April 2007 Income Statement

We went way over budget again. Darn it!To our credit, it was not because we spent frivolously. There were numerous one-time, annual, and prepayment expenditures that brought our total expenses for April to $7,581.50 (click on spreadsheet below).On the positive side, my wife netted an extra $1,147.24 in commissions, we had $127.55 in “other” income (see spreadsheet notes), and our interest income doubled to $11.08.May is forcasted to be a lighter month for us expense wise. If nothing unforseen Read more [...]

April 2007 Net Worth Update (+$3,145.07)

I didn't expect us to match our huge net worth increase in March, but we had a good net worth increase in April (click on the spreadsheet below). Our total net worth is now $6,438.50, well on our way to our 2007 goal of $22,000.Some highlights from April follow:The nice boost to our net worth this month came thru a $1,147.24 (after taxes) commission check that my wife earned. We deposited $630.00 into our Emigrant Direct savings account for Roth IRA funding (once we hit $3,000 will be moved into Read more [...]

Good Prospective Car Buyer

I have been trying to sell my car for awhile now in an effort to reduce our monthly expenses and increase our net worth. Currently, we pay $883 a month in car payments for our two vehicles.I spoke to a lady today who seems very interested. She called twice and sent me two emails within a 24 hour period. After a long discussion with her on the phone, we made a tentative plan to meet on Wednesday for her to see the car. She actually owned the same vehicle, but just totaled it in an accident. The good Read more [...]

What’s In Your Wallet?

I love Capital One’s "What’s in your wallet?" ad campaing; they’re consistantly funny. While I’m not going to sign up for their credit card just because I enjoy the commercials, they do ask a good question. So, here’s what’s in my wallet:Driver’s license – Of course.Picture of wife – Gotta have it.$10.00 bill – I prefer to pay using my cash back credit card, so I don’t carry much cash.Post-it note with Travelocity vocher code – Vocher code was given to me when Travelocity Read more [...]

RSS Feed

1MansMoney now has an RSS feed! I just learned about RSS feeds and love the convenience they provide. Inside of visiting your favorite blogs each day to see if there is new content, you can subscribe (for free) to your favorite blogs and visit one website to see updated content from all of them.To subscribe to 1MansMoney’s RSS feed, click on the icon in the upper right hand corner of this webpage. You will be prompted to choose a reader (I use Google Reader) and create a user id and password. Read more [...]

Real Emergency Fund

I think it’s great to have an emergency fund for unexpected events, such as sickness or job loss. However, if there were ever an emergency that took out the power for a long period of time, such as a major earthquake, it is likely that we would be unable to access our saving accounts or use our credit cards. My wife and I rarely have more than $20 in cash on us, because we try to charge most of our expenses to our cash back credit cards. This puts us in a tough position if we needed to buy water Read more [...]

Gotta Love Easy Money

I just received confirmation from HBSC that our $25 cash back redemption request has been received, and our check will arrive within 15 business days. Not a big sum of money, but the only thing I had to do to earn it was charge my business trip expenses to my HBSC rewards Mastercard (which my company immediately reimburses me for). My wife and I also have a Citi Dividend Platinum Select MasterCard that we use for most of our household expenses. The card is paid off monthly and earns us up to 5% cash Read more [...]

Financial Websites

I really enjoy searching the web for high quality financial websites that I can learn from. It's amazing how much information is available online. Below is a list of sites that I visit frequently.Early Retirement ForumFinding this site started it all for me2millionMy favorite personal finance blogMorningstarMore finance information that you can ever readBloomberg CalculatorsMany useful financial calculatorsVanguardOffers a wealth of resources and low expense Roth IRA choices Read more [...]

Why Don’t We Talk About Money?

Other than my family, I only have a couple of friends that I talk with about money. Even then, our conversations are usually limited to vague references, and not actual numbers. I can see pros and cons to keeping money matters private. ProsLess chance of jealousy if your financial situation is better than another person's Less possibility of embarrassment if your financial situation is worse off than another person's Less likelihood that someone will hit you up for a loan / try to steal from youConsLack Read more [...]

Net Worth Milestones

To achieve our net worth goal of $1.5M in 20 years, we need a plan. Below are our net worth goals for each year (click on spreadsheet to enlarge). This plan assumes an average annual return of 8%, and our ability to increase our investments as our careers develop.As you can see, if we are able to hit our targets, we are still almost $300K short of our $1.5M goal. I guess that’s why they call them "stretch" goals. Read more [...]

Our path to financial independence and retiring early.