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?
Interest
January 11th, 2007 at 04:41 pm
January 11th, 2007 at 04:53 pm 1168534416
January 11th, 2007 at 05:00 pm 1168534800
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.
January 11th, 2007 at 05:06 pm 1168535188
January 11th, 2007 at 05:49 pm 1168537748
January 11th, 2007 at 07:09 pm 1168542569
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