After realigning my Save-O-Meter and Debt-O-Meter a few months back, I have updated the figures to accurately reflect what I have in my accounts. I am happy to report that I’ve made some good progress on both fronts. I’ve gone from 5% to 8% on my Save-O-Meter thanks to regular weekly savings of $25, and a few new account referral bonuses. My Debt-O-Meter is up from 5% to 11% as well.
Some notes:
1. My Save-O-Meter includes 1 brick and mortar savings account at a very low rate primarily for overdraft protection, 1 CD and 1 ‘high yield’ savings account. I use the phrase ‘high yield’ loosely as that account is well under 4% APR these days. It does not include anything in my checking accounts, even though I’ve been holding a little bit of a reserve in them. Nor does it include anything at Prosper or Paypal.
2. My Debt-O-Meter is delayed in reporting. For instance, my balances are actually down 16% as of the time of this post, but the displayed amount reflects what I reported to Net Worth IQ at the end of August. The reason for the gap was a large $900 payment I made on the 5th of the new month. Eventually, I’ll get around to reporting that, but maybe not. I’m about to charge some plane tickets for Thanksgiving soon.
3. I’ve pretty much walked away from having an Emergency Fund right now. When I first started blogging, the Save-O-Meter represented my start at an emergency fund, but then I had to liquidate it for an emergency and a dream of buying a motorcycle. (whee!) I’m working on building it back up right now, but I’m also not in a hurry either.
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