Thursday, November 1, 2007

My Net Worth – October 2007 – ($105,058.04) – 0.55%

Since it’s the beginning of a new month, I want to pause the current series to take a look at my net worth. I’ll post an analysis entry like this one at the beginning of every month to measure my progress.

Assets:
Cash $1.50
US Bank Checking: $1,363.59
ING Savings: $893.43
PERS Retirement: $2,249.08
Car: $7,000
Personal Property: $1,000
Total: $12,507.60

Liabilities:
US Bank Credit Card: $3,409.41
Chase Credit Card: $484.73
The Bank of Mom and Dad: $7,610.24
The Bank of Friends: $526.27
Car Loan: $5,921.33
AES Student Loan: $817.89
Sallie Mae Private Student Loan: $58,746.01
Sallie Mae Federal Student Loan: $40,058.68
Total: $117,574.56

Net Worth: -$105,066.96
Change from Previous Month: 0.55%

My student loan consolidation became final as of yesterday, which made me very very happy for two reasons. 1) It’s finally behind me and I can get on with the business of paying down debt at nice(ish) interest rates. 2) I didn’t want my net worth to be screwy this month because the new loan showed money paid out, but one of the old loans didn’t show the credit yet.

My growth this month was fairly small, mostly because the consolidation brought a couple loans out of the grace period, so the accrued interest capitalized and the total principle went up. I’ve adjusted the progress bars in the sidebar to reflect this. Also note, the student loans are listed individually now, instead of all lumped together.

A big positive this month: found money. A couple days ago, I remembered that I’d been putting money into a retirement account at my last job. A web search and a phone call later, and I discovered I had over $2,000 in there. Awesome!

Overall this wasn’t a great growth month, but I’m very proud of myself for finally making it over the consolidation hurdle. In fact, tomorrow’s financial revolution post will detail that beast.

Next Time on TVG&M: Student Loan Consolidation Is a Pain in the—yeah, that

1 comment:

Matt and Carol said...

Hey! You made progress! Better than going the other way!