Net Worth: Nov ’09

October was a fabulous month for my Net Worth. That extra paycheck last month, was amazing and allowed my NW to continue moving on up. I’ll take you all out to dinner to celebrate. And by “take you out to dinner” I mean “Do absolutely nothing for you.” Let’s take a look at the growth, shall we?. (p.s. I have had a couple people ask about my NW graph….I use quicken to track my finances and it makes the NW graph for me.)

Note: My NW is pretty easy to calculate because I don’t own very many things. I have a savings/checking account and a couple retirement accounts . I chose not to include things like personal belongings (laptop, camera, etc) or my car (which would add probably $8K to my worth) because I figure those are things I will always need and wouldn’t really want to go with out.

Checking Account: $5,182 +$3,939. I usually try to keep $1,000 in my checking account at all times. It got a little stacked recently because I didn’t do any money transfers while I was abroad. The internet I used was all public wifi and I was hesitant to login to my bank accounts on the internet. Now that I’m home, I’ll initiate some transfers. 

Savings Account: $14,735, +$23. My savings account currently earns 1.3% interest, so that is the only reason it grew over the last month. I stopped contributing to my savings account for the time being and will focus all my discretionary income to my student loan.

Roth IRA: $11,192, -$469. Freakin’ stock market pissed me off last week. It better not keep up these shenanigans. Although, if it does I might have to do some more investing 🙂

401K: $9,849, +$448. Eight percent of each paycheck makes its way in to this account. I invest in very similar funds in both my Roth IRA and 401K (mutual funds). I get 5% of my paycheck fully matched, so you know I’m not about to pass up free money.

Student Loan: -$17,867, +$127. Bleh. Worst decrease in student loan ever. It’s not my fault though, like I said I didn’t want to log in to my financial accounts on public wifi, so I didn’t make a huge payment in October. Don’t worry though, I’ll be diverting some of my checking account stash this way.

I’m rocking a solid  $22,420 net worth. I’m up $3,247 from last month. Usually I can grow by about $2K each month, so the over $3K gain for me was AWESOME. Mostly due to the extra paycheck and some overtime while abroad. Okay, I have to go pay down my student loan now.

If you have wondered why the blue bar (debt) in the graph sometimes increases, it’s because my credit card balance gets taken in to account each month. Even though I pay the balance in full it still appears as a “liability” in Quicken. I just deduct this from my checking account balance to give myself an accurate net worth reading.

Take care ya’ll.

4 thoughts on “Net Worth: Nov ’09”

  1. Question? What is the philosophy behind having so much in savings, but not using your savings to pay off your Student loan?

    • I wrote an article a little bit go about why I have chosen not to pay off my student loan. It’s called bring it on haterz. Check it out. Thanks for stopping by.

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