I'm late posting my Net Worth report which should have come out August 1st. I updated NetworthIQ on time so if you were paying attention then you'll see the information is the same.
To explain some of the results... I had a net increase for the month.
Here is the single bright spot from the month, I continued to invest diligently in my retirement accounts. I also continued to spend large amounts of money on stuff via my credit cards. I justified the purchases a dozen different ways, and put off doing this post for a couple of weeks out of frustration and shame at how bad I overspent.
A run down of the spending is entirely centered around the house. We got a patio set for the newly fenced yard, a refrigerator for the garage, a used Ping Pong table, and a huge 40 gallon tank / stand for my turtle. The purchases were spurred on by my wife and I hosting our friends for our annual house party. We wanted to get the place into tip-top shape and be prepared for almost 20 of our closest friends to come visit.
Enough explanation and excuses; here's the damage:
| Assets |
| $ Diff | % Diff |
| Cash | $2,519 | $2,168 | 617.66% |
| Stocks | $0 | $0 | - |
| Bonds | $0 | $0 | - |
| Annuities | $0 | $0 | - |
| Retirement | $20,282 | $310 | 1.55 % |
| Home | $194,900 | $0 | - |
| Other Real Estate | $0 | $0 | - |
| Cars | $14,720 | $0 | - |
| Personal Property | $0 | $0 | - |
| Other | $0 | $0 | - |
| Total Assets | $232,421 | $2,478 | 1.08 % |
| Debts |
| $ Diff | % Diff |
| Home Mortgage(s) | $176,526 | ($181) | -0.10 % |
| Other Mortgage(s) | $0 | $0 | - |
| Student Loans | $0 | $0 | - |
| Credit Card | $12,704 | $1,938 | 18.00 % |
| Car Loans | $8,926 | ($356) | -3.84 % |
| Other | $1,334 | ($58) | -4.17 % |
| Total Debts | $199,490 | $1,343 | 0.68 % |
| Total | $32,931 | $1,135 | 3.57% |
For a quick mid-month August update, we are doing much better and seem to be more on track this month. Overall it is likely that our debt will decrease at least $500 for the month and assets will likely grow by about $1000. We also managed to pay my wife's tuition in cash this month too. Not a perfect month, but certainly not the embarrassing showing from July.
Thanks for reading. Check back again soon for updates on my path to wealth.
