November is done and gone, and the Thanksgiving left-overs are finally gone with it. I’ll be trying to burn off that weight for the next few months! Did our net worth grow as much as my waistline?
As always, you can check the latest and greatest info on the Track Our Progress page.
First, the numbers:
Net Worth:
- End of November Balance: $402,268 Up $19,607 (5.12%)
- Year to Date (YTD): Up $97,268 (31.89%)
Portfolio:
- End of November Balance: $280,641 Up $8,963 (3.30%)
- YTD: Up $40,641 (13.2%)
After a nose dive in October, it is nice to see the market perking back up again.
Monthly Contributions: $6,291 Down 15.48%
This is due to putting a slightly higher amount into savings in October due to how the pay checks fell that month.
November Highlights
Bathroom Remodel in Full Swing
One way to help burn off that Thanksgiving feast is some good ol’ fashioned hard labor. On Black Friday, I started ripping out our daughters’ bathroom. My wife and I just finished grouting the floor tile earlier today. I am hopeful to be complete in the next week or so. Working all weekend and on nights after I get home from work is draining and I’ve been moving like an old man stiff with arthritis, so its good to see progress taking place.
You can follow along on our remodeling story with Part I here. Here is where the bathroom stands at the time of this post:
Diminished Value Claim Payout
I was in a car accident in September, which I discussed in Net Worth Update 10. A pickup truck struck my car on my way into work. The police report assigned responsibility to the other driver and their insurance covered all $8,000+ repairs to my car.
Since my car was purchased brand spanking new in March I figured the value of the car plummeted once the accident was recorded. As it happened, my father-in-law mentioned a co-worker of his filed a “diminished value claim” and received additional compensation to make up for the lost resale value.
So I asked the insurer about this process and they had me submit a separate claim. I had to fill out a short questionnaire about the vehicle’s history and provide proof of registration. Additionally, we had to substantiate the loss in value. To do this, I spent about an hour at the dealership getting the car appraised while my wife scoured the internet for comparable used car prices. I submitted this research to the insurer.
After a little back and forth negotiation, they offered $2,000. We could have hired an attorney to pursue additional money or gone the small claims court route, but we figured the likelihood of coming out with a better deal minus the legal fees would be low.
$2,000 with about 2 to 3 hours of work is a pretty good return on investment, if you ask me! Since the car is paid off and I have no interest in selling it for years, this is a nice bonus. Just another way to see opportunity in adversity!
Coming Up in December
Work Bonus?
I was notified that my work will be paying bonuses in December. These are not guaranteed, so we never factor them into our budgeting and spending. I am trying not to get too excited, but hopefully, this will be a nice boost along our way to our short term savings goal.
Year End Expenses
Nothing gets me in the holiday spirit like a personal property tax notice from the County. Woohoo! Thankfully, we are paying based on my old truck that I traded in earlier this year. Next year won’t be pretty with the new car value added in. Just another reason to buy used in the future…
On a good note, we are hopeful to set aside a little money for a charitable donation. There are a lot of options to choose from, but it’s nice to weigh out these kind of options.
Thanks for reading, Happy Holidays, and check back in next week!