October 2005 Net Worth Update

In the middle of the month, we took our first vacation together by travelling to Chicago for several days!  My fiance and I love to travel and we always wanted to make it a priority for us to take at least one or two big trips together each year.  From day one, we have always been saving and budgeting for a vacations.  This first vacation of ours turned out to be a great trip and a nice break from work too.  We did a lot of sightseeing, caught up with friends that live in the city, ate lots of Chicago-style pizza, and took some impromptu engagement photos together around the downtown area.

I may not have mentioned yet either, but we have also set a date for our wedding.  In June 2006 we will tie the knot!  As you can imagine, that has also taken up quite a bit of our time lately too — well maybe a little more of my fiance’s time than my own.  She loves that stuff.  Save-the-date cards have already been mailed, the church and reception hall booked, and family travel plans locked down.  It should a great event and something we both look forward to next Summer.

Onto our monthly Net Worth Update statement!  For the 5th straight month we have been able to record a monthly GAIN to our net worth. As of the end of October 2005, our net worth has increased by $2,360 to a new total of $55,014.  While not the sort of increase we have seen in previous months, it was still a great one because it was positive.  

FI Champion's Net Worth Update for October 2005

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

Noteworthy highlights for the October 2005 update:

  • Our vacation to Chicago meant a little higher expenses than usual during the month.  We stayed with a friend, so that cut down on lodging costs.  But we still had to eat — and that Chicago-style pizza isn’t cheap!  No complaining though, I enjoyed every bite!
  • We continue to take advantage of a 0% offer from our Sony Visa credit card.  This means we can make purchases and pay no interest each month, as long as we continue to make minimum monthly payments.  We have the money to pay the bill, but instead of sending it to the credit card company, I have been depositing it in our Vanguard Money Market account to earn interest.  It’s not much, but I’ll still take $200-300/year when its easy like this.  At any point we can make the full payment to the credit cards and wipe away the liability.
  • We ended up making two mortgage payments in the month, on 10/1 and 10/31.  The last payment is officially for November, even though we made it a little early.  I do not want to risk any payments getting missed or being late by accident, so I think I will continue to make our monthly payments a few days early moving forward.  As a result of the extra payment, the principal pay down on the loan was slightly higher than usual.
  • We finally made a payment on our student loans!  The consolidation process took some time — and during that time no payments were required.  But you can bet that interest continued to accumulate.  Just no late fees.  The wait was well worth it though, because the respective interest rates on my balance and my fiance’s is 2.625% and 2.875%.  Not bad, not bad at all.  Each month will have regular payments being made to our student loan companies.  We plan to make the minimum payment due to these low interest rates.

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