I had a nice relaxing holiday break, minus the wedding and new years party towards the end, and I hope you all did as well. I suppose now it’s time to get back to the grind of working, tutoring and blogging. In the near future, I will be posting my 2009 goals, which will include both financial and non-financial goals. For now, here’s my standard financial status summary for the end of December, which is also my end of 2008 summary.
My available cash was the only asset to decrease for December. This is because my three months of 0% interest on my American Express ran out. This means I had to pay for my TV and three months of gas and food. Also, this month had my first mortgage payment. Combining these major payments with only two work pay days (January will consist of three) and not cashing my tutoring paycheck, and my cash assets decreased slightly.
December was the first month with an increase in my stock market assets since August. It is important to remember that I haven’t made any contributions to the stock market so far in 2008, so all of the monthly increases and decreases are due solely to stock prices. I will contribute towards 2008 retirement savings before the tax filing deadline, but that’s more for my upcoming goals post. In the end, it’s a good feeling to see my stock assets increase in value, however, I’m not confident they are going to continue rising.
Over the course of the year, I’ve lost between 29% of my stock assets, I feel very fortunate that I was not heavily invested in the stock market, but I plan on investing soon to take advantage of the coming uptick.
I made my standard car payment this month and my first mortgage payment. It’s rather depressing that only $214.63 of my mortgage payment went towards principal. This makes me really want to make an extra payment every month so that I can build equity more quickly.
My net worth increased ever so slightly in December as a result of an increase in the stock market, which is the exact opposite of the recent trend. I was able to decrease my liabilities by more than the decrease in assets to increase my net worth by 0.2%. Obviously, I’d like to see my net worth increase by more than 0.2% every month, but due to the extreme circumstances I will take what I can get.
Over the course of the year I was able to increase my net worth by 189%!!! I increased my net worth from $30,898.77 at the beginning of 2008 to $89,232.39 at the end of 2008. I’m very happy with my net worth increase, especially since it was all due to hard earned money and a buying real estate with built in value. In the future I am hoping my earnings will continue to boost my net worth, however, I would like to see stock market investments begin to take over as the catalyst for my net worth growth. Here’s to 2009!