…Is the exact amount we paid to to Washington Mutual in interest in 2006. Since its getting to about the time of year when everyone send your tax relevant information, we’ve been receiving a fair amount of stuff from our various banks, brokerage companies, etc. I’ve been processing and filing it as it comes in.

Of this stuff, the most impressive figure is the 21 thousand we paid in interest. If you assume that my wife Miel and I made about around $70,000 this year, then we’ll have paid nearly 30 percent of our income out as bank interest on our home mortgage. Yipes!

In contrast the small fortune we gave WaMu, is the paltry and unimpressive amount of income I’ve been paid from my research assistant job at the university. In 2006, I earned a grand total of $3005.50. Yikes! Thank goodness my wife has a real job!

I guess that’s about it for today!

Have a great weekend.

Best,

James

MANAGE YOUR MONEY TOGETHER

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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