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Personal Balance Sheet, December 2006 ($70,108, +4.19%)

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

Thanks to dividends paid to me in my 401(k), I broke past $70,000 to close out the year at $70,108! I know that among 30-year-old financial bloggers like myself, that may not be an impressive number. Considering most of my adult life I was making less than the cost of working, I’m satisfied so far. That isn’t to say I can’t improve in all aspects of saving, investing, and spending; in fact, take a look at my goals for 2007 which specify where I plan on improving over the next year.

This month, I’m separating my business assets from the rest. I haven’t yet separated business liabilities (expenses paid on cash-back credit card) as they’re commingled with the rest of my finances. I plan on getting a business credit card this year which will make that easier. Here are the numbers! (Explanations are below.)

December 2006 Net Worth

My personal cash and bank accounts increase every month thanks to the extra income my side business provides. At this point, I am spending more than I make from my day job. I used to rely on overtime to cover the difference, but in the position I started earlier this year, no overtime is available. Now I rely on my side income. One of my goals for this year is to cut back on my food expenses, which is probably the biggest contributor to this issue.

I need to look at the value I’ve assigned to my car. I haven’t updated the price through in a few months. I used to do this on a monthly basis, but I’m not sure it’s worth the extra work to do so. I’ll adjust it a few times a year.

My credit card balance this month is mostly the new computer I purchased to replace my “old and busted” notebook. I don’t worry about interest rates as this balance gets paid in full every month.

This was a good end to 2007. The table above now shows three years of history, dating back to December 2003. I’ve made good progress so far. I’m looking forward to what I hope are many more good years of double-digit net worth increases.

Stay tuned for my income and expense report, coming soon.

Updated January 8, 2018 and originally published January 2, 2007.

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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 1 Anonymous

It’s very refreshing to see a four-year view in one table. Good job!

I don’t think you need to focus on cutting food expenses … yes you can cut $700 a year if you reach your goal, but it should be easier to make $700 by being creative in your side business.

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avatar 2 Anonymous


I was just wondering if you offer a copy of your Personal Balance Sheet or if you know of anyplace where you can find them online? Please email me so I don’t have to keep checking back, (although I do really, really, appreciate the transparency of your site)



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avatar 3 Luke Landes

Hey Brad: I put together some template. Here’s the balance sheet and here’s the income and expense statement.

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avatar 4 Anonymous

is it a mistake that your net worth 71709 in the top but 70108 here?

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avatar 5 Luke Landes

Dan: The number on the top right corner of the website changes more frequently… I update it a few times a month, so it doesn’t always reflect the same as the net worth at the end of the prior month.

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avatar 6 Anonymous

Flexo – under Business Assets – you have a Savings line item – is that a savings account that you keep business cash in? If so what kind of account is it – does it have a decent yield?

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avatar 7 Anonymous

Flexo – Your 2004 balance sheet does not add up correctly. The net worth number looks right, but your total assets are inflated because your business assets are not adding up correctly. It repeats the same $23,341.22 from the investments line item above.

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avatar 8 Luke Landes

David: Thanks for noticing that. I’ll fix it tonight. My total business assets from 2004 should be $0.

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avatar 9 Anonymous

Flexo – Nice stuff here! I’ve been following since I stumbled upon your site about three months ago.
I’ve been keeping a personal balance sheet for a few years and was wondering if you had any interest in it as it could show your readers the impact of different life situations. For instance, I am married, own a house, and live in midwest Ohio. Let me know, might be interesting.

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