PoP Balance Sheet – February 2013

Welcome to our February 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!

No bonuses or commission checks this month, but we still managed to have a pretty good showing on the balance sheet by living off one income while the other continues to pay off debt and accumulate as savings.

  • Our total assets went up ~$1.9K, most of that was in deposits into our 401Ks from last month’s paychecks which didn’t hit until the beginning of February.  The markets were largely flat, and we’re still waiting for a couple more sales to close in our neighborhood before updating the market value on our house.
  • Our total liabilities dropped by ~$7.8K, and we said goodbye to another loan.  “Bye-bye car loan!”
  • Net worth rose by about $9.7K this month.  
  • Total net worth as of the end of February is $454.9K, which represents a 2.2% increase this month.  

And for the details…

dyerware.com


dyerware.com


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.

Assets

Stock Accounts

  • 401K accounts: $104.2
  • Roth IRA accounts: $97.5
  • Non-Retirement Stock Accounts: $0.6
  • Total Stock Accounts: $202.3

Real Estate (based on current market comparable sales)

  • Primary Residence $170
  • Investment Duplex: $97
  • Investment Residential Land: $80
  • Total Real Estate: $347.0

Cars (values from Kelly Blue Book)

  • Car 1: $8.7
  • Car 2: $11.6
  • Total Cars: $20.3

Cash Holdings

  • Checking Accounts: $10.5
  • Savings/Money Market Accounts: $29.5 – Right now the $2.2 we have set aside to pay off our $50K loan is in here.  I think we’ll start to track that as a separate line item next month.
  • Total Cash Holdings: $40.0

Total Assets: $609.6

Liabilities

Real Estate Loans

  • Primary Mortgage: $104.0
  • HELOC on Investment Duplex: $0.0
  • Personal Loan – Used to Purchase $50K Duplex: $50.0
  • Total Real Estate Related Loans: $154.0

Car Loans

  • Car 1: $0.0
  • Car 2: $0.0 – note the car loan is dead, like we mentioned on this month’s Income Statement
  • Total Car Loans: $0.0

Revolving Credit

  • Credit Card Balance: $0.7
  • Total Revolving Credit: $0.7

Total Liabilities: $154.7

Net Worth = Assets – Liabilities

Net Worth = $454.9, up 2.2% from January!

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