You may have noticed that over the past few days, Consumerism Commentary has been featuring a number of guest authors. A few weeks ago, I wrote about the cost of funerals, inspired by the passing of my paternal grandmother. My maternal grandmother entered hospice care around that same time, and a few days ago, she passed away. I decided to travel to California on short notice to be with my family on the west coast for a short time. I appreciate the assistance with Consumerism Commentary provided by our writers Smithee and Jeff as well as the guest authors.
Every month, I publish personal finance reports to keep myself accountable for my financial decisions, and the travel I mentioned above is the reason August’s report is a little later than it would be otherwise.
2009 continues to be a successful year, but I have some room for improvement. My “modified net worth” includes the balance of all my bank accounts, investment accounts, invoices I have sent out to those I do business with that have not been paid yet, invoices I have received that I have yet to pay, and credit card expenses which I pay off every month. This “modified net worth” is reflected on the bottom line of the first report.
While August’s net worth is up, I expect September’s to be down due mainly to the quarterly tax payment that I will be sending to the IRS. September’s expenses will also reflect the airfare for the flight to California, which was purchased only one day in advance. Most airlines do not offer bereavement rates, or if they do, they are inconsequential discounts off a full fare. I’ll write about this in a future article.
In terms of income, August was a healthy month for my side business, but there is a lot of unexplored opportunity yet to be tapped. With all the projects I am involved in, it’s increasingly difficult to keep track of and manage everything. Additionally, I seem to be getting headaches more often, possibly due to spending too much time in front of computer monitors. At the end of last year, I decided to let the recession play out before deciding whether to leave my full-time job and pursue my side projects full-time. We’ll see how much longer I can continue both aspects of my life.
I’ve also noticed that the automated charitable payments I had been making seem to have stopped, and I’m wondering if that is a result of a change in my credit card number. Once I have a chance, this is something I’ll need to look into.
Continue reading to see my balance sheet and income statement without any further commentary. You can click on the reports to zoom in to full size. If you have reasonable questions, feel free to post them and I will answer.
Personal balance sheet and net worth statement
Income and expense report
If you have any questions, feel free to post them below.