PoP Balance Sheet – December 2013

Welcome to our December 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!

Not too much action on the balance sheet this month.  (But catch the year end reflections at the end of the post for the big action.)  The biggest excitement was that we both maxed out our 401Ks this month.  (This was the first year we both did this!)  While mine was maxed on my 12/15 paycheck, Mr PoP maxed his out with the last withdrawal from his paycheck on 12/31.  That felt like it was cutting it a bit close so I’m going to try and front load those a bit more next year.

This is also the last net worth update that’s going to have this graphing format since I feel like it’s not really giving us a ton of actionable information the way it did when we had more real estate and car debt.  I’ve got some ideas, but if you have a graph that you’d like to see our numbers on, feel free to make a suggestion!

But for the month of December:

  • Our total assets went up by $8.6K
  • Our total liabilities went up by $0.6K – just a function of credit card due dates…
  • Net worth rose by $8.0K
  • Total net worth as of the end of December is $624.4K, which represents a 1.3% 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.


Stock Accounts

  • 401K accounts: $156.5
  • Roth IRA accounts: $127.4
  • HSA account: $4.6
  • Non-Retirement Stock Accounts: $0.6
  • Total Stock Accounts: $289.1

Real Estate (based on current market comparable sales)

  • Primary Residence $215
  • Investment Duplex: $97 – time for an update on this… I’ll update it next month
  • Investment Residential Land: $80
  • Total Real Estate: $392.0

Cars (values from Kelly Blue Book)

  • Car 1: $7.4
  • Car 2: $9.7
  • Total Cars: $17.1 

Cash Holdings

  • Checking Accounts: $12.7
  • Savings/Money Market Accounts: $15.8
  • Total Cash Holdings: $28.5

Total Assets: $726.7


Real Estate Loans

  • Primary Mortgage: $98.9
  • HELOC on Investment Duplex: $0.0 (re-advanceable)
  • Personal Loan – Used to Purchase $50K Duplex: $0.0  
  • Total Real Estate Related Loans: $98.9

Revolving Credit

  • Credit Card Balance: $3.4 – high, but will clearly be paid in full…
  • Total Revolving Credit: $3.4 

Total Liabilities: $102.3

Net Worth = Assets – Liabilities

Net Worth = $ 624.4K, up 1.3% from November, and up $207.1K, which is 49.6% from December 2012


Closing the Books on 2013

Looking back on this past year, the net worth growth that we’ve had feels astounding.  I don’t know if we’ll ever see a year with this kind of overall growth rate again, especially as increasing the rate gets more and more difficult as our starting balance grows.  So what contributed to this growth?

Assets Grew By $140.3K (23.9%)

  • $45K of this was increases in real estate values, and this is actually a bit of an underestimate as we need to update our duplex value next month
  • $107.8K of asset growth was found in the balances of our stock accounts, $47.5K of which was directed savings ($35K to 401Ks, $10K to Roth IRAs, and $2.5K to Mr PoP’s HSA), and the other $60.3K was market gains and employer matching funds

Liabilities Shrunk By $66.8K (39.5%)

  • $50K of this was paying off the family loan we used to buy our duplex, $5.5K to finish paying off the HELOC, and then another $7K was paying off the car loan


How’s everyone else’s balance sheet looking this month?  This year?

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