As is the case at the beginning of each month, I publish my net worth and how it changed over the past 30 days. So here we go:
|LINE OF CREDIT||$18,308||$18,261||-0.3%|
While I don’t think I will be able keep up this pace, I was able to give my parents another $2,000 payments in February. We were able to withdraw money from our business so it didn’t hurt my budget too much. I am now down to $26,000 due in November 2010 (including upcoming interest). Since my current plan will lead me to have about $15,000 at this time, I am getting closer to my goal!
This month won’t be a big month in terms of net worth. My best friend is getting married at the beginning of April so a few expenses (wedding gifts, bachelor’s party, hotel room) are going to seriously hit my budget during the next 30 days. Oh well, we’ll try to work harder so it doesn’t show too much 😉
As you can see, I do not update the value of my house nor my company shares from month to month. I personally think it is not fair to update it monthly as it is only a perception based on a few metrics. However, I know that both my house and company shares are secretly going up ;-).
The housing market is really good in this beginning of the year in my neighbourhood and I feel that I will be able to grow the value of my house by at least 5% at the end of the year. This autumn, I am seriously considering having an appraisal done to refinance and get what I am missing to pay back my parents at that point.
As for my company shares, I had previously estimated a valuation of roughly 2 years of gross income. Since I own half of the company, this means 30K. However, if we keep the pace we are on right now, we should be able to reach the $50K mark in gross income (or more!) with our websites at the end of the year (yeah, yeah, I know, we are only at the beginning of March 😉 ). In this specific case, I will evaluate my shares twice a year (in June and December) in order to avoid an artificial boost for nothing. I will also base the valuation on the past 12 months and not forecasted income until the end of the year.
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