My net worth as of May 31, 2006 is $49,510. I did pass $50,000 for some time this month, but despite my income being significantly higher than my expenses, I ended the month a little behind April. Continue for the numbers.
My cash accounts are lower than last month mainly because I paid off more of my student loans with reimbursement funds from my employer. Investments were the sad story of the month. While I put money into my 401(k) and Roth IRAm all I have to show for it right now is more shares at lower prices.
On the liabilities side, my credit card saw purchases of two bicycles. One was a gift for my girlfriend and the other was a gift for myself. Along with the bicycles, I purchased helmets and other basic bicycling accountrements. (That is to say, I didn’t go overboard.)
More details will follow soon in my personal income statement for May.
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Hey CC,
No worries. Good for you for paying off more if your student loans. Its the nature of building networth that it will fluctuate from time to time.
Best,
James
You’ve probably got another two to five thousand in other assets — like that bike you just aquired. For many people on the planet, their household cooking pot (yes pot, not pots) is a major family asset.
Incidentally, you might underline for others at your stage of life that it is better to pay off the credit card debt than the student loan debt. There is no ‘investment’ available to anyone that is any better than retiring credit card debt.