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Monthly Financial Update for April
By Jay | May 3, 2008
As expected, it turned out that April was a good month financially.
I hit two milestones: my net worth is above $60,000 for the first time, and I have over $100,000 in assets. I never thought that would happen! Too bad most of it’s in my retirement account and can’t be touched for another 15 years. Now, if I can just get my debt down to zero……
I have $5,200 more in savings than at the beginning of the month. About half of this is from my tax refund, and the rest is from my book business. My retirement account is up by more than $2,000, and I’ve paid off almost $700 on my credit cards since last month.
I have $10,000 on a zero percent credit card and the promotional rate on the card expires this month. I am planning to pay off the full amount. It’ll wipe out my savings, but I think I’m ready to take that risk. My monthly expenses will be lowered by $300, and if something happens to my job there’s always severance. I’m still $1,200 short of $10,000, but if I really stretch, I think I can do it by 5/30.
Getting my credit card debt down to $20,000 will be a real milestone!
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Stumble it!
May 3rd, 2008 at 9:25 pm
yeah, great job on accumulating cash to pay off your credit card
May 5th, 2008 at 5:04 pm
Congrats Jay - amazing job, I’d pay the 10K credit card down as well. Worse comes to works you always have it as a fall back.