Post by: 737MX on April 16, 2017, 08:40:09 PM
I'd like to break this down into an even smaller increment: Race to 0.
Post by: BobTheBuilder on April 17, 2017, 04:02:00 AM
Making only 1800 after taxes on my current Ph.D. candidate position, so starting slowly...
April 2017:
Federal student loan 1: -9370 current rate 315 per Quarter
Federal student loan 2: -3945 on hiatus until November 17, interest <1%
Bank loan and credit card: -3200 at 5% and 0% (CC until June) (first to go)
Investments and car: 5500
Liquidity: 600
Net worth: -10415
Post by: Trifle on April 17, 2017, 04:45:55 AM
Post by: BobTheBuilder on April 18, 2017, 01:26:32 PM
Hey there -- maybe you could join the Race to 10k thread. Lots of folks there in negative territory. Great group, lots of hustle.
Same here, will hopefully join that group next year!
Will you be throwing all extra money towards the loans or splitting it with investing as well?
Hey SeaKayEl, I do not yet have absolute certainty what my job situation will be on Jan 1st. Most likely a short extension on the study programme with same income, maybe an income boost, or maybe a minor financial hickup with a few weeks of job search. So I will definitively kill that bank loan which I hate and try to bolster my cash cushion. Btw I assume my car depreciates with 100/month. Although it may be less.
For you it is most likely a mix of student loan and investing? Thumbs up on that investing account!
Post by: recklesslysober on April 18, 2017, 04:19:19 PM
Net Worth
01/2016: -$130K - YNAB
02/2016: -$128K
03/2016: -$121K
04/2016: -$120K
05/2016: -$120K
06/2016: -$120K - MMM
07/2016: -$120K
08/2016: -$120K
09/2016: -$118K
10/2016: -$117K
11/2016: -$115K - MMM Journal
12/2016: -$111K
01/2017: -$108K
02/2017: -$106K
03/2017: -$93K
04/2017: -$90K
05/2017: -$88K?
GOAL: -$50K by 05/2018
GOAL: $0K by 12/2019
Post by: recklesslysober on April 18, 2017, 07:19:14 PM
I'm on this track too - it will be so nice to hit $0!
Net Worth
01/2016: -$130K - YNAB
02/2016: -$128K
03/2016: -$121K
04/2016: -$120K
05/2016: -$120K
06/2016: -$120K - MMM
07/2016: -$120K
08/2016: -$120K
09/2016: -$118K
10/2016: -$117K
11/2016: -$115K - MMM Journal
12/2016: -$111K
01/2017: -$108K
02/2017: -$106K
03/2017: -$93KGOAL: -$100K by 03/2017
04/2017: -$90K
05/2017: -$88K?
GOAL: -$50K by 05/2018
GOAL: $0K by 12/2019
Awesome job killing it this year already!! I have not calculated when I should hit $0 net worth yet. Sounds like a good idea to calculate :D
Thanks! It will be interesting to see how close I am to my estimate.
Post by: Capt j-rod on April 18, 2017, 07:40:49 PM
Post by: Optimiser on April 27, 2017, 05:22:48 PM
Post by: SwordGuy on April 27, 2017, 09:33:53 PM
Here's a hint: List your interest rates along with your debt.
And also list what new thing you could do to increase income or decrease expenses next month...
Post by: ElleFiji on April 28, 2017, 06:47:21 AM
Student loan is -18k
TFSA savings is 5048
Chequing is 1200
RRSP is 227.11
TFSA investing is 186.25
May 1 net worth is about -11338.64
December 2015 NW was -28000
Post by: Optimiser on April 28, 2017, 01:16:19 PM
12/31/2011: $18,719
12/31/2012: $23,793 Income: 20k/yr.
12/31/2013: -$57,156 Started grad school financed by loans and got married and to a wife with a lot of student loans
12/31/2014: -$71,684 Still in grad school - more loans. Found MMM.
12/31/2015: -$68,111 Graduated and started working in June.
12/31/2016: -$61,128
January: -57,500
February: -58,300
March: -50,400
End of March break down:
Student Loan -43,200 3.04%
Student Loan -45,700 5.61%
Investments 22,700
Cash 10,200
Cars 5,500
We just finished paying off a student loan that was 7.125%. I'm on the fence about paying down the 5.61% loan or investing. Right now I'm leaning toward maxing our tIRAs, and then putting anything extra we can scrape together toward the loan.
Post by: mustache you a question on April 28, 2017, 02:42:29 PM
A little history:
12/31/2011: $18,719
12/31/2012: $23,793 Income: 20k/yr.
12/31/2013: -$57,156 Started grad school financed by loans and got married and to a wife with a lot of student loans
12/31/2014: -$71,684 Still in grad school - more loans. Found MMM.
12/31/2015: -$68,111 Graduated and started working in June.
12/31/2016: -$61,128
January: -57,500
February: -58,300
March: -50,400
End of March break down:
Student Loan -43,200 3.04%
Student Loan -45,700 5.61%
Investments 22,700
Cash 10,200
Cars 5,500
We just finished paying off a student loan that was 7.125%. I'm on the fence about paying down the 5.61% loan or investing. Right now I'm leaning toward maxing our tIRAs, and then putting anything extra we can scrape together toward the loan.
Have you looked at Sofi? Check the front page for a referral link, you get a $300 bonus for signing up! I refinanced my student loans and was able to get my interest rate to 4.99.
Post by: Vindicated on April 28, 2017, 02:57:14 PM
Most of my debt is Student Loans, for a Masters in Education I don't even use. Although, I plan to go back into teaching in ~15yrs when I have a nice nest egg and no debt.
Sep 2016 = -$65,647
Oct 2016 = -$63,503
Nov 2016 = -$62,024 Discovered MMM
Dec 2016 = -$59,969
Jan 2017 = -$58,670 Job Changed Lowering Income ~$500/mo :(
Feb 2017 = -$57,447
Mar 2017 = -$53,518 Taxes! Woohoo!
Apr 2017 = TBD
Sadly, I'm no longer traveling to customers, so I've lost my fat mileage reimbursement numbers. I'm working on getting into a new job though. I miss my previous role. Anyone hiring technical salesmen in the Indianapolis area? :D
Good luck to all my fellow seekers of ZERO!
Post by: Vindicated on April 28, 2017, 03:02:10 PM
It appears the closest race to my current state is "Race to 10k."
I'd like to break this down into an even smaller increment: Race to 0.
Here is my rough breakdown of where I am at today:
April 2017
Student Loans: -$124,000
Mortgage: -$133,000
Investments: $88,000
Net Worth: -$170,000
Question. Shouldn't your home value be counted in this? If your home is worth $150,000, your Net Worth would be -$20k right?
Post by: BobTheBuilder on April 29, 2017, 04:20:52 AM
April 2017:
Federal student loan 1: -9370
Federal student loan 2: -3946
Bank loan and credit card: -3208
Investments, car and liquidity: 6152
Net worth: -10382
Had a little luck with unexpected money, but car maintenance was more expensive than hoped for.
Target for May: crush 10k and never look back!
Post by: Ashleylizbeth on April 29, 2017, 05:45:00 PM
I currently have a NW of -$20,534 ($19,699 in savings and 401k and $40,234 in SL and small CC)
I have been contributing 16% to my 401K and today decided to up that to 21% ( 3% employer match)
I am hoping to hit zero sometime next year.
Good Luck everyone!!
Post by: ElleFiji on April 29, 2017, 06:58:08 PM
Hi there! I am a LONG time lurker and finally have a thread I can post in.Zero in a year? That will be amazing!
I currently have a NW of -$20,534 ($19,699 in savings and 401k and $40,234 in SL and small CC)
I have been contributing 16% to my 401K and today decided to up that to 21% ( 3% employer match)
I am hoping to hit zero sometime next year.
Good Luck everyone!!
Post by: Optimiser on May 01, 2017, 09:28:16 AM
End of March break down:
Student Loan -43,200 3.04%
Student Loan -45,700 5.61%
Investments 22,700
Cash 10,200
Cars 5,500
End of April:
Student Loan -43,100 3.04%
Student Loan -45,700 5.61%
Investments 23,500
Cash 16,400
Cars 5,000
+6696.69 This is not a typical month income wise, but it sure feels good to see a jump like this.
Just calculated we are up over 17k YTD. That is blowing my mind!
Post by: recklesslysober on May 01, 2017, 12:39:57 PM
04/2017: -$90,326.48
+$2,721.41 (2.9%)
Post by: Fiscal_Hawk on May 01, 2017, 01:18:32 PM
It appears the closest race to my current state is "Race to 10k."
I'd like to break this down into an even smaller increment: Race to 0.
Here is my rough breakdown of where I am at today:
April 2017
Student Loans: -$124,000
Mortgage: -$133,000
Investments: $88,000
Net Worth: -$170,000
Question. Shouldn't your home value be counted in this? If your home is worth $150,000, your Net Worth would be -$20k right?
I was thinking the same thing. Assets - Liabilities. Value of house minus the mortgage owed.
Unless OP is upside down $133k on the house.
Post by: ElleFiji on May 01, 2017, 02:04:06 PM
Well hello my people. I will happily join in this race.Student loan is -19.5 and chequing was spent on things. So my correct number is -14.5k
Student loan is -18k
TFSA savings is 5048
Chequing is 1200
RRSP is 227.11
TFSA investing is 186.25
May 1 net worth is about -11338.64
December 2015 NW was -28000
Still getting better all the time!
Post by: westtoeast on May 01, 2017, 02:51:45 PM
I'm in a weird spot because I'm hoping to get some student loan forgiveness in 2.5 years (for 5 years teaching in a low-income school). Instead of throwing all my extra income at debt, I've calculated the amount I need to pay each month so that I have exactly the forgiveness amount left over in 2.5 years. So despite having debt, I'm growing my stash through decent sized contributions to retirement accounts and working my way to an emergency fund of $10,000. I'd like to join in this thread, however, because it's nice to connect with others who are in the negative numbers right now AND because I want to save enough in non-retirement accounts that I can immediately pay off my debt IF something changes in my work situation or if the government no longer funds the program I'm counting on.
2011: -38,000 (graduated with BA in History, took AmeriCorps position & deferred payments)
2012-2014: -39,000 (entered 1.5 year graduate program, free w/ living stipend, continued to defer payments)
2014: -40,000 (started full-time teaching job, I enter an income-based repayment plan that declares minimum payments are 0)
** why oh why didn't I pay at least the interest??
2015: -41,000 (lowest point-- now paying larger minimum payments due to increased income)
2016: -39,000 (I discover MMM, start crushing smaller private loan and double payments to federal loans)
2017: -24,500 (results after 1 year of MMM... wow, I hadn't realized just how much I'd paid off!)
Current Situation:
Debts: -$24,500
Assets: $4,800 (Emergency Fund); $8,000 (Investment Accounts); $15,000 (Pension)
Plan of Action:
Step One: Increase loan payments to 2.5x minimum (ETA September 2017, getting a raise)
Step Two: Achieve EF of $10,000 (ETA August 2017)
Step Three: Divert all post-investment extra income to a "loan contingency plan" savings account
Post by: Vindicated on May 02, 2017, 06:24:33 AM
Net Worth: $77,757.34
Ummmmmmm.....I know I just created this thread....but I can't wait to be able to graduate to the next level up!
Congratulations!
Haha.
Post by: Optimiser on May 02, 2017, 08:51:00 AM
Post by: Fiscal_Hawk on May 02, 2017, 10:20:42 AM
It appears the closest race to my current state is "Race to 10k."
I'd like to break this down into an even smaller increment: Race to 0.
Here is my rough breakdown of where I am at today:
April 2017
Student Loans: -$124,000
Mortgage: -$133,000
Investments: $88,000
Net Worth: -$170,000
Question. Shouldn't your home value be counted in this? If your home is worth $150,000, your Net Worth would be -$20k right?
I was thinking the same thing. Assets - Liabilities. Value of house minus the mortgage owed.
Unless OP is upside down $133k on the house.
Wow, how could I have overlooked this? I also haven't added my two cars either. I'm such a rookie.
End of April Update (Revised):
Student Loans: -$122,551.68
Mortgage: -$133,024.59
House Value: $213,725 (Zillow Estimate)
Car 1: $7,500 (Edmunds Estimate)
Car 2: $10,300 (Edmunds Estimate)
Investments: $101,808.61
Net Worth: $77,757.34
Ummmmmmm.....I know I just created this thread....but I can't wait to be able to graduate to the next level up!
That's quite the turnaround in just a few days:)
Now I will say that for me personally, I don't include vehicles in my asset category only because I don't need them like I do a place to live. However, that part is totally up to you.
Also, in valuing a house you can do it two ways:
1) Current market value minus mortgage owed (such as you did)
OR
2) What you paid for the house minus mortgage owed.
Neither way is wrong. Number 2 is just a more conservative way (most of the time) of calculating it.
Regardless, great job on turning things around and continue to increase that Net Worth!!!
Post by: Optimiser on May 02, 2017, 10:47:24 AM
Now I will say that for me personally, I don't include vehicles in my asset category only because I don't need them like I do a place to live. However, that part is totally up to you.
I agree that this is a personal decision. The reason I like including my cars in my net worth is that it makes the depreciation hurt when I have to write the cars down a little more each month. A constant reminder that cars are a drag on my net worth. This discourages me from buying a more expensive car, although seeing the big NW hit if I paid cash for a newer car would probably accomplish the same thing.
Post by: lexde on May 05, 2017, 08:04:37 PM
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
Post by: BobTheBuilder on May 06, 2017, 09:14:45 AM
I agree that this is a personal decision. The reason I like including my cars in my net worth is that it makes the depreciation hurt when I have to write the cars down a little more each month. A constant reminder that cars are a drag on my net worth. This discourages me from buying a more expensive car, although seeing the big NW hit if I paid cash for a newer car would probably accomplish the same thing.
Exactly. My car is included in net worth too, because of a) If I lost my job, I would not need a car -> Sell it and poof, the loan is gone too b) I write down 100 per month. I am not upside down on my car, of course.
Post by: BobTheBuilder on May 06, 2017, 09:18:56 AM
Net Worth: $77,757.34
Ummmmmmm.....I know I just created this thread....but I can't wait to be able to graduate to the next level up!
Have fun in the race to 100k, and thanks for making this thread :-D
Post by: Abooki on May 09, 2017, 08:59:26 AM
Here are my stats:
-$52452.56 --> student loans
-$3381--> stupid car loan.(got a cheap 2006 Honda Civic but got a car loan since I didn't know better then)
+$28916.02 --> 401k
Networth: -$26917.9
Goal: Debt free before 2019.
Post by: Vindicated on May 09, 2017, 01:35:44 PM
Sep 2016 = -$65,647
Oct 2016 = -$63,503
Nov 2016 = -$62,024 Discovered MMM
Dec 2016 = -$59,969
Jan 2017 = -$58,670 Job Changed Lowering Income ~$500/mo :(
Feb 2017 = -$57,447
Mar 2017 = -$53,518 Taxes! Woohoo!
Apr 2017 = -$52,280
Post by: BobTheBuilder on May 24, 2017, 06:42:15 AM
Post by: BobTheBuilder on May 30, 2017, 11:47:40 AM
May 2017:
Federal student loan 1: -9370
Federal student loan 2: -3947
Bank loan and credit card: -2998
Investments, car and liquidity: 6463
Net worth: -9852
Had to get my cars' exhaust pipe fixed, but also had tax returns and a lot of different stuff going on. So all in all im good with the progress :-) 9.5k here we go, June will be about getting this credit card out of the way.
How are you guys doing?
Post by: Optimiser on June 01, 2017, 09:47:35 AM
End of April:
Student Loan -43,100 3.04%
Student Loan -45,700 5.61%
Investments 23,500
Cash 16,400
Cars 5,000
Total -43,900
End of May:
Student Loan -42,900 3.25%
Student Loan -45,700 5.55%
Investments 24,800
Cash 12,300
Cars 5,200
Total -46,300
Not the direction I want to see. We spent some money for a vacation we are taking next month, did some car repairs, and replaced a computer that broke. We had the cash to do it all, but it hurts seeing the numbers going the wrong direction.
Post by: Vindicated on June 01, 2017, 10:23:06 AM
Updated for April. This $1,200/mo isn't enough. I need to step up my game.
Sep 2016 = -$65,647
Oct 2016 = -$63,503
Nov 2016 = -$62,024 Discovered MMM
Dec 2016 = -$59,969
Jan 2017 = -$58,670 Job Changed Lowering Income ~$500/mo :(
Feb 2017 = -$57,447
Mar 2017 = -$53,518 Taxes! Woohoo!
Apr 2017 = -$52,280
May 2017 = -$52,135
Ugly month for me as well. Had to pay off the AT&T contract since I cancelled DirectTV. The new lower bill will make up the difference. A few other spendipants issues, but I should be set up for better months going forward.
Post by: recklesslysober on June 01, 2017, 10:45:32 AM
05/2017: -$88,772.73
+$1,553.75 (1.7%)
Not the best month, but happy to be moving in the right direction and to see the -$90s gone.
Also hit $20K increase in net worth for the year!
Post by: BobTheBuilder on July 02, 2017, 03:18:29 AM
Federal student loan 1: -9055
Federal student loan 2: -3949
Bank loan and credit card: -1648
Investments, car and liquidity: 5410
Net worth: -9242
Once again this month more going on than anticipated, but net worth increased by 610 :-)
Post by: lexde on July 03, 2017, 07:05:09 PM
Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
Post by: BobTheBuilder on July 04, 2017, 11:00:20 AM
Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
That is impressive! Keep going, year's end is going to be awesome :-)
Post by: recklesslysober on July 05, 2017, 12:39:56 PM
04/2017: -$90,326.48
05/2017: -$88,772.73
+$1,553.75 (1.7%)
Not the best month, but happy to be moving in the right direction and to see the -$90s gone.
Also hit $20K increase in net worth for the year!
June was better.
06/2017: -$86,517.85
+$2,254.88 (2.5%)
Post by: Bateaux on July 07, 2017, 02:02:51 AM
Post by: Optimiser on July 19, 2017, 07:40:55 AM
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
June was a great month for us. July won't be as good on the income side of things, probably not as good for expenses either, as we were on vacation for 2 weeks and had some car repairs done.
Post by: TheAnonOne on July 20, 2017, 11:51:30 AM
Luckily, I wasn't a spendy man back then either, but I understand the plight here.
Fight ON!
Post by: BobTheBuilder on August 01, 2017, 11:39:30 AM
Jluy 2017:
Federal student loan 1: -9055
Federal student loan 2: -3953
Bank loan and credit card: -1973
Investments, car and liquidity: 5850
Net worth: -9131 (+110 since June)
I now have more liquidity than short term (non-government) debt!
I will also most likely not prolong my Ph.D. position after Dec 31st, which means I will have to write the thesis at home after hours, but I will very likely make more money in 6 months from now. Stressfull, but when you're still upside down on net worth, money is king.
Post by: Optimiser on August 02, 2017, 03:39:56 PM
January: -57,500
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
In July we went on a fancy pants 2 week European vacation, replaced a timing belt, and made some quarterly tax payments so I don't fee too bad that we got a little bit further from the goal.
Post by: BobTheBuilder on August 31, 2017, 01:40:22 PM
Anyways, update time!
August 2017:
Federal student loan 1: -9055
Federal student loan 2: -3956
Bank loan and credit card: -743
Investments, car and liquidity: 4713
Net worth: -9041 (+90 since July...)
A bit of an atypical month again, had to spend money on computer repairs and 250 for university stuff. Will go to minimum budget and generate a bit of side income in September.
Final rate on the old bank loan is due tomorrow, I am free of debt with more than 1.2% interest! Feels so good! One cash flow sucker gone!
Post by: Optimiser on August 31, 2017, 02:48:22 PM
January: -57,500
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
Moving in the right direction again!
Post by: ElleFiji on September 01, 2017, 09:03:55 PM
Post by: lexde on September 02, 2017, 07:57:46 PM
July 2017: -7,715Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
August 2017: -6,251
Post by: JonnyFromCanada on September 07, 2017, 07:42:52 AM
September 2017: -9,320
I just sold $2,800 worth of my stocks which will go straight to that debt. So in three days or so when it goes through I should be at -6,500.
I'm thinking by June 2018 I will definitely be debt-free (finally).
Post by: Optimiser on September 07, 2017, 07:45:36 AM
January 2017: -16,000
September 2017: -9,320
I just sold $2,800 worth of my stocks which will go straight to that debt. So in three days or so when it goes through I should be at -6,500.
I'm thinking by June 2018 I will definitely be debt-free (finally).
Were you not including those stocks in your net worth?
Post by: JonnyFromCanada on September 10, 2017, 10:14:04 AM
I guess my net worth would be steady around -4000 then.
Post by: BobTheBuilder on September 25, 2017, 07:44:10 AM
I refinanced the big student loan. By paying back all at once and early, I got a 26.5% discount, around 2500. Rate of the bank loan is 3.3%, which is so low I put the excess money in div-stocks since they would not lend less than 10K. Btw they qualified me for 38K, which is insane...
Here it comes :-)
Student loan: 3,955 at 0.75%
Bank loan: 10,000 at 3.3%
Credit Card: 864 (paid full each period)
Investments and liquidity: 5216
Car: 3610
Net worth: -5995 up 3043! (YEAH; crossed -6K!)
Post by: MrMustache on September 30, 2017, 09:46:57 AM
Credit cards: -4230 (0% until May 2018), paid off 14k on my high interest cards between May and today.
Cash: 2600
401k: 1280 (stopped contributing since no match to pay off the high interest credit cards and returning 8% on that as of now)
Today: -350 NW
Live in a HCOL area though so tomorrow I get to dish out ~2100 for rent, utilities, car insurance. So really about -3000.
After running numbers November 3rd is my day to officially be positive net worth. Since my last card is 0% till May I'm getting my emergency fund built and paying off the card at April statement.
Post by: Optimiser on October 02, 2017, 09:31:30 AM
I like it here, and I can look forward to graduating to the 10k thread.
January: -57,500
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
Cashed out all of my unpaid overtime per the suggestions in my case study. I'm up 24k this year and I'm starting to feel like I'm actually going to make it to zero at some point.
Post by: lexde on October 04, 2017, 09:12:41 AM
(https://uploads.tapatalk-cdn.com/20171004/177a523411976b360efd379e680d7897.jpg)July 2017: -7,715Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
August 2017: -6,251
So close! Getting there slowly but surely.
September 2017: -4,475
Post by: Abooki on October 04, 2017, 12:21:14 PM
Since May 2017 to Oct 4 2017(now)
Networth:
Yayyy this is exactly what I was looking for. Here we go:
Here are my stats:
-$52452.56 --> student loans
-$3381--> stupid car loan.(got a cheap 2006 Honda Civic but got a car loan since I didn't know better then)
+$28916.02 --> 401k
Networth: -$26917.9
Goal: Debt free before 2019.
Post by: Vindicated on October 11, 2017, 06:11:15 AM
Sep 2016 = -$65,647
Oct 2016 = -$63,503
Nov 2016 = -$62,024 Discovered MMM
Dec 2016 = -$59,969
Jan 2017 = -$58,670 Job Changed Lowering Income ~$500/mo :(
Feb 2017 = -$57,447
Mar 2017 = -$53,518 Taxes! Woohoo!
Apr 2017 = -$52,280
May 2017 = -$52,135
Jun 2017 = -$52,335
Jul 2017 = -$49,500
Aug 2017 = -$47,200 Started new job!
Sep 2017 = -$45,832 All Credit Cards = $0!
Oct 2017 = -$44,189
Remaining debt is Car, Home, and Student Loans. Car and Home are both below 5%, but some student loans aren't. They're my new focus! I'm contributing 6% to 401k to get company match of 5%. Once all debt above 5% are gone, I'll open a Vanguard account or increase 401k contributions.
I've got more info and some graphs in my journal if any are interested.
Post by: BobTheBuilder on October 30, 2017, 02:57:09 PM
Student loan: 3,957 at 0.75%
Bank loan: 10,017 at 3.3%
Credit Card: 320 (paid full each period)
Investments and liquidity: 5081
Car: 3500
Net worth: -5713 up 282
Post by: Optimiser on November 01, 2017, 08:57:45 AM
January: -57,500
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
October: -30,900
It seemed like a normal month, blows my mind to see us moving so quickly in the right direction.
Post by: lexde on November 01, 2017, 09:09:05 AM
October 2017: -3,098(https://uploads.tapatalk-cdn.com/20171004/177a523411976b360efd379e680d7897.jpg)July 2017: -7,715Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
August 2017: -6,251
So close! Getting there slowly but surely.
September 2017: -4,475
Post by: Vindicated on November 01, 2017, 09:12:09 AM
October 2017: -3,098
So close! woohoo!
Post by: vertkurt on November 01, 2017, 09:28:55 AM
October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Post by: lexde on November 01, 2017, 10:03:47 AM
Doctor?October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Post by: vertkurt on November 01, 2017, 11:06:37 AM
Doctor?October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Yes...and not the high earning kind unfortunately. Still young, 30, but it's going to take at least 10 years at 800/week to pay it off with the criminal interest rate they charge. It's okay though...still have my health.
I've posted in the race to 10k-100k also because I'm trying to blast the loan and invest at the same time. It's quite depressing really. I now advise other young folks to reaaaallly think about post bac studies financially because frankly optometry, pharmacy, and vet just isn't worth it imo. The income to loan is absurd. MD, DDS, and others are really bad also, but atleast they command 300k+ salaries sometimes.
I often think I should've gone engineering or some other applied STEM degree. Alas, it's too late now.
Kudos to you for paying yours off. I was watching yours tick down in the thread and felt hopeful.
Post by: lexde on November 01, 2017, 11:23:52 AM
I started at 120k in debt since I got my undergrad debt free. Starting salary was 40k (had to wait to become licensed) then 65k, which is my current salary and I’m taking a decent chunk out of my loans just on that. If you can, specialize and go hard. I have a doctor in my family and he gave me some advice that’s applicable to both MD and JD (at least because we both deal with insurance companies). He told me to focus on billing. Bill for everything that you ethically can. Get creative with it as long as you aren’t fudging it. “Pain pays”. He finishes his charting every day without fail and bills for everything he possibly can since the insurance companies will cut it anyway. By doing this, he brings in 30-40% more than the other doctors in his practice and gets much larger bonuses. He said he put time into improving his billing but the time you put in it pays for itself with every single patient you see.Doctor?October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Yes...and not the high earning kind unfortunately. Still young, 30, but it's going to take at least 10 years at 800/week to pay it off with the criminal interest rate they charge. It's okay though...still have my health.
I've posted in the race to 10k-100k also because I'm trying to blast the loan and invest at the same time. It's quite depressing really. I now advise other young folks to reaaaallly think about post bac studies financially because frankly optometry, pharmacy, and vet just isn't worth it imo. The income to loan is absurd. MD, DDS, and others are really bad also, but atleast they command 300k+ salaries sometimes.
I often think I should've gone engineering or some other applied STEM degree. Alas, it's too late now.
Kudos to you for paying yours off. I was watching yours tick down in the thread and felt hopeful.
I make 65k as a lawyer, my SO makes 80k as a mechanical engineer, so you’re doing okay! Don’t let the day to day get you down. That’s the hardest part.
Sometimes what I do is make “F— U” payments of like $1 or $5 or $20 when I can. Just so they have to process it. It’s petty but makes me feel a little better and it does add up. One time I made a $.63 payment to even out my bank account.
We will get to zero and then it gets easier from there!
Post by: vertkurt on November 01, 2017, 01:47:07 PM
I will keep that advice in mind regarding the billing. You are your SO are earning slightly more than us, 80k and 45k here, and have managed to eradicate your loans so there is hope for us too I believe. 278k at 7% is absolutely draining us and there is no way to refinance either. We just have to snowball the loans and pay off the ones in reach that have higher interest rates and hopefully refinance once its down to 150k.I started at 120k in debt since I got my undergrad debt free. Starting salary was 40k (had to wait to become licensed) then 65k, which is my current salary and Im taking a decent chunk out of my loans just on that. If you can, specialize and go hard. I have a doctor in my family and he gave me some advice thats applicable to both MD and JD (at least because we both deal with insurance companies). He told me to focus on billing. Bill for everything that you ethically can. Get creative with it as long as you arent fudging it. Pain pays. He finishes his charting every day without fail and bills for everything he possibly can since the insurance companies will cut it anyway. By doing this, he brings in 30-40% more than the other doctors in his practice and gets much larger bonuses. He said he put time into improving his billing but the time you put in it pays for itself with every single patient you see.Doctor?October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Yes...and not the high earning kind unfortunately. Still young, 30, but it's going to take at least 10 years at 800/week to pay it off with the criminal interest rate they charge. It's okay though...still have my health.
I've posted in the race to 10k-100k also because I'm trying to blast the loan and invest at the same time. It's quite depressing really. I now advise other young folks to reaaaallly think about post bac studies financially because frankly optometry, pharmacy, and vet just isn't worth it imo. The income to loan is absurd. MD, DDS, and others are really bad also, but atleast they command 300k+ salaries sometimes.
I often think I should've gone engineering or some other applied STEM degree. Alas, it's too late now.
Kudos to you for paying yours off. I was watching yours tick down in the thread and felt hopeful.
I make 65k as a lawyer, my SO makes 80k as a mechanical engineer, so youre doing okay! Dont let the day to day get you down. Thats the hardest part.
Sometimes what I do is make FU payments of like $1 or $5 or $20 when I can. Just so they have to process it. Its petty but makes me feel a little better and it does add up. One time I made a $.63 payment to even out my bank account.
We will get to zero and then it gets easier from there!
I like the FU payments! That made me chuckle.
Post by: Primm on November 02, 2017, 11:02:04 PM
Current situation as at 1 November 2017:
Assets: I'm not including cars or house in here because realistically they aren't easily monetised, and I'll still need them post-retirement. So this is cash, retirement fund and investments.
$245,659.90
Liabilities: Conversely I *am* including car loan and mortgage in here, because while they exist they still need to be paid and impact on my expenses.
-$300,822.73
Net worth:
-$55,162.83
Better than last year, but not by enough.
Post by: Vindicated on November 03, 2017, 06:20:08 AM
I'm playing too. I reckon 3 years and I'll be close to zero.
Current situation as at 1 November 2017:
Assets: I'm not including cars or house in here because realistically they aren't easily monetised, and I'll still need them post-retirement. So this is cash, retirement fund and investments.
$245,659.90
Liabilities: Conversely I *am* including car loan and mortgage in here, because while they exist they still need to be paid and impact on my expenses.
-$300,822.73
Net worth:
-$55,162.83
Better than last year, but not by enough.
If you're looking for net worth, you would include home and cars. Just assuming the -$300k doesn't include other debt, and your value if you sold those items was $350k, you would have a net worth of roughly $300k.
You're welcome to track your money however you want of course. I'm just not sure it's still considered "net worth" if you don't count your home and cars. Maybe there is another name for this number.
Post by: ElleFiji on November 03, 2017, 10:01:03 AM
I started at 120k in debt since I got my undergrad debt free. Starting salary was 40k (had to wait to become licensed) then 65k, which is my current salary and Im taking a decent chunk out of my loans just on that. If you can, specialize and go hard. I have a doctor in my family and he gave me some advice thats applicable to both MD and JD (at least because we both deal with insurance companies). He told me to focus on billing. Bill for everything that you ethically can. Get creative with it as long as you arent fudging it. Pain pays. He finishes his charting every day without fail and bills for everything he possibly can since the insurance companies will cut it anyway. By doing this, he brings in 30-40% more than the other doctors in his practice and gets much larger bonuses. He said he put time into improving his billing but the time you put in it pays for itself with every single patient you see.Doctor?October 2017: -3,098
So close! woohoo!
That's encouraging to see. Currently screwed with a 278k student loan...fml
Yes...and not the high earning kind unfortunately. Still young, 30, but it's going to take at least 10 years at 800/week to pay it off with the criminal interest rate they charge. It's okay though...still have my health.
I've posted in the race to 10k-100k also because I'm trying to blast the loan and invest at the same time. It's quite depressing really. I now advise other young folks to reaaaallly think about post bac studies financially because frankly optometry, pharmacy, and vet just isn't worth it imo. The income to loan is absurd. MD, DDS, and others are really bad also, but atleast they command 300k+ salaries sometimes.
I often think I should've gone engineering or some other applied STEM degree. Alas, it's too late now.
Kudos to you for paying yours off. I was watching yours tick down in the thread and felt hopeful.
I make 65k as a lawyer, my SO makes 80k as a mechanical engineer, so youre doing okay! Dont let the day to day get you down. Thats the hardest part.
Sometimes what I do is make FU payments of like $1 or $5 or $20 when I can. Just so they have to process it. Its petty but makes me feel a little better and it does add up. One time I made a $.63 payment to even out my bank account.
We will get to zero and then it gets easier from there!
I love your fu payments!
Almost every time I log into my bank I throw $10 at something - the SL, pre paying a bill. Just moving a small amount I won't miss into a useful spot. But I'm now tempted to throw SOMETHING at the loans every time so they can process it.
Post by: talltexan on November 16, 2017, 01:07:37 PM
Post by: lexde on November 16, 2017, 02:01:19 PM
Is anybody here doing the plan where you just sock money away into an SP500 index, and--when it's equal to the balance of the loans--you take it out and pay those suckers off?Nope. The gains from S&P are not worth risking vs. guaranteed 6% interest rate from loans plus capital gains tax. Paying it off in big chunks each month instead. Investing will come later.
Post by: lexde on November 16, 2017, 02:02:22 PM
November 16, 2017: -2,585October 2017: -3,098(https://uploads.tapatalk-cdn.com/20171004/177a523411976b360efd379e680d7897.jpg)July 2017: -7,715Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
August 2017: -6,251
So close! Getting there slowly but surely.
September 2017: -4,475
Post by: Shelfside27 on November 17, 2017, 07:21:28 AM
Post by: Dicey on November 18, 2017, 12:57:07 AM
Looks like SeaKayEl has left theIt appears the closest race to my current state is "Race to 10k."
I'd like to break this down into an even smaller increment: Race to 0.
Here is my rough breakdown of where I am at today:
April 2017
Student Loans: -$124,000
Mortgage: -$133,000
Investments: $88,000
Net Worth: -$170,000
Question. Shouldn't your home value be counted in this? If your home is worth $150,000, your Net Worth would be -$20k right?
I was thinking the same thing. Assets - Liabilities. Value of house minus the mortgage owed.
Unless OP is upside down $133k on the house.
Wow, how could I have overlooked this? I also haven't added my two cars either. I'm such a rookie.
End of April Update (Revised):
Student Loans: -$122,551.68
Mortgage: -$133,024.59
House Value: $213,725 (Zillow Estimate)
Car 1: $7,500 (Edmunds Estimate)
Car 2: $10,300 (Edmunds Estimate)
Investments: $101,808.61
Net Worth: $77,757.34
Ummmmmmm.....I know I just created this thread....but I can't wait to be able to graduate to the next level up!
Post by: BobTheBuilder on November 30, 2017, 12:27:19 PM
Student loan: 3,959 at 0.75%
Bank loan: 9,797 at 3.3%
Credit Card: 675 (paid full each period)
Investments and liquidity: 5,042
Car: 3,500
Net worth: -5,889 down from the month before. Still looking to make an increase of 7000 per Dec 31st YoY, for that I need to go up by 1226 next month. That is going to be a tough one, but with our small year's end bonus of 860 still possible. Selling everything on ebay now :-D
Post by: EarlyInJourney on December 09, 2017, 12:42:14 PM
Lurker for the past few months, now getting a bit more involved on the forum, with the hope for a bit more accountability. As my profile name would suggest, I'm not doing too well compared to lots of folks here, but I have seen the light (at the ripe old age of 40), and I do have some things going for me.
Some of this is rehash from my "say hi and introduce yourself" post, but here goes:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
Things I have going for me:
1) Income and savings/debt reduction are way up recently, thanks to new-ish job (and starting to grow a 'stache). I haven't done the full math yet, but I have increased my NW approx 25K in the last 1.5 years (paid off 15K in CC, saved 9500 in RHSA and 457B).
2) Two pensions. Reasonably solid funding (public service), and should provide significant income assuming I work until at least age 60. One is vested, 2nd needs 3 more years of work to vest.
3) PSLF (Public Service Loan Forgiveness). Assuming Congress doesn't mess with it, in 4 years I'll have whatever remains on my Federal student loan forgiven. Since I'm currently on a income-based payment plan and only paying interest, this will be substantial - around 50K! (that will be a really good month for my NW!)
4) I actually like my job! Also, 40 hours/wk + 5 weeks of time off/yr = not burning out. Though it would be nice to be able to retire early, the thought of working until I'm 65 doesn't freak me out (though it might in 10 years) - I'm much more interested in the FI side of things, not so much the RE...
I'm getting married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me. Still, my goal is to have all CC debt paid off by the time the promotional 0% offer ends in 2019, plus keep contributing steadily to the RHSA and 457 (currently, including employer contributions, adding $700/mo).
Questions:
- should I include the pensions in my NW? If so, then I would most likely have positive NW, but I'm not sure how to calculate it...
- should I include the fed loan that will (should) be forgiven in 2021?
Thanks,
EarlyInJourney
Post by: lexde on December 14, 2017, 07:33:16 AM
December 14, 2017: +811November 16, 2017: -2,585October 2017: -3,098(https://uploads.tapatalk-cdn.com/20171004/177a523411976b360efd379e680d7897.jpg)July 2017: -7,715Oh man, this one hurts.Per YNAB, June 2016 ended me up at -12,532.
Assets: $25.6K (I count my car, I shouldn't, but it's the only thing that keeps me sane. And it's paid off.)
Loans: $42.1K
Net Worth: -$16.5K
Goal: $0NW (with $24Kish in loans remaining) by 12/31/17
Goal: debt-free by 05/31/18
In the first half of this year I have increased my NW by $12,928.66. So that puts me on track to hit $0 by 12/31/17 with a few dollars to spare.
August 2017: -6,251
So close! Getting there slowly but surely.
September 2017: -4,475
(https://uploads.tapatalk-cdn.com/20171214/baa007680631a84a7c95e985af97da2b.jpg)
Post by: DS on December 14, 2017, 07:45:26 AM
December 14, 2017: +811
Congrats!!!
Post by: ElleFiji on December 14, 2017, 08:05:48 AM
Post by: NinetyFour on December 14, 2017, 08:10:24 AM
December 14, 2017: +811
Congrats!!!
Glad to see a post from you @lexde ! And one with such good news! AWESOMESAUCE!!!
Post by: recklesslysober on December 14, 2017, 11:41:40 AM
Haven't updated in awhile.. just steadily working away at it.
07/2017: -$81,500
08/2017: -$79,300
09/2017: -$77,200
10/2017: -$70,200
11/2017: -$67,500
12/2017: -$65,000
I'm now halfway to worthless, the big $0 net worth milestone. Most of that progress ($42K) happened in 2017 so if I push just a bit more I should be able to hit that goal next year!
Post by: BobTheBuilder on December 14, 2017, 12:50:16 PM
December 14, 2017: +811
Very nice, congratulations! See you in the next race :-)
Post by: Irish in Valencia on December 21, 2017, 05:45:42 AM
Hi folks
Flat 125000
Car and furniture 2000
Mortgage 95712
Business loan 26286
Home deposit loan 46400
Wifes college loan. 6000
Negative equity 60,000
Plan to get to zero inside 18 months
June 2018
Post by: Suzanne on December 25, 2017, 10:55:57 PM
It appears the closest race to my current state is "Race to 10k."
I'd like to break this down into an even smaller increment: Race to 0.
Here is my rough breakdown of where I am at today:
April 2017
Student Loans: -$124,000
Mortgage: -$133,000
Investments: $88,000
Net Worth: -$170,000
Yeah I am also In:
Submitting expenses at -$1000,
Mortgagee: -$100000,
Investments: $ 30000,
Post by: ElleFiji on December 26, 2017, 04:22:04 PM
See you in the next round!
Post by: Optimiser on December 26, 2017, 05:51:58 PM
Friends... I worked myself to exhaustion this month, and recieved a Christmas gift. If we count uninvoiced hours, I have graduated. If we don't, I'll graduate December 30th.
See you in the next round!
Congrats!
Post by: SwordGuy on December 26, 2017, 08:28:14 PM
Federal student loan (6.25%): 56000
2) Two pensions. Reasonably solid funding (public service), and should provide significant income assuming I work until at least age 60. One is vested, 2nd needs 3 more years of work to vest.
3) PSLF (Public Service Loan Forgiveness). Assuming Congress doesn't mess with it, in 4 years I'll have whatever remains on my Federal student loan forgiven. Since I'm currently on a income-based payment plan and only paying interest, this will be substantial - around 50K! (that will be a really good month for my NW!)
I'm getting married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me. Questions:
- should I include the pensions in my NW? If so, then I would most likely have positive NW, but I'm not sure how to calculate it...
If you quit or laid off today, do you lose the pension? Because if you do, the answer is "No." If yes, I can't help you with how to calculate it, google would be your friend.
- should I include the fed loan that will (should) be forgiven in 2021?
Until it's forgiven, you owe it. So it stays in the calculation until it's gone, one way or the other.
Now, I have a question for you. Why would getting married be bad for you financially? Are you spending crazy money on the wedding? If so, just don't! ;) Otherwise, it should be a financial benefit, with two incomes and shared expenses.
Post by: SwordGuy on December 26, 2017, 08:30:14 PM
It's a big win!
Post by: BobTheBuilder on December 27, 2017, 07:50:50 AM
Student loan: -3,810 at 0.75%
Bank loan: -9,596 at 3.3%
Credit Card: -392 (paid full each period)
Investments and liquidity: 5914
Car: 3,400
NW: -4,484
2017 gain: 7,192!
Thanks to the community for keeping up the spirit!
Post by: Optimiser on January 01, 2018, 02:33:53 PM
January: -57,500November: -34,000
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
October: -30,900
December: -30,800
Post by: MrUpwardlyMobile on January 01, 2018, 05:14:25 PM
I used to joke with my wife that homeless people have a higher net worth than 90% of America. They have nothing other than the contents of their shopping cart, but they own everything in the cart. 0 is a huge goal and a major milestone. It took me a long time to hit it. I always hear people say "use the bank's money to make you money" I am very reluctant to do this. I have one rental with a lien on it. It is a positive cash flow property so I consider it a success. You guys are all on your way and are actually killing it based on the numbers you posted. The $10k number will find you soon based on the way you are going. 10 becomes 25 faster than you think. Stay the course, you are headed in the right direction!I used to make the same joke.
Post by: EarlyInJourney on January 10, 2018, 07:56:43 PM
First off, great progress! Bravo!
Federal student loan (6.25%): 56000
2) Two pensions. Reasonably solid funding (public service), and should provide significant income assuming I work until at least age 60. One is vested, 2nd needs 3 more years of work to vest.
3) PSLF (Public Service Loan Forgiveness). Assuming Congress doesn't mess with it, in 4 years I'll have whatever remains on my Federal student loan forgiven. Since I'm currently on a income-based payment plan and only paying interest, this will be substantial - around 50K! (that will be a really good month for my NW!)
I'm getting married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me. Questions:
- should I include the pensions in my NW? If so, then I would most likely have positive NW, but I'm not sure how to calculate it...
If you quit or laid off today, do you lose the pension? Because if you do, the answer is "No." If yes, I can't help you with how to calculate it, google would be your friend.
One state pension is secure, in that I worked in the position for 8+ years, got vested, and it's fully mine. The other is in the state I currently work in. I still need 3 years to get vested and get my employer's contributions, but if I did quit or get laid off before that, I would at least get my contributions back (approx. 12K).- should I include the fed loan that will (should) be forgiven in 2021?
Until it's forgiven, you owe it. So it stays in the calculation until it's gone, one way or the other.
Gotcha. Yeah, that's certainly technically true.
Now, I have a question for you. Why would getting married be bad for you financially? Are you spending crazy money on the wedding? If so, just don't! ;) Otherwise, it should be a financial benefit, with two incomes and shared expenses. The -being- married will be great for me - my fiance makes more than I do, has more saved, and is reasonably frugal (maybe not by MMM's high standards, but certainly by American society's). The -getting- married part is the expensive part, at least by my standards. It could be worse, but I figure my share will be around 10K. Not crazy money, but definitely more than is strictly necessary. But yeah, I truly want to marry this woman, and the wedding experience is pretty important to her, so I'm all in. Also, for years I've been telling her, I don't want "stuff", I want experiences/memories...Time to put my money where my mouth is! ;-)
Post by: Trifle on January 27, 2018, 06:11:33 AM
It's been a while since I stopped by this thread, but just want to say -- well done everyone! I'm an alum of the starting-deep-in-debt class, and I can say from experience that getting to zero is huge. You can do it!
Post by: BobTheBuilder on February 27, 2018, 03:42:59 AM
On the bright side, I received my first dividends of 17.50 :-D
Student loan: -3,575 at 0.75%
Bank loan: -9,202 at 3.3%
Credit Card: -309 (paid full each period)
Investments and liquidity: 5401
Car: 3,200
NW: -4,483 (Up 1 over December...)
How are you guys doing?
Post by: Optimiser on March 05, 2018, 02:38:12 PM
January: -57,500Jan 2018: -28,300
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
October: -30,900
November: -34,000
December: -30,800
Feb 2018: -24,300
Post by: BobTheBuilder on April 27, 2018, 11:49:16 AM
Student loan: -3,339 at 0.75%
Bank loan: -8806 at 3.3%
Credit Card: -355 (paid full each period)
Investments and liquidity: 5472
Car: 3,000
NW: -4,028 (Up 394 over February)
Feels a bit like like an uphill battle right now. Double down for May!
Post by: PacificEve on April 27, 2018, 04:59:50 PM
Post by: BobTheBuilder on April 28, 2018, 03:37:31 AM
Post by: Trifle on April 28, 2018, 06:52:40 AM
I want to be in on this. I'm scared to post my numbers because I'm ashamed but I'll get the courage soon.
Welcome @PacificEve ! Come on in. Don't worry -- many of us started way in the negative. My journey to positive was really slow, but I got there, and so will you!
Post by: MrUpwardlyMobile on April 28, 2018, 08:33:02 AM
I want to be in on this. I'm scared to post my numbers because I'm ashamed but I'll get the courage soon.
Its a positive motivational group here. People dont look down on people for being broke. I used to comment that homeless people had net worths that were more than a hundred thousand dollars higher than my net worth. Eventually, things got better. Participating in net worth threads has been awesome. Im seeing huge growth month over month now.
Post by: JonnyFromCanada on April 28, 2018, 11:17:28 AM
Canadian accounts:
Line of Credit: -$8,100 CAD (only $6100 US)(My only debt!)
RRSP: +$4,000 CAD
Chequing accounts: +$400ish.
Canadian Accounts overall: -$3,600 CAD
US Accounts:
Chequing: +$730
CD: +$760
Roth: $430
US accounts overall: +$1,930 US.
(-$3,600 CAD = -$2,802 US)
New net worth = -$872 USD
I'm moving to a new town on Sunday (tomorrow). I was stressed out about the idea of getting an auto loan for a used car, when I've been doing so well lately. It would really slow my progress down and stress me out. So, I'm just not gonna do it. There are a couple good bike stores where I'm moving, and a cycling club. I'm just gonna bike to work, and if I get sticky and sweaty, I'm just gonna live with it. I would rather bear that burden that go in debt a whopping $6000 plus having to pay gas and insurance every month.
I'm excited to update this again in a few months and move into a different thread! :)
Post by: PacificEve on April 30, 2018, 10:58:54 AM
Post by: Trifle on April 30, 2018, 12:09:13 PM
I'm at -$70,919 net worth. No reason why it shouldn't be under $70k by my June birthday. So I'm racing to under $70k right now.
Great goal, PacificEve. Go you!
Post by: talltexan on May 04, 2018, 08:29:45 AM
Post by: shinn497 on May 21, 2018, 10:06:05 PM
I think i could be positive in july!
Post by: BobTheBuilder on May 30, 2018, 11:51:43 AM
Student loan: -3,220 at 0.75%
Bank loan: -8,557 at 3.3% (small extra payment of 50 incl.)
CC, Investments and liquidity: 5912
Car: 2,900
NW: -3,235 (Gaining almost 800)
I like.
Post by: ElleFiji on June 17, 2018, 09:32:11 AM
Resetting finances is hard. A massive push backwards. But you'll be a zero again in no time!
Post by: shinn497 on June 29, 2018, 01:44:54 AM
I'm at - 4k ish (- 6.5k + 2.5k in investments).
I think i could be positive in july!
Ayo its nearly july but that direct deposit just hit (yeah I stayed up for it).
As of it I am EVER so close.
investments: 2550
Student Loans: 1900
Medic debt: 750
Cable bill debt: 90
Net: - 190
ALMOST THERE
Technically I am net worth positive because of cash, but I run a zero based budget so I am not counting that since it is all going to be gone this month.
Post by: BobTheBuilder on June 29, 2018, 10:59:32 AM
I made a huge jump thanks to my investments. I plan on cashing most of it out during July, I already converted some gains to cash. Here it goes:
Update for June:
Student loan: -3,102 at 0.75%
Bank loan: -8,199 at 3.3% (major extra payment)
CC, Investments and liquidity: 7,713
Car: 2,800
NW: -788 (Gaining around 2,500!)
Wow. I Never thought I would see 3 digits that soon. That is 148% of my target increase for September already :-) I did not plan further because of job change at that time point. Up Up!
Post by: Trifle on June 29, 2018, 03:02:56 PM
What's next for the two of you? The Race to $10k thread? Lots of nice people there.
Post by: shinn497 on June 29, 2018, 03:15:40 PM
Also doubling down on work to increase my salary so I can save moar. And oyu know japan and anime conventions and stuff.
Post by: BobTheBuilder on June 30, 2018, 02:35:49 AM
In the best case scenario, I will be looking at several hundreds to 1k more after taxes after October. My preference is on not moving, since we rent quite cheaply here, and work much closer to home. In that case, 10k is doable in 2019! More detailled, that would be upping the EF, automating the increased pay down on the bank loan and filling investment accounts with MSCI World for a while.
Post by: talltexan on July 25, 2018, 08:13:11 AM
Post by: BobTheBuilder on August 03, 2018, 03:03:49 AM
This month I am late to the party because I was/am heavily invested in TESLA and did not want to skew my results right before/after earnings and the correspondingly hysterical market reaction. So with a grain of salt and not the detailed listing from the last months, I am now at....
-270 net worth. Which is up 500 over end of June including summer vacation.
Almost there! Let's see what happens in August while I lock in some more paper gains on my foolish stock pick :-D
Post by: AngelaG86 on August 12, 2018, 11:11:50 AM
Post by: Trifle on August 12, 2018, 11:48:32 AM
Post by: talltexan on August 15, 2018, 06:22:37 AM
Post by: EarlyInJourney on August 16, 2018, 11:28:50 AM
12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
I'm getting married in 2018, so while it will be a wonderful year in some regards, it won't be the best year financially for me. Still, my goal is to have all CC debt paid off by the time the promotional 0% offer ends in 2019, plus keep contributing steadily to the RHSA and 457 (currently, including employer contributions, adding $700/mo).
Current - 8/16/2018:
Federal student loan (6.25%): 56000 (chugging away paying interest and not much more, what I'm required to pay based on income, waiting to get to Public Service Loan Forgiveness in a few years)
Navient student loan (4.75%): 0 (Yay! With a little help from my now wife, wiped out that debt!)
Credit cards (0% until Feb. 2019): 12400 (last month's wedding costs bumped this up $1800 from last December. Not bad, actually - I was able to pay a lot as I went)
car lease (face punch!): 2800
Total debt: 71200 (reduction of 5800)
Retirement health savings account: 10400
457B: 8200
Cash: 2000
Total assets: 20600
Net worth: -50600 (+12900)
I
Still, my goal is to have all CC debt paid off by the time the promotional 0% offer ends in 2019, plus keep contributing steadily to the RHSA and 457 (currently, including employer contributions, adding $700/mo). Hmm, I'm not sure I'll make, or even want to make, the CC goal. I've significantly increased my contributions to my 457b, up to $1300/mo, trying to get my AGI as low as possible for taxes and what I'll be required to pay on my student loan next year. With a bunch of attractive balance transfer offers floating around (0% for 15-21 mos, possibility of no balance transfer fee), I'm wondering if I shouldn't just put paying off the CC debt on the back burner (keeping it all at 0% via transfer), and plow as much as possible into my 457b. Thoughts?
Also, I should probably bump up my bare bones emergency fund. Currently it's $500. My wife has a decent chunk of cash in savings to draw from if necessary, so it's not scary low, but yeah, I'm thinking it would be good to have a slightly less bare bones $1000 sitting in a high yield savings account, just in case...
Congrats to everyone on your accomplishments - it's definitely inspiring to read about other folks' successes!
Post by: DS on October 05, 2018, 09:22:18 AM
8/23/2017 (23,392) Found MMM
9/1/2017 (23,244)
10/1/2017 (21,063) 2,181
11/1/2017 (19,499) 1,564
12/1/2017 (17,399) 2,100
1/1/2018 (13,819) 3,580
2/1/2018 (12,188) 1,631
3/1/2018 (10,210) 1,978
4/1/2018 (10,068) 142
5/1/2018 (10,879) (811)
6/1/2018 (7,057) 3,822
7/1/2018 (8,116) (1,059)
8/1/2018 (7,089) 1,027
9/1/2018 (5,587) 1,502
10/1/2018 (3,724) 1,863
10/05/2018 (1,556) 2,168
Total 21,688
So close!
Post by: ItsALongStory on October 05, 2018, 04:25:18 PM
Time to think about the next goal :)
Post by: DS on October 06, 2018, 06:34:24 AM
One more month is all you need!
Time to think about the next goal :)
Definitely! I am just about to hit 0 and can barely find the motivation to keep doing BS. Don't know how people with millions continue to do it haha.
So Awesome DS!!
Thank you!! Pretty pumped!
Post by: EarlyInJourney on October 15, 2018, 02:46:00 PM
12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
8/16/2018:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 0
Credit cards (0% until Feb. 2019): 12400
car lease (face punch!): 2800
Total debt: 71200 (reduction of 5800)
Retirement health savings account: 10400
457B: 8200
Cash: 2000
Total assets: 20600
Net worth: -50600 (+12900)
10-15-2018
Federal Student Loan (6.25%): 56000
Credit cards (0% until 2-2019): 11061
Car lease: 2281
Total Debt: 69342
RHSA: 10822
457B: 10579
cash: 2000
Total assets: 23401
Net worth: -45941 (+4659 since 8-16-2018, +17559 since 12-9-2017)
Thinking about this stuff daily, or nearly so, the progress seems really slow. It's really good for me, and for my motivation, to take a step back and see that yes, I am definitely making progress, and it's not -that- slow. Thanks for posting, everybody!
Post by: talltexan on October 24, 2018, 11:13:49 AM
Post by: EarlyInJourney on October 25, 2018, 07:32:14 PM
Post by: talltexan on October 30, 2018, 07:11:31 AM
Post by: EarlyInJourney on October 30, 2018, 09:11:05 PM
While not ideal, leasing the car wasn't the stupidest idea. It's an electric, and the state of California mailed me a nice check as an incentive. Plus, I don't miss paying for gas or maintenance...
My current plan is to buy a 3-5 year old Prius when the lease ends. The Prius is apparently the (un)official car of the state, and there are a bunch of used ones for sale around me, often at pretty nice prices...
Post by: BobTheBuilder on November 01, 2018, 05:11:22 AM
I had to replace expensive computer parts in a hurry, had an unplanned wedding attendance and the stock market reversed the previous gains.
So after all, I am now at -947
Of that, 7,157 is cash-like and investments, 2,400 is my car, and 10,504 is remaining total debt.
Since I have a better paying job now, I will probably still be out of the red for good by the end of the year!
Prognosis for end of November is -600, end of December is +200
Looking forward to having less than 10K debt starting with todays pay!
Post by: DS on November 30, 2018, 07:36:25 AM
Post by: BobTheBuilder on November 30, 2018, 09:08:43 AM
Today sitting at about $170. This phase of life is coming to an end.
Almost there or already positive? I finished November at -648. I will very likely post a goodbye here and graduate to the race to 10k thread on Jan 1st (or 2nd :-).
Next step is the investment policy for 2019.
Keep going up!
Post by: DS on November 30, 2018, 09:12:53 AM
Today sitting at about $170. This phase of life is coming to an end.
Almost there or already positive? I finished November at -648. I will very likely post a goodbye here and graduate to the race to 10k thread on Jan 1st (or 2nd :-).
Next step is the investment policy for 2019.
Keep going up!
Positive! Feels amazing!
Post by: Optimiser on December 04, 2018, 09:32:36 AM
Mar 2018: -25,100January: -57,500Jan 2018: -28,300
February: -58,300
March: -50,400
April: -43,900
May: -46,300
June: -38,200
July: -41,300
August: -40,200
September: -33,200
October: -30,900
November: -34,000
December: -30,800
Feb 2018: -24,300
Apr 2018: -22,800
May 2018: -23,700
Jun 2018: -15,600
Jul 2018: -15,100
Aug 2018: -14,400
Sep 2018: -15,200
Oct 2018: -9,600
Nov 2018: -10,900
My progress blows me away and I am looking forward to leaving this thread sometime in 2019.
Post by: BobTheBuilder on December 28, 2018, 03:46:39 AM
Post by: Optimiser on January 01, 2019, 03:08:34 PM
I owe this thread an update!Mar 2018: -25,100Jan 2017: -57,500Jan 2018: -28,300
Feb 2017: -58,300
Mar 2017: -50,400
Apr 2017: -43,900
May 2017: -46,300
Jun 2017: -38,200
Jul 2017: -41,300
Aug 2017: -40,200
Sept 2017: -33,200
Oct 2017: -30,900
Nov 2017: -34,000
Dec 2017: -30,800
Feb 2018: -24,300
Apr 2018: -22,800
May 2018: -23,700
Jun 2018: -15,600
Jul 2018: -15,100
Aug 2018: -14,400
Sep 2018: -15,200
Oct 2018: -9,600
Nov 2018: -8,900
Dec 2018: -200
So close I can taste it!
Post by: Trifle on January 02, 2019, 04:15:11 AM
Post by: BobTheBuilder on January 29, 2019, 01:50:51 PM
Although I already paid a part of my vacation upfront and had the January bills come due,
I am now at POSITIVE 261, which is up 550 over December.
I will spare you the details of what money lies where and enjoy the level up :-) See you in Race To 10k!
Post by: Trifle on January 29, 2019, 02:21:38 PM
I made it! Smiling ear to ear! And a big thank you to the community, and heads up to all that are still going! You can do it!
Although I already paid a part of my vacation upfront and had the January bills come due,
I am now at POSITIVE 261, which is up 550 over December.
I will spare you the details of what money lies where and enjoy the level up :-) See you in Race To 10k!
Congratulations Bob!!!!! Well done!
Post by: Optimiser on January 31, 2019, 01:44:40 PM
Jan 2017: -57,500
Feb 2017: -58,300
Mar 2017: -50,400
Apr 2017: -43,900
May 2017: -46,300
Jun 2017: -38,200
Jul 2017: -41,300
Aug 2017: -40,200
Sept 2017: -33,200
Oct 2017: -30,900
Nov 2017: -34,000
Dec 2017: -30,800
Jan 2018: -28,300
Feb 2018: -24,300
Mar 2018: -25,100
Apr 2018: -22,800
May 2018: -23,700
Jun 2018: -15,600
Jul 2018: -15,100
Aug 2018: -14,400
Sep 2018: -15,200
Oct 2018: -9,600
Nov 2018: -8,900
Dec 2018: -200
Jan 2019: 500
We did it! See everyone in the next thread!
Post by: Trifle on January 31, 2019, 04:05:56 PM
Jan 2017: -57,500
Feb 2017: -58,300
Mar 2017: -50,400
Apr 2017: -43,900
May 2017: -46,300
Jun 2017: -38,200
Jul 2017: -41,300
Aug 2017: -40,200
Sept 2017: -33,200
Oct 2017: -30,900
Nov 2017: -34,000
Dec 2017: -30,800
Jan 2018: -28,300
Feb 2018: -24,300
Mar 2018: -25,100
Apr 2018: -22,800
May 2018: -23,700
Jun 2018: -15,600
Jul 2018: -15,100
Aug 2018: -14,400
Sep 2018: -15,200
Oct 2018: -9,600
Nov 2018: -8,900
Dec 2018: -200
Jan 2019: 500
We did it! See everyone in the next thread!
Yay Optimiser!!! Well done!
Post by: TMinusX on February 06, 2019, 01:58:44 AM
Been lurking for a while, but decided to take the plunge and signup to the MMM lifestyle ;). It has been incredibly motivating reading everyone's challenges and achievements.
About me: 25yo Dutchie, recently graduated from university, currently interning/part-timing and applying for fulltime positions.
Goal (for now): Reach positive net worth.
Assets
2,050 Investment account invested in VWRL
3,400 Emergency Fund
Liabilities:
43,072 Student loans
NW: -37,622
Since my student loans have 0% interest, I will happily postpone paying those off for as long as possible.
Keeping you posted and cheering you all on!
Cheers,
T
Post by: Trifle on February 06, 2019, 04:20:48 AM
I think a couple folks on the Save to @10k thread ( @Imma, @Hirondelle ) may be Dutch as well.
:)
Post by: EarlyInJourney on February 26, 2019, 11:06:56 AM
Update:
12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
8/16/2018:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 0
Credit cards (0% until Feb. 2019): 12400
car lease (face punch!): 2800
Total debt: 71200 (reduction of 5800)
Retirement health savings account: 10400
457B: 8200
Cash: 2000
Total assets: 20600
Net worth: -50600 (+12900)
10-15-2018
Federal Student Loan (6.25%): 56000
Credit cards (0% until 2-2019): 11061
Car lease: 2281
Total Debt: 69342
RHSA: 10822
457B: 10579
cash: 2000
Total assets: 23401
Net worth: -45941 (+4659 since 8-16-2018, +17559 since 12-9-2017)
2-26-2019
Federal Student Loan (6.25%): 55600
Credit cards (0% until 5-2019): 10261
Car lease: 1015
Total Debt: 66876
RHSA: 12544
457B: 18499
cash: 2000
Total assets: 33043
Net worth: -33833 (+12108 since 10-15-2018, +29667 since 12-9-2017)
Overall, I'm pretty happy with how things are going. My debt has not been decreasing as much as I'd like, but it's all at no interest for a few more months or will be forgiven in 3 years, so I haven't prioritized paying it down. (That's changing this spring)
Instead, I've been focused on saving to my 457B plan, and it's been gratifying to watch that grow each month. Thanks for the positive company, everybody!
Post by: TMinusX on February 28, 2019, 03:57:13 AM
Keep it up!
Post by: Gail2000 on April 02, 2019, 03:57:40 AM
This is really the thread I should be in.
April 2019 at -33500
Savings $700/month between myself and hubby.
Out of a 90k gross income. Im always confused on whether we include capital payment on house?
In that case it brings us up to $920/month.
We are looking to add our returns from income tax to the pot so that will make a nice jump however there is likely a car purchase this year as well. Oh two steps forward, five back. Although there should be some part of other funds set aside for a down payment outside of this savings...but still.
Here we go!
Post by: clieber on May 07, 2019, 11:04:35 AM
5/7/2019: -30,480
Student loans, two cars and a couple small credit cards are keeping me in the red.
Looking to pay off in reverse order.
Post by: Trifle on May 07, 2019, 12:04:48 PM
Post by: Gail2000 on May 07, 2019, 07:15:13 PM
Welcome @clieber and @Gail2000! This thread is a great place to start out. Also check out the "Saving to 10k" thread: https://forum.mrmoneymustache.com/throw-down-the-gauntlet/saving-to-$10k/1250/ That thread is a bit more active, and very welcoming to those of us that started in the negative. :)
Thank you Trifele! I will check it out.
Post by: talltexan on May 10, 2019, 07:15:17 AM
Post by: save234 on May 12, 2019, 05:04:56 PM
Debts
Fed loan- $186,319
Car- $8,563
Private student loan- $5,778
Savings- $1000
401K- $20,500
So, including the Fed student loan, I'm at negative $179.160
and without the Fed student loan, I'm at positive $7,159
Post by: talltexan on May 20, 2019, 07:48:53 AM
Post by: save234 on May 28, 2019, 04:31:45 PM
Post by: SwordGuy on May 30, 2019, 10:25:27 PM
Thanks talltexan. I work in healthcare, and am hoping to get Public Service Loan Forgiveness....this is risky according to many, because the program could be cut before I reach the ten year mark (just hit three years).....I definitely don't have a large income at all. Which is the other reason for going for the loan forgiveness route. It makes me nervous but also makes sense to me as well. There are also orgs in my state that offer huge loan forgiveness in my profession after a certain number of years that I could use as a backup...but they wouldn't cover my whole loan amt
Get it in writing from the loan companies each year, before the year starts and when it ends, that you are on track and they have verified that the last year counted for loan forgiveness and the next year, if nothing changes, will also count.
Don't trust a damn thing about this program. Too many horror stories out there to do that.
Post by: clieber on June 11, 2019, 08:20:40 AM
Posting to join:
5/7/2019: -30,480
Student loans, two cars and a couple small credit cards are keeping me in the red.
Looking to pay off in reverse order.
Looks like I took a step back this month. Added some medical expenses that I had not included before. Also, when my paychecks post and expenses come out seem to have a significant impact on my numbers in my current situation.
5/7/2019: -30,480
6/11/2019: -31,630
Post by: EarlyInJourney on July 25, 2019, 07:05:10 PM
12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
8/16/2018:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 0
Credit cards (0% until Feb. 2019): 12400
car lease (face punch!): 2800
Total debt: 71200 (reduction of 5800)
Retirement health savings account: 10400
457B: 8200
Cash: 2000
Total assets: 20600
Net worth: -50600 (+12900)
10-15-2018
Federal Student Loan (6.25%): 56000
Credit cards (0% until 2-2019): 11061
Car lease: 2281
Total Debt: 69342
RHSA: 10822
457B: 10579
cash: 2000
Total assets: 23401
Net worth: -45941 (+4659 since 8-16-2018, +17559 since 12-9-2017)
2-26-2019
Federal Student Loan (6.25%): 55600
Credit cards (0% until 5-2019): 10261
Car lease: 1015
Total Debt: 66876
RHSA: 12544
457B: 18499
cash: 2000
Total assets: 33043
Net worth: -33833 (+12108 since 10-15-2018, +29667 since 12-9-2017)
7-25-2019
Federal Student Loan (6.25%): 54500
Credit cards (0% until 5-2019): 7775
Car lease: 0(!)
Total Debt: 62275
RHSA: 14870
457B: 22255
cash: 4000
Total assets: 41125
Net worth: -21150 (+12863 since 2-26-19, +29450 since 8-16-2018, +42350 since 12-9-2017)
Wow, taking a step back and looking at my progress over time makes me happy. I could do better, sure, but the progress has been pretty steady, even with getting married (not cheaply) last summer.
Having said that, I'll be taking a hit within the next couple of months - I'll need to get a new (to me) car. My lease just finished up, and I returned the little electric car I had for the past 39 months. Living in LA means I pretty much need a vehicle, and since my wife and I just learned we're pregnant with our first child (!!!), I don't want to buy something without good safety features and ratings. Right now, I'm looking at getting a 2018 Toyota Camry, and I should be able to get one for under 17K. I'm aiming to put down about 4K as a down payment, so with taxes, etc., that leaves about 14K to finance. Not crazy about that, but I'm determined to pay it off in 36 months, which, along with good credit, qualifies me for a pretty low interest rate from my credit bureau (under 3%). Any fab advice or strategies for getting a great deal on a new to me Camry?
Recently, I have been fully realizing the psychological weight of having CC debt... It really does weigh on me, despite having it all at very low or no interest, via good balance transfer offers. I've been chipping away at it, and making steady progress over time, but I'm getting impatient. I'm making it a priority and a goal to pay it off by my next birthday, next May. That does mean possibly contributing less to my 457B (I'm currently putting in $525 every 2 weeks) and/or having less for a down payment for a car... Thoughts?
In any case, having kids might very well be a shitty financial decision, but in terms of meaning/happiness/life satisfaction, etc., it's a no-brainer for my wife and me, so yeah, we're excited!
Good luck to everyone - hope your own financial journeys are going well.
Post by: talltexan on August 05, 2019, 08:21:00 AM
Post by: EarlyInJourney on November 27, 2019, 08:32:18 PM
12/9/2017:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 5600
Credit cards (0% until Feb. 2019): 10600
car lease (face punch!): 4800
Total debt: 77000
Retirement health savings account: 7000
457B: 2500
Cash: 4000
Total assets: 13500
Net worth: -63500
8/16/2018:
Federal student loan (6.25%): 56000
Navient student loan (4.75%): 0
Credit cards (0% until Feb. 2019): 12400
car lease (face punch!): 2800
Total debt: 71200 (reduction of 5800)
Retirement health savings account: 10400
457B: 8200
Cash: 2000
Total assets: 20600
Net worth: -50600 (+12900)
2-26-2019
Federal Student Loan (6.25%): 55600
Credit cards (0% until 5-2019): 10261
Car lease: 1015
Total Debt: 66876
RHSA: 12544
457B: 18499
cash: 2000
Total assets: 33043
Net worth: -33833 (+29667 since 12-9-2017)
7-25-2019
Federal Student Loan (6.25%): 54500
Credit cards (0% until 5-2019): 7775
Car lease: 0(!)
Total Debt: 62275
RHSA: 14870
457B: 22255
cash: 4000
Total assets: 41125
Net worth: -21150 (+12863 since 2-26-19, +29450 since 8-16-2018, +42350 since 12-9-2017)
11-27-2019
Federal Student Loan (6.25%): 53410
Credit cards (0% until 5-2019): 0 (!!)
Car lease: 0
Total Debt: -53410
RHSA: 16706
457B: 32281
cash: 5900
Total assets: +54887
Net worth: +1477!!! (+35,310 since 2-26-19, +64,977 since 12-9-2017)
I'm really excited about this, for a number of reasons. First, and obviously, positive net worth! 2nd, paying off my CC's is a huge deal to me - I've carried some kind of balance for at least 15 years. I do feel a psychological weight off my shoulders, and it feels sublime. Finally, I'm on track to max out my 457 b contribution this year, which is fantastic for yet more reasons: saving for the future, and lowering my taxable income, thus lowering the amount I'll be required to pay on my student loans (the balance should be forgiven in 26 months, so I'm all about minimizing my payments).
Woo-hoo! (I'm currently celebrating by eating a delicious $1.50 container of Greek yogurt)
I wish you all success in your own journeys, and happy Thanksgiving!
Post by: SwordGuy on November 27, 2019, 11:25:59 PM
In the spirit of the holiday, I'll do an update so as to feel thankful for how far I've come...
Net worth: +1477!!! (+35,310 since 2-26-19, +64,977 since 12-9-2017)
I'm really excited about this, for a number of reasons. First, and obviously, positive net worth! 2nd, paying off my CC's is a huge deal to me - I've carried some kind of balance for at least 15 years. I do feel a psychological weight off my shoulders, and it feels sublime. Finally, I'm on track to max out my 457 b contribution this year, which is fantastic for yet more reasons: saving for the future, and lowering my taxable income, thus lowering the amount I'll be required to pay on my student loans (the balance should be forgiven in 26 months, so I'm all about minimizing my payments).
Woo-hoo! (I'm currently celebrating by eating a delicious $1.50 container of Greek yogurt)
I wish you all success in your own journeys, and happy Thanksgiving!
Thanks! You've gotten the worst of it off your back! What a great way to celebrate Thanksgiving!
Make sure your paperwork on that loan forgiveness is 100% in order. I bet we'll see a posting from you in 26 months. And a shout of joy so loud we'll know to look for the posting!!
Post by: Trifle on November 28, 2019, 04:04:16 AM
In the spirit of the holiday, I'll do an update so as to feel thankful for how far I've come...
, , ,
Net worth: +1477!!! (+35,310 since 2-26-19, +64,977 since 12-9-2017)
, , ,
I wish you all success in your own journeys, and happy Thanksgiving!
Congratulations on crossing the zero @EarlyInJourney! You're doing great. See you in the Race to $10,000 thread. Happy Thanksgiving!
Post by: EarlyInJourney on December 09, 2019, 07:25:08 PM
Thanks, @Trifele! I appreciate it, and yes, I'll move on over to that thread!
Post by: EscapedApe on December 12, 2019, 04:19:02 PM
June 2019
Student loan (federal): ~$13,000 @ 3.75%
Student loan (private): ~$17,000 @ 6.00%
Net worth: ~ -$30,000
December 2019
Student loan (federal): ~$12,000 @ 3.75%
Student loan (private): ~$11,000 @ 6.00%
Net worth: ~ -$22,000