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Personal Balance Sheet, September 2010 ($427,529, +11.5%)

This article was written by in Monthly Update. 15 comments.

September was a typical month. I didn’t have many out-of-the-ordinary expenses. I bought some new camera equipment, with the biggest expense being a used lens for my Mamiya RZ67. I did a good job negotiating the price, too. I was able to get Adorama in New York to beat’s price for the same lens in the same condition.

This month I also purchased airline tickets to visit my family in southern California for Thanksgiving. The flight costs less money than I can remember paying for the same trip in other years. A quick look through Quicken shows that 2007 was the most recent year I paid less for a flight to California for Thanksgiving.

It was a successful month in terms of income. The only complaint I could possibly have is that is has been taking a long time for some clients to pay. In a perfect world, all advertisers would pay within 30 days. Google about 25 days after the end of the month, but it’s not uncommon for other advertisers to take 45 days or more. One particular company still owes Consumerism Commentary money from March, and it’s been frustrating trying to resolve the issue. For the most part, however, payments are predictable.

October will be a busy month. In addition to working nine-to-five for a job at a large corporation, spending almost all of the remainder of my waking life managing Consumerism Commentary and writing for a number of publications, I’ll be trying my hand at more professional photography. The plan is to take some marketing photography for an audio production company.

Every month I post my net worth report to track my progress. Continue reading to see the report.

You can click on the image above to get a full-size report. If you have any thoughts or comments, feel free to leave them here. In a few days, I’ll post a quarterly review of my investments.

Published or updated October 2, 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 .

{ 15 comments… read them below or add one }

avatar 1 Anonymous

Is there a place where we can download a template for this spreadsheet? I’ve been trying to get a handle on my budget also, and have been using Quicken to enter in all my old transactions. I’ve been putting stuff in from 2006 and going forward, as I find the receipts. Still no where near a clear financial picture, though I’m probably about 40% through all the paperwork. Am I wasting my time looking so deep in the past?

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avatar 2 Luke Landes

I have an Excel template based on my balance sheet that you can download here. The way I use it is I run a report in Quicken, export to an Excel-compatible format, and link the data to a spreadsheet like this.

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avatar 3 Anonymous

Very candid, organized, and informative. I find when you monitor, and pay attention, goals are much easier to reach ie money goals, weight goals, lifestyle etc. I also appreciate the transparancy of your thinking! Thanks.

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avatar 4 Anonymous

Well done Flexo! $44,000 monthly increase is a huge effort. Just doing the simple math, by this time next year (12 months), you will hit the $1 million net worth!

Keep it up!

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avatar 5 Luke Landes

Oh, if it were only that simple! A good portion of the increase was simply due to me not touching my investments. That may be up $19,000 this month but down $25,000 next month. And while an increasing “accounts receivable” is good, cash in the bank is much, much better. :-)

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avatar 6 Financial Samurai

Ah yes, perhaps best not to extrapolate $44,000 a year every month for 12 months. Let’s take out the $19,000 from the $44,000, that’s still $25,000! Hence, 24 months and you’ll have an extra $600,000 and you’ll break the $1 mill!

I’m looking forward to some Peter Lugers if so!

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avatar 7 Financial Samurai

Just thought of a question. How do you view Account Receivables growing? On the one hand, it’s good that the Asset is growing, but on the other hand, does it not mean that customers are taking longer to pay you? What would you say your average AR days is?

Going from 34K to 47K month over month, you would basically calculate the gain as the difference between the two, or 13K right? It’s not like every month is a new 34K from 0, and 47K from zero, as AR is an ongoing thing.


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avatar 8 Luke Landes

Most clients pay within the expected time. I’ve had trouble with only one or two over the past few years, but nothing that isn’t manageable (with some knee-breaking). A/R is never zero. The balance sheet is just a snapshot on the last day of every month, and that falls on a different part of a pay cycle for each client. I’m happy for the part of the increase in A/R due to more income, sad for the part of the increase due to waiting for payments. Just like any business.

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avatar 9 Anonymous

What are you doing about the long outstanding accounts receivable? You don’t want it to age too much and lose your ability to collect the full amount. I just hate to see someone get stiffed.

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avatar 10 Anonymous

Flexo. I understand you are invested mainly in index funds. The S&P was up 8.7% for the month but your investment account is up 11.4% and your retirement account is up 9.8%. Does that increase include fresh money added to the accounts?

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avatar 11 Luke Landes

The numbers above are simply the account balances, so it does include investment inflows. Look for my portfolio performance report tomorrow which will include each account’s internet rate of return, the real test of investment performance.

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avatar 12 moneyfunk

haha. I bet I know what company. I’ve been waiting for a payment since May. ;)
Your monthly Net Worth always amazes me. *envious* wish mine would increase that dramatically.

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avatar 13 eric

All I can say is you’re a busy man, Flexo! :D

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avatar 14 Anonymous

Damn it dude! Those are FANTASTIC gains. Congrats.

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avatar 15 The Latter-day Saver

Any plans for all that CASH? Nice job, btw.

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