It’s that time again! I like net worth updates and restarted them a couple of months ago. Posting them pushes me to try harder. I also started blogging so I could share with all of you and get feedback.
Net Worth Update – May 2015
Cash (in all checking and savings accounts) – $85,500
Stocks – $17,240
Retirement – $141,450
Home – $290,000
Rental House – $125,000
Cars – $19,600
Home – $198,400
Car – $13,500
Total Net Worth = $466,890
April 2015: $449,100
Total Change: +$17,790
Our increase this month was mainly due to our $13,500 tax refund, pet sitting is staying at nearly $2000-$3000 a month, and the last softball checks are coming in for the reffing season. It’s probably going to be tight for the next few months until football reffing starts in September. We used the tax refund to finish off funding our 2015 Roth IRA’s. And we took a $1750 cruise (tickets, insurance, tips, an excursion, souvenir, and everything).
I under-estimate the value of our property like houses and cars. If I post it, that means that I think I can sell those things at those prices in less than a month. I base my estimates for our real estate off of current home sales prices, deals in my area, and Zillow (which thinks our main home is worth $340,000, which I think is nut balls). Our cars are based off of Kelley Blue Book and what I see on Craigslist.
In the short term, we are working on keeping our expenses low and increasing our income. I’d also love to hit a net worth of $500,000 by the end of 2015, but it’s probably going to depend more on the stock market than on pure savings…
How have you been doing lately? What are your short-term and long-term financial goals?