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Financial Update

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Here’s how I’ve been doing this past month in saving money. I’m not including my new student loan in this because I should be reimbursed for my classes from my company as I finish them. However, I plan on using the reimbursement to pay off my earlier student loan with a higher interest rate first, even though it is in deferrment while I get my MBA.

  October 12 September 12
Cash Accounts: $ 10,920 $ 11,417
Taxable Investments: $ 2,860 $ 2,795
401k (Pre-Tax): $ 7,259 $ 6,846
Roth IRA: $ 754 $ 485
Credit Cards: ($ 1,747) ($ 2,816)
Student Loan 3.97%: ($ 3,562) ($ 3,714)
Home Inventory: $ 7,659 $ 7,659
TOTAL $ 24,143 $ 22,672

I’m still not saving as much as I’d like, and on top of that, it looks like I’m going to need to buy a car. I don’t know whether I should buy something just off a lease and reliable enough to last ten years, costing me what I currently have in my cash accounts plus some, or save the money now and just get something older that will need more work to keep for another ten years.

Published or updated October 12, 2003. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .