May ’09 Update

Another month is in the books, this is my my May update for my net worth. I have had a few developments this past month. You will probably notice that while my total net worth increased so did my mortgage balance. We refinanced our 1st mortgage and rolled some of the closing fees up into the loan. I don’t advocate doing that but we decided to keep our savings up and roll it into the loan. We got a great rate at 4.5% and shaved 7 years off of our loan for basically the same monthly payment, so I am ok with the increase in the mortgage. In honor of my recent refinance I will be running a series on Mortgages for the rest of the week, so stay tuned.

Along with this update I have also updated the Wealthy Blogger List, so be sure to stop by and see where you compare to your favorite bloggers.

Assets


Cash Savings $13,504.00 +$2439.00
Roth IRA $2,682.00 +$367.00
401k $34,300.00 +$3,731.00
Home Value $239,900.00 0
$290,386.00
Liabilities


Credit Cards $0.00 -$576.00
Mortgage/Second $231,506.00 +$2910
Student Loans $9,716.00 -$136.00
$241,222.00

Net Worth $49,164.00 +4,338.00

Cash Savings
Our cash rests in two separate online savings accounts, one of the accounts is for our child. I switched my OnBank account over to ING as a result of plummeting interest rates OnBank is currently at .75% APY, INGDirect has dropped to 1.5% APY. We also maintain a savings account with a local bank which has around 1500 in real emergency money.

Retirement Accounts
These numbers used to be higher but I took a hit in the recent market collapse, I am excited to see positive movement again in my 401k, it has been awhile.

{ 1 comment… read it below or add one }

1 MoneyEnergy May 4, 2009 at 1:57 pm

Hey, nice to see such a low student loan number! I owe about $25,000 on student loans. My networth is in the negative because of this, but I prefer to focus on cashflow – the networth will take care of itself eventually! Thanks for this update – great idea with the list of networths, too!

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