Friday, February 23, 2007

Positive net worth!

I updated my NetWorthIQ page a day or two ago and it looks like I finally have a positive net worth! Click here to see my NetWorthIQ profile.

OK, so it's only $367 above zero, but it's a start! (Although I am currently only including my retirement contributions, not the actual value of the account, so if I used actual value it'd be about $2000 more.)

I have some pretty audacious savings goals for this year. I'm already trying to max out my retirement savings and I want to get up to a $10,000 emergency fund (right now at $4000 and change) as well as save up the money to pay off my 0% balance transfer when it comes due in December (I'll need about $4600, have about $2700 right now) so I've still got some work to do. I have some other goals to meet if I can do those, but those are the first priority.

I'm really not worried about paying off my student loan though - it's fixed at 3.9% and I'm getting 4.5% at ING, so it makes more sense to save right now than pay down the debt.

9 comments:

Him said...

Congrats! We're still from from $0, but we can't wait.

pfstock said...

I've been following your blog for a while, and I noticed yesterday that your net worth was no longer negative. Congratulations on your progress!

D said...

Good for you! Watch those numbers increase like crazy now.

Anonymous said...

Is your student loan a government(ex. Stafford) loan? If so, it needs to be paid off ASAP(before retirement savings, luxeries, ...) because the taxpayers of the USA are subsidizing that loan. Also allows more money for the next college student. Thanks.

Quang said...

Congrats! I see you are well on your way to financial freedom =]

Tim said...

congrats Kira...i'd move the money to a different higher yield account. There are some out there with bonuses like bank of america has a $50 bonus (promo code CS2J) with no maint fees and no minimums, plus they have a higher e-savings rate than ING. if you wan the $100 bonus for bank of america, you have to min initial deposit of $1500 combines (savings and checking), and maint that min to avoid maint. fees.

HC said...

That's fantastic! Like Him, I'm very far away from that, but it will be a joyful day when it comes.

Also, ignore Anonymous: Subsidized Stafford loans only cover the interest while you're still in school. Since you're in the work force, you're paying both interest and principal.

As long as you are paying the loan back on your set schedule, you are fufilling your obligation to the US. Educational assistance is called a "public good" for a reason.

Kira said...

Oh I know.. unsolicited advice is great ;) I am way out of school and I am definitely paying the interest.. most of mine were unsubsidized anyway. (Besides, I pay plenty of taxes as a single person with no deductions and self-employment income.. I am pretty much subsidizing myself.)

Tired of being broke said...

Congrats you are on a great track.
Anon needs to shut up. As long as the loans are not delinquent, that is what matters. Please Kira like you said you are pretty much subsidizing yourself. I feel the same way, not I see what my taxes look like.