I used to confess this money secret pretty regularly, but I haven’t made mention of it for a while.
I don’t track our net worth. Famously. Infamously. Stupidly.
While it’s a rationale that’s probably complicated enough to merit a whole post, the short answer is that net worth doesn’t mean much to us right now.
We aren’t leaving our jobs any time soon, and so much of what people put in their net worths aren’t liquid assets anyway, that I’m not actually entirely sure what they measure or how accurately they measure it.
But.
I did learn that net worth calculations can be really good for your self esteem. They can also justify major celebration.
The other day, my husband and I totaled up our savings and checking accounts because we were having a conversation about “how much money in cash is too much money” in cash. The conversation took a left turn because we realized something amazing.
We have enough money to pay off our mortgage.
The entire thing. Every penny could vanish in a single click. (OK, that’s a metaphor because I’m given to understand it’s actually a pain in the butt to pay off your whole mortgage, but still. Metaphors are nice.)
We won’t pay off our mortgage entirely, but we will move some money toward it. And we’re feeling pretty good about our momentum now.
In the spirit of that celebrating, I wanted to share three more money wins from friends around the Internet.
Kate
What is your money win?
We saved enough money over time ($500/month) that now that we have two kids we have the account distributing $1000/month so there’s no change to our quality of life paying for two in daycare.
Why are you pumped?
It feels so good to reap the benefits of planning and saving, a good motivator for the longer term goals we’re working on.
What can others learn from it?
Saving does pay off! The pride I feel about this accomplishment is enormous, and motivating as we save for retirement.
Salty Old Lady
What is your money win?
I bought a $12.99 bottle of Irish Creme for St Patrick’s Day. I used a $3 coupon and a $3 rebate from an app. Total cost$6.99, for a 46% savings!
Why are you pumped?
I am pumped because I love getting discounts on booze!!
What can others learn from it?
Be savvy about discounts & and stock up when you hit the jackpot.
[Penny’s note: Yaaaaaaaaaaaaaaas! I adore stacking savings, and I love giving booze as gifts. We use this strategy quite a bit, but I haven’t had a win like this is a long time. Brava! Brava!]
Dave – Minimalism & Your Money
What is your money win?
We have knocked our student debt down from $76k in 2016 to $29k as of April, 2019.
Why are you pumped?
If my math is right and we don’t have any bumps in the road, we should be on track to be debt free (except mortgage) by the end of the 2020 school year! When we had $76k of debt, it seemed insurmountable, but now that we have chipped away at it and have gotten under $30k, I feel like we really are almost there.
What can others learn from it?
That while having a lot of debt from student loans or otherwise can seem overwhelming, if you can steadily work towards a long term goal, before you know it you are well on your way. This has been such a burden on us for such a long time so it’s awesomely strange that the fact that we are more than halfway through sort of snuck up on us.
Final Thoughts on Money Wins
One of the reasons why I want this money wins series to live on forever is because I get to litter the page with copious GIFS, and I can be so unabashed about it.
The other big reason why I think it’s so important to keep celebrating these wins is because money is sneaky. I’m not just talking about money that gets spent unexpectedly, either. The wins, the good things, the woohoo moments with money are elusive, too.
And not just because I don’t calculate my net worth.
But because money situations can and do change so quickly. And because life keeps marching on so we finished one goal and are already onto the next. It’s so important to slow down and celebrate.
Thanks for indulging in a little mid-week party with me, pals.
If you’d like to join the money win party, fill out this survey. Whether you are a blogger or a reader or both, you are welcome to party here!
Also, don’t miss any of our past money wins:
Volume 1 – Kate, Revanche, Melody
Volume 2 – Jody, Aitza, Little Miss Fire
Volume 4 – Zero, Kat, Mystery Money Man
Volume 5 – Anna, Debra, Claudia
Volume 6 – Kate, Are We Adults Yet, Money Saved is Money Earned
Volume 7 – Leigh, $76K Project, Josh
Volume 8 – Jill, Verokina, Mr. Green
Volume 9 – Budget Epicurean, Felicity, Erin
Volume 10 – Kris, Revanche, Aaron
Volume 11 – My Plutus Nod & Jo-Anne
Volume 12 – Amanda, Kudy, Laura
Volume 14 – Cait, Margot, Mr. Flexcents
So Tell Me…How are you winning with money lately?
I am so excited for you guys! It really makes the mortgage feel less scary getting to this point, doesn’t it? It’s so fun watching you guys slay your mortgage 🙂
It’s gotta be exciting to know you could pay off the mortgage if things went sideways. (Though if things go sideways you probably want that EF more than than a paid-off house, but still…)
The booze one reminded me of my own little win: Skyy vodka was on sale for $9.99 (usually $11.99) and I had a $2 off coupon loaded to the card. This means that I got a fifth of decent-to-good vodka for $7.99. I decided to get a few more things and make a small Moscow mules kit for a friend of mine who loves them but who keeps being frustrated that he never has the ingredients when he wants one.
Booze rewards are the best! ??
It’s so true!