Net Worth Update: October

I updated my financial records for the month of October. It was a huge disappointment. In total $3,072 was shaved off of my net worth. This comes out to almost 10% of my total! Ouch!

Most of the problems were contained in my retirement accounts. My Roth IRA and 401(k) completely tanked for the month. I made a big change on the debt front as well. I refinanced my debt. All of the plastic debt was consolidated into one loan with a fixed interest rate. I wanted to get away from the risk of rolling over balances every 6-12 months to keep them at 0% interest (which was starting to get hard in this tight credit market). Instead, I have a fixed payment schedule that will have my debt completely gone in a few years. I now can cut up the cards! Actually, I've frozen all but one in a block of ice in my freezer. The single card I kept is for buying gas, plane tickets, and hotel rooms when I travel.

For all of the details, check out the chart in my right sidebar and click-thru over the NetworthIQ where I track my money.

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