Saturday, December 02, 2006

December Net Worth Snapshot...

What a difference a day makes, or in our case, 30 days. Thanks to 5 pay periods this month, it's partially a record net worth. Our net worth increased 5.56%, for a record dollar total of $6,937.36. Due to a mistake I made when opening our new E-loan savings account, we missed the percentage record by .01%. It seems I stated on our application that we're subject to federal tax withholding, which meant they took out a few bucks out of our savings this month. But after a quick phone call and e-mail, that should hopefully be corrected by next month.

It seems the biggest jump on our balance sheet was made in our liquid assests catagory, with a plump $5,000 increase. Retirement was up a bit, and I kept our home value, car and jewelry static until at least the next net worth calculation. The home value will pretty much stay the same ulness I get an official appraisal, I don't put much faith in my real estate guesstimations. The car values I'll have to relay on Blue Book for, and the jewlery which constitutes my personal property, will be appriased for insurance purposes within the next few months.

There's the usual slight decrease in our liability catagory, due to our goal of purchasing a home within the next few years. The credit cards are always paid off on time every month to avoid finance charges. Minimum payments are made on our auto, school and mortgage loans every month. Our emergency reserve continues to fatten, while our debt to load ratio shrinks. You can view the balance sheet by clicking the pic on the left. Thanks to another good month, slowly but surely, climbing the financial ladder...

2 comments:

Anonymous said...

im a new reader so you may have answered this before. why do you have such a large percentage of your networth in the form of cash/high interest bank accounts. while 5% is a great return on liquid cash, dont you think the majority of your $40k cash could be put to better use elsewhere? looking forward to your reponse...

John said...

We currently live in a condo, and are striving to save for a house. We want to make sure our money grows, is safe, and liquid. I do admit that I need to start doing the next best thing in safe investments, t-bills...