The October Assessment

I’m very disappointed in my results for October. My spending was beyond what I was hoping it would be and it included an outing to check out a possible venue for the wedding out of town. Needless to say when everything was tallied up the results were negative rather than positive. The credit card debt actually went up about $200. But with the smoking being removed and the very serious desire to cut down costs November will be the month of the restart.

The one thing that I was quite happy with is that not only did I put $150 into my mutual funds and RSP but I set aside $325. So when you take everything into account I was only off by about $25 which in the end isn’t a huge deal but I used my credit cards and wasn’t careful about my spending. I could have done a lot better. So here’s the breakdown:

October Goals

  • Get my credit card debt below $8,500 (currently at $9,093)
  • Deposit $150 into my Mutual Funds
  • Finish the quarterly goal
  • No credit card usage (and if used then the amount has to be paid promptly)
  • Find out what is happening with my Pension money
  • Find out what the status of my existing shares is, ensure I have control over the account.

October Results

  • Credit Card balance is at $9338 (up $244)
  • Deposited $325 into my Mutual Funds
  • No Quarterly goal
  • Used the credit cards
  • Still sitting on the Pension info
  • Found the status of my shares.

Overall some good and some bad but the bad outweighed the good. But one thing that I did accomplish is that I finally set out a proper net worth (as of yesterday some money went into the mutual funds today).

Assets
Mutual Funds $1,684.84
RSP $289.85
Stocks $609.44
Car(approx value) $9,000
Boat(approx value) $3,500
Pension Fund $35,000
Total Assets: $50,084.13
Liabilities
Credit Card #1 $4,832.13
Credit Card #2 $4,632.04
Line of Credit $14,847.01
Car Loan $14,794.46
Total Liabilities $39,104.64
Net Worth $10,979.49

I guess the good thing is that my net worth is actually a positive number! But I’m still spending way too much money. I think I’m going to need to be more aggressive with my cut backs and track it a bit better. November Goals to follow tomorrow.

4 thoughts on “The October Assessment”

  1. You’ll get there! Keep writing about it…that way your goals are fresh in your mind and you’ll start to see those expenses go down!!!

  2. Keep at it! Keep plugging away at the debt and make sure you try and consolidate it to a reasonable interest rate if you haven’t already! It will feel so good when it is paid off!

  3. Thanks! I intend to keep at it; I’ve been trying to consolidate on a lower interest rate but I wasn’t able to get the right limit increase so it’s going to have to be done in increments. But dropping from 18.5 to 11.5 on $1800 is a start.

    And I’ll definitely keep writing about it and remembering it when I spend money.

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