November 2005 Net Worth Update

This was a big transition month for us.  We recently finished up the cleaning (and part renovation) of one unit in our duplex — and then moved in!  That’s right, we now call our duplex home.  Half of it at least!  The other half we continue to rent out to the tenants we inherited when we purchased the property back in June.

And now that we’re actually living in the place we purchased…..our place…..I can say it feels good!  I know we have owned it for months now, but since we were not yet living here, it was a different feeling.  It still felt great, but now, the roof over our head is ours!  The floor underneath our feet is ours!  The backyard with grass and trees is ours!  It’s an exciting feeling to be homeowners and it finally feels official.

Moving onto our monthly Net Worth Update statement!  For the 6th straight month we have been able to record a monthly GAIN to our net worth. As of the end of November 2005, our net worth has increased by $2,858 to a new total of $57,872.  I’m extremely pleased that we have recorded 1/2 a year of increases now!  It feels like we have been making the right choices and the numbers continue to show that its paying off.  

FI Champion's Net Worth Update for November 2005

(View details and definitions for all line-items in our monthly Net Worth Updates)

Noteworthy highlights for the Net Worth 2005 update:

  • Regular contributions were made to our Roth IRA and my fiance’s 401k account.
  • The taxable brokerage accounts saw a big bump because we continue to put money into the Vanguard Money Market funds instead of immediately paying off the credit card bills.  The credit card we’re using has a 0% interest being charged to the balances.  We have the money to pay the bill, but we’re doing a little financial arbitrage to earn some interest on the side for now.  The flip-side is that our credit card balance has grown to over $13K owed now.  Yikes!  That just sounds like a big number.  But it feels good knowing the money is right there, ready to pay it off if we desire.
  • In October we end up making two mortgage payments in the month, on 10/1 and 10/31.  I meant to initiate a payment at the end of November as part of my plan to pay a few days early, moving forward.  But it looks like the transfer didn’t take in time.  I’m expecting the payment will now post on the 1st of December.  As a result, there was no decrease to our house #1 mortgage balance this month.
  • We finally made a payment on our general loan.  As I mention in our details and definitions page, this balance represents some loans from a family member that I took back in high school and in college.  The money was used to pay for my car and to invest in the stock market. I expect to continue these small payments each month.

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