Since I don't want to give Broken Arrow too much of a big head, I will try to remember to title my entries related to my "Journey to Balance Sheet Affluent" something other than "Journey to BA" 
Well, even tho' I revised my goal upwards by quite a bit, we still managed to exceed our 1st quarter goal quite handily. Our current estimated* Net Worth is 1.51 times our expected net worth according to the "Balance Sheet Affluent" formula [Age x .112 x Total Realized Annual Income].
*I say estimated because the current balance in DH's business account is just a rough estimate. Just before he left on a business trip, I asked him, "How much do you have in your business account, minus what you owe, plus what people owe you" and he gave me a very round figure as he did not have the time to calculate it precisely. After he gets back and gets all caught up, I will be able to get a precise number from him. Also, DH took all of our foreign currency with him on his trip, so I entered that amount as "zero" even tho' I expect he will bring some back with him.
These are the things that helped us on the positive side this quarter:
- DH's business has been excellent [His busiest season falls in this quarter, and it has been a very good year]
- My little business had been pretty good too
- We got the money from our garage sale in May, plus additional funds have come in steadily from Half.com
- I made $20 on Pinecone surveys ... Hey every little bit counts, right?
I am one who believes in focusing on the big AND small things when it comes to personal finance
- Interest earnings: I have gotten our bank accounts (MMAs and CDs) narrowed down to a few banks that have consistently offered the best rates over time. I may not be getting the very best available rate at any given moment, but I'm also not seeing my rates suddenly drop or having lag time waiting for funds to get transferred from one institution to another.
- Mutual Fund Investments: Our choices are quite conservative, and the results for the quarter were fine.
Necessary but unusual expenses this quarter (and there are always going to be some unusual expenses, so we have to anticipate them) were:
- Car repair
- New tires for car
- Teeth cleaning for dog
Unnecessary but very nice "want" purchases this quarter were:
- New radio & speakers for car
- New driver for DH (to replace his old one which had cracked)
My "Journey to BA" goals for this 2nd quarter are primarily related to our relocation:
- Finish pre-relocation sell off
- Keep relocation expenses as low as possible (the less stuff to move the better; keep costs while on the road down)
- When chosing a rental in the Austin area, choose a cheap one!!! [It is so tempting to go for something nicer, but I must remember that it is only temporary housing and it makes no sense at all to spend a lot of money on a rental.]
Journey to BalAff - 1st Quarter Results & 2nd Quarter Goals
August 2nd, 2007 at 09:47 am