Medicated Money

Saturday, September 02, 2006

Net Worth - August 2006

We knew that this month we were going to take a serious hit in our Net Worth. With our move across the country, we decided to stop our debt repayment schedule and just pay minimal amounts. We also decided to tap into our emergency fund to help pay for the move. Even with these financial moves, we still took a serious beating to our net worth. We were hoping to not lose too much ground; hoping to maybe stay where we were at. After completing the calculations this afternoon, it looks like we lost roughly about 1 good month’s progress. Here are the numbers:

As you can see, we had a nearly 9% negative loss in the month of August. Granted, if you remove the moving expenses that are a one and done expense, we actually had a positive net worth of 2%. Unfortunately, we have to be fair to ourselves, and we wanted to include this to get the whole picture, even if it meant, taking a negative hit!

We only paid $1,000.69 towards our debt repayment plan. We have been averaging closer to $4,000/month. We hope we can get back on track in the month of September with vengeance.

As occurred in the month of July, negative change in the Work Retirement– Wife account is due to a recent inquiry which resulted in a wrong amount being calculated. The value now is the correct amount.

The negative change in the Student Loan #1 as well as 0% credit card are due to up-to-date statements instead of just using Quicken software. The 0% credit card also was affected thanks to Bank of America.