Net Worth Update: January 2009

It actually was a good month for the update that I just completed. Probably not so much after the stock market took a dive yesterday, but I ran the numbers on Wednesday morning.
I actually run my net worth on the 7th of the month. I know that’s odd but I have done it that way since I started tracking. The reason I started doing it that way was simple: I pay many major bills on the 1st of the month. The mortgage and credit card payments are the biggies. I always waited a couple of days after the 1st for everything to clear, because otherwise the credit card would show paid and the bank account would still show the money. I think that the 6th was the latest I ever saw it take to balance, so I just started doing it then.
The numbers were actually good this month. Our net worth increased 9.8% from December. I think the stock market rally really helped. As a result, our assets went up about 2.5%.
On the debt side, we reduced 0.35% of our debt. Not the best number but about average. I know that number will be lower this month. I decided to hold a little bit extra back into savings this month with the baby coming, so I’ll be making only one extra student loan payment instead of two.
Overall, this was a good thing to see. It was the first significantly postive net worth report since May 2008. That’s a long time. While the gain of 9% plus was nice to see, it’s tempered by the fact that the overall net worth is still down 33% from one year ago report. There’s still a lot of work to be done, but we’re on our way!

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