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Monthly Net Worth Update – April 2010
For the second month in a row, our net worth experienced a surprising bump.
Our assets increased almost 2%
Just like last month, our assets actually increased (Woohoo!). Also just like last month, that increase was driven exclusively by the stock market. It was a steady month as all of our accounts increased in the mid-single digit range. As expected, however, our cash accounts dropped another 4%. As I mentioned recently, my wife is not going to be going back to work. Our reduced salary coupled with some temporary increased expenditures for the birth of our daughter has caused our cash accounts to drop almost 12% since the beginning of the year. It would have been worse this month if I had not received my tax refunds and a small yearly bonus from work. We have reduced some of our expenses, savings, and investing to get our budget more balanced so hopefully this downward trend will level off very soon.
Our liabilities decreased 0.12%
Our mortgage dropped the standard 0.12% again this month. We are no longer in a position to consider accelerating payments on our mortgage, however. Our mortgage payment now makes up the largest of our regular monthly expenses by far. We have decided to see how our new budget works for the next three months. At that point in time, we will evaluate whether we need to make some drastic changes regarding our house payment (like trying to sell the house and buy a less expensive one).
Our net worth increased more than 4%!
Even with the very small decrease in mortgage principal and large drop in cash, we still ended up with a net worth increase of more than 4% this month! In fact, our net worth is currently the highest it has ever been. As I mentioned last month, I am trying to not worry about the financial upheaval we’re experiencing and simply focus on God and rely on Him to meet our needs. I must admit, however, that I am getting caught up in the daily checking account balance. I’m still very much a work in progress.
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LOL I know what you mean watching the checkbook. Did the same when DW stayed home after birth of our baby. Been 2 years now and feel comfortable with the decision.