Net Worth is Here!

Alas, here we have it! Again, I can't say it enough -- NAPF is a huge inspiration. I spent the entire day organizing, updating and thoroughly scrutinizing every account balance, interest rate, finance charge, bank fee and transaction over the past three months. The hard work led me to a completely updated Net Worth statement.




The surprise that whooped me right upside the head:

1) Gas card balances have exploded to around $1400! I'm shocked. Shocked. I hadn't been following all the trips to the pump over the past several weeks. But if you've had occassion to read about my traffic woes you'll know our that between us, we travel about 2,400 miles per month, with much of that time wasting fuel in idle traffic. Beyond limiting pleasure treks, I'm not sure there's much I can do about the expense.

Notes to the statement:

1) I'd mentioned earlier that my total consolidated student loans totaled $70K. My statement still shows about $30K listed separately -- I'll move those over when the final paperwork arrives. Interest rate is will be about 4%.

2) Liability accounts still include my better half's student loans, which currently amount to approximately $11K. They have already been through consolidation, but I may look at the possibility of adding them to my existing application (I have 180 days to add more loans) to simplify things.

3) University student account is an outstanding balance owed for my final MBA class. At $2300, this is a priority. I need to take care of this right away.

4) Retirement situaiton is pathetic. Right now, I have an automatic $50 deduction to the Roth IRA. Hubby has nothing, and the traditional IRA is a relic from an old 401K rollover. Steve over at In Cash Flow We Trust suggested I at least contribute 3% to pick up my employer match. I think I will.

5) On a more positive note, at least there are some assets :) Even though we rent the apartment we live in, we own some real estate. The first asset measures our share of equity in a nearby property (we have partners in that deal). The second is our own, a three-acre plot northeast of LA (think urban sprawl). Good piece of land -- area is already subdivided, has roads and people are starting to build. We'll just hang on. Or if things really take a nose dive, at least we can pitch a tent and call it home.

Update: For some reason this image is scaled to 60% making it hard to read. If you click on the statement, and then click again, it will blow up to 100%. I'll have to figure out how to make it more legible within the body of my posts. Oh well.