Net Worth Update: July

I promise I haven't fallen off the face of the earth. I accidentally missed posting at all in the month of June. My excuse is that I was busy with work, school, and my "Honey Do List." Well, now I'm back and the good news is that I never stopped tracking my finances. I'm sure all (12?) of my regular readers are just itching to know how I've done.

The market has supercharged my returns and added about $3,500 to the assets side of the equation in the last two months. It has been pretty vindicating to know that I stuck with the dollar cost averaging plan and made money through the market pain. My IRA that I started in 2007 is now firmly in positive territory. The balance is about 5% above the total contributions. My 401(k) still has a paper loss for the shares I held before the drop, but the overall balance is well above where it was in November 2007 when the loses started. I know it may still be a bumpy ride, but it is nice to know that persistence pays off.

On the debt side of the ledger...
I've made very minimal progress by paying off a few hundred dollars. I'm being more and more tempted to drop my IRA investing to focus on the debt monster so I can properly slay it, but for now the tax free gains and low(er) price/earnings ratios are keeping me investing. The plan is to put any bonus, raise, or cost of living adjustment into a "Debt Snowball" to start making traction. A few months without a major run of bad luck would help too.

Speaking of bad luck, the last post dealt with the need for new tires. I bit that bullet and immediately the hydra spawned another head. The latest major unexpected expense was an emergency crown for my #18 molar. That was $900, ouch. On the plus side, I was able to fork over cash (for a 10% discount!) and take the money out of my emergency fund. That was half of what I had put away, but at least it was there when I needed it. Now it is a priority to build it back up.

For a quick run down on my financial happenings from the last two months you can look at my NetworthIQ page. Another month, another post and I'll catch you again soon.