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July Net Worth Update
By Saver | July 1, 2008
We had a really good cash flow month in June, coming in under budget by nearly 200€. Add that to our extra income, and a slight decrease in the value of the dollar, and we’ve increased our net worth by $3,394. Most of this money has gone or is going to pay down student loans, but unfortunately the extra payments haven’t showed up yet. So we only paid off about $202 of our debt, which is the progress we’d make if we only paid the minimums. Next month will reflect the June extra payments (and hopefully some July extra payments as well!)
A few notes on methods. I’m not really sure how to account for different things, so I reserve the right to change. But for now, I am going to continue to convert euros in our savings accounts to dollars based on the exchange rate. We will most likely only live here for a year or so, so it makes sense to keep track of things in dollars. I’m also measuring “paid to net” as net of accrued debt interest. So if we make a payment of $100, but the debt accrues $5 in interest that month, I’m counting that as “paying down $95″.
Topics: Net worth update, Saver's Posts | Related Posts: Milestones, The Numbers, Working Away