A lot happened with my money over the last month. I closed a refinance on my mortgage, I used lots of airline miles, and I bought new individual stocks for the first time in about a year. Here's how the cookie crumbles.
Banking, Debt, and Investments
This month, I had to move a bit of money around. On January 10, I closed a refinance of my mortgage. I had about 29 years left on my mortgage at 4.25%. I lowered the time to a 15 year fixed and lowered my rate to 2.875%. Over the life of the mortgage, I will save about $50,000 in interest assuming minimum payments. Of course, I don't only make minimum payments. I plan to pay it off early.
I continued depositing $25 automatically each month into Lending Club account. My net annual returns at Lending Club are 10.76%. I currently have 28 active loans and 1 in funding. I love Lending Club as an alternate investment vehicle.
Liberty Fund Update
I have a $30,000 savings goal for my liberty fund. Saving up $30,000 is not easy, but it is a goal that I know I can attain as long as I keep focused. This month, I was able to keep adding despite my mortgage refinance costs. The current balance is $19,129. The bulk of my liberty fund is in a high interest savings account. I suggest Ally Bank for this type of savings. This is an increase from my$5,000 emergency fund goal.
I am planning on installing hardwood floors in three rooms in my condo, and may need to take about $3,000 out of the liberty fund to pay for it in the next couple of months.
Side Business Income
Narrow Bridge Media – All Blogs and Online Activities
Revenue
- Private Ad Placements and Freelance Work – $255
- AdSense – $31
- Affiliate Payments – $333
Expenses
- Freelance Writers – $0
- Web Expenses – $350
Decent month, but not spectacular. The big expense was for a new website theme framework I am trying out.
Denver Flash Mob
- Revenue – $150
- Expenses – $0
The completely rebuilt the Denver Flash Mob website is sending me more business leads, but I don't always have the ability to meet the requests. I have a mob in the works for April.
DJ Yofi
- Revenue – $0
I did one show on New Years Eve for Denver Underground Parties (see below).
Denver Underground Parties
I started a new project with two friends called Denver Underground Parties. We had our first successful event on New Year’s Eve, and it was a profitable party. We have not paid ourselves from the earnings yet, so I will hold off on sharing the profits.
Net Worth
In total, my net worth was up $4,200, or 2.69%. I update my condo value from Zillow and update my car value based on Kelley Blue Book annually in January. I pay off my credit cards in full each payday.
Great update and nice work on the refinance. I think the flash mobs are really cool too 🙂 I look forward to seeing how well your new project gets off the ground. I love making my rounds and checking in on all the updates. It’s so awesome seeing really cool people doing well!
Thanks for stopping in!
Congratulations. Looks like your online activity is going really well!.
Thanks! Online businesses are doing well for me. I am trying to move away from direct ads and more toward affiliates, but it is a slow transition.
Do you mind if I ask what app or program you sue to generate the personal net worth dataset?
I use Net Worth IQ. I write a bit more about the process here http://narrowbridge.net/personal-balance-sheet-week-project/.
Thanks a lot Eric!