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.