Net Worth Report for December 2008

Nothing new here. I've been saving.

Net Worth Report for November 2008

Nothing new here. I've been saving.

Net Worth Report for October 2008

Received my credit refund check from Citi Cards, which explains the huge jump in my asset column. My rollover IRA is down. Surprise!

Net Worth Report for September 2008

I paid off the last of my student loans. I also did a "draw" (distribution of profits) from my business checking account in the amount of $8,000. My business also paid me $750 for the month's rent of the office space.

This month is also a milestone: my first experience with credit card arbitrage. I did three balance transfers:

1. $10,500 for $99 fee


2. $20,200 for $99 fee


3. $34,800 for $199 fee

That's a total of $65,500 at the small cost of $397. I'll be sticking that into my ING Direct checking account with an APY of 3.2%. I'll still be looking for a higher rate elsewhere.

I still haven't received my balance refund checks from CitiCard yet. (This is related to my credit card arbitrage.) This explains the huge drop in my net worth.

Net Worth Report for August 2008

I contributed $1,200 to my Zecco Rollover IRA brokerage account. I have contributed the maximum amount to that account for this year.

I spent $350 on bespoke wool trousers, $200 on a pair of white bucks (shoes), and $45 on a seersucker tie.

Net Worth Report for July 2008

Finally, I had my American Funds 401(k) rolled over to my Zecco Rollover IRA brokerage account. It took a long time because American Funds kept misspelling "Penson Financial Services" (Zecco). Also, I only received $6,048.64 of my $9,045.87 balance because I was not fully vested; I needed to be at my old job for at least six years to be 100% vested. I'm disappointed.

I sold my 56 shares of GRMN at $47.85 each in my Zecco Roth IRA. I'm up 10%. I also contributed another $2500, so I'm done contributing to this account for the year 2008.

Just a reminder, I only have one credit card, and it has a promo APR of 0.00%. So, I'm not losing money while I'm paying the minimum monthly payment. The promo APR ends on October 18, 2008. I have planned my monthly savings until then, so that I can pay off the entire balance before an APR of 9.99% starts. I've got it all worked out on a spreadsheet in Google Docs.

UPDATE: I just added the credit card that I use for my everyday purchases, which is a Chase Freedom card. I didn't include it in my net worth at first because I always pay the statement balance every month. Now, I have decided to have my net worth as accurate as possible. This explains the small increase in my liabilities.

Net Worth Report for June 2008

I opened a Roth IRA brokerage account at Zecco Trading with $2,500 starting balance. I bought GRMN, and lost money. At the end of the month, my Roth IRA balance was $2399.04. However, Yodlee had it at $4869.04 because Zecco still had my cash balance at $2470 after I had bought 56 shares at $43.50 each. (It went down from $2500 to $2470 after the $30 annual fee for a Roth IRA.)

My American Funds 401(k) was withdrawn due to the rollover process. The money has not been deposited to my Zecco Rollover account yet. (Yes, I have two Zecco accounts.) This explains the big drop in the asset column.

Net Worth Report for May 2008

I paid off the smaller of my two student loans with $5,455.18. I dumped $6,000 on the remaining larger one. These two transactions brought my cash down. (The $6,000 came straight from my business checking account as a distribution of profits. I have an S-Corp.)

Automatic Payments

When making automatic payments to bills, use your checking account, not your credit card. My mother used her credit card to make automatic payments, forgot about it, and forgot about the expiration date on her credit card. She racked up a lot of unnecessary fees because of her desire to automate and forget.

Thinking About Moving to Seattle

I'm thinking about moving to Seattle, Washington for the following reasons:
1. No income tax in Washington. In Illinois, it's 3%.
2. More Java jobs in Seattle than in Chicago according to Craig's List.
3. Slightly lower cost of living according to BankRate.com's Cost of Living Comparison Calculator. (http://bankrate.com/brm/movecalc.asp)

Chicago has Chicago Card Plus (http://chicago-card.com) that allows employers to pay for unlimited bus and train rides for $75 per month. Seattle has something similar at Metro Online (http://transit.metrokc.gov)

Seattle is pretty. Nice photos:
http://flickr.com/search/?q=Seattle

Seattle and rain:
"Despite being on the margin of the rain shadow of the Olympic Mountains, the city has a reputation for frequent rain. Despite its relatively frequent rainfall, the so-called "rainy city" receives a smaller quantity of actual precipitation annually, at 37.1 inches (94 cm), than New York City, Atlanta, Houston, and most cities of the Eastern Seaboard of the United States. Seattle was also not listed in a study that revealed the 10 Rainiest Cities in the continental United States. Seattle's reputation for rain derives from this frequency of precipitation as well as the fact that it is cloudy an average of 226 days per year (cf. 132 in New York City). Most of the precipitation falls as drizzle or light rain, with only occasional downpours. Spring, late fall, and winter are filled with days when it does not rain but looks as if it might because of cloudy, overcast skies." - Wikipedia (http://en.wikipedia.org/wiki/Seattle,_Washington)

Seattle, #2 Most Literate U.S. City:
http://www.livescience.com/health/071227-literate-cities.html

Seattle, #1 Most "Wired-less" City:
http://www.livescience.com/technology/ap_050607_wireless_cities.html