July 2011 Net Worth Update–Great Month Edition

//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?

By | 2013-09-26T14:59:05+00:00 July 1st, 2011|Personal Situation|23 Comments

About the Author:

Evan is the owner of My Journey to Millions which was started to track his journey from a broke debt ridden law school graduate to building a positive balance. Need more Evan? Follow him on Twitter, Contact him or get new posts directly to your email

23 Comments

  1. 20 and Engaged July 1, 2011 at 1:30 am - Reply

    Congratulations! Looks like June was an excellent month for you 🙂

    • Evan July 1, 2011 at 9:23 am - Reply

      It was fun, but busy!

  2. John Border July 1, 2011 at 6:01 am - Reply

    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.

    • Evan July 1, 2011 at 9:24 am - Reply

      Good luck – the Yakezie is an amazing group if you need help navigating the waters let me know

  3. Sass July 1, 2011 at 7:54 am - Reply

    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!

    • Evan July 1, 2011 at 9:24 am - Reply

      That’s amazing – what kind of debt repayment are you following? How many CCs do you have?

      • Sass July 1, 2011 at 6:28 pm - Reply

        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!

  4. Kevin July 1, 2011 at 8:48 am - Reply

    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!

    • Evan July 1, 2011 at 9:27 am - Reply

      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.

  5. Krantcents July 1, 2011 at 10:57 am - Reply

    Congratulations! Keep up the momentum.

  6. Suba July 1, 2011 at 11:26 am - Reply

    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 🙂

    • Evan July 3, 2011 at 11:51 am - Reply

      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

  7. Sunil July 1, 2011 at 4:27 pm - Reply

    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

    • Evan July 3, 2011 at 11:56 am - Reply

      I haven’t talked to my partner about sharing details about the online ventures but maybe I will.

  8. Kay Lynn July 1, 2011 at 9:48 pm - Reply

    Congratulations on a successful June. I know there will be many more great months for you.

    • Evan July 3, 2011 at 11:57 am - Reply

      Thanks!

  9. JoeTaxpayer July 1, 2011 at 11:17 pm - Reply

    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.

    • Evan July 3, 2011 at 12:17 pm - Reply

      I know this type of growth is unsustainable, but I am loving it for right now!

  10. Ravi Gutpa July 2, 2011 at 10:20 pm - Reply

    Wow! Nice work especially on the page rank! Keep up the good work and keep on hoarding 🙂

    • Evan July 3, 2011 at 12:19 pm - Reply

      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.

  11. Mysti July 7, 2011 at 5:55 pm - Reply

    I bask in your glory, oh Financial Wise One.

    So…why do you want liquidity in the next 6 months???

    • Mysti July 7, 2011 at 5:57 pm - Reply

      Nevermind….you want to buy a new house….I am slow on the up take.

      • Evan July 18, 2011 at 3:07 pm - Reply

        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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