It’s been a few months since I’ve written but I’m back! Happy New Year, Festivus, Kwanza, etc to everyone. I’m hoping that all my readers had a great end to 2012 and it wasn’t nearly as crazy busy as mine! Between work, my new apartment, and the holidays, I nearly lost my mind. Fortunately, my wallet didn’t suffer TOO much over this time. With that said, let’s take a look at my Net Worth (Template courtesy of J. Money at Budgets are Sexy).
Overall, things have improved from September to December! My net worth has gone by by almost $3.5K and we’re getting awfully close to the negative $10K threshold. That would be a big step for me! I started the year around negative $24K and with a potential increase in salary coming my way, I think I should be able get into the positive net worth area later this year! Let’s break down the categories and see where I improved and where I can use more work:
Checking Account: A half decent improvement, it’s a bit more than I’d like to keep in my spending money. Ideally, I’ll always keep this under $2000, moving the excess every month to either my ING or to my Vanguard.
Savings Accounts: Yikes. These guys took a bit of a hit as we bought some furniture and the Christmas season got into full tilt. A trip to Texas for Thanksgiving with family also nicked it up a bit. Hopefully this will be noticeably bigger by the end of 2013, as I have doubled the amount I intend to put away each month.
401K: This just keeps trucking away. It’s already the biggest part of my net worth and I just upped my contribution for 2013, which will be matched by my company. I’m set up reasonably aggressively in it but I’m not too worried about it. It’s money I won’t be using for a while, so it can match the market for now.
Vanguard: I’m reasonably happy with this and with Vanguard. The progress here is good. Not great but good. Considering I didn’t even have this at the beginning of last year, I’ll consider this a victory. A very, very small one. Since I’m trying to move towards a positive Net Worth, I’ve double my monthly investment into here as well!
The Acura: This decline is to be expected. I wish it wasn’t so under water but hopefully my loan will catch up faster than the depreciation can move.
Overall, my assets didn’t go up very much. The depreciation of the Acura took out any of the real oomph I might have had. Fortunately, I killed it in the debt reduction the past three months. As of December 31, 2012 I am Credit Card Debt Free. I’ve knocked my student loans and my car loan down a decent amount and will be contributing more to this after the first quarter is up. For the next three months, the money formerly known as credit card payments will now go into the savings and the Vanguard fund. I’d say that I’m making good progress on getting to a positive Net Worth. Hopefully I can move this even further along in the coming months.
Tomorrow I’ll be posting my goals for 2013 in both my personal finance life and just my regular life. If you have any suggestions, leave them here!