Net Worth Week 55

Gentle Readers,
I think I figured out my self-employment taxes last weekend. Based on the forms I filled out, I don’t need to prepay quarterly taxes for Self-Employment Tax purposes because I do not anticipate earning enough through my business this year. I also received my federal refund and immediately plowed it into paying down debt as intended.
My overtime goal was thwarted this week because we were made to leave early on Thursday. I used the “extra” time to mow my lawn before we get into the 90s this weekend, which was great because all of the rain had prevented me from maintaining it properly. The added $30 from my roommates never hurts either.
I’m still doing what I can overtime-wise, but it will be smaller than I intended this week.  My project got a surprise two new coworkers this week. Our project manager is now indicating more strongly that we will have work after the next eight weeks, but there are never any guarantees in this industry. I’m still going to try to overload on OT while I can, because you never know what the future holds.  If all goes according to plan, I will pay off my balance transfer before the 0% interest rate changes in early July. In the past two weeks, I have paid off 49% of the remaining balance. The next two paychecks are entirely devoted to debt reduction.
I have used my girlfriend’s old crock pot twice now, which means my lunches have been far more frugal than usual. I’m still getting the hang of the process and seeking out better recipes. Do you recommend any?
This weekend I’m looking forward to dinner with a friend who is in town and also a college alumnae resistance event. See, I do some balance.

This week’s net worth numbers

4/21/2016 4/28/2017
 Joy 1105 1105
 Travel 1 1
 Down Payment 19 19
 Retirement 21 21
 Health 45 45
 Moving 285 285
 EF 11 11
Business 1002 1002
Life 1239  1324
 IRA  12768  12974
 Brokerage 691  698
 Rewards Card 2 -1000 -1859
 CC (largest) -2761  -1629
 CC (longest) 0  0
 Rewards Card -1176 -1200
SL 1 -104490 -104606
 SL 2 -46029 -46081
 Earnest -5296 -5307
 Net Worth -143478 -143110
 Percentage Change .92 % .26%

Has the rain ended in your area yet?

Author: ZJ Thorne

Lesbian on the path to Financial Freedom

  • Vicki@MakeSmarterDecisions

    It’s raining here right now…and forecast for all week. Our lawns look lovely though! We have two 0% cards coming due this summer. Just not sure if we’ll be rolling them over – or paying them off. We can get a 2% roll – which is great. It’s just more mind clutter though…

    • The mind-clutter is real. I don’t think I’ll keep the card after I pay it off. It doesn’t have rewards and isn’t my longest card.

      We’re forecasting more rain here. I’m really glad I was able to mow on the one day it didn’t rain. I have a mower with no motor. It’s physical work and the grass had grown so tall with all that rain.

  • ZJ, Couldn’t help but notice why you are carrying CC debt when you have positive brokerage/savings balance? Wouldn’t it be better to pay it off completely and get an “assured” 12% (or whatever your CC charges) rather than an uncertain return from the market? Am I missing something here?

    • My income is irregular as a temp, it’s important to have more cash. It is very tempting to wipe it out, but it’s not as safe with my unknown income.

      Most of the CC debt is at 0%.

      I also know that psychologically it is helpful for me to invest before having CC down to 0. Thankfully, I’m working a ton of OT to destroy the remaining CC debt before contributing to my 2017 IRA.