Compounding Rocks

My money continues to earn itself more money. I think I’ve officially reached that bubble zone where unless I make awful decisions or the stock market tanks, I can continue to make OK choices and my money will out earn small bad decisions.

Net Worth: $38,883

Nonsense to subtract

Nonsense to subtract should really be renamed: “Poor financial decisions that haunt my present and future self.” Or something else to that really hammers home that these debts weren’t exactly strategic decisions. They don’t serve a great purpose.

Our student loan debts are from both my husband and I not fully realizing the albatross that student loan debt would be. I don’t think either one of us regret our education or where we choose to go, but we probably could’ve scaled back our lifestyles a little bit during college. If we bought a few less coffees, a few less nice beers at bars, a few less snacks at convenience stores over all those years, we could’ve each shaved another 10k plus off the total debt we each took out.

My CC #1 debt is because I wanted a cash stockpile, so I’ve wracked up some day-to-day charges on a 0% interest card. It is almost a strategic play. Until you look at my savings – not my retirement accounts – but my cash on hand savings – and see it’s not growing. I’m treading water while I wrack up more and more credit card debt. My spending and saving is out of whack. #fail

Credit Card 7 is my “oopsie I miscalculated my tax liability” debt. Our taxes are complicated – sole proprietor income, multiple jobs, both spouses working, we tend to put some income away in tax advantaged accounts – so it’s hard to get it right to the nose. But, that’s still no excuse that I got the math wrong and didn’t really have savings to cover. It’s not “nonsense,” I’m making poor decisions.

Thankfully, I have the luxury to make bad financial decisions.

2017 Net Worth Tracker:

January: $14,107
February: $21,285
March: $30,016
April: $32,939
May: $33,537