In 2008, we’re going to update our net worth every quarter. Here’s the update for the last three months of 2007.
|September 2007||December 2007||% Change|
|TOTAL NET WORTH||-$41,303.44||-$32,059.99||22.3%|
|His SIMPLE IRA||$8,637.33||$10,004.43||15.8%|
|His Roth IRA||$6,552.56||$6,090.93||-7.6|
|Her Roth IRA||$4,798.93||$7,062.83||47.2%|
|Household Items ?||$25,000.00||$25,000.00||0.0%|
|Credit Cards (Rewards)||$1,439.08||$5,973.43||315%|
First things first: the credit card balance. Yes, it is high. We’re starting to make major wedding payments (like for my wedding ring). We’ve also put Christmas presents and the cost of entertaining guests on the cards. We still pay off the cards every month though and are not paying interest on that debt.
The student loan debt is slowly, but steadily decreasing due to our goal to increase our student loan payments. A few months ago, we put a good chunk of it on a credit card at 1.9%; that balance is reflected in the student loan category, not the credit card category.
Of course, if you look at the amount of cash we’ve stashed away these past three months, you’ll see that we have made more than enough to cover what we’ve put up on our cards. We’ve also seen some good increases in our retirement plan balances
Overall, we’ve increased our net worth by $9,243.45 in the past three months. That is a little lower than what we’re used to seeing. With the upcoming nuptials, it will be challenging to keep up a respectable rate of increasing the bottom line. We do have a few plans that we’ve put into place in order to keep everything going in the right direction, and we’ll post about them in the upcoming weeks.