Monthly Update: November 2007(-$49,453.06, -$4,215.69)
After a steady start to the year, the market turbulence continues to make its presence felt.
Our balance sheet shows more outflows than inflows due to the renewal of family insurance policies and one time expenses related to the holiday season. This increase in spending made it difficult to offset out loses with savings alone.
Here is our Balance Sheet:
We continued our arbitage again last month with the addition of almost $20,000 in 0% balance transfers
Although the majority of these no longer cap the 3% balance transfer fee, there are cards out there that continue to limit these balance transfer fees at anywhere from $0 to $99. As long as these transfers continue to result in positive cash flow for our family, I will continue to take advantage of them.
The payoff of my private school loan represents a small victory for our family. The ability to remove a liability from our balance sheet and lock in a 8.27% return was a win/win for us. Although we depleted our cash reserves by almost a third by doing this, we still have enough cash on hand to cover any unexpected emergencies.
Now that we are well into December, I hope to spend some downtime over the holidays analyzing our results and formulating our plan for 2008
