Our Current Financial Picture
When I read financial blogs, I like knowing the writer’s financial stats, so here are mine:
Household Income: $105,000
Mortgage: $139,435 at 5.88% Fixed
Second Mortgage: $35,149 at 7.86% Fixed (We took out a 80/20 loan when we purchased our house a few years ago - dumb. But at least our rates are fixed.)
Student Loans: $14,248 at 3.5% and 3.13% Fixed
Car Loans: $2,494 at 6.05% (This is the loan we are currently paying extra on)
Credit Cards: $3,426 at 2.99% Fixed until balance paid in full
401ks/ROTH IRAs: $40,272
College Savings for Stepson (age 9): $2,184 (no longer contributing to this)
Emergency Savings: $1,000
Total Net Worth = $54,000
Our goals for 2008 are to pay off the car loan, credit card and about half of the second mortgage, while contributing 5% to my husband’s 401k (he has a 5% match) and $50 a month to my ROTH (my 401k has a 3% employer contribution with no match required, and approximately 7% for profit sharing). I’ll be giving an update on our progress every month or so.
One response so far
[...] worth as of February 15: Approx. $54,000 Net worth as of April 1: Approx. $63,415 (does not include market fluctuation [...]