Every month, consistently for the past few years, I take the opportunity at the beginning of the month to develop financial reports. The first report I post every month outlines my “modified” net worth, basically a balance sheet including my bank accounts, investments, the approximate value of my car, and my credit cards. Following the net worth report, I publish an income and expense report. This includes details about the income I earned during the month as well as my discretionary and non-discretionary expenses during the same period of time.
After my net worth decreased last month, mainly due to a large tax payment and poor market performance, my net worth is back up 6.3% for the month of May. Income, on the other hand, is significantly down this month, more in line with my expectations moving forward.
Keep reading this article to see my May financial reports. I will not give further commentary, but I will answer any reasonable questions. [click to continue…]
Each month I open my personal copy of Quicken Home & Business to the public. This tradition was the original impetus for creating Consumerism Commentary in 2003. At that time, at the age of 27, I was about one year into managing my own finances. Prior to that, my own money was mostly something I ignored. That was not a successful approach, so I made the decision to switch gears.
Since then, I have been posting my net worth statement here, keeping myself accountable for my decisions. More recently, I expanded this voyeuristic exhibitionism to include a report listing my income and expenses. The two reports help provide a fuller picture of my finances.
April was not a bad month for my finances in general, but my net worth decreased this month. The biggest driver for the decrease was the check I wrote to the IRS. A large tax bill means I’ve been doing something right on the income side of the equation. Speaking of income, I saw an expected decrease this month. I also expect a bigger decrease for May. Keep reading for my balance sheet and income statement. I’ve included thumbnails in the post, and you can click on the images to zoom in. [click to continue…]
If you have been following Consumerism Commentary, you might be aware that I publish a monthly report of my financial well-being, and I have been doing so since 2003. Here is my latest balance sheet, whose bottom line represents my “modified net worth.” That number has increased in March by 12%.
Rather than provide all the commentary as I have done in the past, from now on I plan on posting the reports without additional commentary. I will be happy to answer questions or take suggestions, however.
Continue reading for the reports. Thumbnails are included in the post below. Click on the images to see larger versions of the reports. [click to continue…]
Did you read my February balance sheet? This article contains my personal income statement, which goes hand-in-hand with the balance sheet. These two reports provide a relatively complete accounting of my financial standing and progress.
February was short, but good for a number of reasons. Setting personal records, my gross income and net income for the month were higher than any other month I’ve experienced. This was thanks mostly to the biggest month in terms of visitors to Consumerism Commentary since I created this website in 2003. It seems to be an anomaly; I expect traffic to return to normal, but it’s quite possible to see similar surges again this year. I don’t count on it, however.
I don’t generally like to write about blogging on Consumerism Commentary. I write about personal finance, not about blogging. On the bottom line in February, I managed to save over $22,000. Please keep in mind this is a theoretical amount; it depends on me receiving checks. There is still some income I recorded last year that I have not yet received. Keep reading this article for the numbers and explanations. [click to continue…]
Over the course of February, my “modified net worth” grew 7.5% despite yet another unremarkable month for the stock market. As of the end of the month, my bottom line — a variation of net worth — surpassed $200,000, but was still below my original goal for December 31, 2008.
Every month, I post several personal finance reports on Consumerism Commentary to help keep myself accountable for my financial decisions. It’s a tradition that dates back to July 2003, when my net worth was about $13,000. This was just a few months after my net worth surpassed $0 for the first time.
Take a look at the numbers first, then read some of the following explanatory remarks. You can click on the graphic to view a larger version of the report. [click to continue…]
This post contains my monthly income and expense report. If you haven’t viewed my January balance sheet, read that first. I review these reports on a monthly basis, though I may soon move to quarterly, to ensure my finances are staying on track and I’m making sound decisions with my money.
Many years ago, I worked for a non-profit organization and spent more money getting to work than I was earning. Eventually, spending more than I was earning presented financial problems, magnified when I lost my job, my apartment, and my girlfriend. Since then, I’ve been working to be more responsible with my personal finances. Not soon after, I started Consumerism Commentary to keep myself accountable in front of an imaginary audience. Now the audience is much less imaginary.
January was a good month in terms of income and expenses. If the rest of the year is like January, even if I experience no income growth, I will be in good shape. Of course, I would like to see growth, particularly in my business income. On the bottom line, I managed to save $10,923 this month, or 68% of my income. Keep reading to see the full report. Click on the thumbnail for a larger version of the report. [click to continue…]
2009 started off well. Since December 31, my “modified net worth” has increased 2.4% despite a sickly stock market, presenting a January bottom line of $188,566.
It’s not only a tradition for me to publish my monthly financial reports, this transparency is the original purpose of Consumerism Commentary. People post about their lives online for a variety of reasons. One reason is to hold themselves accountable for the decisions they make. By sharing my net worth, I’m exposing my financial decisions to the public, just like a public company submits quarterly and annual reports to the SEC. Even before Consumerism Commentary had readers, posting my numbers forces me to analyze my position and think about what I need to do in order to reach the next level or achieve another goal.
There is no intent to brag. In fact, although I’ve been lucky thanks to the popularity of Consumerism Commentary itself and the income it has presented, I do not have much to brag about. My financial condition, without income from my side business, would be much more dire. I apologize to anyone who finds these reports discouraging. I try to look at it from a different point of view; if I can succeed moderately, anyone (and many) can far surpass my meager accomplishments as of today.
Let’s get to the numbers first, and following the net worth report (balance sheet), I’ll discuss the details. Continue reading and click on the thumbnail to zoom in on the table. [click to continue…]
On Saturday I posted my final balance sheet for 2008 and wrote about my progress this past year. Each month, I take a look at my income and expenses as well to get a fuller picture of my finances. This post contains my income and expense report.
December continues to be one of the most expensive months of the year. Continue reading for the details. For the end of the year, I included some yearly totals going back several years. To zoom in, click on the thumbnail version of the table. [click to continue…]
Email this article
Print this article
