Net Worth Disappointment March 2, 2008Posted by pf in Credit Card, Expenses and Savings, Net Worth Update.
Tags: credit card debt, net worth, networth iq, Retirement, savings
Over the next couple of months, I should get a healthy “shot in the arm” to my net worth as a result of tax refunds, work bonus, stimulus package, etc. This should be thrilling. However, as I write this, I am a bit disappointed.
However, my dissatisfaction comes not from these wonderful things, but rather from what seems to be an increasingly larger and larger credit card bill. The size of the credit card bill is not so much the issue (we run large credit card debt when we are doing arbitrage), but rather some of its content and frequency.
Granted, there are some extenuating circumstances where we had the holidays and some trips that were back-to-back in the last couple of months. I’m generally ok with this, but it feels like it’s having a bit of a “drag” effect and won’t quite go away. This, coupled with normal expenses such as groceries, extra-curricular activities for the kids, and the like are bumming me out. It “feels” a bit out of control (perception is reality, eh?).
So, now having done my net worth for February, I’m feeling a bit disjointed and disappointed. Looking at my updated chart for net worth below, we are just meandering sideways. Of course, a lot of that has to do with the performance of the stock market. However, I also know that our credit card purchases over the last several months are not helping any.
In the final analysis, I know things will turn around and we’ll get back on the growth track. I will just have to redouble my efforts to be vigilant about our spending and make sure that the “blip” is just that…and does not become a trend.