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Personal Balance Sheet, November 2006 ($67,377, +5.54%)

This article was written by in Monthly Update. 9 comments.


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.

November Balance Sheet

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.

The balance in my credit card account is paid off at the end of every month, but November’s balance is higher thanks to car repairs and a trip to California.

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.

Updated March 21, 2011 and originally published December 4, 2006. 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 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 Luke Landes and follow him on Twitter. View all articles by .

{ 9 comments… read them below or add one }

avatar Golbguru

The entire 12K under “business” is from website income ?! That’s something. Also, the business income is showing a rising trend since October, were you specifically doing something for that?..or just a whole lot of AdSense clicks.

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avatar Card Guy

Good job again! Are you considering to move more cash-like balance to investment? I’m not sure if it makes sense to keep the “business” income intact … one dollar is one dollar and it is unnecessary to assign a special use of a dollar just because how it is earned.

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avatar Dus10

What all do you do for UPromise? I have been a member for nearly three years, and my balance is only $60; I have not withdrawn any funds, to date. Granted, I only use the grocery loyalty cards, and I have my wife’s parents doing the same and contributing to us. I did have SBC contributing $2/month, but they stopped contributing to UPromise, all together, two months after I finally got them in the program.

I am thinking of asking random people at the store for their loyalty cards to jot down the number, and then I would just open a UPromise account and have those funds contribute to mine.

I am planning on buying a new washer and dryer combo in the year, or so, and the models I was already eying are some front-loading Whirpools, and they contribute a nice chunk to UPromise. Also, I am refinancing my mortgage on 01FEB07, so if there is a mortgage company that contributes to UPromise, and can still meet my terms, then I will go with them.

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avatar John

Very nice. 77% over the previous year. You’re making some big strides, and they’re getting bigger.

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avatar Luke Landes ♦127,535 (Platinum)

GolbGuru: The business income is mostly, but not completely, from this website. AdSense isn’t the biggest portion anymore. The main increase is from programs like LinkWorth. There’s more info in my November income statement.

CardGuy: At the end of the year, I plan to re-evaluate my emergency fund to make sure I have three months of cash reserves earmarked for emergencies. My choices for the rest of the business income including paying off student loan debt and saving for a house. I haven’t made a decision yet. I’ve already started using money here and there to supplement my cash flow. So the income/expense report better indicates how the business is doing than the balance sheet.

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avatar Luke Landes ♦127,535 (Platinum)

Dus10: A while ago, I used the uPromise MasterCard which contributed 1% of every purchase to the uPromise account, but I’ve since switched to the Citi Dividend Platinum Rewards Card. Basically, the only thing contributing to my uPromise account is the purchase of some grocery items. At the most, it’s $1 per shopping trip.

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avatar John

eh, I think you should quit your job soon, probably impeding your progress.

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avatar Luke Landes ♦127,535 (Platinum)

I’m not quite ready to give up the day job. We’ll have to see how things progress over the next year, at the least. I just can’t give up the “cheap” health insurance yet.

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avatar saving advice

Congratulations on another $2000+ month from the blog. It’s wonderful that you have been able to keep it up and there seems to still be quite a bit of potential as the credit card offers would indicate.

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