February 27, 2012

February 2012 Net Worth Update (-1,556.74)

February was another month of heavy spending, resulting in a drop in our net worth of $1,556.74 from last month, to a total of $158,302.36 (click on spreadsheet below).

What Worked

We contributed a total of $1,434.26 our retirement accounts, and saw them increase $3,061.88 to $48,947.37 total. Our savings account also increased from $1,830.39 to $2,608.15. Our first mortgage payment went through reducing our mortgage debt by $589.21.

CORRECTION: Our first mortgage payment was for our March bill and should not have been included in our February numbers. I will correct the spreadsheet before posting our March Net Worth Update.

What Didn’t Work

In February, we did something we haven’t done in a LONG time: we went into credit card debt. We ended the month owing $7,065.02 to a zero percent interest card (0% for 15 months) to buy more furniture/house stuff. We have roughly $3,000 more in furniture/house stuff that we need to buy and then we’re done. I promise.

Next Month

March will get us one step closer to getting back on track, but we’ll still be spending more than saving.


Anonymous said...

How do you value your cars? Do you use Kelly Blue Book value or something else? I typically don't include my car in my net worth calucation, although it is 7 1/2 years old.

1MansMoney said...

I check KBB once a year and then depreciate the vehicle 1% per month. Since we used cash from savings to pay it off, I wanted to track it on our balance sheet.

Anonymous said...

You need to fix what ever is going wrong in your change column. Your Assets are not 386237.40+ for the month. I know you wish it!

What tv's did you buy? Did you cancel your GYM membership?

How are those sleepless nights?

1MansMoney said...


Great catch. I obviously rushed our net worth post a little too much this time around. I appreciate the feedback and will fix the sheet for next month.

We bought a 60" Sharp Aquos LED (amazing TV BTW) and a 42" LG LCD. Yes, I cancelled my gym membership, but we made a room in our new home to a gym.

Thankfully, our baby is sleeping though the night now. That's not to say that we're not totally exhausted most of the time:)

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