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Net Worth Report - End of 05/06
It was a bad month in the financial markets. The S&P 500 dropped 2.7%, which is also remarkably close to how my own investments performed (if I ignore my salary and appreciation of my home). This drop cost me about a month of time toward my personal goal.
The interesting news this month is that I've damaged my credit with so much credit card arbitrage that I was turned down on a new card I was going to transfer a balance to. So I had to pay off one of my cards. :(
Even more interesting, I got a telemarketing call from a company in the debt consolidation industry. I talked to them for a very long time and this call will be the basis for a longish and scathing article in the near future. I've already started writing it, but there's a lot more writing to do.
That's all the commentary I have for this month. Here are the standard tables and explanations, with one twist — I'm providing a two month view of my credit card arbitrage info so the change is more visible.
Recall that I'm defining "Adjusted Net Worth" as net worth excluding the value of autos and unvested stock. The "Estimated Contribution" is how much money I believe I'll need to invest in order to meet the following month's ANW target. A declining EC indicates that I'm ahead of plan, and an increasing EC indicates that I need to save more in order to reach my long-term goal.
My credit card balances are 100% backed by time deposits and/or savings accounts earning interest at a higher rate than I'm being charged by the credit card companies. The monthly payment is estimated as 2% of the balance. (Most credit cards are now using a 2% minimum payment, and due to this it is important to have a strong cash flow and/or pay with funds from your credit card arbitrage savings account.)
You can keep track of other personal finance bloggers at NetWorthIQ. I've updated my entry there.