This month we saw nearly a 5% increase in our net worth. This was mostly brought on by the slight recovery in the market this past month. Non-registered investments increased by nearly 25% (over 6k). Unfortunately we are seeing very little organic growth via savings and debt reduction, only about $1k. We continue to horde our money in the account that we use to pay our bills (don’t worry its a high interest account) while we deal with wedding and honeymoon expenses. This account isn’t being tracked as part of our net worth because its an outflow account.
Savings: We currently maintain $4500 in our personal checking accounts so we don’t have to pay any banking fees. The rest in our accounts is being set aside for an emergency fund which we hope to reach $30k.
Mortgage: There is debate on how one should include their home in their net worth. Some people try and track the present value of their mortgage and others prefer to use their purchase price and leave it at that. I’m in the latter camp. I feel tracking the value of your home on a month to month basis isn’t worth while. We have no intention of selling since we need a place to live and it takes away from true net worth growth of saving and investing properly.
Line of Credit: This is a line of credit that I took out to invest in the market. This will remain the same as I will continue to only pay the interest since I’m claiming it on my taxes. I will eventually pay down the loan I just haven’t decided on when.
Vehicle: We are currently leasing our vehicle. This is preexisting to my fiance and I meeting. Our intention is to ultimately purchase the car once the lease expires. We won’t be tracking its value as it is a depreciating asset and serves no purpose in helping us achieve our goals. It’s benefit comes in the way of us running this car for as long as possible allowing us to save and invest more.
How is your net worth doing after the upswing in the market in march ?
-mfd-
Related posts:
- Net Worth Update - January 2009
- Net Worth Update - August 2009
- Net Worth Update - April 2009
- Net Worth Update - May 2009
- Net Worth Update - The Beginning
