July 28, 2008

July 2008 Net Worth Update (+$5,309.10)

As I had hoped, July was a great turnaround month for our net worth. It increased $5,309.10, to $38,773.44. That's a 15.86% increase from last month (click on spreadsheet below).

What worked:
The biggest impact in July came from my wife's huge $4,427.74 commission check from her old job. In addition, my wife began her new better paying job and I received a third "extra" paycheck. All of these funds allowed us to increase our cash and savings balance to $10,299.08, even after withdrawing $1,079.86 from savings to pay down Car 1 in anticipation of selling it (the deal feel thru).

What did not work:
Once again, our retirement accounts were down from the previous month. We contributed a total of $606.50 to our retirement accounts this month, but still saw our retirement account totals reduced by $684.62 over the previous month.

Next month:
Next month, my wife's 6% 401(k) contribution (and 25% company match) should kick in. She also will receive a third "extra" check, allowing us to boost our savings even more. God willing, we hope to sell my truck next month since it is not being used.


louise said...

wow! thats a really good improvement considering the retirement account decrease. I like the way you track your net worth, it's simple and easy to read, I might have to start doing it monthly.

1MansMoney said...

Thank you. I borrowed the net worth table layout from 2million's Personal Finance Blog.