Debt to Dreams

Late again this month. It has become apparent to me that my 4th year of residency is going to require a much greater time commitment than my prior 3 years.

That being said, our finances continue to tick along. We have managed to make saving a significant portion of our income a habit and at this point are looking for easy ways to earn a few extra bucks each month.

Here is the Summary:

Things to note for September:

The most notable change is the dramatic increase in our cash and short term savings. Since the first 0% balance transfer was so easy we added another transfer in late August. These transfers have dramatically increased our short term savings on our balance sheet and helped us earn an extra $200 in interest for the month of August.

Also of note we were able to increase our net worth above the $-60,000 threshold for the first time. If we can maintain our current household income/household expenses ratio, it will take us another year and a half to 2 years to get back to $0 net worth.

We are expecting a very busy last quarter to 2007 for our household.

• Within the next 60 days I will have to start making payments on my private loan as well as repay my first 0% balance transfer of $3500.
• We are entering fall which is normally a period of high expenses for us with lots of holidays, birthdays and now an anniversary.
• I will have new changes to my health insurance, life insurance and disability insurance policies which will increase our expenses for next year.

And we are already almost half-way through September.

This entry was posted on Tuesday, September 11th, 2007 at 4:37 pm and is filed under Goals and Monthly Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.