Category — Net Worth

Happy New Year, readers! I hope all of you have a better new year than 2009. Well, it looks like 2009 ends on an high note with a modest increase in my net worth.

My home value rose once again. There are quite a few more listings in my development, with actually one 3-bedroom listing under contract this month. Let’s hope this momentum grows. My gas fireplace is still not working and due to my unemployed sister being too cold, she ran the forced air heat 24×7 (with a utility bill to match), so it finally quit on her and started blowing out cold air. I had to let it rest and then reset the whole thing to start the warm air, but the lights are saying I need emergency maintenance. Good luck finding that on New Year’s weekend.

My retirement funds are growing nicely. Mostly due to the company match and profit sharing. My Ford stock purchase in my Roth IRA are also doing very well with a 10% return for the month.

My Kelley Blue Book car value rose a tiny bit, I guess to make up for the mysterious drop last month. No major maintenance costs, just an oil change and a free air filter change that I got from Pep Boys after a poor job they did last month with my slow leaking tire.

My full time job is stable, although while I’ve been off the past 2 weeks forced to use vacation days I’ve racked up, there looks like a lot of work is stacking up for me when I return. No eBay sales as I closed my store, but I did post some old laptops just to reduce some clutter. My sister is still without job. What else can I say? No interviews until after the holiday season’s over.

I just missed hitting $70k on my credit card balance. Oh well, there’s always next month. Just kidding. To supplement my income, I went to Atlantic City again and did OK, winning just under $400. Not bad considering it was pretty dead all week with only one $2/5 table playing the same 9 guys, but Christmas Day was a madhouse. I also made money betting on college football. It’s only gambling if you don’t have an edge. Let’s hope 2010 is a good one for us all.

Hi all. Happy Holidays! I was too depressed to post my monthly net worth statement last month. Sorry to disappoint the “tens” of readers out there. My net worth hasn’t changed much from last month. The rise in my home value offset an increase in credit card spending.

Well, I hit my 2009 goal of $20,000 in contributions, employer match, and profit sharing to my 401(k). My CD had matured in my IRA, so I bought into a longer term CD which matures in 2012, right before the Mayan calendar predicts the end of the world. I bought shares in Ford Motors with the rest of it. I figure if there’s going to be one US car company left, Ford has the best shot. I am prohibited from purchasing most of the financial stocks due to SEC regs at my workplace, so that was a bummer.

My Zillow home value rose for the third consecutive month. No sales yet in my development, but there are two listings now in my development with really high asking prices, almost pre-bubble prices. Wishful thinking I suppose. No maintenance costs this month, but my gas fireplace stopped working two days ago, so I need to decide on repairs or just blocking it off with thick mil plastic for the winter. The wind just cuts right through the vent.

My Kelly Blue Book value for my car dropped just a little, but no maintenance costs, so I am happy. I did need to fill the same tire up with air as last month, so it may have a slow leak. Pep Boys really is losing my trust and loyalty after they told me they couldn’t find a problem with it on my last visit.

My full-time job is stable, but I had to move desks because our intern, who is now a full-time consultant has ADHD and keeps tapping his feet, hands, pens, and whatever else to annoy the sh!t out of me. I had some work from my part-time gig, but no accounts receivable until December. I finally closed my eBay store as it had no sales again. I am contemplating dissolving my corporation. My unemployed sister did not get a callback from that interview I mentioned in my October post. She just turned down an interview with Chase Bank because it was too far. I just stared blankly ahead as she tried to rationalize her decision. All I could see was more money being sucked out into space.

My credit card balance shot up by over 5%. This was a combination of more dental costs, my vacation in December (which has now been cancelled), and emergencies. Yeah, I lost quite a bit cancelling my house rental and plane tickets. I only lost $5 on my rental car reservation. All in all, having a relationship is not worth the trouble. Spending $250 an hour on a “friend” once or twice a month is much more rewarding and stress-free.

My cash reserves took a beating, but should recover nicely as I went to Atlantic City on Thanksgiving weekend and cleaned up at the poker tables. I have yet to deposit it, so it is not reflected in this month’s statement. I’m going back down on the last 2 weeks of December, so I hope it is a Merry Christmas for me. Enjoy your Holidays as well! See ya next year.

No double bottom on my net worth, but there’s always next month.  My Zillow home value rose again, but still no sales in my development. There was an additional listing added for a 3-bedroom, but the Open House held last Sunday was pretty empty. Since I could see the house from my window, I didn’t even bother going inside to glance at the sign-in sheet. No maintenance costs this month, but the stink bugs are back with a vengeance, so I may need to spray some insecticide again.

Once again, Kelley Blue Book is either wacko or my SUV is really popular on the secondary market. Its value rose almost 17% from last month. I had an oil change, but no out of the ordinary maintenance costs. My eBay store sales have plummetted. In fact, I closed my monthly books in less than 3 minutes. I had 2 sales with a net loss of around $100, but a loss is a loss. I also dropped from Silver Powerseller to Bronze Powerseller. That just rubs salt on the wound.

My full-time job is stable, but I’m being sent over to our Chicago office on a hush-hush assignment. Something to do with closing half the office and rearranging the staff. I won’t know the details until I arrive. So much for things looking up. No new work at my part-time gig. My unemployed sister received a callback from one recruiter for a job an hour and a half away. If she gets it, it means she moves out with her boyfriend and 2 cats and I gain my sanity once again. I lose the small pittance in rent money, but it’s well worth the right to walk around in my boxers on the weekend.

My credit card balances shrank a tiny bit, but my cash reserves are nearly gone. I booked my first vacation in 8 years! Yeah, yeah, I can just see you rolling your eyes at me, but I am going to snap if I don’t get away for a while. No boss yelling at me, no sleeping on an inflatable mattress, no squatter sister, just spending Christmas through New Year’s with my girlfriend in a rented house with a heated pool. I haven’t gone swimming in 18 years. To offset this expenditure, I’ve been eating a lot of ramen noodles and cereal. I hope I make it. My dentist split up my appointments, so while I survived my first visit, I have 3 more to go before I see the oral surgeon. See you next month, if I don’t lose my sanity.

Thank the mythical financial spirits! I finally broke my downward slide into the negative net worth abyss. A nice pop to the upside. Hopefully, the chart isn’t the beginning of a double bottom.

My Zillow home value has broken a four month downward trend. I see my neighbor’s home value is also up. I still don’t see any recent home sales in my development, so this must just be a general adjustment due to the last good national existing home sales report. I did need to have a maintenance call on my central air conditioning unit. I don’t feel so bad since my last one was eight years ago. They did see that the unit was on its last leg. At the most it will last another two years. The estimate was for $800 to replace a rusting fan and new motor.

My car lost 8% from last month, but since there was an increase last month, probably due to an error at Kelley Blue Book, the drop should be expected. My eBay sales are still extremely low, but I ran some numbers and it is still covering the monthly cost of having a storefront on eBay, so I’ll keep it open and re-evaluate next month. Since, I can’t afford a vacation, I’ll use my vacation days to post some more items that I have in storage on eBay. Maybe if I free up enough inventory in my third bedroom, I can rent that out too.

My full-time job is still stable. There was some erractic behavior due to the summer vacations I guess, but the inital August numbers bounced back, so we’re OK. My part-time job just received a check from my biggest client. I thought my unemployed sister finally woke up and wanted to return to school, but that was just a fleeting whim. She remains sitting on her lazy ass and just selling all her possessions (and some of mine), no doubt due to the negative influences of her unemployed friends. At least her boyfriend is moving up in the world and can help carry some of the slack.

My credit card balances are still increasing, albeit at slower pace. I dropped the unemployed girlfriend, so one less on the “money out” list. I’m re-reading other personal finance blogs and getting back to basics. I’m eating out much less in the past 2 weeks. Lots of sandwiches, so my doctor will slap me around for ingesting all the extra nitrates. Hey, at least I’ve been swapping mayo for spicy mustard. I’m drinking a lot more water and cutting out the soda machine at work. Every penny counts. I need to remember that. Well, I have an appointment with my periodontist in two weeks, so this may be my last post if I fail to survive the pulling of my wisdom teeth and other procedures he deems “necessary”. See you next month.

Different month, same result. My net worth dropped for the fifth straight month and has finally crossed over into the red ($-544). My Zillow home value has fallen for the fourth straight month. There have been no sales in my development and the mortgage rates are beginning to creep upwards. Sure, that makes sense. No repairs to my home to report. Check out my numbers in the NetWorthIQ chart to the right. Good game, net worth.

My car has actually gained a few hundred in value. It might be an error by Kelley Blue Book, but I’ll take it. My eBay sales are near non-existent. To top it off I got shafted when I misquoted on an estimate and had to honor the incorrect price. I need to shut down my store. It’s just not worth my time and effort. I will close at month’s end. Good game, eBay.

My full-time job was stable with business showing a gradual increase, but August is looking curiously bad, but that’s next month’s entry. My unemployed sister is running out of payments, but she’s at the point of cashing in my change jars and selling my old TV on Craigslist, so I’m going to carry her even more. In other news, my last employer let go another 70 people this week, one of whom fainted when they told him. The paramedics came and carted him off. When I left there were 500+, now only 180 or so left. My Fortune 100 employer from 2 jobs ago laid off 120 people from my old office last week leaving just 270 or so. Good game, recession.

My credit card balances are just unstoppable. Between my sister and two girlfriends (one of whom just lost her job), my wallet is hurting. I need to drop at least one. I’d really prefer dropping my sister. Well, let’s see how low I can take this thing. Buckle up. See you next month.

My net worth dropped for the fourth straight month. At least the treadmill I purchased has been put to good use. I dropped a few pounds, but if my net worth keeps sinking, I may have to drown my sorrows in pints of Ben & Jerry’s Coffee Heath Bar Crunch ice cream.

My Zillow home value has fallen for the third straight month, down over 1.5% from last month. There are more houses up for sale in my development, but no activity so far. I spent over $400 for a storm door and installation, but can apply this towards the Federal Tax Credits for Energy Efficiency. No further repairs on the home or appliances this month.

My car value lost more than 7%, but at least I didn’t have to pay for any more repairs.

My eBay sales have seen a dramatic slow down – almost 40% lower than last month. I actually lost money last month according to my month-end books. I’ve decided not to list any of my fine china inventory as the values have dropped to the point where after the eBay/Paypal fees, the profit would be near zero. If there is a economic recovery, I haven’t seen it. I’m forced to watch CNBC all day, so it starts to suck having to listen to asshats like Dennis Kneale say that the recession is over. It must have been really bad for Dylan Ratigan to leave for MSNBC.

The income from my full-time job is still steady, and the renter’s check didn’t bounce, so there’s some good news. However, my job’s business has dropped more than 50% in July. We got reassurance from our CEO that we’d “get through this”, but the last time business dropped this much, we laid off half the company three months after the last reassurance speech. Oh joy!

My credit card balances keep rising, but I’m throwing as much of my cash reserves towards it. That’s all I can do. Most have APRs of 9.9% or lower, but the 2 that don’t are at 24.99% and won’t budge. I’m looking into transferring balances since they won’t work with me.

I’m currently looking into switching careers to something in healthcare as unemployed MBAs are a dime a dozen in this town. I hear nurses can’t find jobs in the NYC area with all the hospital closings, lab workers are begging for hourly work, and Local 1199 Union medical workers are scrambling to file for early retirement to score what’s left of the pension fund. This is the same pension fund that sent out letters a couple of years ago stating that they would only be slightly affected by the fall in the stock market and for members not to worry. I believe the fund is heavily invested in NYC real estate and down to the 60-70% funded range and past the “critical” level, but I haven’t confirmed from a second source. I also hear dentists aren’t doing as well either. I guess physician or physician’s assistant are my only ways out. It would take two years to complete the extra classes part-time, so I’ll have to really think hard on this. Are you seeing an improvement in your area? Any unemployed career switchers out there?

What a bad month for my wallet! I don’t pay any premiums for my health insurance, so I shouldn’t complain, but it chafes paying for a $1500 deductible out of pocket all at once. Then the device I need to wear cost me $850. Welcome to the suck. I’ll be OK. The treadmill I bought finally got delivered, so I’m using it at least twice a week. I’m trying to eat better, so the cost of organic and healthier groceries has more than doubled my food spending. So much for cutting expenses. Did I mention how bad beet juice smoothies taste?

My Zillow home value has fallen yet again. Down almost 2.5% since last month. The good thing is that my neighbor has his house up for sale at $239,000, so if it goes at that price, mine should hopefully be buoyed by that. I did have to repair some things in the house — clothes dryer, air conditioner maintenance, and drywall damage. Money in, money out.

My renters paid me in cash. Good news – they paid me. Bad news – I didn’t deposit it. Instead I put it on my desk thinking I’d use some of it as my pocket money for the month. Since I didn’t keep tabs on what I used the cash for, by the end of the month I was trying to find out where it all went. I don’t think it was stolen by the lawn gnome, so it must have been me. My PO Box rental expired, but since I only check it once a month, I didn’t get notified because they just cleared the contents and taped it over. Thanks US Postal Service. They charged me a lock change fee even though they didn’t really change the locks. I’ll let them have the $30. I was late a month and they didn’t rent it to anyone else, so I’ll rationalize it as my late fee. They need the money anyway.

Oh a few weeks ago, I turned on my car and smoke and an electrical smell came from behind the dashboard. I thought I was a target of a mob hit, but it turned out to be a short-circuiting stereo. The dealer wanted $1000 for parts and labor, so I told them to nicely get lost. I ordered a the cheapest stereo withan iPod input and front speakers from Cructhfield. I installed it over the weekend, but had to go to Sears Hardware twice to pick up stuff they didn’t include, like electrical tape and crimp covers. I saved $700 by doing it myself, so I guess that’s a good thing minus a couple of hours of grief. So add up the medical expenses, cost of the treadmill, stereo and home repairs, increased food spending, and I get more credit card debt than I started the year off with. Yay! One bright spot for May is my 401(k). I received my employer match contribution for the quarter. Luckily, most of the expenses in May were one time items (let’s hope). Back to the grind.

I have tenants. Yeah! The rental income will be reflected in next month’s net worth statement. Apparently, the movers (based in PA) told them they were the first customers in a month. So much for a recovery. Other than that not much going on.

My cash position went down to pay off a chunk of credit card balances. What was left in the bookie account was used to purchase a treadmill. I purchased a Smooth Fitness 9.35 treadmill. It received some great reviews. Now I can trim fat from my waistline as well as my finances.

My Zillow home value dropped again. $2500 for no reason. Maybe it has to do with a new condo development that is being built down the road. Things can’t be going too well since they just put a sign up that part of it will be an assisted living center. My car value also lost a tiny bit.

I didn’t make any money in surveys this month, but I did get a coupon for a free pre-owned DVD from Blockbuster. My MyPoints Survey account is almost at the minimum level to cash in for a prize. I’m thinking of a $25 gift card of some sort. It takes a lot of surveys to rack up the minimum points. I might cancel that account after I cash my points in. I made a charitable donation to my friend’s Multiple Sclerosis Walk-A-Thon.

March Madness. What a month for my finances and basketball! From an earlier post, I mentioned I received some bad news from my best friend. I paid for some of her medical costs out of my emergency fund. I also racked up some more credit card debt to stretch my cash reserves until pay day. I even took a loan out on my 401(k) to act as my emergency fund. Half my vested balance was the limit, so it didn’t amount to much. That was disappointing, but I got some good news a few days later. We got bonuses! It wasn’t the full 30% of my annual salary, but hey I’m not complaining. The payment was split at 20% now and 5% in June. The unfortunate thing is that it was taxed at 49%!!! Probably to pay of AIG or GM. I plan on paying back the 401(k) loan as soon as I do some math. The interest is only 4.25%, so it may be worth paying off a higher-interest credit card. We’ll see.

My Zillow home value dropped for no apparent reason. There have been compaints from other bloggers about the fluctuation of Zillow’s number from month to month. Who knows how they base their values on? My neighbor has the same house, but is the same value mine was last month. Weird, but I’ll go with it. My car value remained steady.

Another increase to my cash position came from my gambling account. I crushed my bookie during March Madness for a $6,000+ profit in 3 weeks. Some of you are probably rolling your eyes that I would be gambling while I have mountains of debt. I don’t consider it gambling. I saw some value in completely incorrect spreads, like an arbitrage situation. You don’t find too many of those in the markets any more. I also won $300 at the blackjack tables of the Wild Wild West Casino at Bally’s in Atlantic City. What, I can’t have some fun on the weekends?

As for miscellaneous income, I filled out some surveys at e-Rewards and received $29 of e-currency. I used $20 of it on two 1-year subscriptions on Entrepreneur magazine and Fast Company magazine. I used $50 of my Discover Card cash back rewards towards by balance. Easy money. I received some rebate checks from Pep Boys oil changes. I received a prorated credit for cancelling my Comcast Cable. My eBay business was below last month’s sales number, so the profit was unremarkable. My Upromise account is scheduled to credit my student loan for $49.52 for the quarter. Gravy.

After I set aside $5,000 for my emergency fund…again, I will pay off my Discover Card, as they increased my interest rate to 16.99%. Funny I don’t remember getting notified of that. Bastards. Let’s see how they like my $0 balance. Well, that’s it for this month.

MoneyMonk left a comment on my latest Monthly Net worth Statement post asking how I have debt with a six-figure salary. Coincidentally, MSN just posted a nice piece on a couple who just gets by with an annual salary of $400,000 (tip: don’t have kids). It’s the same with anyone who has debt in any income bracket. We have (or had in my case) more expenses than income and either voluntarily or not, we had to compensate with credit cards or loans.

I didn’t always have a six-figure income. It’s only been a couple of years. In the 10 years prior, my average income was $47,000 or so. This takes into account three periods of unemployment in those 10 years, so my net worth statement back then looked really sad. To survive and keep my modest house, I did have to rely heavily on credit cards and a home equity loan. I amassed the bulk of  my credit card debt during this period. While my income is much higher now, my expenses have not remained the same level.

I work on Wall Street which is two hours away from my house depending on traffic. With the amount of hours I work (60-83 hours a week), I need to stay near the city or risk driving off the road snoozing during my 2 hour commute home. So I rent a small 12′ x 10′ room in New Jersey during the week. So along with my mortgage payment every month, my living expenses (excluding utilities) are now more than 43% of my net monthly income. I did have someone renting out half my home, but he moved out last month after being unemployed for 3 months. There went 15% of my monthly net income out the door. I don’t feel like selling my house in the current environment and losing the equity (excluding my original down payment) I have left. All other expenses have been cut down to the bone. I even cancelled Comcast cable completely on Friday.

FreeMoneyFinance suggests that we (those only getting by with large incomes) move to a lower cost-of-living city. Uh, I live in a small farming town on the border of a suburban area of Philadelphia. Any lower and I’d live in Valley Forge National Park among the deer and foxes. He suggests finding a job in the lower cost-of-living area with a 50% reduction in pay. If I could find a job here, it would have a starting salary of about $45,000 (even with over 13 years experience). That amounts to a 64% reduction in pay, but I would save some money from not needing to rent a room during the week. From my earlier statement, the job market here is not stable and very limited, so unemployment would have to be factored into the $45,000, not to mention it would be mathematically impossible to contribute to a 401(k) plan given my expenses and aggressively paying off my debt.

Accepting the offer for my Wall Street job was a no-brainer. I’m sacrificing my happiness and probably my short-term health, but it is the best chance I have to attack my debt load in the timeline I set. Sure, if I had a six-figure income nearby my low cost-of-living area home, I’d be clicking my heels while whistling Dixie, but I’m afraid even if the economy recovers, this won’t be likely. So I hope I answered your question MoneyMonk.