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Personal Balance Sheet, April 2007 ($90,496, +2.41%)

This article was written by in Monthly Update. 5 comments.


After a strong net worth increase in March, April ended up a little cooler. Now that I re-combined my “business” assets and liabilities with the rest of my finances, I’m looking at slightly different numbers than last month’s report.

My liquid accounts are down this month by 5.21%, thanks to a hefty tax bill. This year, I’ll be making small quarterly payments which will ease next year’s tax pain. My investments are up 5.97% thanks to contributions and a strong market.

I’ve shrunk the report in two ways. First, to make it fit on the screen better, the report is smaller. Click on the chart, and if you have JavaScript, the full report should pop up. Also, you can use your browser’s controls to open the table in a new window. Continue reading this post for my April balance sheet.

Flexo’s Net Worth Balance Sheet, April 2007

Answers to Frequently Asked Questions.
* The report is made with Intuit Quicken and Microsoft Excel. Here’s a balance sheet Excel template.
* The credit card balance is paid off every month.
* My student loan interest rate is 4.25% and my savings account interest rates range from 4.5% to 5.05%.

Explanations and Details.

In terms of investments this month, I had $1,367 in deposits and $2,300 in unrealized investment gains. The deposits included 401(k) deductions and employer match, regular Roth IRA contributions, and payroll deductions for my stock purchase plan.

Nothing else in the report is out of the ordinary. When I set my 2007 goals at the end of last year, I didn’t predict the month I would pass $100,000 in net worth. I think I will pass the six figure level towards the end of June — if I don’t end up using cash for a down payment on a house by then.

Stay tuned for my income and expense report.

Published or updated May 2, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 5 comments… read them below or add one }

avatar FMF

I guess the rich are getting richer, huh?

Nice gain since the prior year for sure!

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avatar Jonathan C

Making the down payment on a house shouldn’t affect your net worth whatsoever, if you count home equity into your net worth equation. But home-buyers fees might set you back a bit (loan costs, etc.)

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avatar LTD

Have you considered trying to pay down your student loan faster?

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avatar Luke Landes ♦127,485 (Platinum)

LTD: I’ve written about that in prior balance sheets, I guess I should add it to the “frequently asked questions” section. :-)

Yes, I’ve considered it, but I haven’t made a decision. The interest rate is *good*, matching about what I’m earning in savings, and I want to hold onto savings until I make some other decisions about my living situation.

If I pay off my student loan, I wouldn’t have a down payment for a house, and would have to borrow more at a higher rate.

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avatar LTD

I figured you would have already addressed the student load issue at some point. However, I was thinking more along the lines of not using your current savings to pay off the loan, but to start alloting more of your monthly income to paying down the principal.

The method I used in the past for both car payments and student loans was to pay down anywhere from 3 to 12 months worth of principal payments each month. I did this with the use of amortization tables. So if my loan payment was $200/month with $125 going to interest & $75 going to principal, I would pay an additional $225 per month to “advance” me three months in loan payments. That one additional payment would save me $375 in interest ($125 x 3).

Good luck on the condo/renting decision. My weigh in on that topic is that if your quality of life in a condo will be the same as living in an apartment, but will cost you the same (or more with repairs, property taxes, HOA, etc)then renting is not a bad prospect. My personal rent or buy decision was made on wanting more square footage, ambience, and a yard for about the same money. It turned out to be slightly more expensive and kind of a pain-in-the-butt as far as maintenance – but I do feel much more “homey” in my surroundings. FYI – The local real estate market where I live has only been seeing around 3.5% appreciation per year so it wasn’t much of a factor in terms of investment potential.

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