Retro: June 2005 Net Worth Update

June was our first month in our new home apartment with our new jobs, our new budget, and our first paychecks!  Did I mention we bought a duplex last week too?  There were so many activities involved for each of those items above, in addition to getting settled in our new city, that we did not have much free time for anything else!  I guess we did squeeze in a baseball game or two.

Even after all of that, I am really pleased to report our first GAIN to our net worth! At the end of June 2005, our net worth increased by $3,727 to a new total of $37,900.  That’s a healthy 10.9% increase in one month’s time.

FI Champion's Net Worth Update for June 2005

(View details and definitions for all line-items in our monthly Net Worth Updates)

Noteworthy highlights for the June 2005 update:

Our Cash & Savings as well as Taxable Brokerage Accounts saw big drops because of money used for the down-payment on our new duplex.  In total we put 20% down, which was $37,000.  But in addition to our down-payment, we also had several “one-time” fees associated with the purchase, such as inspections and closing costs.

I have added a line-item for “House #1 – Primary & Rental” under the Assets heading.  This represents the value of our new duplex.  We know the current value because of an appraisal done during the purchase process, which should validate the number as reasonably accurate.  I do not intend to update this every month, but will consider doing it yearly.

I have also added a line-item for “House #1 Mortgage” under the Liabilities heading.  This will contain the amount owed on…

Continue reading the “June 2005 Net Worth Update” post by clicking here.

 

Note From Author

The full “June 2005 Net Worth Update” post has been back-dated to 06/30/2005.  But it was originally published to the Financial Independence Champion (FIChampion.com) Blog on 05/27/2016.

Why Back-Date Posts?

I mentioned in my first post how this blog will be a little different than any other ones you may follow.  I still plan to talk about personal finance, rental property, travel, and the pursuit of financial independence.  But to give all these topics the right context and the full picture, I need to start at the beginning.  I need to fill in the details of life from 2005 until now.  I want you to see the successes, the struggles, and all the milestones we passed along the way.  Therefore most of the “new” content will be back-dated to their appropriate dates in 2005, 2006, and beyond — until we’re caught up!

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