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Net Worth – March 2010

by Jeffrey Kosola on April 5, 2010

Hello everyone, it’s April 2010 and time to update the net worth again. This month was another very good one for us, over $8,608 added to our bottom line. Our 401K is helping quite a bit right now. We were able to add over $2,600 to our debt snowball. Boy does that feel good :-) When you are in debt there is nothing like taking big chunks out of it every month. All the hard work is paying off nicely.

Net Worth Snapshot:

Emergency Fund: Holding at $1,000.

401K: The 401K is doing very well lately. Of course the money from repaying our 401K loans it helping as well as our monthly contribution. I’m happy we are contributing up to my company match; once the debt is gone we won’t be starting from zero. We’ll already have a nice egg to continue to grow.

Car: Hey, Hey, Hey, we gained a little on the KBB value, must be because of spring. Everyone is looking for a new G-ride which might be driving the price north a bit :-).

House: This will remain the same until June 2010. June is approaching quickly; I’m getting nervous to see what the house is worth.

Snowball: More good news here. Our snowball keeps gaining momentum as it rolls toward the base of our mountain of debt. Pizza tips are starting to fizzles out a little bit (Lent = not much pizza delivery). I’m taking every other Sunday off which has helped my family life but not the debt life. It’s ok though, the IRS withholdings have kicked in and I’m getting a little OT at job number 1.

All in all we keep making great progress and it keeps getting easier to work our plan. If you are toward the beginning of paying off debt, KEEP GOING it gets better :-)

{ 13 comments… read them below or add one }

myfinancialobjectives April 5, 2010 at 11:25 am

Nice summary. I bet it feels great to be able to pay off big chunks of your debt off, like you said. You’re right, your 401k is doing REALLY well! During the past few weeks we all have expereinced the nice market rally, hopefully it will continue! I know my 401k is doing well too!
.-= myfinancialobjectives´s last blog ..Lesser Known Link Rally =-.

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Jeffrey Kosola April 5, 2010 at 1:23 pm

@MFO Glad to hear your 401K is rockin’ it too.

@FS 4-5 months I will have a NW in the black. One more year to become debt free :-)

@Ted I’ll write that post in the near future my friend.

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Financial Samurai April 5, 2010 at 11:26 am

Wow Jeff, $8,600 increase in your NW is huge! Sounds like in 4-5 months you are going to be totally debt free if the markets hold up.

Best,

Sam
.-= Financial Samurai´s last blog ..The Benefits of Debit Cards Over Cash and Credit Cards =-.

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Ted April 5, 2010 at 11:32 am

slowly but surely- great job.

I would love to see you do a post sometime about balancing paying off debt with family time. I am still working out how to balance work, family, and health and would love to hear how you do it.

I want to go eat pizza now thanks to you:)
.-= Ted´s last blog ..Retire? =-.

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Dr Dean April 5, 2010 at 4:43 pm

Great job. Making super progress. Keep it up!

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Mrs. Money April 5, 2010 at 6:00 pm

Wow, that rocks! You had a great month!
.-= Mrs. Money´s last blog ..What Would You Do? =-.

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Jolyn@Budgets are the New Black April 6, 2010 at 12:42 am

GREAT JOB. Your hard work is definitely paying off!
.-= Jolyn@Budgets are the New Black´s last blog ..Good Read$ for Your Weekend Reading Plea$ure! (a wee-bit late, but hey. I’ve been busy.) =-.

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Jeffrey Kosola April 6, 2010 at 11:29 am

@Dr. Dean, One of these days pizza delivery will make me as much money as a Dr. Dr. Jeff has a nice ring to it. I could say I have a P.H.D. in D.A.D. (delivering away debt) haha!!

@Mrs. Money, you are also so kind and one of my favorite bloggers :-) Try as I may, I’m just not catching up to you in the challenge…

@Jolyn, I’ll e-mail you later about the challenge information. Thanks for the encouragement!!

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LaToya April 6, 2010 at 9:01 am

Hi,

I found your article very informative and contained a lot of information.

I have recently started my own blog giving (hopefully) savvy spending and saving tips.

Check it out and spread the link

http://www.savvyspenderandsaver.blogspot.com

Thanks

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Stay at Home Mom CFO April 6, 2010 at 3:14 pm

I’m with Ted on wanting to see the “family balance” post – warts and all please!…My husband and I have contemplated him getting a pizza-type job to knock at the debt quicker (he is willing) but I am VERY reluctant to give up our time together.
Congrats on your progress.
.-= Stay at Home Mom CFO´s last blog ..The Scarlet “D” =-.

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Jeffrey Kosola April 6, 2010 at 3:29 pm

SAHMCFO Ok, Ok, I’ll get to work on the family balance post. First I want you and Ted to go back and read this post NOW!! to start to understand my thought process, The Sacrific of Eliminating Debt. I’m sure that you, Ted, and I all have a different view on “family balance”. If you really are serious about getting out of debt “family balance” WILL TAKE A HIT. I will write the post soon.

Take care,
Jeff

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Budgeting in the Fun Stuff April 7, 2010 at 9:13 pm

Wow, you are doing fantastic! Our net worth increase for March was mostly because of our retirement accounts too…doesn’t it feel good to watch them go back up (and even higher)?
.-= Budgeting in the Fun Stuff´s last blog ..The BFS Way to Diagnose Your Financial Health =-.

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Jeffrey Kosola April 8, 2010 at 3:30 am

@BFS It does feel good to see the markets trending upward this past month. Although I try not get to excited, they can go the other way rather quickly. The DOW at 13,000 by the end of the year would be great :-)

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