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Personal Balance Sheet, April 2006 ($49,835, +6.79%)

This article was written by in Monthly Update. 4 comments.

My net worth as of April 30, 2006 is $49,835. I’m so close to $50,000, I can smell it. Here are the details.
Net Worth, April 2006

My savings account balances look like they held steady, but there was a bit of movement. Of the $10,000 or so in savings, $4,000 is earmarked as my emergency fund. That balance goes up and down too frequently. In April, I used money from that account to pay my state tax bill and to help me out at the beginning of the month when my bills are due.

I’m not managing my savings well; when I’m paid, I probably transfer too much to my other savings accounts, earmarked for vacation and relocation spending. I have to stop the habit, lay off the emergency funds, and start replenishing the account. My Roth IRA contributions can be accessed in an emergency without penalty, so I could tap that account if necessary, but I’d rather not.

My relocation fund is at $1,300 right now. I haven’t tapped that account since November 2004, when I must have been running short somewhere else. At that time, I pulled out $2,500, almost the entire account. I deposit $55 into this account every two weeks, and I plan to use it to help pay for my imminent move to another apartment, though I’d rather be saving for a down payment for a house.

The decrease in my Business account will be explained below.

At the end of April, my checking account was higher than usual, as I just received a paycheck and two refund checks from the University of Phoenix. One of the refund checks has already been applied to my student loan (in May), but I haven’t set up the transfer for the second yet.

My investments are creeping along. Even with 6% of my gross salary being transferred into my 401(k), and with my company matching 4% of my salary, my 401(k) is barely inching up to the $25,000 mark. I also started my SEP IRA this month. That contribution came from the Business account, which explains that decrease.

There’s nothing special to report regarding my credit card accounts. I pay the balance off every month so I never have to deal with interest charges or late fees. The end of the month balance doesn’t really explain much about my spending habits. I’ll have to look at my income/expense report to analyze that.

Updated January 16, 2018 and originally published May 3, 2006.

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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 .

{ 4 comments… read them below or add one }

avatar 1 Anonymous

Nearly a 7% increase, good stuff buddy.

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avatar 2 Anonymous

Well done on nearing in on $50k. Nice site too, very well done. Can I ask what tool you use for your balance sheet?

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avatar 3 Luke Landes

Thanks for the comment. I use Quicken to track my finances and export my balance sheet to Excel which formats it in a way I can compare between months. I then copy the Excel table into a graphics program and save the table as a GIF file.

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avatar 4 Anonymous

Well, if you get a measley 4.5% annual return, overall, you will hit your $50K in a month, without any contributions. That is a nice mark to attain.

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