Thursday, June 08, 2006

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:

4 comments:

  1. Valencia5:54 PM

    Glad to see you back! Your liquid status is far better than mine. Good luck with the condo and the rebuilding of the stash!

    ReplyDelete
  2. Hi Valencia,

    Thanks for kind words!! The rebuilding is definitely going to take some time...I just finished cleaning away most of the boxes at the condo and am looking forward to weekends merely filled with relaxation.

    ReplyDelete
  3. I think you should certainly include the current value of the condo, especially as you put a lot of extra money into rennovating it.

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