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November 2010 Net Worth

For anyone new to BFS, I post a net worth update at the beginning of every month in order to keep myself motivated and to involve BFS readers. Please feel free to ask questions, make suggestions, or even post your net worths too. I am a participant-motivated blogger, so please jump on in.

I calculate our net worth as listed below. I don’t include the value of our possessions, I round down to the nearest hundred for assets, and I round up to the nearest hundred for liabilities. I also don’t include my husband’s pension account since I’m too lazy to keep up with it and it shouldn’t actually matter until he retires anyway.

Assets
1. Cash – $21,400 ($100 down since we paid $2200 in property taxes, yuck…they ate all of our extra cash this month)
2. Stocks – $18,800 ($300 up)
3. Retirement – $42,500 ($1700 up)
4. Home – $130,000 (same)
5. Cars – $16,000 (same)

Liabilities
1. Home – $68,700 (down $600)

Total Net Worth = $160,000 instead of $157,500
Increase/Decrease = Up $2500 from last month

Property taxes hurt – can I get an “Dang Skippy”?!  Oh well, at least the market did well for us.  🙂

I base the value of our home on two things: comparables selling in our neighborhood and the estimated appraisal by Chase Home Value Estimator. I will always estimate very low.

I base the value of our cars on Kelley Blue Book’s Private Party Value of our vehicles in “Good” condition truncated down to the nearest $1000. For example, if my car is valued at $4600, I’d calculate that as $4000.

Please feel free to visit the archive to see our past net worths. If you really want to see an impressive net worth, check out this High Net Worth Balance Sheet!



FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 a year.  I went self-employed in July 2011 and make between $80,000-$100,000 through blogging, a rental home, and professional pet sitting.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you).  I even have all of my favorite tools on a resource page - I hope they help you too. This all gives me the time to be with my aging family members, the flexibility to stay close with my friends and family, and it should help if we finally get pregnant too!  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
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9 thoughts on “November 2010 Net Worth

  1. Your property taxes were only $100? Mine were $4500 this year. I save all year for my property taxes! I don’t count that savings as part of my net worth- since i belongs to the state at the end of the year. Death and taxes- one can never escape!

  2. @Jan, lol, I wish. We also save for our property taxes throughout the year. They were about $2200 this year, but most of that ended up being covered by leftover cash, hence the $100 hit. I count all of our cash (including savings for something like taxes) since it is technically savings until we use it. For example, we emptied the tax account in July to pay off our last car loan and have just been uber-funding it since then with $500 a month. 🙂

  3. Our property taxes have been going down because our housing market is in the dumpster. So, I actually may have a little surplus in my tax savings account this year.

    Great to see the old net worth is still improving!

  4. @Everyday Tips, yeah, our taxes went down another $100 this year on top of the $300 last year. I’m glad since we barely had enough in the account right now (we emptied it for the car). I thought we would have to wait to pay until the last minute in January. 🙂

  5. @Briana, I know it’s not something that you can just conjure up, but DUAL INCOMES is amazing. We live on one and save the other. It works to live on 1/2 of a single income too of course – it’s just so much harder usually.

    Other than that, prioritize and don’t waste your money on low priority wants. 🙂

  6. My property taxes will hit this month. Savings is most certainly going to take a hit. I get to pay mine in 2 installments, between the cars and the house, works out to be $4500. I feel your pain.

    Net worth for me went up again. Up $2,950 to $33,374. Not quite as good as last month, but then again the market wasn’t up in November.

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