Wednesday, March 17, 2010

March Net Worth...

It's about that time of the month to break out the aspirin and calculator, and crunch the numbers. I was actually quite satisfied with the first net worth calculator in about two years. I thought it would've been worse. In the past two years, we bought a house, had about two children, and put a lot of money into the house. But it seems the value of the house is really helping out. You can see a detailed view by clicking on the picture on the left.

Liquid Assests: We could improve on savings verses spending on unnecessary items, but it feels good to be a little safe and spend a little more. But overall we've done a decent job of preserving our emergency fund cash supply. Unfortunately our cash is only earning under 2%. I've been very lazy with the finances in the past couple of years. I think I could've done a better job with that money.

Retirement: I have a 401K that I contribute 6% of my before tax salary. Unfortunately, my company is going through hard times and isn't matching any of it at this time. We also have a ROTH and Traditional IRA that we've made small and regular contributions to on an annual basis. But since the market hasn't been doing well for the past year or two, it's been reflected in all of the retirement funds.

Immediate Liabilities and Long Term Debt: Most of the credit card debt is our new furnace and central air. That part of the debt is interest deferred for the time being. The other part is a combination of necessary and unnecessary spending on our main credit card. I received our tax refund today, it's going to that today.

About a year after we bought our house, we took advantage of the low mortgage rates and went from a 6% to 5%, helping us out with tens of thousands of dollars in interest. We make little payments towards our principle with reward money from our credit card. That pretty much sums it up. Next I'd like to write up a post comparing out very first net worth 4 years ago, to today's. Climbing the financial ladder, slowly but surely.

Saturday, March 13, 2010

Big Layoffs...

Good thing I wasn't at work on Friday. Our company dropped the axe yesterday. 175 people in the I.T. department alone. Many people who I knew and worked with lost their job and were laid off. Some people that have been with the company for over 40 years. It looks like they went after the people with the higher range salaries. Time to update the resume and make sure I have an escape plan myself. What to do when you're laid off? Here are"30+ websites to visit when you're laid off."

Thursday, March 11, 2010

What? You want to save me money?

About two years ago when we moved into our new home, we signed up for cable TV, cable internet and voice over IP. The cable co. was offering all 3 services for $99 per month for a year, which is a pretty decent deal. I was able to squeeze one more year out of them by trying to cancel my voice over IP service. We don't really use our land line phone since we already have two cell phones that we use and pay for.

I recently canceled the VOIP, and was now paying regular price for all of the services which comes to about $130 per month. I was pretty bummed. That's an extra $360 per year. Until one day, well several days actually of getting calls from a strange phone number. I actually picked up one day and found it was cable company offering the 3 package deal again for $99 per month.

I took the deal, but they'll have to come back out to the house to check on the set up, which is free. That made my week...

Wednesday, March 10, 2010

Wow, that long?!

It's really been over 4 years since I started this blog?! I suppose it doesn't really mean much since I only updated it on a regular basis for a little over a year and a half after it was started. But, we're still making and spending money, so I guess we still have much to write about.

My wife and I are still with the same companies in the same positions. We still live in our house we recently purchased in mid 2008. The big addition to our family occurred 4 months ago today, with the arrival of our daughter. It seems we've become a typical middle class American family. A marriage, house, two children and a dog. Oh, and a picket fence in the backyard.

My wife has been on maternity and family leave for the past 4.5 months, so we haven't been saving any money. In fact, we're losing ground on the savings front. We've built up a good amount of credit card debt in the past year, but that includes a new furnace and central air unit. I've been doing our taxes for past 2 years using turbo tax, and it seems this is a good year. Last year we had to pay almost 3k between federal and state. Most likely due to my wife's job not taking enough out. They got hit by the feds for all kinds of tax violations last year.

We're looking to get a little over 5k this year. That return is much needed! Our net worth has been stagnate for the past year and a half or so. Hm, I think that's most of the more important financial info for now. I'll have to calculate our current net worth soon, but I'm afraid to do it. Adios for now.