Welcome to our March 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!
Assets rocked the house as we had some stock market growth, as well as some real estate appreciation on our primary residence that we booked.
Liabilities are pretty stable, and are going to be like that for a while as the next liability we’re attacking is the $50K loan from Mr. PoP’s parents that we used to buy our duplex. We’d like to pay them in lump sums that correspond to when our semi-annual interest payments are due. In the meantime, we’re hoarding cash like squirrels shoving acorns in their cheeks and might feel like we’re about to explode by the time the next payment is due. But that’s off topic….
For the month of March:
- Our total assets went up ~$25.9K, about 60% of that boost ($16K) was due to booking the appreciation on our primary residence. I went through how we calculated the original value we posted on this site in the Determining A Home’s Value Series ages ago. Do you guys want to see the updated calcs, or is it not worthwhile to post? I’m never sure how much of my RE numbers obsession people actually like to read… FWIW, this updated value is still pretty conservative.
- Our total liabilities dropped by ~$0.5K. This is how it’s going to be for a while as we save up to pay Mr. PoP’s parents back in a big lump sum. Goal date for first (only?) lump sum payment – August 1 2013.
- Net worth rose by about $26.3K this month.
- Total net worth as of the end of February is $481.2K, which represents a 5.8% 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: $108.2
- Roth IRA accounts: $110.3 – dropped $10K in for our 2012 contributions…
- Non-Retirement Stock Accounts: $0.6
- Total Stock Accounts: $219.1
Real Estate (based on current market comparable sales)
- Primary Residence $186 – upward trend started in the fall, but I didn’t book it until it continued into the spring…
- Investment Duplex: $97
- Investment Residential Land: $80
- Total Real Estate: $363.0
Cars (values from Kelly Blue Book)
- Car 1: $8.7
- Car 2: $11.6
- Total Cars: $20.3
- Checking Accounts: $10.1
- Savings/Money Market Accounts: $23.0 – our 2012 Roth IRA contributions came out of here which is why it looks lighter…
- Total Cash Holdings: $33.1
Total Assets: $635.5
Real Estate Loans
- Primary Mortgage: $103.5
- HELOC on Investment Duplex: $0.0
- Personal Loan – Used to Purchase $50K Duplex: $50.0
- Total Real Estate Related Loans: $153.5
- Car 1: $0.0
- Car 2: $0.0
- Total Car Loans: $0.0 – Thinking of removing this as a category, but it’ll stay for one more month because the zeros makes me smile…
- Credit Card Balance: $0.8
- Total Revolving Credit: $0.8