Sunday, March 30, 2008

Quarterly Net Worth--Surprisingly Up

I wasn't looking forward to calculating my quarterly net worth, but now that I have, I find that it's up $7497 and is a comfortable $591,595.

Of course, a considerable amount is equity tied up in my home and my rental. The rental dropped over $10,000 in value, and my 401(K), likewise, is down $10,000 from last quarter. But my residence has not only held its value but actually (according to Zillow) increased in value by another $34,000.

This makes me feel a lot better than when I look just at my monthly financial statements. My consumer debt is decreasing at a snail's pace. For the month of March, my total debt reduction is a mere $672.86 and my debt snowball is still frozen solidly in place.

Unfortunately, April is not looking more upbeat.

My intentions are good but life keeps intervening. Two major events are about to occur (about which, more, later) which will bring even more financial pressure.

Right now, my plan is to NOT acquire more debt, and to keep up at least the minimum reduction in debt while meeting life's demands out of my monthly pay.

Overall, this is a cash flow issue more than anything else. My finances should get better (in that there will be fewer demands on my paycheck), during the second half of the year. But it's the "meantime" that is a bummer.


lpkitten said...

don't let it get you down. sounds like you are taking an active role in your financial future and that is half the battle!

CT Mom said...

Hi Grace - found your blog via Sharon at Paid It Down and Moving Forward, and I just finished reading your archives. Chin up, girl - you're doing great! I'm 43, looking at retirement when my youngest graduates from college as well as trying to pay off debt so we can boost our savings. I commiserate with you on many levels - debts seem to go down so slowly while everything else goes up, and sometimes it feels like you're barely making a dent. But every month you're paying it down, and you'll get there eventually too.

BTW, I greatly admire your adopting 5 children on your own. I have 2 girls, 7 & 10, and some days I don't know if I'm going to make it. God bless you for giving those children the love they needed to make their own way in the world.

CT Mom said...

Hi Grace - you've been tagged! Come on over to my blog and check it out.

Maybe an incentive to post more?? Your blog is great ...

JW said...

Grace you are doing incredible compared to us and many others that we know. We are 43 yrs. and praying to be in your position one day. :)