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Personal Balance Sheet, June 2010 ($340,741, -1.1%)

This article was written by in Monthly Update. 28 comments.

July will mark the seventh anniversary of Consumerism Commentary. These seven years I’ve been tracking my finances online to keep myself accountable for my financial decisions. In 2003, there was no such thing as a “personal finance blog community;” this arose out of the desire of a few of us to track our finances in a blog format and discuss money issues. There was certainly a lot of discussion of money on the internet at that time, but very little had the personal touch of a blog.

At the beginning of each month, I share my account balances as of the last day of the prior month, so today I am publishing my June 2010 net worth report. This balance sheet includes a modified version of a net worth, and this is the same way I’ve been tracking my finances online for many years.

And for the sixteenth time since January 1, 2002, the earliest data I have in Quicken, my monthly progress has been negative. This is a fact I can attribute, this time, solely to the stock market. As I invest more of my funds in the stock market, currently only through automatic investments in my 401(k), my monthly progress is increasingly driven by the market as a whole.

Continue reading for my current net worth report.

Unfortunately, June 2010 marked another low point in terms of income from sources outside of my day job. This is despite additional efforts to boost income from a variety of sources. There are a few ways I can interpret this. Rather than look for improvements within the first several months of a new approach, some of the work may pay off down the road. I could view this as validation of my continuing decision to put off leaving my day job, or I could interpret this lack of progress as validation of the need to spend more hours each day building projects.

For now, I’m taking everything one step at a time.

For anyone wondering about how I create these reports, I track all of my expenses in Quicken, though I’ve been unfaithful tracking expenses paid with cash. Cash transactions amount to very little since I use cash back credit cards for just about everything. I run a customized report after I finish entering my income and expenses and export that report to a file that can be imported into Excel. I use an Excel template that formats the data nicely, and I copy that chart into Photoshop. I export the table as a graphic and upload it to my website.

Feel free to ask any questions.

Published or updated July 6, 2010.

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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 .

{ 10 comments… read them below or add one }

avatar 1 Anonymous

Thanks for the tips on how to export your sheet to get it to your site. I have been meaning to get the actual excel sheet published clearly.

Doing a Net Worth on a monthly basis is the best way to gain perspective on where you are. You obviously are continuing to do something right. Love seeing that Honda Civic as an asset!

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avatar 2 Anonymous

Congratulations, Flexo! The traditional seventh anniversary gifts are “copper and wool.” I will begin knitting little penny sweaters tonight. ;-)

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avatar 3 Anonymous

Looks great! I’m pretty new to following your blog, what do you do outside of your regular day job to create extra revenue? Blog?

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avatar 4 Luke Landes

Blogging/writing, yes, and other web projects.

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avatar 5 Anonymous

That is cool that you can make a bit of a profit off your personal finance passion.

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avatar 6 Luke Landes

Thanks, Donna! That’ll keep my coins warm, though in today’s 100+° heat, they may want to remain naked.

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avatar 7 Anonymous

I got mildly excited when the income from Monevator started to grow earlier this year (from pitifully low levels!) then it just plateaued. At least it doesn’t go hugely backwards.

You’ve got a much more substantial flow though (I seem to remember you talking about ‘multiples’ of day job income?). That’s absolutely marvellous – I’d have to love my job to stay in such circumstances.

Maybe if you’re risk averse but fed up with the day job, you could get a new day job which might pay a little less but be less intense, allowing you to ease over more into the online work?

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avatar 8 Anonymous

I wouldn’t get too discouraged with one and two month blips, Flexo. Overall, it looks like you are doing quite well! :-)

I would be careful about being over exposed to the stock market right now – or you may see a longer string of negative months. Although there are opportunities out there, at a macroeconomic level, I see no real longer-term upside to the markets in general – especially in 2011 when the Bush tax cuts expire.

My $0.02

Len Penzo dot Com

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avatar 9 Anonymous

Good stuff Flexo. Interesting datapoint for June, although given your income is so what are your thoughts on a realistic plateau? Everything is relative as they say. Most of us would love to earn more than $5,000/month online.

Is the sky no longer the limit? What is the barrier level you feel that you are stuck on? $10,000/month?

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avatar 10 Luke Landes

I don’t publicly list my income numbers anymore, on advisement by my tax accountant, other sensible people, and if I had any, lawyers. :-)

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