Comments

  1. The debt reduction you’re undertaking is awesome. You’ve gotten rid of over 10% of your outstanding debt in the eight month time frame. I think we’ve gotten rid of about 2.5 – 3.0% of our debt in the same time frame and I’ve been happy with that, so you’re doing great.

    As far as the home value, I use a combination of our asessed value, Zillow estimates, our bank’s ‘estimated appraised value’ and a ballpark figure based on home sales in the neighborhood. The best answer I have to your question is that assessed values tend to lag plus they’re done on a high-level basis. You really won’t know the ‘true’ value of your home until you actually sell it, so the best you can do is make the best estimate possible.

    • Thanks.

      I don’t worry too much about the value of my home and cars. They aren’t getting replaced or borrowed against, so the value doesn’t affect me much.

      Although, it would have been nice to see a big boost on the total net worth. 🙂

  2. 8 months is not bad for doing a net worth check up. Expecially when you are factoring in the value of cars and houses which really shouldn’t fluctuate much. But you definitely need to get that IRA going!

  3. That’s not bad in 8 months – a car loan going down and a few thousand on the credit card. Sometimes the debt repayment slog is a long road, but it’s worth it. I havent had much luck since jan either, but have had a GREAT August so far. I cant wait to update my net worth at the end of this month.

  4. You are doing great. I can’t believe your home value hasn’t plummeted much more than it has. You must be in a really great area…and to only owe $33K on the property has to be a good feeling.

    Most of the people I know are underwater. And my parents watched all of their equity in their home evaporate over the last few years. It is a sick feeling, but they have lived the good life and have good savings so there is no worry…not to mention their pensions.

    Anyway, best of luck with your goals. Seem like you are well on your way and way ahead of most people!

  5. I am impressed by your mortgage amount. Glad to hear you are working on getting out of debt, we are only three days away from a final payment.

    Your net worth is lookin’ good.

  6. good that home and car are almost paid off. Now you can soon start asset building

  7. Good job on paying down the credit cards to where you have. How long have you been in your house? you are close to having it paid off, that would make me feel great.

  8. You are doing great. Sometimes tracking these things reminds us all of what we need to do to safeguard our assets.

  9. Great job on the mortgage loan. Once that’s paid off, life will be so nice.

  10. Holy shit you only have a 33K mortgage? and aren’t you younger if I remember correctly?

    WOW! Why the lazer focus on it?

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