August 2008 Networth
It looks like the financial markets settled down a bit this past month which was a nice change after two months of pretty significant decreases in our IRA’s. Also, this past month my work started a 401(k) matching program as well as a new high deductible health insurance plan which included an option of a health savings account (HSA). Here’s how everything shook out…
August Highlights
- It doesn’t show above (becuase I made the transfer at the end of the month and the money hadn’t cleared), but we completely funded our 3-6 month emergency fund at $22,500. That was a big goal we had been shooting for for quite sometime and we finally made it…Horray!
- We set up a new savings account and started our next goal to save another $21,500 for a down payment on our first home. We are hoping to be able to accomplish this within the next six months as we will now begin our search for our first home.
- With the beginning of our 401(k) it felt really good to finally get some free money. You’ve got to love the match. Rule #1 – Never pass up free money, it’s an immediate 100% return on your money. Although I am only getting a 25% match on the first 6% of my contribution, it’s free and I’ll take it.
- Our monthly credit card statement is still a bit higher than we’d like, but it’s because we put our $1000 moving truck charge on the card.
- With a 3.86% increase in our networth we are right on track to hit our annual goal of 25%.
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