As promised, here is my baseline net worth and all of my current debt/investments:
Debt:
Nelnet Student Loans: $14,700
Direct SVC Student Loans: $20,110
Sears Credit Card: $356
Radio Shack Credit Card: $645
Citibank Credit Card (interest waived payment plan): $3,500
Total: $39,311
Investments:
University DCP Savings Plan: 782.46
Sharebuilder Roth IRA: $1,115.63
Sharebuilder Taxable Account: $687.97
Total: $2586.06
Not a bad start, but you can see that I have a long ways to go!
3 comments:
Radio Shack makes a credit card? Hmm...
Before you start investing in stocks and bonds that usually and historically yield no more than a 10% return on your money over several decades, shouldn't you pay off those credit cards which charge interest rates up to and over 20%? That seems to make more sense in the long run. It's be similar to pluggin up the biggest hole in the ship first rather than the smallest. Make sense?
Actually I am on an interest-free payment plan with the citibank card, so that one is dwindling away just fine. Plus it is more important for me to get into the habit of saving/investing regularly. It may not be the most cost effective in the long run, but I'm happy to pay off debt and invest simultaneously.
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