Close Menu
TheHub.news

    Rest Well, Ananda

    By Kyla Jenée Lacey

    Erin Golston’s Love for Wrestling Was Lost But Found Again

    By FirstandPen

    Black Women Voters Speak, and the Highland Project Listened

    By Veronika Lleshi

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    X (Twitter) Instagram YouTube
    X (Twitter) Instagram YouTube
    TheHub.news
    Support Our Work
    • Home
    • Our Story
      • News & Views
        • Politics
        • Injustice
        • HBCUs
        • Watch
      • Food
        • Cuisine Noir
        • soulPhoodie
      • Passport Heavy
      • Travel
      • Diaspora
      • This Day
      • Entertainment
      • History
      • Art
      • Music
    • Healthy
    • Wealthy
      1. Copper2Cotton
      2. View All

      The Time to Buy a Home is Now…Maybe!

      September 11, 2023

      Focus Your Way to Wealth

      April 14, 2023

      What You Might Learn From a $300K Net Worth

      February 6, 2023

      How I built Wealth in a Bear Market

      January 13, 2023

      Black Women’s Unemployment Rate Drops: Here’s What the Latest Report Reveals

      January 13, 2025

      What Does Toxic Positivity Look Like in Personal Finances?

      April 12, 2024

      More Than Money: Cultivate More Flow to Unlock Your Financial Potential

      September 22, 2023

      Music Mogul Akon on How to “Stay Rich”

      September 12, 2023
    • Wise
    • Business
    • Sports
      1. First and Pen
      2. View All

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      With A New Sirius XM Deal, Will It Be Too Much Stephen A. Smith?

      June 11, 2025

      Delaware St. Hires Kenya Sloan As First-ever Head Coach Of Women’s Wrestling

      June 10, 2025

      Fisk Ending Historic HBCU Women’s Gymnastics Program

      June 10, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      With A New Sirius XM Deal, Will It Be Too Much Stephen A. Smith?

      June 11, 2025

      Delaware St. Hires Kenya Sloan As First-ever Head Coach Of Women’s Wrestling

      June 10, 2025

      Fisk Ending Historic HBCU Women’s Gymnastics Program

      June 10, 2025
    • Tech
    • Podcasts
      1. Coach Cass
      2. More Than Money
      3. This Is Lurie Daniel Favors
      4. This is Karen Hunter
      5. Welcome to Knubia
      6. View All

      Rest Well, Ananda

      June 16, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      Black Women Voters Speak, and the Highland Project Listened

      June 16, 2025

      This Day in History: June 16th

      June 16, 2025

      Rest Well, Ananda

      June 16, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      Black Women Voters Speak, and the Highland Project Listened

      June 16, 2025

      This Day in History: June 16th

      June 16, 2025

      Rest Well, Ananda

      June 16, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      Black Women Voters Speak, and the Highland Project Listened

      June 16, 2025

      This Day in History: June 16th

      June 16, 2025

      Rest Well, Ananda

      June 16, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      Black Women Voters Speak, and the Highland Project Listened

      June 16, 2025

      This Day in History: June 16th

      June 16, 2025

      Rest Well, Ananda

      June 16, 2025

      Erin Golston’s Love for Wrestling Was Lost But Found Again

      June 16, 2025

      Black Women Voters Speak, and the Highland Project Listened

      June 16, 2025

      This Day in History: June 16th

      June 16, 2025

      “The People vs. The State: Compromise, Confront, Contain or Control?”

      May 26, 2025

      In Class with Carr: “We Have Been Believers”

      May 14, 2025

      Executive Orders vs Ancestral Orders: The Next 100 Days

      May 5, 2025

      In Class with Carr: Fighting Black, Liberation Beyond the Nation

      April 21, 2025
    TheHub.news
    Home»News & Views»Copper2Cotton»September 2017 Net Worth Update
    Copper2Cotton

    September 2017 Net Worth Update

    By Copper CottonMarch 19, 202504 Mins Read
    Facebook Twitter LinkedIn Email Copy Link
    Share
    Facebook Twitter LinkedIn Email Copy Link

     

    September was a milestone month for me. I closed on my home and managed to bring the last of my credit card debt down to single digits. The entire mortgage process kicked my ass and dragged me for filth. How bad was it? I was rejected three times in the last nine months just days before the expected closing date.

    I know getting a mortgage today is hard. I was told that you must have pristine finances and credit if you hope to have any real chance of closing on a mortgage today. I was also told it really has nothing to do with the color of a person’s skin because today the information is plugged into a computer and the computer makes the decision.

    Well, I say bulls@$% to that!

    I won’t go into all the dirty details about the process in this entry but I will say that it has been a little more than a week since I’ve closed and I’m really considering therapy.

    Would I do it all over again? Absolutely. It was made abundantly clear to me that “the powers that be” work extremely hard to keep brown people from owning property, so that means we should move heaven and earth to make sure we all own something, I don’t care if it’s an empty lot. I’ve attached a few articles that I think you should read just so you know what you are up against when you start on your journey:

     

    http://www.pewresearch.org/fact-tank/2017/01/10/blacks-and-hispanics-face-extra-challenges-in-getting-home-loans/

     

    https://www.nytimes.com/2014/02/02/realestate/race-gap-on-conventional-loans.html

     

    http://time.com/money/4354981/mortgages-blacks-hispanics-banks/

     

    Now for my net worth update. I always kept the account for my home purchase separate because I knew one day that most of it, if not all of it would be used for my down payment and closing costs. Well, now that the dust has settled. I was left with a pleasant surprise of $4,708 left in the account.

    I decided to put $3,000 (okay, $2,950 to be exact) on my last credit card bill (BOA) and I moved the remaining balance ($7,250) to a zero-percent card. I couldn’t make any moves with my credit while applying for and waiting to be approved for my mortgage or I would have done this sooner.

    Having applied the $2,950 to my debt I still have $1,758 left in my down-payment account. Since the account is also where my taxable stock account happens to be I’ve decided I’m going to keep the account open instead of closing it as planned. The account allows me to buy stocks without having to transfer money from my checking account (super convenient and budget friendly). Also, I’m going to have $200 automatically deposited every month.

    This will be the money I use to buy stocks that I’ve been watching, purchase CDs, or add to my IRA, if I haven’t managed to max it out for 2017 by April. Sidebar, in case you didn’t know, we all have the entire year plus the first four months into the next year to max out retirement accounts. Basically, we have until April 15, 2018 to max out our retirement accounts for 2017. That’s more than 15 months to max out your retirement accounts.

    I won’t let the account build past $2,500. Anything over $2,000 will be transferred

    to my AMEX Personal Savings Account every couple of months.

    Since closing, AMEX PSA has officially become my emergency fund. I made this decision after watching them raise the interest rate for three consecutive months. You should know that the AMEX PSA has an interest rate of 1.25% with no minimum required to open and no minimum to receive the full 1.25%.

    I had planned to increase my automatic deposits for (retirement and savings) by 1% for the new year. But I’ve decided to hold off on that until I have a healthy emergency fund. The amount that I considered healthy while renting wouldn’t go very far now. The progress is slow but headed in the right direction. I wonder where this money would be if I didn’t sit down and automatically direct it into the accounts listed below.

     

    September Net Worth Update

     

    Assets:

    SEP IRA:                    $4,723.95

    IRA:                            $6,398.88

    CASH:                        $3,901.87

    MM:                            $2,412.97

    Stocks (taxable)         $2,248.29

    I-bonds                       $6,485.59

    Investing fund             $1,758.16

     

    Liabilities:

    Credit Card                  $7,250 @ 0%

    Originally posted 2017-09-07 22:12:05.

    Copper Cotton

    Copper2Cotton is a money blog following one person's journey to reach $1 million net worth. This blog will not only show the author's progress, but also give financial tips and insight for anyone who wants to be wealthy.

    Related Posts

    Black Women’s Unemployment Rate Drops: Here’s What the Latest Report Reveals

    January 13, 2025

    What Does Toxic Positivity Look Like in Personal Finances?

    April 12, 2024

    More Than Money: Cultivate More Flow to Unlock Your Financial Potential

    September 22, 2023
    Add A Comment

    Comments are closed.

    Recent Posts
    • Rest Well, Ananda
    • Erin Golston’s Love for Wrestling Was Lost But Found Again
    • Black Women Voters Speak, and the Highland Project Listened
    • This Day in History: June 16th
    • Did You Know the First Black Mayor of Newark, New Jersey Was Elected on This Day?

    Coach Cass: Don’t Date in Desperation

    By TheHub.news Staff

    Lil Boosie Bad Ass Goes Bad on His Own Kid

    By Kyla Jenée Lacey

    Grambling St. Names Mickey Joseph New Head Football Coach

    By TheHub.news Staff

    Some Highlights From The 53rd Annual TCS New York City Marathon

    By Jonah

    Subscribe to Updates

    A free newsletter delivering stories that matter straight to your inbox.

    About
    About

    Celebrating US from one end of the land to the other. We record our acts, our accomplishments, our sufferings, and our temporary defeats throughout the diaspora. We bring content that is both unique and focused on showing the world our best unapologetically.

    X (Twitter) Instagram YouTube

    Rest Well, Ananda

    By Kyla Jenée Lacey

    Erin Golston’s Love for Wrestling Was Lost But Found Again

    By FirstandPen

    Black Women Voters Speak, and the Highland Project Listened

    By Veronika Lleshi

    This Day in History: June 16th

    By TheHub.news Staff

    Subscribe to Updates

    A free newsletter delivering stories that matter straight to your inbox.

    © 2025 TheHub.news A 501(c)(3) tax-exempt organization.

    Type above and press Enter to search. Press Esc to cancel.