We’re kickin’ it old school Missy Elliot styles today because Spenderella is crazy excited that her net worth is on the up-up-up!!
I know you feel me now
I know you hear me loud
I scream it loud and proud
Go, get ur net worth on!
Go, get ur net worth on!
Q2 is behind us and we’re a few weeks into Q3 2015; it’s been a tough year with the no spend, but the results are very tangible.
Net worth as of 07/16/15: $31,630.62 (Up $7,756.61)
Net worth as of Q2 end 06/30/2015: $29, 599.13 (Up $5,725.12)
This is an increase of 19% since the last update from Q1 03/09/2015 based on Q2 end numbers not July 2015.
Note: this does not include my car, as I don’t consider it an asset. I consider it a rolling money pit.
Savings (RRSP) $6,346.77
Car Loan -$8,470.86
Credit Cards -$2,147.67 *This is ALWAYS paid in full now.
Line of Credit -$28,702.24
2015 Q2 3-Month Snapshot
“Credit card” includes credit cards and my LOC. “Loan” means my car loan. It’s odd how Quicken 2015 classifies things. Sometimes mildly frustrating.
Q2 2015 saw me switch over the majority of my retirement investments to a self-directed plan, which cost me a small amount of worth. I paid $300 in transfer fees but was able to get $169 back, so not a huge loss for the gain in control over my investments and the removal of hefty 2.5% MER fees.
My auto payments continue to decline, with June 2016 being the very LAST payment I’ll ever see. I’m very much looking forward to that day. That will free up money to save for my next vehicle. I save a small amount now but my efforts are concentrated on debt repayment.
There was a small amount of juggling between credit cards and my LOC, which was poor planning on my part. I did it to avoid 19% interest because I couldn’t pay the balance in full one month. Thankfully, I’m back on the let’s pay our cards off in full plus make our debt payment each month wagon. I like that wagon, it’s a fancy one that actually gets you somewhere besides backwards.
3 Things that are boosting my net worth:
The No Spend Year – not frivolously buying beyond my means whatever I want whenever I want has helped me make a serious dent in debt and increase my worth.
Self-directed investments in Index Funds – Switching my retirement investments over to self-directed index funds has helped my retirement savings go from stagnant to moving again.
Budget – We’re all reading Budget Bloggess here right? No matter what your financial situation, keeping a budget is key (especially if you’re a reforming shopaholic).
Previous Net Worth Updates:
Q1 2015 Update
1st half of 2014 Okay Spenderella, What’s Your Net Worth?
1st half of 2013 Freaky Friday – Positive Net Worth & July Goal Updates