July 2011 Net Worth Update–Great Month Edition

July 2011 Net Worth Update–Great Month Edition

Usually I combine my net worth updates with some sort small complaint I have, but June was an amazing month for me both personally and financially.  In June 2011:

  • My son was Baptized
  • The Wife turned 31
  • The Wife and I had our 3 year anniversary
  • Paid off my Auto Loan (one of my objectives for the year)
  • I “found” an old IRA that I have recaptured into my financial world
  • Had a record monetary month for My Journey to Millions
  • My Journey to Millions was upgraded to a page rank of 5
  • Had a record monetary month for my side online businesses

July 2011 Net Worth Update

Early this year, I started a system of tracking my net worth where I calculated my net worth and zero it out so I could share with everyone my ups and downs.  So far I have only had ups this year.

The assets I include are:

I keep putting found in quotations because it wasn’t until I was forced to change my brokers that I even learned the password to this account.

The liabilities I include are:

What is missing?

  • Credit Card debt – Don’t have any except a revolving AMEX account so no reason to put it up
  • Checking Accounts – Always changing and moving kept low on purpose so no reason to track it
  • Cars – I have no idea why people count cars as an asset.  Its transportation not an asset.
  • Jewelry – I joke that The Wife’s hand is worth more than my car…but there is NO way anything is being pawned/sold so why list it as an asset?

My Net Worth Update

  • From June 1, 2011 to July 1, 2011 my net worth has increased 6.51%
  • From January 18, 2011 to July 1,2011 my net worth has increased 42.04%

Last Month I wrote:

If everything goes to plan, within the next six weeks I’ll be able to fully eradicate the auto loan (it was at about $8,000 in January of 2011) so that will feel great!

Its gone!  So right now, my plan is pretty simple:

  1. Keep hoarding cash
  2. Slowly build investable assets
  3. I am slow down debt repayment since liquidity is much more important to me in the next 6 months or so.

How was your month? Do you have an update?

23 Responses to July 2011 Net Worth Update–Great Month Edition

  1. Congrats on a great June month and also on the Page rank 5.
    I have also joined the Yakezie challenge and hope to interact with all of you.
    Another goal is to make my posts better from a readability perspective.

  2. Congratulations! That is fantastic! I finally paid off credit card #1 last night and its made me feel like doing the happy dance ever since!

      • I am now down to 1 — but its a whopper — almost $10,000! I’d like to have it paid off by this time next year when the Princess goes off to college and therefore I can then put that hideous payment towards tuition instead of stuff I already did!

  3. Wow! I’m surprised your June net worth didn’t go up more based on all the awesome things that happened for you this month.

    Congratulations on building your online income!

    • I actually agree you – I thought the same exact same thing actually, so I dug around the numbers. It was because I had such a big jump (8%+) last month from my tax return.

      But then I got excited again when I saw 42% gain year to date.

  4. Congrats! Looks like a great month. I have to do my mid year review this weekend but from my 401k I will be happy if I have not gone down in NW :)

    • It kills me when I know I am making gains in my net worth but then the 401K drags me down…just have to keep reminding myself that account is 35 years int he making lol

  5. congrats Evan – paying off anything feels great, especially a big one like your car.

    be interested in hearing about your other online businesses and their contributions

  6. I reminisce on the days when my net worth could grow at such a pace.
    We are on the back end of things, 6-10 years from retiring. Our savings is now 12X our current income. So, savings plays a far smaller roll in our success each year. A 10% market gain is about 120% of a year’s income gained in the retirement account. So the difference if we save 15% or 20% is pretty pointless. In a year the market drops even 5%, all the savings won’t put us in the black.
    ’98 and ’99 were two years that each had 150%+ returns for us. I hope you get too see such returns before you outgrow the ability to do so.

    • Thanks! Hoarding cash is priority is Number 1! I am hoping to be able to put down 30%+ on the next home so the payments stay the same.

      • Financial Wise one? NO WAY! Just a guy trying to make it in today’s world.

        I think I have been saying for 2 years that we are going to start thinking about moving, and we finally put a date when the house will go up…After the New Year. We are going to be jerks about it knowing that we won’t take less than X and if it takes us 6 months to sell it takes 6 months to sell.

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