QuestForAMillion.net

Here is our net worth calculation for August 2007.  Since August 2007 is the start of tracking our net worth online, no comparison can be made to previous months.

All in all, we’re not doing too bad, but we’re not where we need to be yet.  Our goal for the end of 2007 is to have a net worth of $100,000 so it looks like we’re in good shape there.  Our net worth at the end of 2006 was $72,068.88 so we’ve made good progress this year.

Notes:

1. Cash and savings is low this month because we paid off a car.  We’re already working on rebuilding here.
2. Part of the money to pay the car off came from liquidating the investment holdings, although they weren’t much.  I don’t care what anybody says, the market scares me right now.
3. The retirement accounts are sitting all in cash right now.  See above.  By the end of September these accounts should be fully invested again.
4. The credit accounts consist of a HELOC, a balance on a 0% credit card that ends in March 2008, and the rewards card that most of our monthly spending goes on (which we pay in full every month).

Goals

Our main goal for next month is work on building cash and savings up.  We’re committing about $800/month for our Savings & Debt account so it should start to build pretty well.