Looking at about the halfway point for the year and on pace for another good year. Not as stunning as last year’s $250,000 growth, but that was always probably going to be a financial unicorn.
Extended the credit on my HELOC to $100,000 just in case I see a property I want :). I adjusted the value of my current home up due to a new appraisal. I tend to be very conservative in the valuing of real estate. It is not worth that price until you find someone to buy it at that price.
In 2 days I am going on my big vacation. 2 weeks in a row, up North to the cottage. But it is a working vacation. I have been sniffing around some properties and I need to get serious about an offer while I am up there.
The Accounts Receivable in my asset column has taken a sizable setback. You can read all about my Floundering Business Deal here.
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;
JULY Net Worth equals total Assets minus total Liabilities.
Don’t forget to check out my Net Worth Year over Year.
Total Assets: $2,149,625 up + $ 16,344 from last month.
Accounts receivable, This is a 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; $404,105 down – $ 1,623 from last month.
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
HELOC; Current APR 3.49%
TOTAL JULY NET WORTH $1,745,520
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.