Net Worth for October: -3.03%

So I have been really slacking lately on keeping post updated.

Car issues are the primary reason for my 2-month Net worth slide. On the good side, my wife has a job now so I can't complain about that.

On the not so good side - with the economy the way it is, I may or may not be so gainfully employed in the coming months depending on a few external factors.

It might be back to the 2nd job search -once again.

September 2008 Net Worth = +0.69%

Wow, I just eeked by on the positive side given the market going down took a nice chunk out of my retirement.

It's nice to know last minute Wedding money is still coming through to go into savings.

Now, I can only hope that next month will be a nice increase. With the market these days and an unprecedented, presidential election around the corner, only time will tell.

August Net Worth: -9.74%

So it looks like after all the wedding expenses , a little post-wedding Honeymoon spending & household spending, my Net Worth has decreased by a little less than 10%.

As of right now, I think of that as a mixed blessing. The wedding expenses began to pop up out of nowhere during the last week of the engagement. At the same time it could have been much more expensive than it was. I think our aggressive bargain-shopping helped us out.

My wife and I just went to a wedding this weekend that had at least 300 people in total (ours had about 180 guests) and it boggled my mind how much everything must have cost. My wife initially told me that the couple was paying for the wedding themselves. Afterwards though she informed me that the groom's parents had picked up the tab for the fairly lavish reception. My guess is the reception alone was in the low 5-digits and that's with no alcohol and no DJ.

In other news my wife just got a decent-paying job however, after the first week, she came to the determination that she hates the work environment with a passion. I almost passed out this weekend when she said she was planning on quitting [Today]. Luckily I talked her out of it and she is back on the job hunt, while still gainfully employed (whew).

Now, if only I can get my computer running again along with a reliable schedule - I'll be set.

July Net Worth: +16.81%

So it looks like - my Net Worth took a nice turn for the better this past month. However, looks can be deceiving and a large portion of this increase will eventually go to wedding expenses. Next month we will be the interesting month. Once one financial picture is joined to the other.

Do I just keep track of my checking when it's really our checking?

Will we come home from the wedding with many unexpected expenses or many thoughtful presents?

Will I be able to mold a seemingly spendthrift* fiance, into a frugal wife?

Will my fiance be able to get a decent job once relocating?

All these questions and more will hopefully be answered next month.

*I have no real proof that my fiance is a 'spendthrift' per say - it just seems that more and more expenses are being tacked on to replace those that have been reduced. And my fiance does not seem to want to haggle or question any face-value price. She also won't let me get involved with negotiating at all or tell me who she's negotiating with. Which is frustrating when I am two hours away and can do little to stop her from paying...full price(sigh).

Progress Report - for week ended 7/27/08

Here are my goals for July 2008:

1. Break even or Increase Net Worth - Not sure on this one now. I might be able to pull it out due to an extra paycheck for the month.
   
2. Set up website for business - Met with my new webmaster, bought the website carteblanchmedia.com now I just need to switch it from an ad for GoDaddy.com to a decent site explaining what I'm doing. I plan to meet again with the webmaster tomorrow.
   
3. Set up checking account for business - With wedding issues coming up I haven't had much time to devote to this. If I get any free time in the next week or so. I'll be on the phone to the State to find out my Businesses' tax ID code.
   
4. Get business cards for business - I still haven't put together a decent thought on what my business cards should say. If there's any downtime this week - I may pursue this further.
   

So it is now T-minus less than 2 weeks before I get a ring put on my finger and I am no longer a single guy. Everything is pretty much paid for and accounted for but it is the minor stuff that keeps on jumping out of nowhere and scaring me.

June results/July Goals

This is basically just a recap for June:

1. Publish Debt Freedom book (online or otherwise) - FAILURE - Got a little input from a family member that the book needs a lot of work. So it looks like publication won't be happening this month. I did send in my forms for the LLC but because a minor omission (forgot to add LLC at the end of the Co. name) the powers that be in the great state of Ohio sent the form back to me - along with my check. You'd think the fact that I was filling out an 'LLC application form' would make the LLC part inherent but, what do I know - especially about state bureaucracy.
   
2. Join (or start) an entrepreneur's group - SUCCESS - I just went to great group last week and I plan to check out another one this coming week and a 3rd at the beginning of next month. I'm pumped. Hopefully the next two are as great as the one I went to on Thursday!
   
3. Post at least 25 blogs this month - FAILURE - As I look at my blogs for June it looks like I've published 21 so far including this one. Close yet no cigar I guess. handling last minute wedding issues hasn't exactly helped the matter either.
   
4. **Subscribe to Inc Magazine - SUCCESS -Done - yup I finished this simple goal way early. Maybe as a confidence booster for my other goals.

This month is going to be tricky - it's just slightly over a month before wedding nuptials so I think most of the goals might center around that. Did I mention that my 401k went down from last month? That's with me contributing + my company contributing 50% too - it still went down - almost makes a brother want to give up the long-haul investing mentality but I digress.

Goals for July - here we go:

1. Break even or Increase Net Worth - this will be a task indeed with all the wedding spending that's likely to occur in the next 30-40 days.
   
2. Set up website for business
3. Set up checking account for business
4. Get business cards for business

OK that last goal - the business cards is kind of just a 'gimme' goal - the rest though will be a challenge to say the least, especially since goal #1 is in direct or at least indirect competition with goals # 2, #4 and probably #3 as well. Oh well, if I can just remain focused and centered I think I have a chance of making it through.

Getting rid of 'Net Worth'

As I'm trying to promote myself more by getting involved with entrepreneurial groups It seems more and more likely that my ability to remain anonymous is less and less of a likelihood. That being said I have decided to take down my Net worth widget so as not to expose myself completely. I do however, plan to continue to note by what percentage my Net Worth decreases or (more hopefully) increases.

Speaking of Net Worth, I just finished filling out the paperwork for an LLC and I think that was my main obstacle. Now if I can just remain focused long enough to put a stamp on it and send it in. I have this weird feeling of trepidation & excitement all mixed together - kind of like I felt when I was a little kid the night before I had a big game or track meet to compete in.

Wish me luck!

May 2008 Net Worth

So here is my Net Worth as of May 2008:




Obviously, that stimulus/rebate/IOU check from Uncy' Sam worked a little bit to help me increase the Net Worth again. It would be even nicer if I didn't have to worry about paying it back next year at Tax time but, I'll try and keep my mouth shut and be grateful.

Wedding planning is chugging right along. I think we may have enough to handle everything right now, BUT I have this funny feeling there are a lot of 'little things' that will take little bites out of the budget until it is no more. So we shall see.

In other news - Got My Internet back! I've felt slightly disabled these past couple weeks without it. If anyone lives in Ohio & has some computer issues let me know - I found a great guy on Craig's list who fixed my computer for a really decent price.

April 2008 Net Worth

So it appears my Net Worth took a bit of a hit this month. Fortunately, I know that the hit is mainly my car's value and not any additional debt. A few weeks back my tire went flat which led me to find some additional damage on my vehicle that takes it from being in "Good" condition down to "Fair". It's OK my car will be alright but the difference in Value is about $750 give or take. Plus old 'Carmen' is coming close to pushing 200K so it might be time for a new ride very soon.

On an entirely different note - I am really glad I'll be switching back to my home Internet come tomorrow once it's installed in the new place... one major disadvantage of library Internet is the possibility of sitting next to pseudo-homeless person who hasn't bathed in days. People sitting around you begin to think your the cause of the stench and it might be rude to just stand up and point to the person next to you who's causing the stench. So much for manners...

Anyway - once my Internet is up and running I'll be posting my goals for May. Until then thanks for reading.

March 2008 - Net worth

So I had a pretty decent month this month despite a decrease in pay:


It appears Good ole' uncle Sam along with my part-time job came to the rescue and gave me a lot to be thankful for. Now it's up to me to try and become focused and find a way to shell more money into the Wedding account without bothering my bride-to-be about expenses - a difficult task but I will do my best to achieve it.

I will report on goals tomorrow if not sooner.

February 2008 - Net Worth

So, after a wild month I am back into the realm of the gainfully employed. I had a small dip in the Net Worth category mainly due to a) a reduction of contribution towards the 401k in order to save some more and b) switching over some personal savings to the wedding savings account.

Right now, the Wedding savings account has just cracked the $2000 mark. so we're making some head-way towards a debt-free wedding. Now, the challenge for the coming month will be saving just as much - while having a smaller primary income.

Hopefully I can find some alternate source of income other than the 2nd job.

January 2008 - Net Worth

Despite the impending job loss it appears that I am making headway in the Net Worth department. I would say I can thank the lack of debt especially for this.



Hopefully, I'll be able to get a decent paying job in the next month or so so I can continue the positive trending. With the stock market on the Fritz these days though, who really knows.

December 2007 - Net Worth

It appears that I am recovering from some of the unexpected surprises I've run across during the majority of the fall.

Despite a family member's birthday party, and some last minute Christmas-shopping, I made it through the month with a bit to spare and surpassed my goal for passing the $8,500 mark. I would write more but it's New year's day and I reserve my right to be lazy.

Happy 2008!

November 2007 - Net Worth

OH - yeah! Finally, I broke the 8K threshold ...that has been eluding me like Moby Dick eluded Ahab.

Now the goal is to stay 'above' the 8K line.

I believe there are a number of reasons I was able to achieve my 3 month-old goal:

1. There were no additional major unexpected expenses (as I cross my fingers for good luck while I type)
2. I decided part of my emergency fund should go to my most recent credit-card 'emergencies'.
   
3. My 401k has consistently gone up (even though the DJIA as a whole took a 4% drop for the Month)
   

I think the key reason would be the last one, without a positive return on my 401K this month I would be just under (if not way under) the 8K goal. For the short-term at least it appears that my conservative investment strategy is paying off - as far the long term though, it remains to be seen. I'll have to look back a year from now and see how I did.

For now though, I think I am going to enjoy a greasy, transfat-filled, heart-attack inducing $7 Value meal in order to celebrate. It's too cold here in Ohio to do much else...plus they're trying to ban the heart-attack inducing transfats here in Ohio so I might as well get in while the getting is good.

Progress Report - for week ended 11/4/07

So it's been a few days since I set my goals - here's the progress thus far:

1. Finish chapter editing on novel - I just finished editing Chapter 7. Chapters 1-7 are now edited.
   
2. Make $100 in alternative income - I am in the process of filling out applications right now. Nothing retail, for now, but I'm not ruling that out completely.
   
3. Raise net worth above $8000 (third try is a charm) - this will take work and Goal #2 multiplied about 10-20-fold in order to reach but, I have 25 days left so hopefully I'll make some progress over the next 3 weeks or so.
   

Hopefully, I will be able to achieve all three goals. [Channeling good luck now]

October 2007 - Net Worth

Okie Doke, it appears that the debt has come back to haunt me. I blame the terrorists.

Also, a spontaneous engagement and even more spontaneous car breakdown do not bode well for the pocketbook.

I'm really kind of sick of the way my Net Worth is 'trending' and I plan to correct the trend shortly.

Ultimately, I need a second stream of income. At the same time, I have no interest in picking up a part-time retail job at the mall again. I'd like to look into something more long term and less labor intensive. Only time will tell. [crossing fingers as I focus]

Progress Report - for week ended 10/21/07

1. Sell more things on E-bay - still haven't received my check back from 'i sold it on e-bay'! I didn't get a chance to go in and inquire about it this past week but, I need to this week. I was talking to one of my co-workers who sells things on e-bay and he said that he's made more this month than what he makes at my 1st job - in the future I believe I'll sell things myself and not rely on a sell-for-you E-bay service.
   
2. Make $100 in alternative income - I'm starting to see a little bit more of a return from Google and other sources but it's still under the $10 mark.
   
3. Raise net worth above $8000 (again) - even though the month isn't over yet I don't foresee hitting this goal at all at this point. This is due in large part because after a long conversation with my girlfriend ...I decided to propose, she said 'yes' - and then went out and bought a ring - on credit :( - with her in tow. It hasn't hit me yet but judging by her reaction it definitely hit her - by now she has contacted all of the inhabitants of her native land and then some...I love her though and I can finally tell her about this blog.
   
4. Apply/try out for 3 finance related freelancing jobs -SUCCESS I sent out 3 'feeler' e-mails to different online sites that are accepting freelancers. still no response though.
   
5. Pay off remainder of debt/collection - SUCCESS - I paid this off the other week.

Blog of the Week: PF Blog

This week's blog of the week goes to the old-school PF Blog and his blog about:

Arbitrage and Credit score.

MM at PF Blog has been Using 0% credit cards for the last several years to charge to the limit into cash which he then in turn invests into high-interest (4-5%) savings accounts that bring him extra interest income throughout the year. It appears he made about $3,000 in the past year by this 'scheme' on the credit card companies.

However, his credit score has shifted from the low 700's to the mid-to-low 600's due to the average $45,000(!) in credit card balances. Now for the average American income this may seem slightly insane but seeing as MM has an over 800K net worth it's not really an issue.

I personally am scared to death of arbitrage but, I like MM's opinion on credit score:

"But credit score is only of cosmetic value if you don't need credit any time soon. To me, after all, I have no better use of my credit score now that I'm sitting on a portfolio of over $800k and has no plan to buy a property any time soon."

I long to be in the position that MM is in right now, where personal assets and cash flow are at a point that makes credit score somewhat of a non-factor.

September 2007 - Net Worth

Oh Man, I don't even want to talk about how disappointed I am about this month's (ahem) increase*.

The biggest hit - in my opinion - came from the fact that I realized I had been including air conditioning on my car's worth estimate despite the fact that I have no A.C. in my car!

There is also the severe lack of cash due to paying all my bills basically over the weekend and today.

I also have remained committed to tithing - mainly cause I'm superstitious - but, also because It's good karma.

Hopefully, some of that good karma is starting to come back though. I called the Collection company today and asked them if I paid off the collection in full this week if they would take it off my credit. The collection agent asked me "let me talk my manager and call you back" she called me back 3 minutes later and told me "We can't take it off your credit...but will you pay it all anyway?"

I said "no, I'll pay off $420 with a check I'm sending today, and pay the rest of slowly" we then exchanged pleasantries and said goodbye.

here's where the negotiation kicked in without me even knowing it...

About 10-15 minutes later I get a call and it's the Collection agent "hi Reggie, it's Boopsie from Dooey Cheetum & Howe Collections. I just talked to my manager and we're willing to offer you a settlement-in-full offer if you pay $620 this week rather than the $420 you're about to send in."

In other words they are willing to knock off $600 off my debt since they finally found a 'live one' for the day.

I reluctantly accepted with the personal reservation to negate said agreement if I determine "settlement-in-full" on my credit ends up being worst then "paid-in-full". I'll charge the $200 to my new 0% card at the end of this week and then pay it off once I get the bill. But, honestly, does anyone know the answer?

Does settlement-in-full look worse compared to paid-in-full to lenders? Or are they all the same thing?

Obviously if they're the same thing it's a no-brainer here.

Anyway, I digress. Time to work on some goals for the month ahead.

August 2007 - Net Worth

As you can see, my net worth took a nice, -4% hit this month due to a collection I found after pulling my credit report. Hopefully, I will be able to pay that off within the next 2-3 months and be back within the realm of debt freedom. It felt pretty good while it lasted.

Otherwise, my liquid assets went up quite a bit. My credit card debt now stands at '0' , which is where I'd like it to stay but, since collections are a much worse form of debt than credit card debt I think I'll be shifting the collection over to a 0% credit card later this month.

In fact most of my newly increased liquid assets will be going towards the collection debt. Since I still feel as if I'm in debt-free mode though I won't be devoting all of my energy towards that debt. Instead I'll devote most of my energy toward it but still give myself allowances for extra food, clothes and other things I personally have been skimping on for the past two years or so.

If I really wanted to I could pay off the entire debt today but I would have $0 to my name - I still prefer that emergency cushion just in case something else pops up later this month.