Financial Update Report – May 2017
Below you will find a snapshot of our personal financials for the month for May 2017. This includes a brief synopsis of our net worth and monthly cash flow activity.
Curious WHY I calculate and share our personal net worth? I explain it here.
Want to track your finance the same way? See how I use Personal Capital to help create these financial reports absolutely FREE. Also, download my budgeting spreadsheet found in my popular post – How to Budget Like a Bad Ass!
First of all, you many notice the new look with the reports. That’s because Personal Capital recently updated their portal with a fresh new look! I’m liking it so far, although the main summary page looks different now and I’m still getting used to that.
So after a profitable April, we did a bit of a reversal. The theme for the month…
May I spend some money?
We had some larger purchases this month which hit our expenses, and cash flow took a negative hit. But, how would net worth show up this month?
Net Worth Summary
I was pretty happy last month with a big push forward, so I figured this month would be pretty quiet. We ended the month of May at $1,899,256 vs. $1,842,173 this past April. This is a $57,083 increase in our net worth or +3.1% by percentage.
As I’ve mentioned prior, sometimes Zillow’s estimates for property values are a bit out of line with actual comps. So, if I find that’s the case, or even suspect it, like this past month, then I will simply make an adjustment to get a more conservative net worth calculation.
We did see an extra $11,000 in equity value the past month, but that means there’s another $46,083 of increased net worth value from somewhere.
After digging around a bit, I did see it was indeed from newer updated property values. After running my own analysis on the properties, I decided to adjust the value of the properties by $30,000.
So what that means is I’m only going to count an increase to our NW of $57,083-30,000 = $27,083, and that will put us at $1,869,256 at month’s end.
Cash Flow Summary
Darn, it would be great to have a tax refund every month! Alas, we were back to our normal income without any refunds or quarterly dividends. With increased expenses, we wound up with a -$2250 loss this month.
Income of $12,789 was down from April by ~ $10k. This isn’t surprising since we had a big tax refund show up last month.
Our income is primarily made up from my wife’s teacher salary, rental income, dividend income, and misc investment income (eg. RealtyShares).
This month we spent $15,039 which was an increase in $5k compared to last month. Major expenses included a new computer to replace my decade old PC which was on its last leg. I spent about $1000 on the new one because I’d like to make it last another 10 years!
One other large expense were new tires for my car. We’re headed up to Mammoth in a couple of weeks and since it’s a long distance I didn’t feel comfortable driving on tires that were balding. That cost a little over $600. Finally, $658 of this was actually a charge by my wife to cover a school club banquet. She’ll get a reimbursement later this month.
Other larger ticket items included a dance class tuition for my daughter, hard drive for my NAS, preschool tuition for my son, and a cargo box for our car.
Portfolio Balances (Equities)
I can’t complain about my portfolio currently. It’s still chugging along even though I have a chunk sitting out on the sideline. This may not be the smartest thing to do, but I really want to have a decent amount of cash whenever the markets head south.
Well, I can’t imagine we’ll be spending nearly as much next month. I think we got all the larger purchases out-of-the-way in May!
My wife is finally on Summer break and my daughter will be off this Friday. I’m looking forward to two trips to Mammoth and 1 to Yosemite near the July 4th weekend. It’s been awhile since I’ve been camping, but it’ll be a ton of fun figuring it out with my family.
Other projects I’ll be working on in June are installing some garage racks and purging a ton of unnecessary stuff!
Readers, how did May treat you? Any upcoming plans for the Summer? 😉
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