Welcome to our August 2013 Balance Sheet!
We use the structure of a monthly income statement and balance sheet in tandem to make sure we are keeping our expenses low and planting our pennies wisely. If you’re not already tracking your finances using these two methods, go to mint.com and get started today! If you have any questions about how we do this just post a comment and we’ll be sure to help!
We eeked out a modest net worth increase in August, mostly due to increasing our temporary cash savings account.
The stock market was down in August, but we managed to barely eek out positive action in our stock holdings by putting more in through our 401K deposits than we lost in the market. But that’s what Mr PoP has been hoping for!
In totality, it was a pretty boring month on our balance sheet. Sorry for the lack of entertainment value =)
So for the month of August:
- Our total assets went up by $2.7K
- Our total liabilities went down by $2.3K
- Net worth rose by about $5.0K
- Total net worth as of the end of July is $569.1K, which represents a 0.8% increase this month.
And for the details…
Why do we look at our assets and liabilities split up this way? For us, it’s an easy way to look across all the different categories of assets and see which ones we have equity in, and how much equity. If the Assets bar is taller than the Liabilities bar, that’s equity in that asset class.
- 401K accounts: $131.3
- Roth IRA accounts: $113.7
- Non-Retirement Stock Accounts: $0.6
- Total Stock Accounts: $245.6
Real Estate (based on current market comparable sales)
- Primary Residence $215
- Investment Duplex: $97
- Investment Residential Land: $80
- Total Real Estate: $392.0
Cars (values from Kelly Blue Book)
- Car 1: $8.2
- Car 2: $11.3
- Total Cars: $19.5
- Checking Accounts: $9.8
- Savings/Money Market Accounts: $4.0
- Total Cash Holdings: $13.8
Total Assets: $670.9
Real Estate Loans
- Primary Mortgage: $100.9
- HELOC on Investment Duplex: $0.0
- Personal Loan – Used to Purchase $50K Duplex: $0.0 Paid off! Woohoo!
- Total Real Estate Related Loans: $100.9
- Credit Card Balance: $0.9
- Total Revolving Credit: $0.9
Total Liabilities: $101.8
Net Worth = Assets – Liabilities
Net Worth = $569.1, up 0.9% from July
Anyone have an exciting month on their balance sheet? I’m feeling the need to live vicariously through someone else’s balance sheet excitement this month. =)