Mar 252006

This is the first time I’ve ever tried to figure something like this out, so have no idea if I’ve got some glaring mistakes (left out or added in), but I think it’s a pretty good accounting of where I stand right now.

According to NetWorthIQ this gives me a negative net worth of <$31,146> as of this moment.

The numbers-My “personal property” is very much an estimate, but I’d be surprised to get more than $1500 for everything I own. The only things not counted in income (or expected income) are some open ended personal loans that I’ve made to people and the giant jar o’ change downstairs.

Wallet: $306.00
HSBC Savings: $674.38 [earning 4.8%]
VirtualBank Savings: $150.00 [earning 4.6%]
NetBank Checking: $409.22 [earning 0.74%]
TOTAL: $1539.60
Car: ~$500.00
Personal Property: ~$1000.00
TOTAL: $1500.00
Paycheck: ~$600.00 (3/31/06)
Rent from boarder: $100.00 (4/01/06)
SBC from boarder: ~$40.00 (4/01/06) [will vary based on bill reduction]
Rebates: $200.00 (4/??/06)
Web work: $750.00 (4/??/06)
TOTAL: $1590.00

Back Rent: $12,018
Back Child Support: $19601.47 [paying 10% interest]
Back Interest on Child Support: $2160.08
M/C: $102.00 [paying 0% interest thus far]
TOTAL: <$33881.55>

Car Insurance: $53.08 (due 3/27/06)
Rent: $950.00 (due 4/1/06)
PG&E: $76.09 (due 4/4/06)
SBC: $85.10 (due 4/12/06) [This bill is messed up and will be reduced]
Child Support: $385.00 (due 4/15/06)
Interest on Back Child Support: $142.14 (due 4/15/06)
Federal Taxes: ~$100.00 (due 4/15/06)
TOTAL: <$1791.41>

Mar 242006

After reading Frank (The F.S.A) defend against Miserly Bastard over at Yet Another Blog about Money I just had to check this place out for myself. So I created an account (my profile) and joined a group (#1 Goal, Wanna Be Debt Free!).

My desire is to get a small ($2,000 – $5,000) loan that I can use to pay off the remaining back interest on my child support. This will allow the extra money that I send in support each month to actually pay off against the back principle instead of simply paying for debt management. I realize that I will then be paying debt management on the new loan instead of the old, but I still feel this has a few benefits:

  1. Another positive line on my credit report.
  2. Help my negotiations with the child support office over things like my drivers license, passport, etc.
  3. Hopefully, my ex-wife will actually spend some of this large influx of cash to actually buy some things that my daughter needs as well instead of the money simply disappearing into the quagmire that is her finances as it usually does.

Being able to shop for my own interest rate is appealing as I can guarantee that I’ll be able to not only make the payments on-time, but probably have the loan paid off in less than 18-months (all Prosper loans are 36 months).
Still puzzling this one through, but it seems like it’s going to happen.

Mar 242006

I decided a few weeks ago to take advantage of a few more Online Savings Account Savings Bonuses, so requested a VirtualBank referral from Jonathan at MyMoneyBlog. Eventually I want to open an Emigrant Direct and an ING account through him as well, so I can then “sell” my referrals back to him for further distribution. Besides, his blog was the one that really got me moving forward, on these new account bonuses, so I think he deserves to make a little something from me in the process.

On Tuesday I submitted my application to VirtualBank. On Wednesday I received an email from them telling me how to report the test deposits they’d made into my NetBank checking account. Those deposits didn’t actually show up until around 3:30 this morning. Once they did I went to VirtualBank to confirm them, but kept getting 500 Internal Server Errors instead of the confirmation page. Not a good sign.
Around 4:15 this morning I tried again and successfully confirmed the deposits. The confirmation message stated that in three more days my account would be accessible. So now it’s back to wait and see mode.