Net Worth and Goals: June 2010 – Down -1.8%

Each month I provide an update on how we’re tracking toward our goals. I break it down between Net Worth and Goals for the year.

Net Worth:

Another down month thanks to the market. I am curious to see if we’re just experiencing a pull back or if we are entering a bear market. However, I’m not that concerned either way as all of our investments are long-term and won’t be accessed for 15-20 years. So we’ll just keep funding our accounts, paying down debt, building our Emergency Fund and saving for Baby Frugal’s college education.

Aside from the markets effect on our retirement account, it was a pretty flat month. Every June we have a few large expenses that eat into any extra funds that would have gone towards our Emergency Fund.

I’ve decided to take a break from trading. With a newborn I can’t devote the time and energy required to trade prudently. So I’m taking a break, at least until Baby Frugal is sleeping through the night…when oh when will that be? In the meantime I’ve decided to move my trading capital into our Emergency Fund. It’s a better use of the funds right now and brings us much closer to reaching our goal of 8 months expenses. Once that is reached we will redirect all extra $$$ to paying off our consumer loan debt. I’m more committed than ever to paying that off next year.

Here’s the breakdown:

Emergency Fund: +2950.06 (Without trading funds this would be -$50)

Brokerage Accounts: -3556.83 (Without trading funds transfer to Emergency Fund this would be -556.83)

401K: -2162.64

College 529 Savings: no change

Boat loan: -193.69

Note: Although I include our vehicles and boat in our net worth, I don’t reassess their value each month. I value them conservatively using Kelley Blue Book and update once or twice a year.

For a more detail you can check out our Net Worth report here.

2010 Goals:

Emergency Fund Set aside 8 months living expenses in Emergency Fund ($25K)

Update: 6.6 months saved

Pay down debt Add $130 to boat payment. This alone will shave 5.5 years off the loan and save nearly $12,000 dollars in interest.

Completed! Can’t wait to meet our Emergency Fund goal so we can REALLY start paying this down!

College Savings Fund We’ve decided to go with a 529 Plan, but I haven’t settled on which state’s plan yet. Now that we have a social security number for Baby Frugal we can move forward with selecting the plan and setting up the account.

UPDATE: I’ve been seriously slacking on getting his account set up. But I guess my procrastination has worked in our favor since the market has been down.

Personal Finance blog

Revised Goals (As of April 2010)

• Post 4-5 times a week
• Break 100K in Alexa by the end of the year – I will need to move an average of 520 places a day to achieve this.
• Average 10K visitors per month – I think this is achievable but requires that I more than triple my readership.
• Increase my Google page rank to 3

When I joined the Yakezie Challenge on March 10, 2010:

• My Alexa ranking was 3,989,292
• I was not listed on the Wisebread 100+
• I only received a handful of visitors each day
• My Google page rank was 0

June 2010:

• My Alexa ranking is 130,850 – I’ve moved up 3,858,442 places!
• I am # 107 on the Wisebread 100+
• As of this week I am averaging between 70-100 visitors a day
• My Google page rank is 1

Update: I’ve been pretty inactive in the past 6 weeks and my stats have suffered. I have some work to do!

Today:

• My Alexa ranking is 152,747
• I am # 118 on the Wisebread 100+
• As of this week I am averaging between 60 – 80 visitors a day
• My Google page rank is 1

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