As mentioned in the introduction, we have A LOT of debt. This naturally corresponds to a large number of loans. Currently sixteen of them to be exact, averaging out to more than $24,400 per loan. Thankfully we don’t have sixteen different payments, as a number of these loans are grouped together with a single lender. While it would drive some folks crazy to have so many different loans, we like to have things broken down as much as possible. We’ve intentionally avoided consolidation, which wasn’t easy at times, especially when refinancing many of our loans to attain lower interest rates.
We’ve avoided consolidation for a few reasons, which we’ll get into at a later time, but the main driver is it allows us to improve our cash flow situation when we pay off a loan, which results in a decrease in our overall minimum payment across all loans.
Getting to our progress during December 2016, we were fortunately able to improve our net worth by $13,966 to a total of -$147,484. The majority of this improvement from November is due to increased value of our investments and savings being driven by both market gains and contributions.
On the year we improved our net worth by $134,372 by moving from -$281,857 at the end of 2015 to $-147,484 at the end of 2016 surpassing our goal of $10k/month improvement.
The goal for 2017 is to move from the red to the black, and end the year with a positive net worth. Given our projections and obvious market uncertainty, this will be tough, but it’s been our goal for the past few years nonetheless.
Be worth something by the end of 2017.
To do this, we’ll have to average improving our net worth by $12,290/month.