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Net Worth Review: August 2007
Posted by
Clever Dude
|
September 4, 2007 .
August was a successful month with our net worth, but the stock market didn’t help. Our overall net worth increased by 5.99% last month, thanks to an impressive debt payoff.
We paid off about $3,800 in debt principal and gained about $1,100 in assets (stocks).
By the way, I stopped tracking both our home value and mortgages in our net worth. I can only guess what it could sell for, so there’s no use in trying to track a profit now. Our net worth graph took a giant drop, but we’re still on the positive side for net worth.
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Clever Dude and his bride started with $113,000 in consumer debt and in just 3 short years, it's gone!
I am kind of new to your blog so excuse me if you wrote about that earlier ,but do you have a lot of money invested in the market?
I guess not with the net worth growth you are showing. I suppose it is the best moment to pay off your debt as investments might not offer the same yield (some debts are easily over 10% of interest rate).
Congrats!
Congratulation on the big jump. I am posting how I estimate my home value today, you may want to check it out. I think the method gives decent estimate and let you keep an eye on the housing market condition too.
FB: I wouldn’t say that we have a lot invested in the market. We actually took a bit of a beating last month, but we still came out ahead.
None of our debt is over 6.25% right now (except our second mortgage), so we’re in that group of people who have to do some analysis whether to invest or decrease debt. I hate debt, so I chose that route, but now that we’ll be out of CC debt at the end of this month (oh, sweet glory!), I’d like to increase our 401k contributions.
Congratulations on the digging out of debt! I can’t wait until you make it all the way.