Path to Financial Freedom

Net Worth Update

2006-11-16T19:51:00.000-08:00

I originally thought I would leave posts and get some feedback, but until I start getting feedback I am going to leave posts as a check for myself. My financial journal if you will. I did my second net worth calculations. In one month I have increased by 600 dollars. I am disappointed with the amount so I looked over my accounts. I feel that I have too much tied up in real estate. I own property in Texas and have put it on the market. I will take a hit on my net worth when the sale goes through, but I feel that I can do much better with an extra 550 a month going into savings. Especially since I am cash poor right now. The sale will provide my 3 month safety net as well as a little extra cash.

2006-10-27T18:14:00.000-07:00

It looks like I will be getting a promotion at work. I have not found out what size of raise it will be. The company is currently doing interviews to fill my current position. I have only been with the company for 8 months so I am pretty happy with a promotion and I guess I can't really complain when I found out about the raise. The financial plan is to funnel all of the extra cash into savings since I am cash poor right now. The belief is that I am comfortable with my current spending and lifestyle. It would not be a hardship to keep at the current level.

Reading

2006-10-18T07:46:00.000-07:00

A list of the current books I am reading: Excel 2003 Bible Access 2003 Bible and I am trying to use Quicken for the first time. I will update on how the reading went.

Extra money

2006-10-15T17:08:00.000-07:00

Today I broke down my expenses and my income and my goal for my savings account is going to be impossible at the current rate. I am going to have to either cut down on expenses or I am going to have to increase my income. After looking through my expenses, most of the money is going to mortgages and retirement plans, and at the minimum I want to keep these where they are. I do not think I spend much money on unnecessary items, and I do not want to force myself to go without everything to make my goals. So then I started looking at other ways to increase my income. I have moved into a new home in the last two months and I am finding that I have too much room. So I am going to go forward on finding a roommate. If you have any ideas on the best way to find a compatible roommate without knowing anybody in the area please leave any ideas.

Goals

2006-10-14T15:36:00.000-07:00

After reading other blogs I noticed that everyone has goals 20 years from now. Right now I have a goal for one year out. In one year I want to have 10,000 in a safety account and I want to increase my retirement account to 40,000. I will update when I get a better grasp of a long term goal.