Here’s my latest balance sheet, a listing of the end-of-month balances for my bank and investment accounts with a few assets and liabilities. This is used to calculate my net worth each month. Any month in which I’ve come out ahead of the previous month I consider a success, and November was good. Continue reading for the numbers and some explanations.
I’m a little concerned that my non-business cash on hand drops each month. I’ve been trying very hard not to take money from my “side income,” but with my 401(k) contribution at 12% of my low day job salary, I think I’ll have to adjust my philosophy. The $381 in my checking account is prior to my Roth IRA deposit and a car insurance payment; I am already left with not enough in the account to pay my heating bill.
My personal accounts receivable includes a check to be deposited and my Upromise balance. I keep that in accounts receivable because I request a check every so often rather than deposit money into the suggested 529 education investment fund.
My informal goal for 2006 was to hit a net worth of $60,000. I blew past the amount thanks mostly to income from websites. I’ve been toying with $70,000 for the end of the year, but with the gifts I’ll be buying for the holidays, I probably won’t make it. I will begin thinking of a target for 2007.
Stay tuned for my income and expense report.