Monday, November 2, 2009

October '09 Progress Report

Hope you all had a great Halloween! I went to Knott's Scary Farm this year and had a blast. There's nothing like spending 12 hours at an amusement park to remind myself how old and out-of-shape I am. (My legs and butt are still so sore.)

Good news is that my Progress Report this October isn't as scary looking as it was last year.

funny pictures of cats with captions


Starting Debt (6/31/08)

Last MonthThis MonthDIFFERENCE
Private SL$49,528.99$44,306.73$43,926.89$(379.84)
Fed'l SL$55,852.68$53,961.10$53,828.16$(132.94)
Credit Card$13,610.75$11,086.08$0.00$(11,086.08)

Woo hoo!! My total debt is now below six-digits! To those who are new to this blog, I didn't pay off $11,086.08 in credit card debt in just one month. This was an ordeal that spanned years.

My credit card pay-off finally picked up momentum in March when I arbitraged my credit card debt with a 0% interest rate offer. Ever since then, I paid the minimum towards my credit card and pretended to pay additional amounts into my savings account. When the 0% offer expired, I used the "savings" to pay off my credit card debt.

Although I should be snowballing my remaining debt, I've decided to take a couple of months off before I get back into the grind.





The savings that is reflected here is my "emergency fund" that I am not supposed to touch unless there is an absolute true emergency. I try to save about $100/month or so into my EF.

I have an additional $5,000.00 or so set aside for "earmarked" spending for such things as car maintenance, Christmas, etc. I need to start replenishing my earmarks as well as continue saving into my EF. Ugh.



Rats. I added an additional $1,612 last month into my 401k and my net worth only increased by $886. Must mean that the market went down again. I have to admit, it's a lot less stressful when I don't pay attention to market movements. It's a bummer to see a flat lined net worth at the end of the month, though.

The breakdown and the history of my net worth can be seen here.


jpkittie said...

wahoo - what amazing progress!!!! keep it up!

Miss M said...

We went to 6 flags last year and boy did I feel old afterward, we were exhausted (and nauseous) for days! I had the same experience this past month, my gains were far less than the amount I invested for the month. Oh well, at least it's not as bad as last year. I'm going to do an Oct to Oct comparison later this week, it's cool to have a year's worth of data now to look back on. Here's to hoping for more positive months to come!

Ms. MoneyChat said...

that 11K drop in the credit card line looks awesome! it doesn't matter that the progress spanned several years, to see it in the monthly progress is a great motivator, and it's not even my debt;-).

so, how long is your debt payoff vacation going to last? inquiring minds want to know;-).