Networth Update: May 2012 (+4621)

The big news this month isn’t so much that my net worth has reached a new high but that I’ve rid myself of credit card debt again.

It doesn’t feel as great the second time around but it’s still a nice load off of my shoulders…

Anyway, here’s the breakdown:

Cash:
This is a little low because, well, I extended myself a bit to get rid of the balances on the credit cards sooner rather than later.

Savings:
With the weekly credit card payments a thing of the past, the pace here should increase to the tune of around $1200 per month…

Gov’t Bonds:
Hey, the rates are quite attractive when compared to a savings account…

Home:
Some months up, some months down.

Auto 1, Auto 2, and Auto 3:
They all dropped. Makes sense — they aren’t getting newer!

Credit Cards:
Hooray!

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

On second thought, you know, it does feel pretty darn great to have pretty much nothing to say about the liabilities.

Here’s to hoping I can continue on this path for the rest of the year…

Posted on May 2nd, 2012 at 8:42 pm by Brainy Smurf
Finance, Net Worth Updates | 3 Comments »

Networth Update: April 2012 (+$4221)

I can see the light at the end of the tunnel…

Thanks mostly to that insurance check, my credit card debt level is nearing zero again for the first time in nearly two years.

It feels good.

Here’s the breakdown:

Cash:
Glad I’ve been keeping my distance from the Bank of America fee threshhold.

Savings:
This is the result of weekly transfers of $135. Basically $95 goes in each week to cover my property taxes that come due in July and Decemeber. The other $40 is for whatever…

Gov’t Bonds:
Why am I still holding on to these?

401k:
I’m pretty sure that this is the highest point I’ve ever reported. It was back in October that I broke the six figure mark and I’m up 33% in just 6 months while making no contributions. Crazy.

Home:
Ebb and flow.

Auto 1, Auto 2, and Auto 3:
Eh, they all work.

Credit Cards:
If the balance isn’t gone this month, it’ll certainly be gone next month. It’s crazy what can be done when you really work at it and when some un-expected cash rolls in.

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment for now but once the credit card debt is gone, I’ll start attacking this more aggressively.

Posted on April 4th, 2012 at 9:22 pm by Brainy Smurf
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Networth Update: March 2012 (+$3324)

February has traditionally been a “wild card” month around here.

It’s usually because I’ve normally done my tax return in February but not this year — I sill haven’t found the time to sit down and do my taxes so this year, well, February’s just another month…

Lotsa red over there but the 401k bailed me out…

Cash:
Not much movement here. I spent pretty freely this month and I think it shows.

Savings:
Yep, I spent so freely that I had to take some from my savings. Actually, it was dentist bill but, still, I’m not proud of it.

Gov’t Bonds:
Woo-hoo! Three clams!

401k:
There’s a guy at work (a longtime co-worker) who mentioned a couple of weeks ago that he’d just recently topped the $500 mark in his 401k. In response, when I told him that I’d just recently eclipsed the $130000 mark, I’m pretty certain that he didn’t believe me.

I drove my BMW to work the next day just to subtly rub it in. I still don’t think he noticed. Maybe tomorrow I’ll drive it again and park next to him…

Home:
We had some trees taken down by a landscape service to the tune of roughly $2100. Coincidence?

Auto 1, Auto 2, and Auto 3:
Poor auto number three…

Credit Cards:
Not nearly enough of a drop here. As I said, I spent pretty freely in February but I’ve got that out of my system and the balances are all lined up to drop quickly again.

For the year, I’ve knocked out over $2500 so I’m still making decent progress…

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

Posted on March 21st, 2012 at 9:46 pm by Brainy Smurf
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Networth Update: February 2012 (+$8603)

January was a pretty good month for me.

While most of the gain was due to my 401k and 100% based on a swell in the stock market and not anything that I actually did, I’m still pretty proud of the progress I made on the credit card debt.

Cash:
My side income was a bit higher than normal — especially at the end of the month — which definately shows in the category.

Savings:
After taking a few thousand out in December to pay my property taxes, I’m back on the $135 per week deposit plan.

Gov’t Bonds:
The variable rate portion of these is starting to become noticable. Just five bucks? Sheesh… Hey, at least they’re still earning more than the same amount of cash would in a savings account.

401k:
I’m not totally certain but I think my balance here is approaching the highest level that it’s ever been. What recession?

Home:
This drop must be due the cracked piece of sidewalk out front. ;0)

Auto 1, Auto 2, and Auto 3:
The Scion took it on the chin because some jerk-wad dinged the passenger side door. That said, the car is over 6 years old now so it had a pretty good run…

Credit Cards:
Oh yeah… Down $3260 over the last two months. My financial goal for 2012 is quickly coming together.

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

Posted on February 10th, 2012 at 6:02 am by Brainy Smurf
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Networth Update: January 2012 (+$1722)

Starting the new year off right with a net worth just north of $250k.

Yep, that’s right, I’ve reclaimed my status as a quarter of a millionaire.

Cash:
December was a three paycheck month for me so there’s a little bit of extra padding here.

Savings:
Oh no! What happened? Well, property taxes came due. That’s okay, though. It’s totally built into my budget that when they come due (every six months), I’ve got enough in savings to cover it… no matter what.

Gov’t Bonds:
Will I hold on to these for the entire year? I doubt it. But while they’re still in my asset tank, I’ll gladly take the six or seven bucks for nothing each month…

Home:
Zillow.com currently lists my house as the most exensive on my street. This makes the roof of my mouth nice and warm. I know it’s not really true — but it’s still nice to see.

Auto 1, Auto 2, and Auto 3:
With no movement on the BMW or Land Rover, I’m thinking that their values may have bottomed out. I can’t tell you how awesome it’s not having to pay a car payment for almost four years now…

Credit Cards:
Crazy considering all of the Christmas expenditures but it’s on like Donkey Kong. Yep, I got started on my Goal for 2012 already.

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

Posted on January 12th, 2012 at 8:46 pm by Brainy Smurf
Finance, Net Worth Updates | 3 Comments »

Networth Update: December 2011 (+$773)

In these unstable times, I’m perfectly happy with modest $773 gain. Especially with all of the holiday spending, though, I suppose I shouldn’t make a final judgement until next month’s update.

Cash:
There’s no real strategy here at all. I get paid every two weeks and I’ve got automatic payments pulling from my checking account right down to the $2000 balance level (to avoid bank fees). It’s like auto-pilot.

Savings:
I withdrew $600 from here early in the month (to pay off a credit card balance) but managed to replenish it almost 100 percent. Unfortunately my property taxes are due this month so it’s going to drop off considerably but that’s what I set the savings account up for — property taxes.

Gov’t Bonds:
Month after month I question why I still have these. The return is just so much better than a savings account that, for some reason, I just can’t part with them completely…

401k:
It’s up. It’s down. It’s…whatever…

Home:
It’s worth far more to me but the mortgage payment says otherwise. It’s a total win-win.

Auto 1, Auto 2, and Auto 3:
Just this month I realized that we have four “older” cars (my wife owns one that isn’t reported here) that all have insanely low mileage. It doesn’t really mean anything, I suppose, but I’m starting to think that when you have a mini-fleet of cars to choose from, they all last longer.

Credit Cards:
I’m kinda shocked this went down, actually. That week after Thanksgiving turned out to be pretty expensive but I guess I didn’t charge quite as much as I thought I did. That’s a good thing — we’ve got to get this slate wiped clean by May 2011.

For the record, nearly the entire balance is on a Chase Slate card. See what I did there? Pretty cool, huh?

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

Posted on December 24th, 2011 at 6:19 am by Brainy Smurf
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Networth Update: November 2011 (+$7764)

Loving these huge swings up and down.

I mean, just look at the last year’s worth of updates and all of the movement has been huge…

Here we go…

Cash:
Still tight. I think I even inadvertantly went under the “threshhold” this past month. Booo…

Savings:
Nothing new here — just where I’m tossing $135 in per week to cover my property tax bill (due in December) and anything else unexpected.

Gov’t Bonds:
Treasury Direct’s login process just switched again. They claim that it’s easier but I’m finding it even more annoying than ever. If I weren’t earning nearly 6% on what I have left in there, I’d sell out in a heartbeat.

401k:
Months like this are why I don’t support the whole Occupy Wall Street movement.

Home:
A big snowstorm and tons of tree damage apparently had an impact on the value of my home. Or maybe it was a coincidence.

Auto 1, Auto 2, and Auto 3:
Not much movement here.

Credit Cards:
Not as much progress here as I’d have hoped but still over $1000 wiped out. I was really hoping to have it under $10k at month’s end…

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Just another minimum payment.

Posted on November 7th, 2011 at 9:12 pm by Brainy Smurf
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Networth Update: October 2011 (-$10237)

Yes, I know I’m 3 weeks late with this…

What can I say? I’m in a funk. A $10k loss will do that to ya…

But really, things are going pretty well financially.

Sure, money’s tight, but this latest round of debt elimination is moving right along. I see the end of the tunnel already and I’ll be right back where I was the last time I was debt free.

Seven or eight more months is my guess…

Here’s the breakdown:

Cash:
It’s tight. I’ve been sending $300 per week (on an autopayment) towards debt and whatever’s left at the end of the month.

Savings:
This is essentially an account where I’m tossing $135 in per week to cover my property tax bill (due next in December) and anything else unexpected.

Gov’t Bonds:
This is my emergency back-up.

401k:
Ouch. Things are so volatile lately. One day I’m up $2k and the next I’m down $4k. This number totally depends on what the last day of the month looks like. I think the top and bottom value for this month were over $17k apart so, yeah, it’s all over the place…

Home:
Yep, I live here.

Auto 1, Auto 2, and Auto 3:
Evidently this wasn’t a good time to own a car in Connecticut.

Credit Cards:
Now we’re getting down to business. The HUGE drop last month probably won’t happen again anytime soon as I don’t really have anywhere else to pay it down in $10k chunks.

This pace is more like what I’d expect it to be from here on out and I’d expect that by the end of this month, the total balance will be under $10k.

Auto Loans and Other Loans:
Nothing to report.

Mortgage
Just another minimum payment.

Posted on October 21st, 2011 at 5:43 am by Brainy Smurf
Finance, Net Worth Updates | 1 Comment »

Networth Update: September 2011 (-$2703)

In a complete reversal of last month (where I moaned about a $17k gain), I’m ecstatic about this month’s $2700 loss!

Yep — it’s not always about the bottom line but where the money actually falls.

Here we go:

Cash:
A nice cushion here. I’m going to do my best to keep it far away from the $1500 floor where Bank of America will start charging me fees.

Savings:
I tapped this in August, obviously. Partially to fund a vacation, partially to fund the car repairs, partially to purchase a new computer, but most importantly, to pay down credit card debt.

Gov’t Bonds:
I’m taking a new path now. Sold off most of these to, again, pay down credit card debt and cover some unplanned expenses last month.

401k:
Not as bad as I’d have expected based on the market volatility. In related news, I halted my contributions for the time being to focus more on, again, credit card debt.

Sense a theme?

Home:
My house was supposed to be destroyed by Hurricane Irene last week. Seriously, based on the forecasts, it was supposed to go right down my street.

My house survived but it’s value went down because I apparently live in the new hurricane alley.

(it just rained for a few hours. seriously…)

Auto 1, Auto 2, and Auto 3:
Nothing terribly earth shattering here.

Credit Cards:
Hell, yeah! Now I know some out there doubted me here but look at that… I knocked $13k off. Hooray for me!

After farting around for an entire year essentially treading water, I think I’m back on board and on the same rails I was riding for most of 2007 and 2008.

This debt is going to disappear.

Quickly.

I’m definitely on the right track and off to an amazing start.

Auto Loans and Other Loans:
Nothing to report.

Mortgage
Just another minimum payment. Have I mentioned how great it is to have a sub-$500 mortgage bill?

Posted on September 1st, 2011 at 1:32 pm by Brainy Smurf
Finance, Net Worth Updates | 1 Comment »

Networth Update: August 2011 (+$17069)

I know I sound like a broken record sometimes.

And I know it makes little sense to complain about the dismal status of my finances when posting about a $17k gain but… bear with me.

I beleive this is the highest that my net worth has ever been. I should be happy and, in a barely noticable sort of way, I guess I am.

But the credit card balance — and my total inability to pay it down as fast as I’d like (the way I have in the past) — is really wearing on me.

So here we go…

Cash:
July was a three paycheck month for me and this is where that shows.

Savings:
This looks too good to be true, right? Well, it sorta is. I took in a $5000 windfall.

That sounds awesome, right?

But then you notice that this balance increased less than half that amount.

See what I mean? I’m in a tailspin lately…

Gov’t Bonds:
Same old story here — except since the first of the month, I’ve been forced to sell off a pretty heft chunk. You’ll have to wait for the explanation on that…

Home:
Seriously? What’s up with this? I have no idea but it certainly makes the month look a lot better (on paper) than it actually was.

Auto 1, Auto 2, and Auto 3:
Nothing terribly earth shattering here.

Credit Cards:
I just can’t get this number to budge. Even worse, the biggest balance I have is no longer 0%. Ugh.

And to think, I thought I could be debt free again by the end of October…

Auto Loans and Other Loans:
Nothing to report! Thank heavens!

Mortgage:
Oh how I miss the days when I was overpaying this to the tune of $1000 with ease…

Posted on August 15th, 2011 at 7:29 pm by Brainy Smurf
Finance, Net Worth Updates | 2 Comments »

Networth Update: July 2011 (-$370)

Well, it was bound to happen sooner or later — a negative month that is…

It wasn’t as bad as I’d expected, though… I mean, I’ve been prediciting this “report” would come for months — just take a look at the last four or five net worth updates…

Cash:
Yes, I know. I spend too much.

Savings:
I had to dip into this a bit this month to cover the repair costs for that little accident I was in. Thank god I had the money available!

Gov’t Bonds:
Still sticking with these. You know, some of them are earning over 6% right now? Wish I’d bought more back then…

401k:
Stange month on the markets. It was high at the start of the month, dipped around $6k in the middle, and almost recovered fully by month’s end.

Home:
Not sure what brought the Zillow number (part of my home value calculation) up so much this month but I’ll take it. Hey — I have the highest valued house on my street right now! How about that?

Auto 1, Auto 2, and Auto 3:
Nothing terribly earth shattering here.

Credit Cards:
Sigh… Knocked another $500 off but I was hoping to knock at least $1k per month. The money just wasn’t there.

The good news is that most of it is still at 0% and the balance is falling. I’ve got to pick up the pace here, or formulate a span, or something, though…

Seriously, what happened to my financial goal for 2011?

Auto Loans and Other Loans:
Nothing to report! Woo-hoo!

Mortgage:
It’s now officially been a year since we refinanced the mortgage and since then, I haven’t sent the bank a single penny extra.

After 8 years of over-paying, sometimes even double the amount, it feels weird. Progress is definitely slow and I thought it’d have a larger effect on our overall finances than it has.

That said, it’s *very* comforting to have a sub-$500 mortgage payment for (insert tongue-in-cheek) the previously mentioned highest value home on the street…

Posted on July 2nd, 2011 at 7:00 am by Brainy Smurf
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Networth Update: June 2011 (+$1851)

I’m starting to feel like a broken record with these net worth updates…

I truly feel like I’m sinking but the bottom line just keeps increasing — this past month was no exception.

I mean, I realize it’s a pretty nice position to be in, you know, to feel like you’re bleeding money but somehow still finish with more than you started with.

Woe is me, right? I know, I know…

Boo-hoo, your net worth only went up 1800 bucks…

It’s an emotional thing rather than a math thing. I don’t feel like I’m making any progress — and that part sucks.

The math part is pretty cool. It doesn’t outweigh the emotional part though… For me, anyway…

So I’m back on the credit card roller coaster after nearly 3 years away from the peaks and valleys — and it’s killing my mood…

And, yet, I’m still making more than I’m spending.

It’s confusing.

Eitherway, I’m buckling down now and focusing on getting my debt level down. Savings will suffer a bit but it’s the credit card balance that’s making me feel like crap.

Here are the details on this month’s numbers:

Cash:
Just maintaining a constant balance here between $1500 and $2500. The $1500 mark to avoid a fee and the $2500 mark just cause if I go over that, I can safely afford an extra payment to the fine folks over at Visa and Mastercard.

Savings:
Already started cutting back on my contributions here. Basically, I’m only saving about $40 per week now plus $90 per week to cover my local property taxes which come due in July.

Gov’t Bonds:
I guess I could call this my “new” emergency fund. Should times get tough — like where I’m suddenly losing money each month — this is where I’ll need to draw from.

401k:
See, my mood is so low that I’ve even thought about stoping my contributions here. My employer no longer offers a match — and hasn’t for two years now — so it’s really tempting sometimes to shift my focus elsewhere. I’ve been contributing 15% of my paycheck for years now — maybe I should scale it back a bit to get out of this slump?

Home:
Whatever. Home values are pretty stable around here. Even if they weren’t, I’m not considering a move so it doesn’t really matter what the value is.

Auto 1, Auto 2, and Auto 3:
As expected, the value of a two-seat convertable jumps just as the weather warms up.

Credit Cards:
Well, I made some progress here. Not nearly enough — and you’ll see why once I publish my spending report in the next day or so.

I swear, I’m paying my balance down at a rapid pace — I just keep buying more stuff and negating 75% of my progress. Stupid. That’s why it blows my mind that my net worth keepings increasing — apparently I *can* afford to spend like crazy…

In all honestly, I’m treading water and I hate it. Oh, how I long to financially be back in the same position I was exactly one year ago with nearly $20k in my pocket and zero credit card debt…

I’ll get there…

Mortgage:
Just another minimum payment. I can’t believe that it’s been over a year since the the re-fi and I haven’t made a single extra payment.

Sometimes it makes me mad, especially after all of the progress I made on the mortgage balance prior to refinancing, but it’s the right thing to do (not overpay) when your monthly payment is insanely low like mine is right now — and for the next 29 years. (Don’t worry — I’ll have wiped it out by then…)

Posted on June 2nd, 2011 at 7:39 pm by Brainy Smurf
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