Comments on: Personal Balance Sheet, January 2007 ($75,174, +9.16%) http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Flexo http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-83485 Flexo Tue, 13 Feb 2007 23:55:36 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-83485 According to the numbers above, it lost $1,300 in one year, not $300. I just go by the numbers provided by <a href="http://www.edmunds.com/" rel="nofollow">Edmunds</a>. The numbers they provide seem to fluctuate. I smooth them out over a longer period of time. According to the numbers above, it lost $1,300 in one year, not $300. I just go by the numbers provided by Edmunds. The numbers they provide seem to fluctuate. I smooth them out over a longer period of time.

]]> By: Ed http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-83458 Ed Tue, 13 Feb 2007 17:59:02 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-83458 Your car only depreciated only around $300 in one year? Your car only depreciated only around $300 in one year?

]]> By: jersey jen http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82275 jersey jen Mon, 05 Feb 2007 21:07:20 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82275 simply amazing! simply amazing!

]]> By: Flexo http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82160 Flexo Mon, 05 Feb 2007 04:40:15 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82160 Yes, I'll incorporate the house's value as an asset and the mortgage as a liability. Yes, I’ll incorporate the house’s value as an asset and the mortgage as a liability.

]]> By: Bobby http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82101 Bobby Sun, 04 Feb 2007 19:47:26 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-82101 Congratulations on a great start to '07! Q: When you do purchase your house, do you plan on incorporating it's value in your personal balance sheet? Just wondering as I have heard both sides of the argument from others. Congratulations on a great start to ‘07!

Q: When you do purchase your house, do you plan on incorporating it’s value in your personal balance sheet?

Just wondering as I have heard both sides of the argument from others.

]]> By: Golbguru http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81907 Golbguru Sun, 04 Feb 2007 05:04:05 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81907 That makes sense. Just one more question to follow it up. Wouldn't you knock off a few points on the mortgage rate if your student loan balance is low? (I have no idea whether it weighs much on your credit history). That might translate to long term savings in future (?). That makes sense.

Just one more question to follow it up. Wouldn’t you knock off a few points on the mortgage rate if your student loan balance is low? (I have no idea whether it weighs much on your credit history). That might translate to long term savings in future (?).

]]> By: Flexo http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81724 Flexo Sat, 03 Feb 2007 07:07:50 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81724 Thanks Golbguru, and great question. I've been paying off my student loan slowly for now because the rate is quite low after the tax savings, and I'm making more money by leaving more cash in savings. Back when I discussed my 2007 goals, I mentioned I might speed this up for the psychological advantage of getting rid of the debt sooner... but I'd rather keep as much cash as possible for the eventual down payment on a house. Thanks Golbguru, and great question. I’ve been paying off my student loan slowly for now because the rate is quite low after the tax savings, and I’m making more money by leaving more cash in savings.

Back when I discussed my 2007 goals, I mentioned I might speed this up for the psychological advantage of getting rid of the debt sooner… but I’d rather keep as much cash as possible for the eventual down payment on a house.

]]> By: Saving Advice http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81723 Saving Advice Sat, 03 Feb 2007 07:07:17 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81723 Very nicely done. 9% is what most people shoot for in a year's time. Very nicely done. 9% is what most people shoot for in a year’s time.

]]> By: Golbguru http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81720 Golbguru Sat, 03 Feb 2007 06:58:54 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81720 Congrats on the healthy gain. :) Just one question, you don't seem to be paying off that student loan fast enough; what's up with that? tax breaks and all? Congrats on the healthy gain. :)
Just one question, you don’t seem to be paying off that student loan fast enough; what’s up with that? tax breaks and all?

]]> By: Jorge http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81690 Jorge Sat, 03 Feb 2007 01:44:51 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81690 You should probably have an entry for deferred income tax on the 401(k) balance, and if necessary an entry for deferred capital gains tax on the brokerage assets (I typically use 35% as a reasonable income tax rate and 20% as a reasonable capital gains rate). This is also an issue if you're concerned about asset allocation and you efficiently place certain types of assets (typically bonds and REITs) inside tax-advataged accounts and others in brokerage accounts (typically equities) -- to correct calculate the percentage of wealth in each asset, you'll need to use aftertax values. You should probably have an entry for deferred income tax on the 401(k) balance, and if necessary an entry for deferred capital gains tax on the brokerage assets (I typically use 35% as a reasonable income tax rate and 20% as a reasonable capital gains rate). This is also an issue if you’re concerned about asset allocation and you efficiently place certain types of assets (typically bonds and REITs) inside tax-advataged accounts and others in brokerage accounts (typically equities) — to correct calculate the percentage of wealth in each asset, you’ll need to use aftertax values.

]]> By: Sun http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81576 Sun Fri, 02 Feb 2007 15:05:10 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81576 Congrates, Flexo, for the 9+% gain in one month! Five years isn't a very long period, but the changes are significant. As you said before, keep yourself accountable for every financial decision you made is the key to be successful for everyone. Congrates, Flexo, for the 9+% gain in one month! Five years isn’t a very long period, but the changes are significant. As you said before, keep yourself accountable for every financial decision you made is the key to be successful for everyone.

]]> By: Flexo http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81575 Flexo Fri, 02 Feb 2007 14:55:46 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81575 The credit card gets paid off every month, so it's not really an issue, but thanks! :-) I should probably call that category "Accounts Payable" or something. The amount listed under the Credit Card category is just the 30-to-60-day float. The credit card gets paid off every month, so it’s not really an issue, but thanks! :-)

I should probably call that category “Accounts Payable” or something. The amount listed under the Credit Card category is just the 30-to-60-day float.

]]> By: klerg http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81571 klerg Fri, 02 Feb 2007 14:37:46 +0000 http://www.consumerismcommentary.com/2007/02/02/personal-balance-sheet-january-2007-75174-916/#comment-81571 NICE dent in the C.C. debt my man!!!! NICE dent in the C.C. debt my man!!!!

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