January 2014 Net Worth Check
Sometimes it seems like Mr. FP and I have very little show for twelve years of marriage and adult life. We lost buckets of money on a house that we had to sell when the market was down.
The truth is that we’re not really broke, we’re cash-poor. We’ve been funding retirement accounts and they’ve been growing; we can’t access that money readily, but it’s still there and we’ve never been desperate enough to touch it.
At the beginning of our Mustachian lifestyle, here’s where we are.
- Mr. FP’s 403(b): $25,036.13
- Mrs. FP’s 403(b): $15,373.43
- Mrs. FP’s Roth IRA: $6814.74
- 2007 Honda CRV, worth about $12,000
- 1999 Honda Accord, worth about $3000
Credit Cards: -$4059.66
- Mrs. FP’s student loan at 1.62%: $3491.02
- Mr. FP’s student loan at 1.62%: $7768.01
NET WORTH: $51,681.47
Well, it’s over 50K, which is actually more than I expected! We have really gotten our spending down and my income is up, so we’re hoping to see rapid growth. We’re also in the process of selling our CRV; $3500 of that credit card balance is actually a fee-free cash advance that we took out in order to pay off the lien and get the title so that we can sell the damn thing and get out of that particular hair-on-fire debt emergency. (It won’t actually raise our net worth–since the equity in the car is already counting toward it–but it will get our dollars working for us more effectively.) We owed closer to 6K, but we used some cash from savings as well. Once we unload the car, that will free up some cash that we can use to pay off my student loan and have some cash left over.