Wednesday, August 09, 2006

My (supposed-to-be) monthly financial update/net worth

I know it's not the most interesting topic, but I'm so overdue that I've got to do this before writing other posts.  So without further ado:
Savings: $21,351 (up $3,310 or 18.3% since June 1)
Retirement: $13,098 (up $987 or 8.1%)
Debt: $15,195 (down $100 or 0.1% )
Net worth: $19,254 (up $3,222 or 20.1%)
Year-to-date giving as percent of 2006 goal: 39%
A couple of notes: 
  • I'm adding a new category to my (supposed-to-be) monthly updates: the percentage of my yearly giving goal reached so far.  I think this is a good idea for a few reasons.  First and foremost, hopefully it'll help keep me accountable to actually reach the goal by the end of the year.  (As you can see, I'm way behind, although I'm actually doing better than in past years.)  I also want to include it because it will help give a better picture of the changes from month to month; one month my savings may increase more and the giving total may increase less, and the next month vice versa.
  • The reasons the increase in savings is bigger than the increase in net worth is because I got back the last $1,100 of my "accounts receivable," which boosts my cash on hand but is neutral in the net worth column.
  • My savings increase is higher than usual while my debt decrease is lower, which is because about half of my debt is actually owed to my parents (by mutual agreement to help them pay back loans in their name they took out to pay for my college).  I've been paying them $250 a month, but back in May we decided that I'd give them a lump sum of $2,000 of it and then stop the monthly payments for a while.  So my only debt decrease has been my little $70 ($50 principal) monthly payments on my consolidated 2% interest student loan. 
  • I think I'm on track for a $25,000 net worth by the end of the year!  Yay!

1 comment:

Tiredbuthappy said...

"I know it's not the most interesting topic"

Are you kidding?!? For this group of financial voyeurs? It's what we live for. Okay, speaking for myself, I love reading people's net worth reports. This is exactly why PFblogs are so interesting. I don't know how much money my sister has, or my next door neighbor, or my coworkers, or the guy sitting next to me on the commuter train.

But I do know how much money a whole bunch of I have never seen before have.

What's not to love about that?