Tuesday, November 2, 2010

First expenses of the month... and the experiment!

Okay, normally I would not be happy to be spending money.  Especially large sums of money.  But this feels different.  First of all, it is the official START to my year-long experiment.  That just feels good, for some reason.  Secondly, these are all reoccurring expenses so it isn't as if I have been surprised.  Finally, I consider all to be long-term investments.

Here goes:

Mortgage Payment = $880.79
When I built my house I put 30% down and got a really low interest rate, so I feel pretty comfortable with my monthly payments.  My payment includes my property taxes, but not insurance as I pay that separately through my insurance company.  I do try to pay a little extra towards my payments when I can.

Money Market Contribution = $125
I have a higher interest money market account through my stock broker.  Basically, I use this account as my 'long term emergency only' savings account.  Periodically I will also use it if I want to purchase a stock or other investment.  I contrbute $125 monthly to this account.  It is automatically deducted so I can't "forget" to do it and go shopping instead.  :)

IRA Contribution = $200
I contribute $200 monthly to my IRA account, which is automatically deducted.  

Stay tuned... I am making a run to the grocery store later today so I should have an update for you later tonight.  

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