Month End July 2006 Net Worth Update
I am still considering this a “starting point” in terms of tracking my net worth, and will be developing exactly how and what my net worth updates will be presented.
Alas, the image below shows very nearly exact amounts and interest rates on my credit cards (CC), retail credit cards (RCC), and loans.
If you do the math, my net worth comes out to be ($20,898.12). This was actually a pleasantly surprising number for me! Prior to doing the math, my feelings were that my credit card debt was much more serious. While I won’t be able to knock them all out this month, I certainly will be able to make progress.
Only one way to go from here!
Holy sweet baby Jesus.
The good: You have it in one spreadsheet. VERY helpful.
The bad: 30%. 26%. 25%.
Every penny toward 30%. And never miss a minimum payment on the rest.
What happens when you apply for lower-rate cards?
Do you ever get “convenience checks” from CC4? Do they have a balance xfer option?
I have been down twenty grand and I learned how to hammer down rates. Twenty grand at 0% feels a lot different. So long as you make your payments, you are considered very valuable to the CC companies, and you can use that to your advantage to negotiate lower rates. Please feel welcome to email me if you’d like to discuss the topic further.
:???:
really don’t understand why you have several cc with high rate mean while you try to save 1 dollar at lunch. I will apply for a cc with low transfter rate, and move all other cc balance there. Then you can still spend 10 on lunch.
Ah, good question Dan.
To which I have a few answers:
my credit situation will not allow it… yet!
1. If I save $2 at lunch every day ($8 vs $10), at the end of the month I have an extra $20 or so to throw at my credit card debt.
2. I would love to apply for a cc with a low transfer rate, but sadly
Hopefully that clears it up a bit, but really the bottom line is that I can eat healthy filling lunches for $8 without really giving up much. If I happen to goto a sit down restaurant for lunch (which rarely happens because I never have that kind of time), then I just save the $2-3 on soda or tea and get water.