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Monthly Net Worth Update – December 2009

December 10, 2009 · Filed Under Net Worth · Comments 
Cash + Money by Terence Chang

Well, we are into the full swing of the Christmas holiday season here.  I’ve finally gotten most of our decorations up, we’re having a little party at our house on Sunday, we’ve been listening to lots of Christmas music, we found the “Yule Log” station on our TV which it shows a burning fireplace with Christmas music playing (it might not sound terribly exciting, but we watch that program A LOT).  So, let’s see how the net worth is looking through early December.

Our assets decreased almost 0.5%

Uh-oh, our assets are down this month…that’s not a good start.  Why are they down?  What are we doing wrong?  We followed a budget last month just like Dave Ramsey said!  Actually, all of our asset values increased this month…except for the house value.  The house value dropped.   A lot.  Its value dropped 2.5% which was enough to offset small to modest gains in the other categories.  I mentioned last month that I was getting my hopes up for not being underwater on the mortgage, but now we are more underwater than ever!

Our liabilities decreased 0.5%

Another month, another drop of about 0.5% on our liabilities. And now we are even farther away from being able to do anything with the mortgage without a significant outlay of cash.  We just had the Financial Peace University class on mortgages and are not exactly doing what Dave recommends (basically none of it, in fact).  Now we have to figure out if we want to get more in line with his recommendations and, even more daunting, how we are going to accomplish that.

Our net worth decreased!

Well, it had to happen sooner or later in this volatile economic environment – our net worth has decreased.  Now, it decreased less than 0.5% so it’s not exactly terrible news.  It decreased mostly because the value of our house, according to Zillow, dropped a fair chunk. But the end result is that my iPhone fueled net worth increase streak has come to an end.  Hopefully we will bounce back next month…but it is the Christmas month.  We do have money saved up for Christmas so we will not  go into debt buying gifts but we will spend that money (or most of it) so that will adversely impact our net worth next month too.  Hopefully the house price will rebound….

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