Just posted our first Net Worth update in five months. As I posted previously, we paid off our credit card debt last summer, quite a bit ahead of schedule. We have then moved on to paying off our car loan. We were hoping to get it wiped out this year, but instead bought a new mattress and spent some money on Christmas gifts... so we have $4,223 left. We started the year with over $14,000 left on the car loan and $46,000 in credit cards, so we have still made HUGE progress this year... paying off over $50,000 in debt!
Our total net worth right now (excluding our cars) is $347,000. We are up $40,000 since our June 30, 2010 update, and if we look back just over a year to October 1, 2009, we are up $98,000.
November 2010 net worth update on NetworthIQ
In other financial areas... we refinanced our primary residence a couple months ago. Our mortgage is still a 15 year mortgage, but is now at 3.75%, down from 4.75%. We had previously refinanced the apartment back in May, cutting the interest rate on that mortgage over a full percentage as well, resulting in total payment and interest savings of several hundred dollars a month.
Our house needs a new roof, soffet, and fascia, and we have been given rough estimates of $30,000-$35,000 for the work. That number is shocking to me, but want a quality roof and to maintain the architectural integrity of our 98 year old house, so we will probably spend the money to do it right. That means we have a LOT of saving to do next year, so we need to keep up the momentum.
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