So this October net worth update is extremely late, but I wanted to get it up on the blog before I post the November chart in a few weeks.  As you can see, not a lot has shifted.  I need to re-evaluate what money is going to where in order to make sure I’m throwing as much towards my debt as I can.

In fact, this has become even more urgent to me now that I did a quick estimation of the student loan debt that I will have upon completion of my MBA.  For about half a second, I considered starting a student loan debt payment account to begin collecting money to start off with a large lump sum payment.  However, I quickly realized that it would be smarter to pay down all of my other debts in the hope that once the new student debt shows up – it will be the only debt that I will need to focus on at that time.  Sure it will be big – but it will be really nice just to have the one debt item.

Now, that I wrote my intentions, I do have to be upfront in saying that I did just take a vacation. During the vacation I spent about $800 or so.  I take one vacation a year, and many have commented that I shouldn’t be taking vacations or spending money like that if I’m really serious about paying down debt.  However, that money comes out of a “vacation fund” that I do not count towards my net worth and, to be honest, I don’t regret getting away for a bit and recharging the batteries.  In fact, going away on vacation (with a dedicated fund / budget) is a nice way of showing yourself how life could be if you didn’t have to worry about money – which is the ultimate goal.

Anyway, it’s back to reality and time to really start planning for 2010 and how to make the most of it right from the start.  The end of the year is always tricky.  Just like vacation, I have a dedicated holiday or gift fund that I save up throughout the year (not counted towards net worth).  This way, the scramble for Christmas gifts doesn’t impact my budget or debt payment.  Plus, there’s the hope of year-end bonuses and next years tax refund to look forward to.  Usually, a nice boost to the plan.