Monthly Net Worth Statement

Not a bad start to 2009. I increased my income this month with some side work and a retention bonus from my full time job. I used that to pay off more than the minimum payments for my 6 credit cards. My car did depreciate a tiny bit, but I do like my NetWorthIQ details – an increase of 103% in net worth. That’s probably not sustainable, but I’ll take it as long as I can get it.

I did stop contributing to my 401(k) and IRA after I received my end of year company match distribution. I know I am missing out on my company match, but from the way things are looking, I don’t think we’ll make it until the distribution to my account in March. Besides, the equity market won’t see a bull market until the end of 2010, so I’d be parking the 401(k) in a CD any way. I really want to attack my credit card debt, so I want every penny in my arsenal. Literally, I have my next full coin jar to cash in with Coinstar sitting in the car.

I suggest you start your own NetWorthIQ account. It takes me just 30 minutes a month to keep track of my finances and I have a full-time job, 2 side businesses to run, rental property, and this blog. I also use Flexo’s method of net worth tracking. Check out his monthly statements here.