Comments on: Net Worth – July: $164,387.81 (Woo Woo!)

By: J. Money

J. Money — Mon, 09 Aug 2010 19:25:34 +0000

@Stephan – Good question – and one I get asked every time I do this ;) To be totally honest, it’s purely a personality thing. I can easily pay off our credit card w/ what we have in savings, BUT I won’t really “learn my lesson” here. It would just be a quick couple of buttons to hit and I’d move on w/out much after thought. If, however, I leave the balance on there like I’m currently planning on doing, then I am forced to look my stupidness in the eye and resolve it by cutting back in other departments. So basically, I’m punishing myself for allowing this to grow (by getting the monthly $10 interest fees) but I’m also making myself find the money outside my current accounts. This way it sorta makes up for it :) Does that make sense? Mathematically it’s not very smart to do at all, but it works for me. I used to just hit my savings every time I went over and it became a monthly habit – not trying to do that again.
@the Dad, Climbing Out – We do what we can ;)
@momcents – Yeah, Zillow is pretty bad for actually tracking home values. But unfort. unless you get a direct appraisal (or someone in your neighborhood gets a contract or offer in hand) it’s pretty hard to come up with this number. You could always omit the house stuff from your net worth too, but I don’t find it paints an overall picture. Maybe adjust it ever 3 months instead?
@Greg – Nope, refer to my response to Stephan up above ;)
@Rob – Thx man! Had a blast in Seattle too – would move there in a heartbeat if all my friends & family lived there :) Fell in love with all the house boats too, whew.
@Trina – Yeah, I found it!!! http://twitpic.com/2c8x9y
@tiffany – No, but I actually NEED one! Maybe I’ll do that tonight and blog about it :)
@Steve at MakingAMillionDollars – Bought our home 3 years ago – at the very peak of the market, so yeah we’re def. underwater (at least $60k). As for credit cards – see my response above to Stephan. I normally do pay this off every month in full, but lately I’ve changed my ways to force myself to be better at it.

By: Steve at MakingAMillionDollars

Steve at MakingAMillionDollars — Sun, 08 Aug 2010 14:42:04 +0000

I was just curious on when you bought your home. I am seeing that it is a bit upside down, which I know most people are if you bought within the last 5 years. Also, do you pay your credit card balance off each month and what would your reasoning for not paying it off with your savings? Also have you thought about taking some of the savings and building a diversified portfolio of company stocks to get a better return? Really like you blog. Steve

By: tiffany

tiffany — Fri, 06 Aug 2010 16:01:20 +0000

Is there a certain number that you’re trying to reach with your cash savings?

By: Trina

Trina — Thu, 05 Aug 2010 21:35:12 +0000

It is in Pike’s Place Market…and it is ALWAYS busy! The weather has been gorgeous this week. Enjoy your visit;)
Trina

By: Rob

Rob — Thu, 05 Aug 2010 20:49:38 +0000

I love your blog. BTW, Seattle is an awesome city!

By: Greg

Greg — Thu, 05 Aug 2010 18:43:31 +0000

Your credit card balance = the increase. So I assume you’ll be paying the entire thing off this month?

By: momcents

momcents — Thu, 05 Aug 2010 17:09:45 +0000

Glad to see you’re doing so great for July! Unfortunately, my net worth dropped four grand this month. According to zillow, our house dropped $14k in value this month, ouch. I wish we had a more professional estimation of our house value, but for now zillow will have to do.

By: the Dad, Climbing Out

the Dad, Climbing Out — Thu, 05 Aug 2010 15:12:29 +0000

Holy crap! You’re an animal! That’s gotta feel great. Fabulous, guys!

By: Stephan

Stephan — Thu, 05 Aug 2010 14:50:46 +0000

Nice job, good to see that even in these tough times you are doing well! but i dont understand your credit card reasoning. your not paying it off this month because you dont want to cut into your other plans? wont continous credit card debt put a brake on your plans? just wondering! keep up the blog, great read everytime