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Welcome to our July net worth update. I’m a little late to publishing last months update, but I’m trying to settle into the new posting schedule. We were hoping to slow it down a bit in July, but it turned into a typical fast paced month for our family of five.
The fourth of July seems so long ago, but we enjoyed a long weekend of family, friends food, and fireworks. Although our sixth family member Mushu has developed a pretty severe case of anxiety when it comes to loud fireworks.
He’s almost four, and it seems as he has gotten older he’s level at which he can tolerate fireworks has diminished. We tried a calming collar, but it didn’t help much. Our next steps will be speaking with his veterinarian.
We celebrated our youngest son’s 15th birthday. We hosted a backyard barbeque with family and friends. Since last months graduation party menu was a big hit, we carried it over for this celebration. Santa Maria style BBQ. Which included tri-tip, chicken, coleslaw, and, baked beans. For dessert, we served a Hershey’s homemade Perfectly Chocolate cake. Our son’s favorite.
To keep the Hershey theme going the family spent a long weekend in Hershey, PA at Hershey Park. We are big fans of amusement parks and roller coasters. We had a wonderful time. Here’s our oldest son showing off the benefits of compound interest if you start saving early. Wait for it……
My son demonstrates how the momentum of compound interest works. Wait for it……
Posted by Debt Discipline on Wednesday, August 2, 2017
I haven’t been to Hershey Park since I was a kid, and if you are unfamiliar with the founder, Milton Hershey and all of his philanthropy work, please take a minute to look it up. I was amazed to learn of all of the great things he continues to do, even after his death.
We also spent a good amount of time this month college prepping. There is a good amount of paperwork to be done for incoming freshmen, and guidance is needed for impatient teenagers. We want our son and daughter to take on most of this responsibility, but it can be confusing, even for us. We are sitting with them and helping them along the way.
I’m glad to see there is a real focus on borrowing money via student loans by Universities. More on that process in a future post.
We did track our expenses this month but did not have the results we expected. Although we did opt to road trip a weekend get away for our vacation this year as opposed to a cross country trip, it did not have the instant win we were looking for. We spent higher than expected again in the entertainment, food, and gas budget buckets, but are fully aware and tracking, baby steps.
Now on to the real reason you stopped by the numbers, I continue to use Personal Capital* to track our finances. Have you seen their new dashboard? I like having one place to aggregate all of my accounts. I also continue to update my excel spreadsheet. I still like crunching the numbers myself.
Another tool I’ve adopted recently:
Rize* is a saving tool that gives you the ability to save for goals you set that add value in your life, like retirement, a vacation, or a future purchase. You can have multiple savings goals at once which all help you start building a saving habit and separate this behavior from spending.
Our July Numbers:
Net Worth Details
Cash (-$1,355.00): Another significant drop in our cash due to additional cash flowing of the events for the month of July and our annual life insurance payment. This is not the trend we want, and we are taking steps to address.
Rize (-$151.99): We dumped DoBot after the notified us they would be charging a monthly fee. We are sticking with the free tools for now.
Retirement (+$6,837.00): This mark the 9th month straight with gains! We have over 300K in our retirement accounts and growing.
529s (+$108.90): Considering we are depositing $75 a month, a modest gain. The twins accounts will be withdrawn in August.
Autos (+$637.00): I use Kelley Blue Book for our car values. Plenty of peaks and valleys in the used car market, but it’s still nice to have three well maintained paid for vehicles in our driveway.
Home ($0.00): Still an estimate, we have no plans on moving for at least 8-10 years.
Mortgages (-$756.00): Our only liability. We are 8-10 years away from downsizing our home. Our goal is to continue to pay off as much as possible and build equity.
How was your July? What’s on tap for August? Any last minute summer plans? Any recommendations for dogs who can handle loud fireworks?
*The Personal Capital, and Rize links are affiliate links. If you sign up, the blog makes a little bit of money. I only recommend products or services that I use personally and believe you would benefit from too.