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ENW October 2019: $20,000

It’s October 1, and I promised I’d check out my net worth. I’ve peaked at it now and again at the bottom of Mint, but while Mint knows a lot, I have some secrets. So it’s time to do a real rundown.

Some things: we haven’t done as well with debt repayment as I’d like, we’ve spent more money than I’d like, I had a freelance job cancel on me in September, blah blah blah blah blah go ahead and judge me because isn’t that why we read blogs? But also please don’t judge me. ENW at the start of July was $12,000.

As of a few seconds ago, Mint thinks my net worth is $32,707.26. An increase of about $6K since Mint’s opinion in July. However, it does not reflect reality. Mint, you are dumb.

Here’s what Mint doesn’t know: I have about $19,000 in no-interest cards (Citi card, Bank of America, Lowe’s, IKEA, Home Depot). So…just from those balances, my net worth is down to about $13,000.

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 $21,500 in home improvement loans (solar panels, waterproofing the basement), $750 in brain surgery debt. So in this paragraph, I am down $22.5K, up $30K, so an increase in $7.5K from the previous paragraph.

So: $20,000! I’ll take it, especially because our “revolving credit card” credit account has crept up and I’m mad about that. I’m going to stop paying more than the minimum on the 0% cards for now until I get that figured out, with the goal of doing another transfer once those promotional deals run out if (when) there’s some left on there.

We have waaaaaaay more debt, especially consumer debt, than I am comfortable with – but the majority of it is 0%. We are hitting our stride with some smaller debts – a small solar loan gets paid off this month, then IKEA next month, then Lowe’s the next month, then my husband’s iPhone, then Home Depot, and a few months later we will get rid of PMI. This doesn’t change much except it means our payments on the bigger loans can be more substantial. Even though we have waaaaay more debt than I want, we’re in a good place in terms of The Plan.

I’ve been doing great with freelancing, hitting most goals or coming close, $3500-$4000 each month. Another year of this and we’ll be down to one big hopefully 0% loan. Just keep swimming.

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