Hoarding Cash
I’m holding onto a lot of cash at the end of April. My net worth is going to look screwy I think.
For the most part, it’s totally artificial because I took out a $5K balance transfer on one my credit cards to cover the bathroom remodel. I wonder if I should hold back some of the cash reported because it’s in reserve for the construction.
At any rate, I’m still gathering numbers for net worth valuation for April. I always have to guess my mortgage numbers since one of the statements doesn’t come until after the month closes. (But usually the guess I make is pretty good, +/- $200)
Here’s to you Ben Bernanke for yet another Fed rate cut. I don’t think it’s really going to do anything for me at the moment. It’s likely working against me since I won’t be able to find a better paying interest rate on my emergency fund CD’s this summer. pooh.
Trent Hamm wrote:
I think the fed is trying to unfreeze the credit market and get banks to trust each other, and the only way to do that is to grease the proverbial skids.
Posted on 01-May-08 at 8:03 am | Permalink
Msminiducky wrote:
*sigh* I can’t wait until Ben starts singing a different tune.
Posted on 01-May-08 at 11:37 am | Permalink
Mike wrote:
I wouldn’t hold back on cash numbers for your April networth. You took out against a credit card so you have an increased liability as well. It will look like a bigger hit to your net worth when you pay for the construction, but I think that is ok, it is a big hit you are taking. That dip on your graph will make it easy to remember where the money went.
Posted on 05-May-08 at 2:17 am | Permalink