Friday, November 2, 2007

Net Worth Update October

First things first. I am now engaged. I asked my fiance over the weekend on October 27th and of course she said yes. Now we have the daunting task of planning and paying for a wedding. For someone interested in personal finance and wanting to grow his net worth, this kind of sucks. Don't get my wrong. I am estatic to be getting married to the woman of my dreams. She is so wonderful and I have never loved anyone like I love her. But the idea of shelling out a ton of dough for a wedding is scary. But I know we are both financially responsible people and we will do what is right. The wedding will be great and we'll keep moving forward in our finances.

So, for the month of October, I was able to increase my net worth by 16.27% or $522. I'm pretty pleased with this jump. This is just about double my increase last month and every time there is an increase I will be happy. This month I have focused on paying off credit cards and other debt. I have made it a new dream in life to be debt free and want to pay off all my credit card debt as quick as possible. This could be troublesome however in the near future due to trying to pay for a wedding. The fiance and I have decided to open a joint account and save all available money for the wedding. Hopefully I will still be able to decrease debt a little just not as fast as I would like. My assets should also still grow nicely from my 401k. Cash should stay idle for awhile.

The upcoming month of November will involve me keeping track of every cent that enters and exits my life. I want to see the net of these numbers be positive. Of course, with Christmas coming up, growing the net worth could be a daunting task. I have saved up for Christmas though so I have that money available. The fiance and I have already talked about not spending too much on each other. Everything is going to work out and I have a goal of a net worth close to $5,000 by the end of the year. Lets see what happens!