It feels like Summer is coming to a close. Normally at this time of year we would be sitting in our first classes of the new semester. Instead, we have our 9-to-5 jobs to attend. We’re a little sad — well, bittersweet is probably the better description. We miss seeing familiar faces of friends and enjoying life in college. But we don’t miss reports, projects, and homework! I guess working at our jobs and earning a nice paycheck is a worthy trade off.
Once again we have been able to record a GAIN to our net worth! As of the end of August 2005, our net worth has increased by $5,228 to a new total of $47,189. In terms of dollars and percentage, this is a new “increase” record for us. We are quickly approaching the $50,000 net worth level too.
Noteworthy highlights for the August 2005 update:
- My wife was able to setup and begin contributions to her company’s 401k account this month. As such, I have added a new line-item for “401(k)” under the Assets heading above. For now this will just be my wife’s account value. Eventually, when I am allowed to start my 401k plan at work, we will include my account value too.
- I am taking advantage of a 0% interest and 0% balance transfer credit card offer that came in the mail. No interest will accumulate and only minimum payments are due for the next 12 months. I was able to write a check and deposit it directly in our Vanguard taxable brokerage account. For this reason, there is a bump up for that account as well as an increase in our credit card liabilities. I will let the money sit in a money market account and earn interest over the next year. Since it is a money market account, this ensures almost no risk to losing the money.
- Even with our new 401k account and subsequent contributions, we made sure to contribute a little to each of our Roth IRA accounts.
- We made our first official mortgage payment on 8/1/2015. The total payment to the bank came to $1,047.94. Of this amount, $735.94 went towards interest, $207.61 went towards property taxes (to be held in an escrow account until December), and only $104.39 went towards lowering the principal balance. Only $147,895.61 left to pay off now. I expect to keep paying this minimum amount for at least another year. But at some point I may increase the payments so we can pay down the loan balance faster.