May 2007 Financial Update May 3
The market has been really good of late. The Dow has been hitting records. These gains have really helped my portfolio. My total net worth has increased $35,000 since the beginning of the year. My liabilities have decreased by $1200, and my assets have increased by $33,800. My liabilities are not decreasing as much as I like, but the asset increase is very nice. My goal is to increase my net worth by $70,000 by the end of the year. I hope the market continues its gains. I can at minimum maintain my savings rate. I do have a bonus coming around August. My goal is save most of this. I hope I hit my year-end goal. I am planning on doing another App O’Rama when my current 0% rate expires that I have on two of my credit cards. I am going to try to apply for at least ten. This should also help me reach my goal. It would be nice to exceed it.
One thing I definitely need to do is figure out what my minimum monthly living expenses are. That way I can figure out how much my emergency cash fund should be. I want to have a full six months worth of expenses. I keep this in a money market mutual fund at Fidelity. I may have too much in it now. I can move the excess into one of my equity funds.