June - 2006 Net Worth Update

This June update is abit depressing since all of my liquid savings went into the downpayment ($67,000), closing costs ($6,957), and renovation costs ($ 9,000) for the condo. In addition to this, I had to borrow a lot of money from my dad and mom to help me with the downpayment with the condition that whenever the place is sold, they will get their half of the profits on the sale. I know, I have great parents.

Still, when I stare at this balance sheet, it makes me very nervous at the amount of debt I have. My condo's value has gone up to $341,000 but I'm not going to include it into the net worth calculations since it's not a tangible value.

I have managed, however, in the last three months, to boost my liquid savings back up to around $5,000 something by saving every bit of penny I have.

Here goes... My June, 2006 Net Worth: