| Assets | November | December | | Difference | % change |
| Cash Savings | $3,600.00 | $3,120.00 | | -$480.00 | -13.33% |
| Home | $121,778.00 | $119,578.00 | | -$2,200.00 | -1.81% |
| Rental | $70,000.00 | $70,000.00 | | $0.00 | 0.00% |
| Retirement | $3,992.00 | $4,113.78 | | $121.78 | 3.05% |
| 529 | $98.40 | $99.44 | | $1.04 | 1.06% |
| Roth | $0.00 | $0.00 | | $0.00 | 0.00% |
| Misc (Car, etc) | $7,000.00 | $7,000.00 | | $0.00 | 0.00% |
| Total Assets | $206,468.40 | $203,911.22 | | -$2,557.18 | -1.24% |
| | | | | | |
| Liabilities | | | | Difference | % change |
| CC | $4,360.00 | $2,727.22 | | -$1,632.78 | -37.45% |
| Home | $98,986.00 | $98,833.00 | | -$153.00 | -0.15% |
| Rental | $67,014.00 | $67,014.00 | | $0.00 | 0.00% |
| HELOC | $9,900.00 | $9,833.02 | | -$66.98 | -0.68% |
| Student Loans | $54,918.72 | $54,844.60 | | -$74.12 | -0.13% |
| Total | $235,178.72 | $233,251.84 | | -$1,926.88 | -0.82% |
| | | | | | |
| December's Net Worth | -$29,340.62 | | -$630.30 | -0.42% | |
This is my blog’s first official Net Worth statement so it took a while to complete. I was up pretty late last night. I still have a lot of work to do. Unfortunately, the more I tweek my finances the lower my net worth becomes. The short term results are slightly depressing but the long term results will be a benefit.
Cash: There was a one month reserve in my savings account for the rental property. I paid the first mortgage payment this month, so my savings took a hit.
Property: I need to figure out the blue book value of my car. I estimated $5,000 and $2,000 for my plasma t.v. and other misc items.
Rental + Home: When I originally calculated my net worth, I used the appraisal value from when I bought the rental property. Currently, that is an overestimate, so I decreased the value by $6,000 to match Zillow.com. I changed the value for November so the change isn’t reflected in my net worth statement but it still dropped me $6,000. Next year I’ll use the county assessor’s page instead of Zillow.com.
Credit Cards (The Biggest Loser!): I paid off a $2,200 credit card. The December balance includes $253 of current charges that will be paid off on the due date. $463 is the only interest accruing credit card debt I have and that $463 will be paid off later this month. Woohoo!
Am I on track to reach my 2008 financial goals ? YES. My debt payment plan is ahead of schedule. Although, I will have to change my Net Worth goal from -$9,000 to -$15,000. I’ll most likely have a positive net worth by 2010 instead of the middle of 2009. No biggy, I can’t control the economy but I can control how much debt I pay off. So, although I would love a positive net worth, I need to look at the bigger picture and take note of the things I can control. Reduce debt, Increase assets, spend less than I earn, and the rest will fall into place.
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