It’s that time again! I like net worth updates and restarted them a few 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 – July 2015
Cash (in all checking and savings accounts) – $83,500
Stocks – $16,940
Retirement – $138,750
Home – $290,000
Rental House – $125,000
Cars – $18,660
Home – $197,700
Car – $12,880
Total Net Worth = $462,270
June 2015: $470,375
Total Change: -$8105
Our huge decrease this month was mainly the $4500 that we sent in for estimated quarterly taxes plus a hit in stocks both for now and in our retirement accounts. It didn’t help that we also had a stagnant month for income that didn’t help cover the losses. I’m not too worried though since we still have healthy padding, pet sitting is staying strong, our online business is still chugging along, and life is generally good.
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 and deals in my area, not Zillow (which thinks our main home is worth $325,000, 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?