Holy crap! Wait till you guys see these numbers! I’m too excited to even write a proper introduction! Here goes:
Change: $440 or +1.28 %
Ok, so, perhaps the graph itself is not that impressive. A gain, yes, but only a little one in the scheme of things. But it’s the numbers behind the graph that bare the shock and awe:
Credit Card Debt: 0
The very last of my credit card debt bit the dust in August. Gone. Done. The end.
Cash: +$502
Not only is cash up by $502, but all of that is savings! Most of it went toward my textbook fund, but I managed to meet my savings minimums for my student loan interest, getting established fund, car fund, emergency fund and…
Retirement Fund: $16
It’s just a little baby now, but I have a retirement fund! For now, it’s just money sitting in a separate savings account. Once there’s $3,000 in there, though, I’ll use it to buy into a Vanguard index fund. Oh how sweet it is to be saving!
I’ll revisit my thoughts on this in a couple of days – including an update on how my “savings snowball” is going. For a look at my assets and liabilities, check out my NetworthIQ for August. For an explanation of the categories I use, check out the bottom of my entry about February’s net worth balance.
Related posts:
15 responses to “Net Worth Update: August 2008” 
Congratulations on the progress! You’re clearly heading the right direction.
Izzy Video’s last blog post..Izzy Video 98 – The Voice Processor
Congratulations on getting rid of the credit card debt!
Congratulations, you’ve done it. How does it feel to see that drop in the line. Good graph! Maybe you should make graph’s on all your purchases that you pay on time such as home, car, TV, furniture. Evidently you enjoy watching them come down as you pay them down. It might keep you motivated. Good Luck now and in the Future.
Any increase is a good thing!
Congrats!
Thanks guys!
@annakat – Thanks for the suggestion, but for now, I don’t have anything left to pay off, except student loans! Which I’m not making payments on yet, because I’m still in school.
hi there- i just came across your blog. and it’s very motivating. are you attending RIT by any chance? i saw your “things to do in rochester” and your mentioning of being a film student, so i was just wondering. i graduated 2 years ago [from rit] with an art degree and a graduate degree- i’m barely able to make my loan payments, so i’ve racked up an insane credit card balance paying for things like groceries and car repairs. last week though, i cut up all of my credit cards. my total balance is frightening, but i feel much better knowing i simply cannot add to it anymore. your blog will serve as even more motivation for me to get my financials in place. long comment, i know, sorry! thanks for writing!
@katie: You’re spot on – I’m a RITter! Actually, the REPORTER did a story about me and this site at the beginning of last year – kinda bizarre, and I had no idea they were going to make it the cover story when they interviewed me! There are little things about RIT littered throughout this blog – kind of like an easter egg hunt for people in the know!
Congratulations on the progress. It is good to see people overcoming debt and making progress toward the financial life even during their college years. Thanks for putting this out there.
nice article! i was on the cover of the reporter once. spring 07, i think. there were weird little illustrations coming out of my head. i miss the reporter, and i miss RIT from time to time, too! thanks again for writing this blog. it’s helped me get my post-graduate financial life in order
[...] net worth update here and here – I love to see how people are [...]
[...] August 2008 Net Worth Update at Poorer Than You [...]
Hey! Way to go! At least your numbers are going up … I just signed up for the networth calculator thing and my numbers are depressing. Hopefully someday I can have numbers that are positive … like you.
Also, congrats on paying off all your credit card debt!!
Congrads on getting rid of the CC debt. That is a burden to get out of the way and now you can concentrate on other matters, as well as should have less stress now. Now that you reached a goal, are you going to reward yourself at all?
Craig
http://www.budgetpulse.com
Congrats on getting rid of all the credit card debt. You are now in a small majority of the population, feel proud about what you have accomplished..
Congratulations on getting rid of your credit card debt as well as managing your savings.