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)
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.
