QuestForAMillion.net

Here is our net worth calculation for July. We actually made money on college and retirement accounts while losing a little in the  investment account. All-in-all it wasn’t too bad of a month in the market. However, our credit accounts increased dramatically, giving us a net worth decrease for the month. Most of this can be attributed to paying for my nose surgery due next week. We also changed our statement closing day to the 1st of the month on our rewards card which caused us not to end a statement cycle during July. Cash increased nicely but it will all be used to payoff the rewards card in August.We had a net worth decrease of $1987.49 or about 2% for the month. I think this puts our year-end net worth goal pretty much out of reach. However, I have no intention of stopping our investments, retirement savings or college savings. In fact, I’m hoping to increase our investment activity later this year when the 0% credit card is paid off.

Notes:

1. The credit accounts now consist of a HELOC, the rewards card that most of our monthly spending goes on (which we pay in full every month), and two 0% credit cards - both to be paid off in January 2009, if not sooner.

Goals

Nothing has changed: continue building up cash and savings up with an eye on paying off the 0% credit cards before the end of the year.