Retirement Account: $26,238.46
Estimated home value: $389,910.00
Credit card debt: $8,335.35
Student loan: $60,314.41
Auto loan: $26,094.93
Home Loan: $241,386.76
Total net worth: $80,017.01 (up from 3,677.84 in February 2014)
- Credit card debt increased slightly, and it is still too high for my comfort zone. The culprits seem to be my making credit card payments that are too large and then running out of cash at the end of the pay period (a vicious cycle), unexpected travel costs arising from recent trips to visit family out of state in Utah and Oregon, and excessive spending on food and entertainment.
- The recovery and stabilization of the local housing market accounts for much of this net worth increase. We continue to benefit financially from having purchased a house at the lowest point in the local real estate crash in 2012.
- Slightly above minimum payments for auto and student loans are finally starting to make a dent in these larger loans.
- Minimum payments for low-interest loans and larger payments on credit cards will be the norm going forward until credit card debt is significantly reduced or eliminated.