Net Worth Assessment (February)

Its now the middle of April and the grass is starting to show some signs of green and I am only now getting to posting my Net Worth Assessment from a couple months ago. No do not expect there to be any Enron like cover ups it was just a very busy period of time as my wife and I were looking for cottages and I am not playing a bit of catch up. I wanted to make sure these posts made it up and though they are late they are here.

The month of February was an interesting month because of the cottage hunting we ended up getting our house re-appraised. If you’ve ever done this and had the assessment go in your favor it has a huge impact to your bottom line. In other words if the house goes up in value you have more equity in the house. That is exactly what happened here. While the month over month differences were minimal the liabilities went down but which is good.

Here are the numbers:

Jan 31 Balance Feb 28 Balance
Liabilities
Consumer Credit $9,463.85
$10,692.64
Lines of Credit $30,086.17
$29,693.15
Mortgage $240,701.26
$240,022.21
Car Loan $20,484.30
$20,149.34
Total Liabilities $300,735.58
$300,556.94
Assets
House $360,000.00 $375,000.00
Investments $40,790.25
$43,636.63
Total Assets $400,790.25
$418,636.63
Net Worth $100,054.67

$118,079.69

Growth
$18,025.02
% Increase
18.02%

So Most of the important categories went down with the exception of consumer credit – I used some of this to pay for hotel rooms while we were running around looking for the cottage as well as a few other expenses (we went away for a weekend to treat ourselves). Other than this one splurge category everything seems to be in order. Even without the increase in the value of our house the increase would have been good.

Up next – the March numbers: this is where things get a bit wacky with two properties.

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