2007 Year End Status Update
We’ve made it to 2008. I spent some of my time yesterday updating our financial picture as of the end of the year. Now I have a baseline for reaching our goals for this year. Here is our updated Net Worth for December of 2007 (you can see this detail on my Net Worth IQ link on the right also):
Of course, you can see the big change from buying the new car gave us a huge increase in asset value for the cars and a larger increase in car loans. As I had mentioned, we owed more on our old car than it was worth, so we had to roll that extra into this loan. We also added an extended warranty out to 5 years so it will be under warranty the entire time we are paying on it.
We did manage to increase our cash this month, despite the $500 down payment we made on the car. Even with that down payment, we still increased our net worth by over $500! Yeah us. That was a bit shocking to me, but a pleasant surprise.
There is still a $200 personal property tax bill that has yet to clear the bank and we will owe about $1,000 in sales tax on the new car which will get paid this coming week. However, we will also not have a house payment as the refinance is approved and will be scheduled in the next couple of weeks. That, in addition to me getting an extra paycheck this month should make for a great start to the New Year.
