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Balance Sheet and Income Statement, November 2005

This article was written by in Monthly Update. 3 comments.

It’s that time again. Time to own up to the facts and share my detailed financial position with the world. Continue reading this post to see if this has been a good month or a not-quite-as-good month. First my net worth, then my income and expenses.

Things are moving forward, although the progress is slow. The accuracy of my “cash” account is likely a little off. As you can see, I started the year with no cash on hand (it’s easier to start from a blank slate), but I certainly don’t have $200+ in my wallet. What happens here is that there are some cash expenses that escape my notice. An error of $250 over the course of the year isn’t so bad.

My savings have increased, but so has credit card debt. I pay that off every month, so it’s not an issue. I’ve been holding off on my car loan payments (which I have the flexibility to do) as I’m preparing to pay for my bed this month. (I didn’t accrue for this.)

Strangely once again, the value of my 2004 Honda Civic increased in price according to When I check the value again and I find the number has gone down, I’ll normalize the value for November to help the depreciation make sense.

Now let’s look at my income and expenses.

Nothing out of the ordinary. Some income from quasi-volunteering and overtime at my day job helped boost things a little during November. That dividend income was automatically reinvested.

Here you see the negative depreciation reflected in the Auto expense category. It was a slow month for groceries, which may explain why I feel thinner. Actually, with one week spent in California, most of my expenses for that week were covered by family… there was always food in the house and I didn’t go out partying.

The medical expense is the remainder of my oral surgery that was not paid for by my insurance (Aetna).

December will likely be not as fortunate a month. I’ll be taking the expense for the bed this month as well as making sure my girlfriend is happy for the holidays. Overtime should come in handy in that regard, although that same overtime means less time with her. Working — a double-edged sword.

Any questions?

Updated February 6, 2012 and originally published December 1, 2005.

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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 .

avatar 1 Anonymous

How long does it take to keep your budget up to date? What software do you use? Looks like you do a good job of keep track of your expenses.

avatar 2 Luke Landes

I use Quicken 2006, having switched from Microsoft Money 2003 at the beginning of the year. I probably enter my daily expenses three times a week or so, sometimes less, which means my cash expenses are not always as accurate. (My memory isn’t always good; it’s been recommended I take Gingko or something.)

The monthly update takes a little bit more time… When I do the monthly reviews I go over the entire month and make sure everything makes sense and then export the data into Excel to create the reports. I’ve got it down to a reasonably quick routine…

There are ways I could be more accurate, like categorizing items on grocery receipts. That’s why my pet expense is so low… usually I get cat food and litter when I go shopping, but the entire receipt gets dumped into the groceries category. I don’t think the extra time it would take is worth it for that level of detail.

avatar 3 Anonymous

Since I am more of a visual person, I entered the net worth percent changes for the past three months (when available) of personal finance bloggers and created the following graph: