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.
Personal balance sheet and net worth statement
Income and expense report
If you have questions, feel free to post them here.
Updated June 21, 2009 and originally published June 2, 2009. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.