July 2014 Net Worth Check: Artificially Inflated

Three months ago, I predicted that we would be more or less out of cash by now. That turns out not to be even remotely true, for two main reasons: Mr. FP’s old job paid out his last three months of paychecks in one lump sum, which we are currently living off of; and generous relatives sent us gifts, unsolicited but accepted with love and gratitude, totaling $3000 to “help with your moving costs.”

So the numbers are artificially high this month as we are spending down that last lump-sum paycheck. That said, it’s nice to see that we still have some cash reserves, even after paying off our last loan, and that the number is rising. Here’s how it looks this quarter:

Cash: $7638.35 (after paychecks start coming in from the new job, we’ll see what’s left here and invest most of the leftovers)

Investments: $55,102.25 (This is up about 10%  even without money going in. Apparently the market is doing well?)

  • Mr. FP’s 403(b): $30,432.31
  • Mrs. FP’s rollover IRA: $17,181.63
  • Mrs. FP’s Roth IRA: $7487.56

Property: $2000 (1999 Honda Accord)*

Credit Cards: -$1514.73

Net Worth: $63,225.87!

Wow, that’s up a lot–almost 17%! I don’t expect that kind of gain in the next few months, but I think we can maintain modest growth even after spending down these last paychecks. I didn’t realize how well our investments were doing or how much money we had until I sat down and added it up–which is, after all, the point of this exercise, to force myself to look at numbers and see our whole picture. What about you, readers? Has it been a good second quarter for you as well, or are you hoping for better luck the rest of the year?

*I re-checked the car’s value and took $1000 off. Mint offered to track it for me, but I try to use a more realistic number than you get from websites.



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About frugalparagon

I'm a part-time librarian and mom to two small boys. I blog about striving for the long-term goal of financial independence while running a tight ship at home.

3 responses to “July 2014 Net Worth Check: Artificially Inflated”

  1. KT says :

    I’m glad to see that you are so financially-focused that you realize the value of keeping and updating your net worth. I am so far past your stage in life, but started doing a net-worth check at about your age. I was very financially conscious and knew that we had a savings account, checking, savings bonds, IRAs, paying into a pension, and had other investments. I felt secure, but one day it dawned on me that I had no idea what all of those investments totaled.

    So I set up a spreadsheet and on the last day of the year, filled it in. Wasn’t long until I was doing it on the last day of each MONTH. I continue to do it monthly and also include how much cash we have in the house and our pockets. The advantage of doing it monthly is always knowing immediately where we stand when considering a major purchase.

    Keep up the good work. It helps in making knowledgeable decisions.

  2. Amy K says :

    Is the credit card balance all moving expenses that will be paid out of the cash? You probably mentioned it in a previous post but I’ve forgotten.

    Yay for having cash on hand, always good when things works out better than planned!

    • frugalparagon says :

      No. most of the moving expenses were last month, although there’s moving-related stuff on there like joining the YMCA. We use our credit card for everything so we get reward points and don’t have to carry cash. It’s high this month because Mr. FP is a teacher with the summer off, so we’ve been doing more driving, camping, etc., plus. half the shoes we owned seemed to wear out at once–we don’t usually drop a couple hundred dollars on shoes in one month! It will be paid off as usual when the bill comes due.

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