Monday, July 21, 2008

Net Worth June 2008

I guess it's about time I did that monthly recap! It'll be a quickie this time...

My net worth at the end of June was $364,487, down 2.8% from the previous month.

The decline is totally due to the abysmal state of the stock market, as I actually saved a little money this month! When totaling up my expenses, I was worried that I must have forgotten to pay something because they seemed quite low. But no mistakes: I was good about food expenses (came in $100 under budget) and in most other categories, it was just kind of a quiet month for spending, I guess.

I also took a look at my spending for the first half of the year-- unfortunately, that picture is not as rosy. I've had some big expenses, including a new computer and a major vacation trip. I'm about $10,000 over budget! Some of this is just timing, and I know I'll catch up in the 2nd half of the year, but still, I am not taking this lightly! We'll see how the rest of the year goes... onward and upward, I hope!


Anonymous said...

What is your reasoning behind not disclosing your home value, mortgage balance?

With the mortgage crisis many people are left with a mortgage balance that is higher than the value of their home.

Other investments there is a risk and possible your investment can lose value and you have to sell at a lose, yet home owners have been helped by the government to avoid foreclosures. I have the smallest amount of sympothy because home buying is something everyone wants and not nessesarily as an investment so it's a shame when people lose on a home.

Curious to your situtation and why you're posting a skewed networth by excluding home/mortgage.

RacerX said...

Thought you budgeted for you trip and Computer?

I am sure that you will make it up!

Andrea said...

When are you revealing where your trip is to? I am excited to know where you are going!

JanePlain said...

it's so inspiring to see how you keep yourself on track, even when you get off-track :D

love your blog, btw!

Ryan @ Smarter Wealth said...

@ anonymous
I personally would never show online the state of my home and mortgage, for privacy purposes.
Not giving it does not screw his net worth because net worth is just total assets minus total liabilities.
The question in hand here is "Does your home really count as an asset".

Great post and well done with your net worth. Hope it keeps going well for you.

modena604 said...

don't you hate it when you go over budget! especially when you are such a good planner of your money.
i am sure you'll find ways to save more and recover and get back on track. =)

Doctor S said...

The stock market is sticking it to all of us.

Where is the vacation?

I guess this is why "Budgeting" is such a dynamic idea in itself, we all struggle with it but those who are truely committed to it look for ways to make it work. I am learning at a very slow pace! Good luck next month!

Anonymous said...

@ Ryan @ Smarter Wealth

Hardly disclosing your home value and mortgage balance is the same as releasing your personal identity. It would be rather difficult identify her based on the info revealed here and the value of her home and remaining mortgage balance. That being said, I respect her decision to withhold certain information as she discloses enough about her personal life. I just asked the reasoning behind leaving out this information.

Lastly, the post is titled 'June Net Worth' - The information is on a website names 'networthIQ', therefore not including home value and mortgage balance would skew her networth (assets - liabilities.

Madame X said...

@ anonymous 5:12pm, I do show an accurate net worth. My net worth includes my home value (x) minus my mortgage balance (y), which equals my home equity. (z) So x-y=z.
Rather than specify what x and y are amongst my other assets and liabilities, I just include z-- either way, the net result is the same.

Anonymous said...

makes sense, now I understand. Home value is value minus mortgage balance. Thanks for explaining.