October 2008 Net Worth

My net worth took a -6.98% nose dive, however my cash (increase of 17%) and debt (100% decrease...it was only $10 :)) are quite strong. In times like these, I believe these two line items are what really matter. A huge boost ($1,100) to my cash reserves came courtesy of working at a week-long conference earlier in the month. Not only a great work experience, but made my bank account warm and fuzzy. :)

I have to confess, I have been really lax with following my budget. I've been using it more as a "suggestion" than a rule. What I've been noticing is that I'm pulling out my credit card whenever I don't have enough cash (in my checking attached to my debit card) available. I always pay it off, however I believe this is where I can get myself in a lot of trouble. And trouble is the last thing I need right now. So I'm getting back to my budget as a rule, not a suggestion. This week I'll post three things:

1. Income and expected expenses for the entire month.
2. Two smaller budgets specific to the two paychecks that I get. Each check as a different amount due to various deductions, so timing for cash flow is important.

The goal for November is to save between $1,200 to $1,600. The lower number would be the bare minimum, the higher quite a stretch, especially since it's holiday season. But we'll see.