With the S&P down for the month, I didn’t think this was going to be a particularly good month for my net worth calculations, and I was correct. As I mentioned last month,for the first time in years, I have some debt I have to get rid of. I think I only mention it to make myself feel better, but while I have the liquidity to pay everything off it seems like a terrible Idea so I created a debt repayment plan:
- Step One – End of this week get the AMEX down to where it has to be (leaving a little bit over a grand).
- Step Two – Pay off the Disney Card ASAP. It is a small card, with an interest rate. There is no reason to keep a balance on it.
- Step Three – Get AMEX down to $0 and try to keep it there (I say try because it is my main card and so it has auto payments).
- Step Four – Pay off the cell phone and mattress purchase. While they are at 0% for those small amounts there is just no reason I should even have to think about them.
- Step Five – Keep Chase Sapphire Card under $1,000 balance
- Step Six – Attack Bank of America aggressively.
About 2 weeks after creating this plan, my daughter was born and I had missed payments on the 0% accounts. After getting the fees reversed, I decided to just pay off the two small zero percent balances since keeping track of them were a pain in the ass. In the end what was I really saving? The amount just wasn’t worth it.
My goal is to pay off a grand per month. This past month I paid off $1,689.
Calculating my Net Worth
- My Cash Savings Accounts – I only really count my emergency savings since everything else is ear marked to be spent elsewhere. This amount is lower than what I would like to be. I am hoping to move it up to a comfortable level with my bonus at the end of the year.
- My 401(k) – Just keep throwing part of my paycheck at my 401(k) even though I sort of hate my 401k. For the past few months I have been buying and selling within this account…I just posted my actual returns from this pure market timing technique.
- Random Non-Qualified Investment Accounts – This thing has TUMBLED but I am proud to announce I am DONE with gambling on penny stocks. My gambling will be kept to casinos (and some of my holdings in my investment club).
- The Wife’s Roth IRA – This account only holds to 2 funds. An index fund of the market and a dividend paying fund.
- My Dividend Investment Portfolio – Easily my favorite part of my financial
- Home Value – A lot of bloggers seem to stress over home value. In my old place I just rounded to a number that I thought I’d sell for (I was off by less than 1%). I am just going to keep using my purchase price for at least the next year.
- My Traditional IRA – I started to actively trade this account lol. Not proud. I just made the financial confession that I was speculating in some really shitty stocks. I am done with it – and will roll out when I can.
- My Mortgage – Every so often I think about putting money towards the mortgage but I always back off.
- Law School debt – A while back I paid off the much smaller of the loans I have a while before this category makes any significant moves.
- Credit Card debt – As mentioned above the goal is to reduce it by a net $1,000 per month.
My Net Worth Growth
- From September 2014 to October 2014 my net worth increased .5%
- Year to date I am up 6.19%