Thanks to more cash on hand and some investment growth, in May I came precariously close to a personal milestone: a six-figure net worth. This may not be that significant to most people; in fact, I’m not quite sure there is any significance for me. The actual number isn’t as important as what I’m doing to get myself there.
Last month, I predicted I would pass this milestone at the end of June. I should pass it within a week.
I still struggle with spending in some categories, but tracking my net worth helps me stay more focused than I would be otherwise. While there is only questionable value for any readers, making everything public keeps me accountable.
Here are the latest balance sheet figures. The numbers are hard to read unless you click on the image below.
Answers to Frequently Asked Questions.
* The report is made with Intuit Quicken and Microsoft Excel. Here’s a balance sheet Excel template.
* The credit card balance is paid off every month.
* My student loan interest rate is 4.25% and my savings account interest rates range from 4.5% to 5.05%. I’m not rushing to pay off the student loan so I can have cash on hand to eventually make a down payment on a house, and the rate is decent.
Explanations and Details.
Cash and bank accounts were up 14.77%. I transferred a couple of thousand dollars into checking from savings to take care of fees associated with my new apartment, such as application fee, holding fee, and eventually a security deposit.
I invested $1,677 into my accounts, including my 401(k) contributions and employer match, Roth IRA contributions, and employer contributions into my company stock purchase plan (though these funds just go into a holding account and are invested at the end of the quarter). In addition to my contributions, my investments gained $1,581 thanks to market appreciation.
My company stock plan balance has gone down because I withdraw what has accumulated each quarter. The amount listed reflects April’s and May’s contributions, sitting in a holding account before they will be invested at the end of June.
My credit card balance is low this month. I don’t believe I had many out of the ordinary purchases. If I had, they would be listed on my income and expense report, which will be posted shortly.
Published or updated June 4, 2007.