Thursday, November 1, 2007

October update

Well, October is over. We've all gorged on Hallowe'en chocolate, and interest has now posted to all my accounts, so it's time for my month-end review.

First off, here's how I did with my October goals:
  • Grow my Emergency Fund to $975 - After interest posted to the account this morning, my Emergency Fund sat at $1,008.57. I had a $50 sign-up bonus from HSBC Direct that came through this month, so without that, I'm actually around $960. However, since I ended the month above my 2007 goal of $1,000, I'd say I met this goal.

  • Finish October with $75 in my "short-term savings" fund - The trip to Michigan drained our short-term savings, and I also hosted a bachelor party for my brother a couple of weeks ago. The combination of these two factors kept me from meeting this goal.

  • Reduce my revolving debt to $24,750 - My total month-end revolving debt is $24,891.93, so I fell a bit short of my goal. The same factors that kept me from my savings goal played a part here.

  • Blog once per week about productivity - How's this for a start:

    I think I actually pulled this one off. Actually, October saw my highest post count ever, at 24 posts for the month. Not bad...
So, for October, I met two out of my four goals. My Emergency Fund goal actually put me above my year-end goal, so that's encouraging. I now have my $1,000 Emergency Fund, and can redirect these contributions toward debt reduction.

Now, on to my month-end update:

Online Savings - $1,015.87
Self-Directed RSP - $41,605.84
Employer Group RSP - $1,212.95

Credit Cards - $1,527.73
Line of Credit - $23,364.20
Student Loans - $31,442.68

Net Investable Assets: ($12,499.95)
Net Liquid Assets: ($55,318.74)

My liquid savings dropped considerably, due to the vacation and bachelor party. However, the market continues to improve, so with my bi-weekly RSP contributions, I saw an overall asset increase of $1,403.06 this month. Debts are down by $890.01, so I had increases of $2,293.07 and $356.31 in my net investable and net liquid assets, respectively. My NetworthIQ profile has also been updated (including loose cash, home, car and mortgage).

Finally, let's get down some goals for October:
  • Grow my Emergency Fund to $1,100 (currently at $1,008.57; my contributions are slowing down, since I've met my goal for 2007, and am now focusing on debt reduction)

  • Finish November with $200 in my "short-term savings" fund (currently at $0)

  • Reduce my revolving debt to $23,850 (currently at $24,891.93)

  • Blog 30 times in November

  • Review two chapters of Getting Things Done

  • Continue to blog once per week about productivity
The financial goals have taken into account that November is a three-pay month. If I can meet these goals, I'll be happy.

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