Saturday, March 1, 2008

Networth Update - 2.22% pts closer to my goal this year

If last month was the lowest point in my blogging career, then this month's networth update should have been precluded with some sort of financial training montage. February saw a dramatic turnaround for my networth, led by bonus season, more strict adherence to my own budgets, and a significant decrease in my utility bills (which I will blog about separately).

Compared to last month, my networth is up 0.29% or $2,904.20 (all networth percentages are based off of my goal of $1 million).

On the horizon, are a few networth neutral, but debt ratio clearing items: paying off a large chunk of credit card debt and paying back a parental loan.

Also, I will be filing taxes soon, and if I eFile, I could have my tax return back this month as well.

There is only one cause for concern. I am off on a week-long cruise in the Caribbean in the second week of March, and I hope I can stick to my usual food and discretionary budget, but that is doubtful.

Anyway, overall, this brings my networth to -$7,285.93 or -0.73% away from my goal. But compare that to a year ago when I started with a networth of -$29,509.52. That is a 2.22% increase to my goal compared to last year! Only 6 more years to go.

Here's a nifty graph that tracks my monthly networth:


Anonymous said...

Emergency fund still $0?


Finance Guy said...

I struggle with the emergency fund idea. I don't know how it differs from my savings account, 401(k), and/or other investments.

So far, I would think if I have a savings account, that is also my emergency fund.

Anonymous said...

The idea of an emergency fund is simply cash for a rainy day, in a savings account so it's liquid.

If you have 3-6 months expenses stocked aside in a savings account that counts. Perhaps just take the higher of your two accounts and make that the "emergency fund"