I like to do these "snapshot" type totals on the personal net worth on the 1sts of every month.
Just take all your assets(cash,investments,loans owed to you) and subtract your liabilities(debts) and you get your Personal Net Worth.
Not very scientific but it gives me a sense of which direction we are heading in. 8-)
We are up from September 1's total.
Net Worth on just our cash and non-retirement accounts on October 1st went down $721.55 from the September 1st total.
Well that's what happens when, though you didn't spend all your month's income, you shell out a couple thousand dollars of savings on a new driveway.
The retirement accounts went up by $4,863.93 however, leaving us with an overall gain of $3,911.90 for October over our September net worth standing.
Yay us!
Since moving the bulk of our retirement money into safer more stable instruments(since we are so close to cashing out), we don't see the gains we use to on that money. This disappoints me every month until I remember that we are being prudent and wise with the money at this stage in the game.
Not very wise to keep gambling with assets with the market so volatile.
Hubs and I had a sit-down a few days ago to see where we need to move money to. We had some liquid cash sitting not earning anything for us so we'll move it into a CD where it will at least earn 1%......a pitiful 1%....... 8-P
How is your money doing?
Is this month better than last month or not?
How do you keep your money working for you when you aren't using it?
Sluggy
