Category Archives: Net Worth

January 2008 Net Worth Update (+$806.53)

Our net worth increase this month may not be as much as usual, but we’re still making progress. Our net worth increased $806.53 over last month, to $24,679.78 (click on spreadsheet below).What worked this month?Much went well this month. We began our 2nd mortgage accelerated payment plan by paying an additional $691.00 in principle, increased our savings account balance by $1,390.61, began our 2008 Roth IRA contributions with $300, and increased my 401(k) contribution by 1% (4% total contribution).What Read more [...]

2007 Net Worth Recap

Below is a table compiling our net worth data for 2007 (click on table to enlarge). Besides our monthly net worth growth, certain things jump out at me:Large increase in Pre-tax Retirement Accounts in September due to company profit sharingNo Roth IRAs until May; both fully funded by NovemberNew (used) vehicle in June; large vehicle depreciation adjustment in December Credit card debit completely paid off in NovemberLarge payment to student loan in March using tuition reimbursementReviewing our net Read more [...]

December 2007 Net Worth Update (-$3,301.44)

December was the first decrease to our net worth since we began tracking it in February. Our net worth decreased $3,301.44 from last month to $23,873.25 (click on spreadsheet below).What worked this month?While December was a roller coaster month in the stock market, thankfully, our investments ended on an up note.What did not work this month?December was a bad net worth month because of my poor accounting methods earlier in the year. As I mentioned in a previously post, I have not been depreciating Read more [...]

November 2007 Net Worth Update (+$2.01)

November has been a crazy net worth month due to the stock market volatility. Many times throughout the month, our net worth dipped over $800 below what we ended October with. We also had a few large annual bills come due this month including a $1,842.84 condo tax bill, $880 auto insurance bill (1 years coverage), and a $416 condo insurance bill (1 years coverage). That being said, we are thankful to have ended the month with a net worth increase of $2.01 over last month, for a total net worth of Read more [...]

October 2007 Net Worth Update (+$1,409.31)

October was a pretty average month all around. We increased our net worth $1,409.31 from last month, to $27,172.68. We've already passed our net worth goal for 2007, so any additional gains are gravy.What worked this month?My wife continues to bring in multiple streams of income. She brought in a $761.50 commission check for referring a customer to her father's company and a $752 commission check from old job. Another plus this month was that our retirement accounts (401K and Roth IRA’s) increased Read more [...]

September 2007 Net Worth Update (+$8,496.14)

September has been a banner month. Our net worth increased $8,496.14 over last month to $25,763.37 (click on the spreadsheet below). We blew by our 2007 net worth goal of $22,000 this month! Now we can use the final 3 months in 2007 to start making progress on our 2008 net worth goal of $47,800. Our previous best net worth increase month was March 2007, with a $6,462.28 increaseWhat worked this month?We have a lot to be thankful for. My wife was able to find a new job within a week of being laid Read more [...]

August 2007 Net Worth Update (+$2,205.39)

August has been a volatile month in more ways than one. Nonetheless, our net worth increased $2,205.39 over last month, to $17,267.23 (click on spreadsheet below). We are currently at 78.49% of our 2007 net worth goal. Thank God, we’re still ahead of schedule to meet our goal.What worked this month?I received an extra (3rd) check this month that provided us with an additional $1,880.70. We were able to increase our savings by $831.02, which is amazing because we had a couple of large expenses come Read more [...]

July 2007 Net Worth Update (+$2,039.64)

July was our lightest net worth increase month yet. Our net worth increased $2,039.64 over last month, to a new total of $15,062.84 (click spreadsheet below).Still, we had a better month than I expected, primarily because a $1,000 business expense has not posted yet . Here are the highlights from July: In an effort to sock away a bit more money, we increased my 401(k) contribution from 2% to 3%. My wife received an additional $1,674.68 in income in July that greatly helped boost our savings account Read more [...]

June 2007 Net Worth Update (+$3,979.67)

We had a lot of financial action in June. Our investments ended on a down note, but we still increased our net worth by $3,979.67, to $13,022.20 (click on the spreadsheet below).My wife received an extra $1,161.67 paycheck this month. I cashed in 6 days of vacation time for an extra $1,219.11. We sold Car 1 and bought a new (used) Car 1. $1,000 was withdrawn from savings to transact the deal, and we spent another $321.94 getting the new vehicle outfitted with an alarm and a few other things. Also Read more [...]

May 2007 Net Worth Update (+$2,604.03)

Our net worth is now at $9,042.53, a $2,604.03 increase from last month (click on the spreadsheet below). Our biggest gain came from a $600 increase in our 401(k), only $100 of which was from contributions. We also checked off another short term goal by opening a Roth IRA for my wife and funding it with $3,000 (thus the hit to our savings amount). Our liabilities were reduced by their standard monthly amounts, except for our Chase credit card that we paid $105 extra on.God willing, we should reach Read more [...]