It’s time for a monthly check of our Net Worth. As always, I don’t give ‘real’ dollar amounts, but the trends in percentages are worth a look.
Things shot up at a great rate this month. There were a couple of one-time things that really helped us move along. First, we received our state and federal tax refunds. This allowed us to pay down a chunk of debt and also helped our cash position. The second is receiving a bit of money from my grandmother, who passed last year. This allowed us to pay down another chunk of loans.
- Property – Zillow and CyberHomes is what I use to track this, with a modification based on ‘gut feel’. Both services lowered their estimates just a tad, but things seem to be leveling off. We are encouraged as a lot of homes in our subdivision that go up for sale seem to sell very quickly. The prices aren’t great, but it’s still an improvement over a few months ago when properties would seem to languish for months and months.
- Autos – Kelly Blue Book kept the value of our cars pretty stable for the month.
- Investment Accounts – We saw a nice gain for the month of just over 5%. We haven’t made any new investments, so this figure merely represents our gains or losses with the investments already in the market. The upward tick in the stock market is working well for us!
- Cash – Cash jumped up for the month, largely due to receiving our state and federal tax returns. The funds that didn’t go towards debt were earmarked towards other categories, but still allowed us to report a bump in cash for the month.
- Retirement – Our retirement went up 5.5% after another up month in the market, putting it at an all time high. I contribute 10% of my pre-tax salary towards our retirement so the gains were market gains plus new contributions.
- Property – We made our standard mortgage payment.
- Student loans – Our first student loan balance took a nice big hit this month because of the double whammy that I mentioned above. With standard payments, I forecast that we’ll have this completely paid off in January 2011, which will allow us to focus on the second loan and will keep us on track to be student loan free by the end of 2012!
- Credit cards – We carry no credit card balances from month to month!
- Auto – We’ve paid off both cars outright so we have no auto loans!
All in all, this was a great month. A 9% increase is always great. Unfortunately, this is not a ‘typical’ month, so even if the market were to continue moving upwards, this type of monthly gain would be hard to repeat anytime soon. Still, it helps out a lot and keeps us motivated and moving in the right direction!
Here’s hoping for another good report next month.