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Net Worth Update: May 2009

The other day, I had a fight with a vine of poison ivy and lost. So now I’ve got an awful rash on the wrist of my dominant hand. Fun, huh? So I’ll be keeping this short, as well as trying to round up some awesome guest posts for you guys to read while I’m indisposed. Because right now, I only can type for about 10 minutes at a time. (If you’re interested in writing a post for Poorer Than You this week, contact me.)

Thankfully, my money is doing better than my skin right now. Let’s check it out:

Change: $351 or 0.93 %

Oh, I am so happy to keep seeing this line go up each month! It makes me so happy, I’m using it as a secondary itch remedy: look at my graph, no more itching for a minute! Yay! Changes of note:

Savings Accounts: I added three new savings accounts to reflect my current goals. I discussed two of those new accounts in my latest Savings Snowball update, and the third is for paying my student loans. I also have still managed not to dip into my Getting Established Fund, which I’m quite proud of. The longer I can hold off on that, the more interest it will earn, and I can use it to better prop myself up.

Student Loans: The balance on these is growing, not shrinking, even though I’m making payments now. Why? Because only one of my three loans is in repayment right now, and one of the remaining two is earning interest in its grace period. I hope to be able to pay that interest off before the loan enters repayment in September, but it’s not a top priority. Some people may disagree, but I feel that I’m at a point in my life where having cash on hand is more important than worrying about early repayment of a loan with a 6.5% interest rate. For example, it would do me no good to pay off that interest, and then not have cash to make the monthly payments on the same loan.

That’s really it – bit of a slow month! It’s back to the bottle of calamine lotion for me….

6 responses to “Net Worth Update: May 2009”

  1. Slinky

    I agree with you on paying off the interest vs. savings. Until you’ve got a job where you know you’ll be able to pay that payment every month, it’s better to stock up as much cash as possible.

    P.S. I miss the black background, but otherwise love the revamp.

  2. Jerry

    It is frustrating that the balance is still going up with the student loans, but at least you are making payments! That’s a good place to be and it will lead to progress in the future. It’s nice to see the numbers going up, like you mentioned, because as we have all seen there is no insurance that they will go in that direction all the time!
    Jerry

  3. Joe

    Good job. Keep the line rising!

  4. Hiro

    Stephanie I absolutely love the name of this blog. It totally caught my attention lol.

    I was actually curious to see why your net worth dropped so much, and I thought it may be because of the financial crash. Turns out it wasn’t. Well for me, my net worth tanked quite a bit (over $20,000) due to the stock market haha.

    Anyway good luck.

  5. Deniel

    It is really very interesting and tiresome to handle all those debts and loans during this era of life. I never care about it in my past life though.

  6. Neo

    I agree with Slinky.
    Save as much as you can before you get a job