November 2011 Personal Net Worth

Alright you net worth update junkies. Here it is. Time for another look behind the scenes at our finances.

Before we dig in, let me say that these last 5 months of updates has been great. The updates are spawning conversations with several readers and also helping Mrs. PT and I to zero-in on some of our financial goals. If you don’t review this stuff on a routine basis, you start to lose your intensity for better finances. With that, here are the numbers from November:

Key bullet points from this update:

  • Property tax fund is fully funded. I’ll write the check before the end of the year.
  • We started a down payment fund using funds transferred from the business account. Our goal is to have $60K by March 2012.
  • Grandparents gave us some extra funds for the girls’ 529 plans. Thanks, Mom and Dad!
  • We also started a third 529 plan for future kid or for our own future education needs. Mrs. PT wasn’t big on this presumptuous move, but I couldn’t pass up the $50 bonus from CollegeAdvantage.com.
  • Credit card spending* was down. Second lowest spending month in the previous six. Nice work.
  • So that’s it. I’m going to keep this one short and sweet, and let you ask questions or add on some suggestions.

    *Paid off in full each month at the end of the cycle.

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Last Edited: December 2, 2011 @ 1:16 pm
About Philip Taylor

Philip Taylor, aka "PT", is a husband and father of two. 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.

Comments

  1. If you are counting the property tax as an asset don’t you have to offset it with the liability? If not you are going to have 5K swings (2.5% on 500K) swings?

    Regardless awesome work going on in the pT household. What state are you in? Do you get a deduction on the 529 contributions?

    • Philip Taylor says:

      @MJTM Oh, good point about the liability. I’ll have to think about how I want to do that next year. Thanks. I’m in Texas. No state tax. Thus, no advantage to have the 529 here. We actually have it with Ohio’s top rated plan.