July 1 snuck up on me, is it summer already? Judging from the sweat rolling down my nose, yes. And is summer almost over? OH DEAR GOD IT’S ALMOST OVER.
July 1 means it’s time to look at ENW, which makes me nervous. We’ve been keeping mostly to the plan, so hopefully our number will have gone up from last month. ENW at the start of June was $7800.
As of a few seconds ago, Mint thinks my net worth is $26,296.96. You have to admit, that’s a nice number, with all those sixes and nines and twos. However, it does not reflect reality. Mint thinks I’ve had an increase of about $11,000 from last month. Mint, you are dumb.
Here’s what Mint doesn’t know: first of all, I’ve finally shifted all of my credit card balances to the no-interest cards, and I added about $1900 on a no-interest Disney card. Mint knows about the Disney card, but not about the $21,362 in total I have on other no-interest cards (Citi card, Bank of America card that was offering a no-interest transfer deal, Lowe’s, IKEA). So…just from that other credit card balances, my net worth is down to about $5,000.
But that’s not all! I have about $30K in my husband’s retirement account (I keep asking him to find out the exact balance, he keeps forgetting), but I owe about $22,300 in home improvement loans (solar panels, waterproofing the basement), $800 in brain surgery debt. So in this paragraph, I am down $23K, up $30K, so an increase in $7K from the previous paragraph.
So: $12,000! That is a huge increase from last month, but part of that is that I actually looked up the balances of my various small debts and I owed less on the home improvement AND the brain surgery than I thought. Still, I’m moving in the right direction.
We have waaaaaaay more debt, especially consumer debt, than I am comfortable with – but the majority of it is 0% and all of it is under 4%. We have also managed to follow The Plan for a couple of months now, which means that it’s possible – and we could have much of this paid off in just a few months (and nearly all of it in the next 18 months). We don’t pay anything off this month, but next month, we’ll get another small loan paid off (a PayPal no-interest thing my husband is in charge of).
I just rejiggered the spreadsheet, again, again, again. It’s going to be hard to maintain the level of freelancing I’ve been doing – but I think I can keep up with The Plan if I make $3500 a month, and that’s doable. Or, at least within the realm of possibility. The worst thing that will happen if I don’t make it work is that, at the end of the 18 months, whatever balance is left on the Citi card will just have a regular credit card rate, which won’t be great, but it’ll be a fairly small balance even if it does happen, and for a short term.