E. Coyote

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Re: Defeat the Net Debt
« Reply #351 on: August 02, 2021, 09:47:18 AM »
@Wile E. Coyote CONGRATULATIONS on this big milestone!

Thanks, Dutch Comfort!  Good luck with the holidays! 

TyGuy

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Re: Defeat the Net Debt
« Reply #352 on: August 03, 2021, 09:41:24 AM »
@Wile E. Coyote CONGRATULATIONS on this big milestone!

Thanks, Dutch Comfort!  Good luck with the holidays!

I second the Congratulations, what a great milestone to reach!

TyGuy

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Re: Defeat the Net Debt
« Reply #353 on: August 03, 2021, 09:57:29 AM »
Debts:
Mortgage: 243,716

Student Loans: 21,456 (Currently in Forbearance)


Assets:
Savings: $1,501
Taxable 1: $4,835
Taxable 2: $2,039


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)


Another month moving in the right direction, the numbers should continue to increase in speed in their downward plunge in the coming months!

joe189man

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Re: Defeat the Net Debt
« Reply #354 on: August 04, 2021, 09:34:01 AM »
March 2021    
Net Debt: -$476,026.90 + $26,449.24 = -$449,577.66
Net All:  -$476,026.90 + $431,363.43 + 26,449.24 = -$18,214.23
Net incl. House: ~$598,731.00

April 2021 update
Net Debt: -$474,369 + $27,063 = -$447,306 (+$2,272)
Net All: -$474,369 + $444,994 + $27,063   = -$2,312 (+$15,902)
Net incl. House: ~$614k (+~$15k)

May 2021 Update
Net Debt: -$472,153 + $21,168 = -$450,985 (-$3,679) - Taxes were brutal this year
Net All: -$472,153 + $461,598 + $21,168  = $10,613 (+12,925) - Positive overall
Net incl. House: ~$633k

June 2021 Update
Net Debt: -$461,929 + $20,887 = -$441,042 (+$9,943)
Net All: -$461,929 + $493,133 = $31,841 (+$21,228)
Net incl. House: ~$650k

July 2021 Update
Net Debt: (-$423,426-$35,058) = -$458,484 + $22,738 = -$435,746 (+$5,296) (+$13,832 since i started tracking)
Net All: -$458,484 + $520,857 = $62,373 (+$30,532)
Net Incl. House: ~$679k

Once the car and student loans are paid off (~$35k) this may take some time to get exciting as building the taxable and savings from ~$23k now to ~$400k +/- of the mortgage will take years

frugalecon

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Re: Defeat the Net Debt
« Reply #355 on: August 04, 2021, 08:14:15 PM »
@Wile E. Coyote CONGRATULATIONS on this big milestone!

Thanks, Dutch Comfort!  Good luck with the holidays!

I second the Congratulations, what a great milestone to reach!

As the OP of this thread, I am delighted to see others defeat the net debt.

Wile E. Coyote

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Re: Defeat the Net Debt
« Reply #356 on: August 04, 2021, 09:17:58 PM »
I second the Congratulations, what a great milestone to reach!

As the OP of this thread, I am delighted to see others defeat the net debt.

Thanks, @TyGuy and @frugalecon!  It feels great!  This thread makes me very happy, so I plan on sticking around to celebrate with others!

Arbitrage

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Re: Defeat the Net Debt
« Reply #357 on: August 19, 2021, 04:17:00 PM »
First house sold!  Big changes...

Mortgages/HELOC: $(372.0k) -> $(1,067k) -> $(544k)
Student Loan: $(27.1k) -> $(26.3k) -> $(25.5k)
Taxable: $313.3k -> $273.2k -> $673.7k

Net: $(85.8k) -> $(820.1k) -> $104.2k

Jan 2019: ($290.2k)
Apr 2019: ($278.4k)
Sep 2019: ($248.7k)
Dec 2019: ($217.3k)
Jul 2020: ($191.8k)
Jan 2021: ($85.8k)
Apr 2021: ($820.1k)
Aug 2021: $104.2k

I suppose that the net debt has been defeated. 

joe189man

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Re: Defeat the Net Debt
« Reply #358 on: August 19, 2021, 04:39:39 PM »
First house sold!  Big changes...

Mortgages/HELOC: $(372.0k) -> $(1,067k) -> $(544k)
Student Loan: $(27.1k) -> $(26.3k) -> $(25.5k)
Taxable: $313.3k -> $273.2k -> $673.7k

Net: $(85.8k) -> $(820.1k) -> $104.2k

Jan 2019: ($290.2k)
Apr 2019: ($278.4k)
Sep 2019: ($248.7k)
Dec 2019: ($217.3k)
Jul 2020: ($191.8k)
Jan 2021: ($85.8k)
Apr 2021: ($820.1k)
Aug 2021: $104.2k

I suppose that the net debt has been defeated.

Awesome Congratulations!

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #359 on: August 27, 2021, 08:14:53 AM »
August Update:

Debts:
$15200 > $15300
$0 > $80500
$12900 > $128000
$150000 > $150900
$155000> $153800
$250000 > $250000

Assets:
$23300 > $241500
$207200 > $226000

Totals $467500 - $778500 = -$311000

Pretty much right back where we started two years ago. On the plus side, the reason I've not updated in a while is that I've been super busy. The house renos (which at this point are effectively a gut and rebuild job on about 80% of the structure) are nearing completion and the house is hitting the market in about two or three weeks for about $520k. With the way the market has been in my region, $50k over asking is not unrealistic. Mathematically-inclined readers will note that selling the house will move me from a net debt of about $310k to a net positive of $200k+. I've also relocated halfway across the country, back to my home region, where a comparable house is $180k and I can rent for peanuts. The new job is a 20% raise over the old one, with more interesting projects, a virtually unlimited creative license, and excellent growth prospects. Oh and I'm getting another degree, so that I can get the additional professional qualifications I need to manage a project which is likely to become a decade-long restructuring of infrastructure management policies in my region. This is ten years of grinding finally starting to pay dividends. Hoping my next update is the last one in this thread!

Spoiler: show
Past history:
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000
August 2021: $311000

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #360 on: September 01, 2021, 02:58:47 AM »
Mortgage (EUR 322K)
Liquid Assets (without house value & company pension) EUR 49K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)
August 2021 (EUR 273K)

Goal for 2021: (EUR 270K)......

Still on track. Happy that summer holidays and back to school expenses did not take a big bite out of the stash and we could keep the total debt the same.

Congratulations @Arbitrage! No more debt for you!

joe189man

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Re: Defeat the Net Debt
« Reply #361 on: September 01, 2021, 10:10:30 AM »
The same day as my last post we initiated a cash out refinance, see last update below

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/defeat-the-delta/msg2882627/#msg2882627

The result of that action was several debts are gone, freeing up ~$950 a month in cash flow, but increasing the mortgage payment by $150 a month, for a net positive of~$700 a month

September 1, 2021
Debts
Mortgage - $465,000 (30 year @ 2.875%)
Student Loan 1 - $15,827
Total Debt - $480,827

Cash/Taxable
Cash - $20,050
Taxable - $5,122
Total - $25,172

Net debt
$25,172 - $480,827 = -$455,655 (-$19,909 from last month)

Total Investable Assets and Cash
$540,398

Total Net All
$540,398 - $455,655 = $84,743 ($22,370+ MoM)

The net result of the refinance is by end of year, the student loan will be paid in full, and we should be putting $30k+ per year in the brokerage

I guesstimate that by ~2028 the Brokerage account will equal the remaining mortgage balance, i may do annual updates from here on out


TyGuy

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Re: Defeat the Net Debt
« Reply #362 on: September 02, 2021, 02:21:39 PM »
Debts:
Mortgage: 242,465

Student Loans: 21,456 (Currently in Forbearance)


Assets:
Savings: $1,601
Taxable 1: $4,999
Taxable 2: $2,222


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)


I will likely max out my 401k this month and should begin to see significant increases in my taxable accounts after that! Keep up the steady progress everyone!

Wile E. Coyote

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Re: Defeat the Net Debt
« Reply #363 on: September 02, 2021, 07:25:35 PM »
First house sold!  Big changes...

Mortgages/HELOC: $(372.0k) -> $(1,067k) -> $(544k)
Student Loan: $(27.1k) -> $(26.3k) -> $(25.5k)
Taxable: $313.3k -> $273.2k -> $673.7k

Net: $(85.8k) -> $(820.1k) -> $104.2k

Jan 2019: ($290.2k)
Apr 2019: ($278.4k)
Sep 2019: ($248.7k)
Dec 2019: ($217.3k)
Jul 2020: ($191.8k)
Jan 2021: ($85.8k)
Apr 2021: ($820.1k)
Aug 2021: $104.2k

I suppose that the net debt has been defeated.

Awesome Congratulations!

Yes, congratulations, Arbitrage!!  I love to see the net debt defeated!

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #364 on: September 19, 2021, 05:50:47 AM »
August Update:

Debts:
$15300 > $15400
$0>$29700
$80500 > $80500
$128000 > $127200
$150900 > $150900
$153800> $153500
$250000 > $250000

Assets:
$241500 > $239200
$226000 > $227300

Totals $466500 - $807200 = -$340700

One more update necessary. The house is on the market though, and I've found a place to rent in my new city that is less than half of what I was paying for upkeep on the house. Hoping for a good offer!

Spoiler: show
Past history:
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000
August 2021: $311000
September 2021: $340700

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #365 on: October 01, 2021, 03:11:09 AM »
Mortgage (EUR 322K)
Liquid Assets (without house value & company pension) EUR 50K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)
August 2021 (EUR 273K)
September 2021 (EUR 272K)

Goal for 2021: (EUR 270K)......

Slow and steady wins the race....... Still working towards my 2021 goal and it seems doable!
Already got 20K done this year, which feels like a huge amount!

« Last Edit: October 01, 2021, 03:27:59 AM by Dutch Comfort »

joe189man

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Re: Defeat the Net Debt
« Reply #366 on: October 01, 2021, 10:35:11 AM »
The same day as my last post we initiated a cash out refinance, see last update below

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/defeat-the-delta/msg2882627/#msg2882627

The result of that action was several debts are gone, freeing up ~$950 a month in cash flow, but increasing the mortgage payment by $150 a month, for a net positive of~$700 a month

September 1, 2021
Debts
Mortgage - $465,000 (30 year @ 2.875%)
Student Loan 1 - $15,827
Total Debt - $480,827

Cash/Taxable
Cash - $20,050
Taxable - $5,122
Total - $25,172

Net debt
$25,172 - $480,827 = -$455,655 (-$19,909 from last month)

Total Investable Assets and Cash
$540,398

Total Net All
$540,398 - $455,655 = $84,743 ($22,370+ MoM)

The net result of the refinance is by end of year, the student loan will be paid in full, and we should be putting $30k+ per year in the brokerage

I guesstimate that by ~2028 the Brokerage account will equal the remaining mortgage balance, i may do annual updates from here on out

October 2021

Debts
Mortgage - $465,000 (30 year @ 2.875%)
Student Loan paid in full

Cash/Taxable
Cash - $27,075
Taxable - $9,980
Total - $37,055

Net debt
$37,055 - $465,000 = -$427,945 ($27,710 MoM change)

We are still thinking 2027 to 2028 to have the brokerage equal the mortgage

We are shooting for FIRE around ~3 years later ~2031 - 4 years ahead of my last guesstimate

ETA:

Since my first post here in march our total net debt has decreased ~$21,600 and we have freed up ~$1,100 a month in debt payments that are now paid off.
« Last Edit: October 01, 2021, 10:42:00 AM by joe189man »

TyGuy

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Re: Defeat the Net Debt
« Reply #367 on: October 01, 2021, 11:09:23 AM »
Debts:
Mortgage: 241,213

Student Loans: 21,456 (Currently in Forbearance)


Assets:
Savings: $1,602
Taxable 1: $5,363
Taxable 2: $1,886


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
              OCT 2021 ($253,818)


Less than $600 of space left in my 401k for the year which means I will have additional found to put into my taxable beginning on my next pay check until the end of the year. Additionally, I would like to get my cash savings up to 5k by years end, as an increased emergency fund. Lastly, my goal for the end of the year is to have a net debt of less than 248k.

diapasoun

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Re: Defeat the Net Debt
« Reply #368 on: October 08, 2021, 03:04:14 PM »
I'm gonna sidle on in here as one of the little peanuts in this thread....

Taxable: $0
Debt: $28,396.63

I just got to the point this last year where I had a positive net worth, my EF fully funded, my car loan paid off, and my HSA and my 401k maxed. This next year, I'd like to max the HSA and 401k, start and max a Roth IRA, and (stretch goals!) start contributing to a taxable account. Doing that would be about half my take-home income.

Lil peanuts checking in a few years later! Just this year I started being able to save enough to go beyond maxing a 401k and an IRA, and just started a taxable account (plus I've been continually paying down the student loans....).

Taxable: $1,484.91
Debt: $11,414.15

Net: -$9,929.24

I'm hoping that in the next six months I'll have defeated the net debt just with the taxable account alone! \o/

(Of course, this is in preparation for my partner and I buying a house... which will explode that again. Still. It's so good to see this fall by 2/3 in just three years!)

frugalecon

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Re: Defeat the Net Debt
« Reply #369 on: October 08, 2021, 08:08:05 PM »
I'm gonna sidle on in here as one of the little peanuts in this thread....

Taxable: $0
Debt: $28,396.63

I just got to the point this last year where I had a positive net worth, my EF fully funded, my car loan paid off, and my HSA and my 401k maxed. This next year, I'd like to max the HSA and 401k, start and max a Roth IRA, and (stretch goals!) start contributing to a taxable account. Doing that would be about half my take-home income.

Lil peanuts checking in a few years later! Just this year I started being able to save enough to go beyond maxing a 401k and an IRA, and just started a taxable account (plus I've been continually paying down the student loans....).

Taxable: $1,484.91
Debt: $11,414.15

Net: -$9,929.24

I'm hoping that in the next six months I'll have defeated the net debt just with the taxable account alone! \o/

(Of course, this is in preparation for my partner and I buying a house... which will explode that again. Still. It's so good to see this fall by 2/3 in just three years!)

Good for you, diapasoun! Itís true that you might once again have net debt, but you will have seen that it can be defeated.

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #370 on: October 15, 2021, 08:25:35 AM »
August Update:

Debts:
$15400 > $15400
$29700>$34800
$80500 > $80500
$127200 > $126400
$150900 > $150900
$153500> $153800
$250000 > $250000

Assets:
$239200 > $244400
$227300 > $223700

Totals $468100 - $811800 = -$343700

I expected more damage to be honest. It's not been an especially good market month, and I had to move money around to finish paying for renovations. The house sold though, and I'm quite satisfied with the price. Just have to wait for closing on November 4th. Hoping to knock out some serious debts at that time.

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000
August 2021: $311000
September 2021: $340700
October 2021: $343700

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #371 on: November 01, 2021, 02:15:50 AM »
Mortgage (EUR 321K)
Liquid Assets (without house value & company pension) EUR 51K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)
August 2021 (EUR 273K)
September 2021 (EUR 272K)
October 2021 (EUR 270K) - GOAL REACHED 2 MONTHS AHEAD!!!!

Goal for 2021: (EUR 270K) - DONE on 31 October!

YEAH!!!!!! Managed to reach my goal 2 months ahead of schedule! Now onto the next goal..... (EUR 250K). I wanted to reach this before the end of 2022. But let's see if I can manage to reach this one earlier as well!

TyGuy

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Re: Defeat the Net Debt
« Reply #372 on: November 01, 2021, 03:39:24 PM »
Debts:
Mortgage: $239,973
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $3,104
Taxable 1: $5,879
Taxable 2: $1,778

2021 Goal: (248K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
              NOV 2021 ($250,668)

Best month since I started tracking here! Next month should be another good one!

frugalecon

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Re: Defeat the Net Debt
« Reply #373 on: November 01, 2021, 07:12:08 PM »
Debts:
Mortgage: $239,973
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $3,104
Taxable 1: $5,879
Taxable 2: $1,778

2021 Goal: (248K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
              NOV 2021 ($250,668)

Best month since I started tracking here! Next month should be another good one!

Always good to see a young person moving in the right direction! Congrats!

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #374 on: November 08, 2021, 07:27:14 AM »
November Update:

Debts:

$34800>$0
$80500 > $0
$150900 > $0
$250000 > $0

$0 > $7100
$15400 > $15400
$126400 > $101800
$153500> $153800

Assets:
$244400 > $252300
$223700 > $233000

Totals $485300 - $278100 = $207200 (positive)

TIME!!! Looks like we're done! The house is no longer mine. I'm renting now, which allows me to deploy the money that was tied up in renovations and such. I used it to pay off large chunks of debt, which frees up my cash flow, which lowers my stress level. The remaining debt I will carry for a while yet, as it's all leveraged into dividend stocks. I don't see the need for more leveraging right now either, so I don't think I'll increase my debt level again for a while. If I do, you may see me again in this thread, but for now, I wish you all great luck and much fun!

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000
August 2021: $311000
September 2021: $340700
October 2021: $343700
November 2021: -$207200 (negative net, i.e. positive NW)

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #375 on: December 01, 2021, 01:23:53 AM »
Mortgage (EUR 320K)
Liquid Assets (without house value & company pension) EUR 52K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)
August 2021 (EUR 273K)
September 2021 (EUR 272K)
October 2021 (EUR 270K) - GOAL FOR 2021 REACHED 2 MONTHS AHEAD!!!!
November 2021 (EUR 268K)

Goal for 2021: (EUR 270K) - DONE on 31 October!
Goal for 2022: (EUR 250K)

Already planning ahead for 2022. Let's see how we can get the debt down even further!
With the crazy housing market in the Netherlands our NW is now close to EUR 600K. Monopoly money, I know, but so surreal.......

joe189man

  • Pencil Stache
  • ****
  • Posts: 749
Re: Defeat the Net Debt
« Reply #376 on: December 01, 2021, 09:48:55 AM »
October 2021

Debts
Mortgage - $465,000 (30 year @ 2.875%)
Student Loan paid in full

Cash/Taxable
Cash - $27,075
Taxable - $9,980
Total - $37,055

Net debt
$37,055 - $465,000 = -$427,945 ($27,710 MoM change)

December 2021
Debts
Mortgage - $463,358

Cash/Taxable
Cash - $27,200
Taxable - $15,917
Total - $43,117

Net debt
$43,117 - $463,358 = -$420,241 ($7,704  change)

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #377 on: December 02, 2021, 11:38:22 AM »
Debts:
Mortgage: $238,730
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,110
Taxable 1: $6,145
Taxable 2: $1,410

2021 Goal: (248K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)

With my mortgage payment in December, I will reach my goal of 248K for the year by December 31st! I am hoping to make more significant progress here next year, with the goal of paying of my student loans once the interest resumes in February, maybe 200K? I'll have a goal set next time I post here!


Kierun

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  • Posts: 660
  • Location: HI
Re: Defeat the Net Debt
« Reply #378 on: December 06, 2021, 03:18:54 PM »
12/20 - ~(475k)
01/21 - ~(472k)
02/21 - ~(466k)
03/21 - ~(467k)
04/21 - ~(453k)
05/21 - ~(443k)
06/21
Mortgage: ~350k
Mortgage: ~342k

Taxable: ~253k

Net: ~(439k)
12/21
Mortgage: ~342k
Mortgage: ~342k SOLD!!!

Taxable: ~266k

Net: ~(76k)

Goal for 2021: Net ~(115k) Accomplished!!
Currently looking at doing a cash out refi for home improvement so....yeah short lived.

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #379 on: January 03, 2022, 01:49:09 AM »
Mortgage (EUR 320K)
Liquid Assets (without house value & company pension) EUR 60K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)
July 2021 (EUR 273K)
August 2021 (EUR 273K)
September 2021 (EUR 272K)
October 2021 (EUR 270K) - GOAL FOR 2021 REACHED 2 MONTHS AHEAD!!!!
November 2021 (EUR 268K)
December 2021 (EUR 260K)

STRETCH Goal for 2022: (EUR 235K)

A nice December bonus got me to a much lower net debt at the end of the year. I'm challenging myself for 2022 to get to a net debt of EUR 235K!

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #380 on: January 06, 2022, 11:21:30 AM »
Debts:
Mortgage: $237,487
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,117
Taxable 1: $6,469
Taxable 2: $1,189

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)

Reached my goal of 2021! Excited to try to decrease my net debt to 220k in 2022, congrats to everyone on the great year, lets have another in 2022!

joe189man

  • Pencil Stache
  • ****
  • Posts: 749
Re: Defeat the Net Debt
« Reply #381 on: January 06, 2022, 12:01:11 PM »
October 2021

Debts
Mortgage - $465,000 (30 year @ 2.875%)
Student Loan paid in full

Cash/Taxable
Cash - $27,075
Taxable - $9,980
Total - $37,055

Net debt
$37,055 - $465,000 = -$427,945 ($27,710 MoM change)

December 2021
Debts
Mortgage - $463,358

Cash/Taxable
Cash - $27,200
Taxable - $15,917
Total - $43,117

Net debt
$43,117 - $463,358 = -$420,241 ($7,704  change)

January 2022
Debts
Mortgage - $462,534

Cash/Taxable
Cash - $30,225
Taxable - $25,500
Total - $55,225

Net debt
$55,225 - $462,534 = -$407,309 ($12,932  change) ($42,269 swing since march of last year)
« Last Edit: January 06, 2022, 12:03:30 PM by joe189man »

Kierun

  • Pencil Stache
  • ****
  • Posts: 660
  • Location: HI
Re: Defeat the Net Debt
« Reply #382 on: January 08, 2022, 02:28:37 PM »
06/21 - ~(439k)
12/21
Mortgage: ~342k
Mortgage: ~342k SOLD!!!

Taxable: ~266k

Net: ~(76k)
Mortgage: ~339K

Taxable: ~275k

Net: ~(64K)

diapasoun

  • Magnum Stache
  • ******
  • Posts: 4429
  • Location: California
Re: Defeat the Net Debt
« Reply #383 on: January 31, 2022, 04:40:57 PM »
I'm gonna sidle on in here as one of the little peanuts in this thread....

Taxable: $0
Debt: $28,396.63

I just got to the point this last year where I had a positive net worth, my EF fully funded, my car loan paid off, and my HSA and my 401k maxed. This next year, I'd like to max the HSA and 401k, start and max a Roth IRA, and (stretch goals!) start contributing to a taxable account. Doing that would be about half my take-home income.

Lil peanuts checking in a few years later! Just this year I started being able to save enough to go beyond maxing a 401k and an IRA, and just started a taxable account (plus I've been continually paying down the student loans....).

Taxable: $1,484.91
Debt: $11,414.15

Net: -$9,929.24

I'm hoping that in the next six months I'll have defeated the net debt just with the taxable account alone! \o/

(Of course, this is in preparation for my partner and I buying a house... which will explode that again. Still. It's so good to see this fall by 2/3 in just three years!)

Taxable: $4618.17
Debt: $10319.11

Net: $5700.94

We've been keeping a ton of money in non-investments in preparation for house buying... still nice to see this go down, though.

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #384 on: February 01, 2022, 12:56:37 AM »
Mortgage (EUR 318K)
Liquid Assets (without house value & company pension) EUR 59K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)

STRETCH Goal for 2022: (EUR 235K)

First (little) step in the right direction for 2022. We did an additional payment to our mortgage, but markets messed up the liquid assets, so only a small step. But EVERY STEP COUNTS!!!! First small goal will be for our debt to go under EUR 250K. Up to next month. We're still debating whether to up our mortgage payments or to up our liquid assets this year. DH wants to up the liquid assets, while I want to up the mortgage payments to ensure that one part of the mortgage is paid off and this will free up a load of monthly cash earlier. At least we're on the same page for saving (both quite averse to unnecessary spending, but I'm more into the detail and long term, while he really wants to be on the safe side and have all cash as liquid as possible).

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #385 on: February 06, 2022, 02:33:58 PM »
Debts:
Mortgage: $236,241
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,124
Taxable 1: $6,375
Taxable 2: $1,051

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
              FEB 2022 ($246,147)

Happy with the progress to start the year, I will be working on my tax advantage account first, most of my progress will come the second half of the year!

Vashy

  • Bristles
  • ***
  • Posts: 377
Re: Defeat the Net Debt
« Reply #386 on: February 07, 2022, 01:37:43 AM »
Debts:
Mortgage: $236,241
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,124
Taxable 1: $6,375
Taxable 2: $1,051

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
              FEB 2022 ($246,147)

Happy with the progress to start the year, I will be working on my tax advantage account first, most of my progress will come the second half of the year!

Well done! Considering you have a mortgage, are you forgetting to also calculate home equity in your assets? 

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #387 on: February 07, 2022, 10:20:29 AM »
Debts:
Mortgage: $236,241
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,124
Taxable 1: $6,375
Taxable 2: $1,051

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
              FEB 2022 ($246,147)

Happy with the progress to start the year, I will be working on my tax advantage account first, most of my progress will come the second half of the year!

Well done! Considering you have a mortgage, are you forgetting to also calculate home equity in your assets?

Thank you! For the purpose of this challenge, I have chosen not to take into the account the equity I have In my house. I consider the mortgage to be "debt" even though it is more than offset by the value of my house!

Vashy

  • Bristles
  • ***
  • Posts: 377
Re: Defeat the Net Debt
« Reply #388 on: February 07, 2022, 01:21:45 PM »
Well done! Considering you have a mortgage, are you forgetting to also calculate home equity in your assets?

Thank you! For the purpose of this challenge, I have chosen not to take into the account the equity I have In my house. I consider the mortgage to be "debt" even though it is more than offset by the value of my house!
[/quote]

Oh, everybody gets to define the rules of their game - I as think coming from the place where "net debt = negative total net worth", but I might have misunderstood. :) Cheering you (and the others) on in any case!

mckaylabaloney

  • Stubble
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  • Posts: 249
  • Age: 34
Re: Defeat the Net Debt
« Reply #389 on: February 14, 2022, 07:13:55 PM »
I've been toying lately with the idea of paying off my student loans before investing further in my taxable brokerage account (for cash flow reasons), and have been hanging onto a bunch of cash while I decided, but with inflation what it is, and my student loan rate what it is (less than 1%.......lol?), and the market doing what it's doing, I saw the light and dumped the cash in VTSAX today. So:

Student loans: $(77,377.94)
Mortgage: $(255,771.98)

Taxable: $44,067.57

                       2022               
January     $(300,845.55)
February$(289,082.35)
March-
April-
May-
June-
July-
August-
September-
October-
November-
December-
Annual gain

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #390 on: March 01, 2022, 02:57:26 AM »
Mortgage (EUR 316K)
Liquid Assets (without house value & company pension) EUR 57K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)
February 2022 (259K)

STRETCH Goal for 2022: (EUR 235K)

Due to markets, no movement this month. Mortgage went down, but so were the assets. So as soon as the markets pick up again, the net debt will decrease. Let's see how the world looks next month, because last week proved that you never know.

mckaylabaloney

  • Stubble
  • **
  • Posts: 249
  • Age: 34
Re: Defeat the Net Debt
« Reply #391 on: March 01, 2022, 09:45:28 AM »
Student loans: $(76,245.19)
Mortgage: $(255,271.33)

Taxable: $45,051.57

                       2022               
January     $(300,845.55)
February$(289,082.35)
March$(286,464.95)
April-
May-
June-
July-
August-
September-
October-
November-
December-
Annual gain

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #392 on: March 02, 2022, 10:17:43 AM »
Debts:
Mortgage: $234,994
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,131
Taxable 1: $6,678
Taxable 2: $1,067

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
               FEB 2022 ($246,147)
               MAR 2022 ($244,574)

My ROTH IRA will be maxed out in March and I will then be able to contribute significantly more to my taxable account in March/April and should see sustained progress here throughout the year!

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #393 on: April 01, 2022, 01:43:22 AM »
Mortgage (EUR 315K)
Liquid Assets (without house value & company pension) EUR 58K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)
February 2022 (259K)
March 2022 (257K)

STRETCH Goal for 2022: (EUR 235K)

A nice standard month for investing and paying down mortgage. The goal is still doable, but let's see what the markets have in store for the rest of the year.

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #394 on: April 01, 2022, 12:21:27 PM »
Mortgage (EUR 315K)
Liquid Assets (without house value & company pension) EUR 58K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)
February 2022 (259K)
March 2022 (257K)

STRETCH Goal for 2022: (EUR 235K)

A nice standard month for investing and paying down mortgage. The goal is still doable, but let's see what the markets have in store for the rest of the year.


Steady progress will get you to your goals, keep it up!!

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #395 on: April 01, 2022, 12:25:01 PM »
Debts:
Mortgage: $233,744
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,138
Taxable 1: $7,057
Taxable 2: $903

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
               FEB 2022 ($246,147)
               MAR 2022 ($244,574)
               APR 2022 ($243,102)

My ROTH IRA is now fully funded for the year so I will now be able to divert more cash to savings and taxable investments!

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #396 on: May 03, 2022, 03:04:16 AM »
Mortgage (EUR 314K)
Liquid Assets (without house value & company pension) EUR 60K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)
February 2022 (259K)
March 2022 (257K)
April 2022 (254K)

STRETCH Goal for 2022: (EUR 235K)

Nice decrease this month, due to a tax refund! I just bought a few more stocks on sale from my current account, so here is to hoping it will go back up soon!


TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #397 on: May 08, 2022, 07:39:07 PM »
Debts:
Mortgage: $232,493
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,146
Taxable 1: $7,354
Taxable 2: $738

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
               FEB 2022 ($246,147)
               MAR 2022 ($244,574)
               APR 2022 ($243,102)
               MAY 2022 ($241,711)

I'll continue to buy the dip with any extra cash I can find, with hopes of making my goal by the end of the year!

Dutch Comfort

  • Bristles
  • ***
  • Posts: 295
  • Location: Europe
Re: Defeat the Net Debt
« Reply #398 on: June 01, 2022, 01:53:12 AM »
Mortgage (EUR 313K)
Liquid Assets (without house value & company pension) EUR 63K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)
December 2021 (EUR 260K)

January 2022 (259K)
February 2022 (259K)
March 2022 (257K)
April 2022 (254K)
May 2022 (250K)

STRETCH Goal for 2022: (EUR 235K)

This was a good month! Not for stocks (although I'm still buying on sale....), but we had an insurance refund and holiday pay came in. So the first EUR 10K decrease of net debt of this year is done!

TyGuy

  • Stubble
  • **
  • Posts: 241
  • Age: 28
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #399 on: June 03, 2022, 11:33:29 AM »
Debts:
Mortgage: $231,240
Student Loans: $21,456 (Currently in Forbearance)


Assets:
Savings: $4,154
Taxable 1: $8,513
Taxable 2: $691

2021 Goal: (248K)
2022 Goal: (220K)


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
               JLY  2021 ($258,370)
               AUG 2021 ($256,797)
               SEP 2021 ($255,099)
               OCT 2021 ($253,818)
               NOV 2021 ($250,668)
               DEC 2021 ($248,521)
               JAN 2022 ($247,168)
               FEB 2022 ($246,147)
               MAR 2022 ($244,574)
               APR 2022 ($243,102)
               MAY 2022 ($241,711)
               JUN 2022 ($239,338)