Monday, November 3, 2008

October '08 Debt and Net Worth Progress Report

I really didn't want to do my October '08 progress report because it meant I'd have to look at my 401k and my investment account statements. But there's no point in hiding since I have to deal with it. Just like any other bad news, I just gotta suck it up and face it like a pussycat that I am, so here goes. (Wait. That didn't come out right. Oh, heck. You get the idea.)





MY DEBT
Starting DebtLast MonthThis MonthDifference
PRIVATE SL$49,528.99$48,576.21$48,270.11$(306.10)
Fed'l SL$55,852.68$55,483.81$55,349.50$(134.31)
CC$13,610.75$12,743.77$12,526.03$(217.74)
Car Loan$9,779.33$7,747.90$6,988.13$(759.77)
TOTAL:$128,771.75$124,551.69$123,133.77$(1,417.92)


The progress on my debt reduction plan makes me want to sing Fog Hat's classic song: "Slow ride, take it easy..."

I keep telling myself, "Progress is progress." But still.... grrrrrrr.....

You can check out the progress of my "Slow Ride" here in my snowball debt reduction plan.


MY SAVINGS

LAST MONTHTHIS MONTHDIFFERENCE
$7,356.51$7,574.98+$218.47


I try to save about $200 every month. As you know, I bought beer with the $10 I earned from my recycling proceeds, but I also made an extra effort to save an additional $10 as well. I guess I did well. :-D

I also opened a new high-interest savings account with Dollar Savings Direct. I always worried that I would become one of those crazy old ladies who collects cats. Thankfully, looks like I'm collecting savings accounts instead. :-D


MY NET WORTH

LAST MONTHTHIS MONTHDIFFERENCE
($4,316.87)($15,895.44)($11,578.57)




Writing about my net worth reminded me of the a classic MGM cartoon called "Bad Luck Blackie", about a cute white kitten who is tormented by a bully bulldog. The kitten enlists the help of a black cat who causes the bulldog to suffer series of misfortunes. In the end, you see huges objects falling from the sky onto the bulldog. Yep. That final scene pretty much sums up my free falling net worth. But I'm not going to dwell on that.



As indicated in my prior posts, I:

  1. Started purchasing I-Series savings bonds from the U.S. Treasury. I plan to continue to buy small amounts of bonds every month;
  2. Opened a new high-interest savings account with Dollar Savings Direct;
  3. Will start earning snowflake money through Pinecone Research.

I'm not expecting to, nor will I, get rich from these efforts. But they're all small baby steps in my long-term retirement planning and net worth building.

The breakdown of my net worth can be seen here.

3 comments:

Sharon Rose said...

Hi there-you are going in the right direction and very well done on your progress so far-I believe any progress is better than none, so good for you!

Moving on up! said...

You right! Progress is progress. I know how frustratingly slow in can be. Keep going!

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