July 2011 Personal Net Worth

Time for a net worth update. This is the second month I’m doing this so we’ll get to see a few changes, and that’s what it’s all about: tracking your movement over time. Well, the financial markets played heavy on our bottom line in July. All retirement investing accounts were down, and even a big reduction in credit card debt (i.e. spending) wasn’t enough to counter the effects.

Checking (-71%) – On July 31st, my transfer from business funds hadn’t quite hit the account. Thus, personal checking funds are short of their normal levels. The major outflow of this checking account was the $5K credit card bill from June.

Credit Card (-38%) – Even though we traveled a ton in July, our credit card account saw less spending than in June. This is a good sign. But I’d like to see it drop by another 20% for August. If you’re new, you should know that we pay off this credit card debt in full each month to avoid interest charges and living outside of our means.

Retirement Accounts (-3%) – Across all retirement accounts we saw an average of 3% drop. We’re invested for the long-haul, so these little fluctuations aren’t anything that we worry about. I’m bullish on the American business (aka stocks) for the long-term.

Other notes: I won’t be updating the vehicle blue book value but once each year. The house value I get from zillow.com. The mortgage didn’t change because we just closed on our refinance and we haven’t received out first bill yet, nor our refund from the old mortgage company.

Next month I’d like to see 5K more in checking, 5K more in our emergency fund, $700 more in our property tax fund, and like I said above, less credit card usage.

Last Edited: August 2, 2011 @ 5:21 pm The content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, FinCon CEO, and husband and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.


  1. My accounts would have been down as well, if I hadn’t happened to contribute just about the same amount as they dropped. So they stayed even for July, but I think August is going to be a different story!

  2. If you pay off your credit card each month why even include it? It seems like you are trying to combine a net worth statement with a spending guide. Your Credit Card balance didn’t drop 38% it was always zero.

    • That’s exactly why I’m including it. I want to have to explain my spending fluctuations. I’d rather not do two full statements (balance sheet and income statement), so this is the way I’m choosing to do it.

      • I still don’t get it, your net worth isn’t 229K it is really 232K, because the Credit card is paid off already. Unless you have the 3K still sitting in your checking account (and you can’t cause you only have 2200 in your checking account) you are double counting the liability.

        • It’s not paid off already though. Here’s what I do..At the end of the month, when I’m preparing this spreadsheet, I go look at my credit card account. I pull my latest statement, which in this case was my 7/22 statement, which contains spending from 6/22 to 7/21. This bill isn’t due until 8/18. So, the $3,124 is what I will have to pay by the 18th. It’s a true liability at this point. My checking account doesn’t yet reflect my business income transfer by 7/31, so that’s why it’s short. In a normal month, I will have made the transfer by 7/31 and all would be good. It’s just a matter of when I take the snapshot.