May Net Worth Update – Up $2,283

May ended up being a great month for our net worth. We had some help, though, with our economic stimulus payment. All of that ($1,500) went straight towards our debt ;)

I’ll probably be posting our May spending this weekend and we’ll review more things that enabled us to increase our net worth last month. I can tell you right now that our income was a big help. It was higher than normal again in May.

To see our complete net worth, you can always check out our NetWorthIQ.com profile.

This month will probably be a little interesting. I believe there will be an increase in our net worth but not as much as the last two months because our income will be more “normal.” The plan for June is to continue beefing up our savings account balance. Our debt reduction will stall for a little bit, but that’s okay. We’re still on track for meeting our debt-payoff goal date (May of 2009).

Speaking of goals, back at the end of 2007 I listed a few an update a little while ago. As of today, we have paid off $8,100! Woohoo! We are way ahead of schedule :)

Posted by Tricia on June 4, 2008 at 10:05 PM in Net Worth | 6 Comments »
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  1. Matt responded:
    Posted: June 5th, 2008 at 6:02 am

    Amazing results Tricia! Seeing your results has always been an inspiration for me… keep up the amazing results.

  2. Jim ~ mydebtblog.com responded:
    Posted: June 5th, 2008 at 2:59 pm

    It’s amazing what one can accomplish in a year. Sometimes looking at the number that represents debt, it can just be a daunting task. So breaking it down and setting smaller goals to reduce it by an amount or a percentage keeps the motivation up. I think the drive to keep going and not give up is necessary to reach a goal.

  3. brainy responded:
    Posted: June 6th, 2008 at 6:49 pm

    Nice! Wow — that must’ve felt great to knock $1800+ off of the credit card balances in just one month!

    Stimulus check behind much of it or not, it’s still a huge drop! Keep it up! :0)

  4. ReddH responded:
    Posted: June 6th, 2008 at 8:49 pm

    Thanks so much for posting something about NetworthIQ. I joined it and I really like it! Congratulations on your awesome results!

  5. Mark @ TheLocoMono responded:
    Posted: June 6th, 2008 at 9:05 pm

    Keep up the good work, it has been a while since I have visited your site. The IQ certainly shows your progress, I am impressed.

  6. EJ responded:
    Posted: June 8th, 2008 at 7:25 am

    Hi there,

    Your link to “an update” leads to a 404 error page.

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My Debt

  • Original Debt: $38,495.86
  • Added Debt: $1,781.50
  • Total Debt: $40,277.36
  • Paid: $36,084.36
  • Remaining: $4,193.00
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