Net Worth Update: August 2008

by Kevin on September 3, 2008

We are continuing our upward momentum with our net worth. August was another good month for us in terms of income, and we had no major surprises in terms of expenses. As a result, our net worth jumped up 3.01%. Since December of last year our net worth has increased 31.51%.

I’d love to end the year with a 50% increase overall in our net worth. I’m not convinced that is going to happen, but hey, it would be nice.

Anyone else out there enjoying growth in their net worth?

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August 2008 Net Worth Update: -2.4%
September 9, 2008 at 8:26 am

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LivingAlmostLarge September 3, 2008 at 10:04 am

Mine’s likely down. I’m not sure. The markets been tough on our investments and we’ve gotten more student loans. So I think we’re in a point where we are tied between paying off the mortgage, savings, and accruing student debt.

hank September 3, 2008 at 10:45 am

Mine is up and down this past few months. I’ve switched from doing it monthly to doing it quarterly because the ups and downs I didn’t think were worth birddogging through the month. but good job on yours going up!

Start-Up September 3, 2008 at 11:45 am

Mine continues to climb and I imagine will do so until I have enough retirement savings in a 401k or my Roth IRA to really be effected by the market fluctuations.

Good luck on reaching 50% increase for the year. Do you ever set goals for net worth or savings?

Kevin September 3, 2008 at 9:56 pm

@Start-Up: I don’t have a firm net worth goal, but we do have a set amount we save for different savings goals… IRA, we’re starting to save for a “new” used car for my wife 4 years from now, and a few other smaller things.

Our accounts, too, are too small right now to be affected by market fluctuations. But we’re (happily) getting to that point.

Matt Ranlett September 4, 2008 at 2:48 pm

I wonder about that. I just had to spend so much money on a replacement for a broken air conditioner that I could have bought a brand new Toyota Yaris for cash. Thankfully, this did not even cut my emergency fund in half, but what does that do to my net worth calculation? I figure that money is gone so I’m considering my net worth to be down overall. Which blows.

PS – what are you doing to get a 30% increase in net worth? Even discounting the new A/C (and the new roof I’m about to have to buy which will cut even more deeply into my emergency fund) I’m not getting close to 30% growth

Kevin September 4, 2008 at 9:46 pm

Matt, that 30% was since December of last year.

It consists of saving money, every single month. I’ll write a post that talks about tracking net worth for either tomorrow or this weekend.

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