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.


2 comments:

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.

-1MansMoney