A History of Liabilities

Going Back Almost A Decade

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An inheritance from my in-laws allowed us to pay down some serious debt in late 2008.

We refinanced our mortgage in June of 2008. There is truth to the old adage, if you can get lower by a whole percentage point, do it. I have refinanced at least 3 times since 2000. I also have a separate post on the history of our student loansThose loans started out at over $200 k after our graduations from law school in 1999/ 2000.

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We bought the Cottage in August 2012 and absorbed the added payments by having wifey go back to work full time.

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We opened a HELOC to do a business deal with a friend. After 2014, I started to include a running total of Liabilities as part of my Monthly Net Worth calculations. That is why I stopped tracking it separately.

SEO is a bully and it makes you add unnecessary words to hit ‘minimum’ lengths to appease the search gods. Whatever.

A baker in a little country town bought the butter he used from a nearby farmer. One day he suspected that the bricks of butter were not full pounds. For several days he weighed them.

He was right. They were short weight, and he had the farmer arrested.

At the trial the judge said to the farmer, “I presume you have scales?”

“No, your honor.”

“Then how do you manage to weigh the butter you sell?” inquired the judge.

The farmer replied, “That’s easily explained, your honor. I have balances and for a weight I use a one-pound loaf I buy from the baker.”

 

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