Photo: Salt Sand and Smoothies
This month was a little rough. I ended up spending a little bit more than I expected. There were a few expenses that came up that I didn’t plan for, but it seemed to work out alright.
Total Cash and Bank Accounts (+$1,900.88): I get a small amount added to my life insurance policy every month. This month it was $59.08. I also was able to get paid on a few days of vacation time and sick leave that I didn’t use this year. This was added to my monthly balance.
The extra added will be used to pay down some of the expenses that happened this month.
IRA (+$18.73): My investments did alright. I ended up getting a dividend payment from Vanguard for both my bond index and total stock market index. I look forward to seeing how the stock market will pan out now that the Federal Reserve has raised interest rates. I plan to re-balance my portfolio at the end October 2016.
Credit Cards (+$1,629.61): I had to get my car sensors repaired, and my wife needed a laptop for her business. These two expenses added up to over $1,500. I also invested in purchasing Shun Knives that I got at 65% discount of the MSRP. These knives I plan to hold on for the rest of my life.
I plan on sticking to my plan of paying down my accounts in order from highest interest to the lowest.
Tax Loan: (-$270.71): I should be done paying off this debt by the end of February at the rate I am going. I’m excited to check this debt off this list.
Car (-$235.53): Slow and steady will pay this one off in time.
Student Loan (-$129.53): This is by far the hardest thing for me to get rid of. It’s also going to be the last thing I’ll end up paying off. The interest rate on this isn’t too bad at 4.47%.
Misc Loan (-$3.27): This account isn’t a big deal for me to have sitting around. It is a loan from one of my life insurance policies, and I don’t pay any interest until my premium payment is due.
I will reveal my plan paying minimal interest on my life insurance policy in a later post.
Overall Net Worth (-11,631.57) Increase (+929.04 or 7.4%) So far so good growing my net worth with only cash. I don’t expect January to do very well with my IRA at the rate the stock market is going.