Most Recent Update – April 2013
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!
Like we mentioned here, it was a bit turtle-like (rather than hare-like) with the savings this month, though asset growth was helped along by a nice late surge in the market at the end of April.
Liabilities are pretty stable – decreasing by just the principal portion of the mortgage payment (~$500). It’ll be like this until August 1, when we are pretty sure we’re going to be able to make a nice lump sum and pay back Mr. PoP’s parents the entirety of the $50K loan for our duplex.
For the month of April:
- Our total assets went up ~$12.1K - Mr. Market you’re so crazy sometimes!
- Our total liabilities dropped by ~$0.5K. Puts that monthly mortgage payment in perspective when only about $500 is going to principal, huh?
- Net worth rose by about $12.5K this month.
- Total net worth as of the end of April is $493.7K, which represents a 2.6% 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.
Monthly Financial Statements Historically
- April 2013 – Balance Sheet, Income Statement
- March 2013 – Balance Sheet, Income Statement
- February 2013 - Balance Sheet, Income Statement
- January 2013 - Balance Sheet, Income Statement
- December 2012 – Balance Sheet, Income Statement
- November 2012 – Balance Sheet, Income Statement
- October 2012- Balance Sheet, Income Statement
- September 2012 – Balance Sheet, Income Statement
- August 2012 – Balance Sheet, Income Statement
- July 2012 - Balance Sheet, Income Statement
- June 2012 - Balance Sheet, Income Statement