Summer is flying by, here we find ourselves already into August.
Well our vacation was 14 days of the best weather we have every had Up North. But the boat broke down 11 minutes into day one. You take the good with the bad.
I sent my oldest off to Summer Camp for a week. I loved Camp growing up, outdoor fun and new environments. The best part was that Camp Counselors are college kids and listen to way better music than the bubble gum pop you listened to at that age.
We decided on a soft pass for buying a small business this summer. The number I had in mind was too low for a respectable offer. We shall see if they are still on the market next year!
Dear Wife got another raise, so there will likely be a new ‘Current Paychecks’ update fairly soon. I am all set to release my next Guest Post (5th one) in about 2 weeks, I will keep you updated.
I am to going to FinCon18 this year, tickets are bought. (flight for free!) This will be my first time. I am looking forward to meeting some of you in person.
I will be the handsome, albeit bald, gent wearing a fashionable T-shirt with this pic;
August Net Worth equals total Assets minus total Liabilities.
Don’t forget to check out my Net Worth Year over Year.
Total Assets: $2,174,660 up + $ 25,032 from last month.
Accounts receivable, This is a floundering business deal from 2014
Boat & Cars, Depreciating assets, but cars newish in 2015
Real Estate 2nd home/vacation rental
Retirement accounts; 2 people, 2 jobs each, 4 accounts total
Brokerage accounts; 2 taxable stock accounts
College Funds; Prepaid tuition and 529 accounts or 2 kids
Bonds; ‘I bonds’ bought through Treasury Direct
Cash & Metals; 5 accounts and a security deposit box
Health Savings Acct., Started in 2015
Total Liabilities; $402,516 down – $ 1,589 from last month.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Student Loan Paid off!
HELOC; Current APR 3.49%
TOTAL AUGUST NET WORTH $1,772,144
Tracking your own net worth is perhaps the second most important thing you can do to improve your financial picture. Budgeting your expenses to see where the money goes is probably still number one.
Budgeting is like paying attention to ball game while tracking net worth is like paying attention to the baseball season.
Months can goes up or down, you need a longer picture to evaluate your progress. You are either bringing in more money than you’re spending or you are losing money each month. Tracking Net Worth is easy, useful, and addictive.