Net Worth December 2012

Happy New Year!

We have been at this blog for nearly 2 1/2 years.  Here is the chart of the progress made at this point. Net worth details below.

Just the facts:

Assets are up to $91,127.43 from $89,384.76 and debts down to $43,366.52 from $46,514.06 for a new net worth of $47,812.61 up $4,941.91 from $42,870.70.

All in all I am still paying down debts at a good clip and still saving at a good rate as well.

Assets are composed of: $58,289.37 in investment/retirement accounts and $32,838.06 in cash.

Debts are $43,366.52 in student debt. Other liabilities include $295.81 in credit card debt that is paid off in full each month.

Thanks for reading.

-educated debt

Net Worth November 2012

Time for a much needed update. Things have been busy and I have been slacking.

Just the facts:

Assets are up to $89,384.76  from $82,605.57 and debts down to $46,514.06 from $50,772.66 for a new net worth of $42,870.70 up $11,037.79 from $31,832.91.

All in all I am still paying down debts at a good clip and still saving at a good rate as well.

Assets are composed of: $55,955.65 in investment/retirement accounts and $33,429.11 in cash.

Debts are 95% student debt and 5% credit card debt that is paid off in full each month.

Thanks for reading.

-educated debt

Net Worth July 2012

Hey there readers. I started this blog two years ago and at that point my net worth was negative ($37,638.24) we are now positive $31,832.91.  This means the dial has been moved to the tune of nearly $70,000 ($69,471.11 if we're counting pennies) in the worst recession in decades. Hopefully the pattern of asset growth and debt destruction will continue. 


In the past month I was more aggressive then normal to pay off another private student loan. Assets are continuing to increase do to cash savings and the non-collapse of the equity and debt markets...yet. 


Assets are up to $82,605.57 from $79,700.53 and debts down to $50,772.66 from $53,540.76 for a new net worth of $31,832.91 up $5673.15 from $26,159.76.


Thanks for reading. Charts below.


- Educated Debt

Assets are up around 3k.

Debts are down also around 3k.

Net Worth March to June 2012

Been quite busy, thus the miss of a couple net worth posts. I am still moving in the right direction.
Assets are up to $79,700.53 and debts down to $53,540.76 for a net worth of $26,159.76

DEBTS

TYPE	DEBTS
Total	$53,540.76
Loan	$52,545.30
Credit	$995.46

ASSETS

TYPE	ASSETS
Total	$79,700.53
Investment	$48,275.05
Bank	$31,425.48

Why I love Award Wallet (awardwallet.com)

Award Wallet is a free loyalty points aggregation site. There is also a paid version that will show you expiration information for example. I do not have a loyalty program that award wallet does not support. This includes credit card to supermarkets and car rentals to hotels and airlines. Just like pageonce or mint are the solutions for banking award wallet is the premier solution for rewards programs.

There have been countless times that I have been checking in to a hotel or was rushed checking into a flight and forgot my membership number. The iPhone app resolves all of these issues. All your numbers are stored on your phone in the award wallet app. 

Beyond just tracking your balances awardwallet.com also will track your travel plans that are assoicated with your rewards account. This can be invaluable when a plane is diverted or delayed. Award wallet will send you a notification informaing you of the issue.

In short, this is a go to application for myself and I cannot recommend it highly enough.

Sign up and use the promo code free-xprqad for a free premium membership. Only ten available. 

-Educated debt

MARCH 2012 | Updated Net Worth

Updated Net Worth.


This has been a pretty good month. Assets increased $3,608.02 (80.2k from 76.6k) and during the same period debts/liabilities dropped $2,278.02 (59.5k to 57.2k).


My net worth now stands at $22,948.61 up from $17,054.25 in February. This is due to cash savings, payment of student loans, and the return in the stock market of my brokerage and retirement savings accounts.


Planning to keep moving forward slow and steady. I do have some large expenses that are upcoming that will drop me back in April, but outside of purchasing a new home the trends ought to continue.

The Best Rewards Card on the Market - Fidelity AMEX 2%

My favorite card by far is the American Express Fidelity Card. The card is administered by FIA Card Services which is owned by Bank Of America. The card gives you 2% back on all purchases. In many instances the card will offer rolling 5% on certain categories. The most recent that I received was 5% on all restaurants. If, and only if, you are able to manage your account so that it is paid off each month this is the best deal in town. Considering CD's are sub 1% this card is amazing. AMEX is always going to be able to offer better rewards because it has one distinct competitive advantage. They own their own network. So where Citi or Capital One is forced to pay Visa or MasterCard a transaction fee AMEX does not. They can make a card like this profitable on transaction costs alone.

I use this card for recurring services such as cell phone, cable, netflix (at least until I cancelled), and so on... Additionally, f you use this for general expenses it is easy to charge 1k per cycle. This equates to $20 per statement or $240 dollars a year. I'll take $240 a year for doing nothing out of the ordinary any day. Last year I received north of $600 into my Fidelity IRA by making this my primary card. Opening a Fidelity IRA is very easy and they allow about 25 transaction free ETF's via BlackRock's (previously BGI's) iShare brand. This means there are ETFs to purchase fee free for as little as 30 dollars.

If you can pay off the balance each month this is a true win win all around. Card Summary below More details here:


You have the choice of sweeping your rewards into your investment account, IRA or 529 college savings plan. And there's no annual fee.


Credit Rating Required
•Good to excellent (700+).

About the Fidelity Rewards American Express Card

Pros
•Generous cash-back rewards that go into your investment account or 529 account. However, if you are just looking for cash you can link this to a Roth IRA. All dollars can be withdrawn from a Roth IRA if they are not dollars that have been earned from an investment return.

•No limit on rewards earned.
•Points can also be redeemed for cash, travel, gift cards and merchandise.

Cons
•Must have excellent credit to quality. (700+)


Rewards
•Two points per dollar on all purchases.

APRs
•13.99% on purchases.

•0% for first seven months on balance transfers, then the purchase rate.

•Penalty APR: none.

Fees
•No annual fee.

•Balance transfer fee: 4% of amount.

•Late payment fee: Up to $35.

•Returned payment fee: Up to $25.

FEB 2012 | Updated Net Worth

Updated Net Worth.

I am net worth positive! To the tune of 17,054 US Dollars to be exact. Pretty sweet. Total debt is now 59k and total assets are 76k. I will continue to payoff student loans aggressively and continue to save cash and contribute to retirement accounts.