Back in June I provided an update on my net worth, which was $-66,935.64 on June 22 (net worth update 6/22/2010). Since it has been about six months since my last net worth update, I thought I would take moment to find out how the last six months have treated my personal finances and my net worth.Below is a list of my debts and assets, with changes from June noted in parentheses:
Assets:
Retirement Accounts: $11,534.97 (down from $12364.30 in June)
Debts:
Bank of America Credit Card: $0 (down from $1,569.38 in June)
Capital One Credit Card: $503.97 (down from $3,122.55 in June)
Student Loan: $64,539.32 (down from $65,208.01 in June)
Auto Loan: $8,250.87 (down from $9,400.00 in June)
Total Net Worth: $-61,759.19 (up from $-66,935.64 in June)
Six Month Gain: $5,176.45 (average increase of $862.74 per month)
Although my net worth is still in the negative because of my student loan balance, an average net worth increase of $862.74 per month during an economic recession is very healthy. I owe this increase in net worth to stable employment (knock on wood), increased earning power due to education (and some luck), and an aggressive effort to pay off credit card debt over the last six months. Hopefully, I will have even better news to report over the next six-month period, from now until June 2011!
1 comments:
This looks interesting, I haven't really tried to compute my net worth. I'll give it a try and use your formula. I might be depressed by the figure I get though.
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