Source: Excel for charting. General upkeep in quarterly review. I would add up investment accounts and bank accounts etc. once a quarter and total them. Most our assets are held in my 401K and other other IRAs.
$85K of student loans paid off!!
Updating a similar chart I posted yesterday to include the mortgage as requested.
All the debt my family (us + 2 kiddos) had was of student debt only—except mortgage of course.
In September 2023 we attacked our student debt with a vengeance, starting with a ~15K payment, using the momentum from there. Paid off in less than a year!!
We were making about $130K to $180K now total.
October numbers are projected based on current financials.
How did we do it?
• Wife and I both work full time + side hustles
• We live well under our means. 19 year old car (never car payments), 5 year old phones, low mortgage payment, etc.
• I spent almost every free hour that I had outside of work time or family time grinding side hustle work, knowing it would be temporary
• Minimal vacations, treats, and trips
• Can’t remember the last time we’ve spent more than $300 on something non-medical
A lot of this was done while paying $1700 for daycare monthly. You can do it too!
For anybody who wants this template I made 🙂
https://docs.google.com/spreadsheets/d/1YdpAFf0ehWeuJDPX2ah7gL_2I0MpUFAx/htmlview
Posted by WhenTimeFalls
10 comments
Source: Excel, manual tracking upkeep of investments and other accounts checking quarterly.
So you’re debt free, except for debt?
It might be more accurate than the one posted yesterday, but I think it’s less clear, less helpful, less interesting, and less beautiful. Just for whatever my opinion is worth.
I don’t know how to read this
As a 30yo renter with a net worth around 60-80k… why don’t I own a house. Am dumb, apparently.
I don’t get it. In July 2022, it looks like you bought the house and your debt and assets went up seemingly equally, so it looks like you added the value of your house to your assets. But that wouldn’t be right as you don’t actually have the ~$250k in equity on the house unless you made a massive $200k downpayment, which if that’s the case, why did you have any debt in the first place?
Thank you so much for paying off your student debt instead of placing it on the tax payer.
If you can afford (time wise) to hustle a little more, all that shit compounds. That’s your “fortress of fuckin’ solitude”.
Having a mortgage means you are not debt-free
How did you get a house with $2.9K in savings? Where I am at you would need $200-300K down for an entry level house, dang..