September 2017 Financial Update

It’s time again for our financial update. This one is for September 2017. You can read last month’s update here. To see all our financial updates, please go here.

September 2017 Financial Update Summary

Total Net Worth$188,000-$2,400
Assets$436,800vs Previous
Savings$300+$0
Home (based on Zillow)$324,700-$3,500
Vehicle #1 (based on KBB)$8,800+$0
Vehicle #2 (based on KBB)$26,900-$900
Stocks/Bonds/Mutual Funds/ETFs$55,500-$100
Peer-to-peer Lending$10,600+$100
Real Estate$10,000+$0
Liabilities$248,800vs Previous
Home Loan$203,400-$1,100
Home Equity Line of Credit$0-$0
Home Depot Credit Card$1,900+$1,900
Vehicle #1 Loan$10,100-$100
Vehicle #2 Loan$33,400-$400
Credit Cards$0-$2,300
vs Previous

All amounts have been rounded to $100 increments for readability.

Notes

Our newest vehicle resumed its tailspin to lower values after a relatively calm month. The older vehicle seems to have mostly stabalized and hasn’t lost value in the last two months.

Our home’s value pulled back a bit on Zillow. Since keeping track, however, we’re still up significantly. Sadly, its drop actually made our net worth go down this month.

We decided to split out our Home Depot Card from the other credit cards as it really doesn’t have the same purpose. Instead of the home equity line, we’ve been using it to purchase the majority of the items we’ve been getting for the remodel.

It gives us the option to pay it off over six months (sometimes more) with no interest, but typically we’ve paid it off each month. This month we added $1,900 to it (for the carpet we mentioned last month). We didn’t pay it off yet because we bought it on 9/30.

Assets

So far so good on the Junk Bond we purchased at the end of last month. It made it’s initial interest payment, and if it makes all of them (three to go), we’ll make money even if they don’t pay the principal back. Fingers crossed…

Our stocks were flat for the last month. It’s a little disappointing because the market has been hitting new highs. The biggest factor has been Kroger (KR). It was down quite a bit while most everything else was up. This seems to be due to Amazon buying Whole Foods. KR is currently down over 30% from the time the deal was announced, and our investment is down abut 10%, but we think the reaction is way overblown, and this is a long-term buying opportunity. We shall see…

Our Lending Club investment is starting to falter slightly. We have one note over 30 days late and 5 notes that are in hardship deferral. Most of those are related to the recent hurricanes. Depending on how things play out, we’re still making between 11-16%.

Fundrise remains unchanged. We receive our money back this upcoming week, and then we’ll reinvest it in a fund that is valid for retirement accounts.

Liabilities

The biggest news is that we paid off all our consumer credit cards! We need to take care of the carpet purchase on the Home Depot card to say we’re completely done, but we’re essentially cash flowing now.

Goals

During September, we were able to pay down the rest of our credit card debt. This was better than we had hoped. The extra income from contracting work helped us out here.

We paid for my wife’s schooling, our quarterly taxes, and handled a nice chunk of debt.

We need to pay off the Home Depot Card that we used at the end of the month, and then we need to start saving and maxing out our Roth IRAs for the year.

We have the following items left on our remodeling adventure:

  • Downstairs bathroom (25% complete) – estimated $3k left
  • Upstairs bathroom – estimated $5k
  • New front fence – estimated $2k
  • New side driveway and back patio – estimated $18k
  • New external siding – estimated $25k (this needs to be done in the next year or so)

Goals for October: Continue (we’ve done $2,750 so far) maxing out our Roth IRAs for 2017…hopefully around $2,750. Possibly add some money to savings.

Longer Term Goals: Financial independence, remodel our fixer-upper home, opportunity to travel throughout our lives

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