This past month was a pretty good month for Evan’s household. I received my tax refund and my side businesses really took off towards the end of the month. I will fully admit that this month my partner rocked it out – most months we are about even on revenue but in May he killed me…I am hoping to show him what’s up in June. I am pretty proud of the fact that in addition to growing my investable assets I have paid off approximately $10,000 of debt (and not CC Debt either I don’t have any of that).
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:
- My Cash Savings Accounts
- My 401(k)
- Wife’s Roth IRA
- My Small but Awesome Perpetual Income Machine
- Value of my House
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 May 2, 2011 to June 1, 2011 my net worth has increased 8.69%
- From January 18, 2011 to June 1,2011 my net worth has increased 33.36%
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!
The plan is pretty simple going forward:
- Keep hoarding cash
- Slowly build investable assets
- After the Car Note is complete I am going to 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?