Layout:
Home > Interest

Interest

January 11th, 2007 at 04:41 pm

Interest on your savings is a nice thing. We kind of keep track of how our mutual funds and/or stock is doing, but I never keep track of how much interest I am earning. This year, I got a notebook and starting this month, I am going to keep track of how much interest I earn each month. Does anyone else do this?

5 Responses to “Interest”

  1. pjmama Says:
    1168534416

    I add my interest to my challenge money, so in a way, yes Smile

  2. scfr Says:
    1168534800

    Yes, I keep track of our total earnings for each month. It includes interest, dividends, and changes in share price for our mutual funds. It also includes maturity dates on CDs or Treasuries, and the rate we are getting. (After we buy a house, I'm planning to include the change in value for the house too but I'm not exactly sure the best way to do that. I'll probably use the rate of inflation to start with and make adjustments from time to time depending on how our local real estate market is doing.)

    Then after I've added up our earnings, I calculate the average annualized rate of return for our entire portfolio each month, and do an annual return at the end of the year.

    I may stop doing this monthly and start doing it quarterly instead after we have bought our house. But then again, I may keep doing it monthly ... I like doing it monthly because it keeps me on my toes trying to get the best rates with our cash savings.

    My husband & I make the big financial decisions together, but I handle all of the record-keeping and day-to-day operations. So, it gives him a better idea of how we are really doing if he can see a monthly summary.

  3. Aleta Says:
    1168535188

    Yes, like scfr above, I keep track of the interest, dividends, CD interest, savings bonds. I keep it in a notebook. I total up all of the various interest and get a percentage of how much all of it is getting monthly. Sometimes, I have transferred money into another account because I have kept too much money in a low-paying account.

  4. LuxLiving Says:
    1168537748

    Yep, I keep track Ima! I do a monthly net-worth statement for The Hubster just for info purposes. It does help to see that what you are doing is working and keeps you up to date on when a change in 'cash location' might be of benefit when elsewhere is paying higher interest.

  5. lgslgs Says:
    1168542569

    We do.

    Where it is especially handy is with our health care savings accounts. That little bit of interest every month ends up covering most of the little medical costs like aspirin, bandaids, allergy medicine and the like.

    Lynda

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]