Networth Update
I wrote this post on 8th of May and it took me so long to post it. Sorry about the delay.
Our assets decreased by $2155 and our debts decreased by $9389. We were anxious to pay back our parents and so we paid them back earlier than we planned with money from our savings. We still have about $2000 in our emergency savings. Our networth since the start of this blog has tripled. It sounds dramatic but this huge number is because we started pretty low. When I started this blog our networth was about $11,000 and now it stands at $48,000. In certain aspects we could have done better than this, still this blog has brought a change in me that is far more worthy than this networth increase is.
Our Asset Allocation
Our current asset allocation is
Domestic Stocks : 51%
Foreign Stocks : 14%
Cash : 21%
Bonds : 14%
It looks as though we could lower our cash and bond allocation and increase our foreign stocks allocation. Since both me and BB are in tech jobs, we want to keep our emergency fund large. And for the rest, we have changed our monthly investments in such a way that we would be contributing more towards international stocks and less towards bonds.
Few Updates
The loan to our parents has been paid off in full. We paid about $2000 extra considering the currency conversion rates and the timely help they provided us when we needed a downpayment. This gives us a full 10% ownership on our house. Starting this month we will start paying extra towards our second mortgage which has the highest rate of interest.
In the past 6 months we have paid back $30,000 in debt and increased our assets by $10,000. I don’t think it would have been possible without this blog. This blog has made me accountable to myself and all my readers.
On my job front, my current contract has a good chance of becoming a full time employee position in a couple of months. I received good reviews from my manager for my latest project. I am waiting for that day when I can start contributing to a 401k plan.
On the blog front, I seem to be writing less and less as each day goes by. All I really do is provide updates about our current situation. I don’t write much about personal finance in general. Sometimes It feels like I didn’t have much to contribute to start with. Work schedule is getting busier by the day and I even considered closing the blog. But the fighter in me tells me that my writing skill is going to improve soon and I would be able to contribute quality articles in this space.
