One Giant Leap Backwards

Well, as is my sporadic custom, I have decided to update you all on the state of my Networth and my Prosper Experiment.

Without further ado,


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And Prosper:


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On the positive side...

1. Prosper is humming along nicely. I have successfully deployed all of the available cash from the loan into higher yielding loans, at an average interest rate of over 23%.

2. My TSP, Roth IRA and FolioFN balances are doing well, thanks to regular contributions and a phenominal stock market right now.

3. Regular payments to mortgage, car loan and credit cards continue to reduce the balance due on those loans, and additional principal payments are helping to pay down these balances at an ever increasing rate.

On the negative side...

1. Balances on the "main" credit card have significantly increased since my last post, due to scheduled maintenance on Elissa's car (prevention being theoretically cheaper than a future cure) and the purchase of some large ticket items. Specifically, the 42" Plasma screen TV that we purchased because:

a. We (and by we I mean I) have always wanted a big screen TV.
b. Our current TV did not have the necessary inputs/outputs to work with the surround sound system properly (close-out deal on display model at Sears, last years model, marked down from $700 to $150).
c. It was a phenominal deal. Retail price for the TV was $1300. Bought a returned/opened item for $1170. Recieved 10% discount for using first purchase on a military star card (reducing price to $1052). Recieved CREDIT to star card of an additional 10% for no apparent reason (reducing price further to $945). Military star card also running promotion of 6 months, 0% interest on all electronics. I can totally pay off $945 in 6 months.

2. Account balances at TFCU have dropped to dangerously low levels (at least as far as my peace of mind is concerned). This is primarily due to the purchase of a new entertainment center and armoire to house the new (and old) TV's, as the existing entertainment center was inadequate to the new TV, and inappropriate for the old TV (now relocated). Still, this was a one-time purchase that will not have to be repeated any time soon. This furniture was also bought on clearance from Wal-mart for $440.

3. Elissa's savings accounts have dropped due to her birthday trip to visit her family. She bought lots of things for herself and generally had a great time...which is the purpose of saving up for vacations, so I'm not going to complain on this one. She did, however, spend $155 on an area rug for the new entertainment area of our living room, so I will choose to add that into the overall cost.


In the end, we got a 42" TV with all the bells and whistles, a 5.1 stereo surround sound system with 5 disk DVD player, HDMI cable, huge area rug, TV table, two media towers, an end table and an armoire which combined retails for about $2630 plus tax for only $1700.

I couldn't pass up that kind of deal...not when it's some things that I have wanted for 4 or 5 years now. So...even though it wiped out the last 4 months worth of progress towards becoming debt free....I still think it was worth it, because I got great VALUE for my purchases.

~A Reading from the Tao of Scott