January 2008, A Starting Point
You have to start somewhere and this day is it.
At the start of 2008 I have a net-worth of $5,747.52.
Assets: $29,300.64
- Cash in Hand, $100.00
- Emergency Fund, $1,000.00
- House Down-payment Fund, $2,975.03
- Corvette Fund, $1.00
- Savings Bonds, $356.12
- 401K, $8,148.14
- Taxable Stock Account, $3,169.28
- Prosper Loans, $317.57
- Family Loans, $1,780.00
- Toyota Corolla, $10,000 (kbb.com value)
- Apartment Security Deposit, $1,453.50
Liabilities: $23,553.12
- Student Loans, $19,193.61 (6.00%)
- Car Loan, $4,359.51 (4.99%)
Last year in October saw my very first positive net worth since I began tracking it after graduation. I hope to keep myself above this very meaningful threshold. It makes me feel good inside knowing I am now building wealth each month instead of simply digging myself out of a hole.
I have adjusted my budget for the new year. Notable increases should allow me to live a little bit without jeopardizing my financial future. There are things that I would like to do now while I am young and I’m not going to get in the way of myself if it only will set me back a few hundred dollars. I’m not talking about visiting Europe or anything. Going skiing in Vermont, go visit some of the good old US of A. That sort of stuff.