Net Worth Update – $127,992.27 (-$4,381.61)

Every month we like to figure out our net worth to keep track of our progress towards meeting our goals.  We share these numbers here to keep ourselves accountable, and for our readers to follow along with our journey.

Net Worth Update for August 2017

What is Net Worth?

If you are new to tracking your net worth, start with the post, How to Track Your Net Worth.  Your net worth is all of your assets, minus your liabilities. Since Mr. Farmhouse Finance and I combine finances, I track our net worth as a couple.  I enter our numbers into an Excel spreadsheet once a month, usually on the 14th or 15th.  For the purposes of these posts, I will be sharing a summary of our numbers entered into a Word table.

Here is our net worth as of August 2017:

What’s included in our net worth?

We have many different retirement, checking, and savings accounts, as well as a number of different credit cards.  I total up the numbers for these different accounts, and add them to the appropriate category on our table, rather than copying the entire spreadsheet with all of our different accounts. For the Kelley Blue Book value, I always use the dealer trade-in amount, since that is a more conservative estimate of what our cars are worth.

For those of you wondering about all our different accounts, here is a list:

  • Retirement Accounts (Roth IRAs, 403b, Roth 401k from old job)
  • Cash (personal checking accounts, joint checking, savings accounts for down payment for house, emergency fund, vacations, gifts, exercise equipment, taxes)
  • Cars (2013 Subaru Impreza and 2007 Toyota Prius)
  • Credit Cards

What’s not included in our net worth?

Mr. Farmhouse Finance and I are both public school teachers.  We have been contributing to the Teachers’ Retirement System, and will continue doing so throughout our careers.  We have decided not to include this in our net worth summaries at this time, but may change our minds about this in the future.

Why so much cash?

We have been saving for about a year and a half for a down payment for our house, and have opted to keep this money in cash because of our shorter timeframe.  We also are building our emergency fund (that’s on hold right now) and vacation funds. Once we build our house, we will continue to keep a small bit of savings in cash, and invest the rest.

This Month’s Progress

This month our net worth decreased, as expected, since we have not received any teaching paychecks since June and are living off of what we budgeted for these months without pay.

In addition to our typical spending, we had to put a large deposit down ($1,890) on the new apartment we’re moving into, and were total ballers on our anniversary trip.

We used money from our vacation fund to cover the trip, but with the two month’s rent deposit that we put down we may need to transfer other savings to cover our expenses for the next month.  Hopefully we get our security deposit back from our current unit before we move into the next one.  If not, we’ll dip into savings to make the transition seamless.

Goals for Next Month

Next month we need to focus on getting our spending back on track and decide how we want to allocate our paychecks for the upcoming school year.  Mr. Farmhouse Finance and I will both be receiving raises (moving up to the next step on the salary schedule), and will have a little bit more money in each paycheck.

We are going to rein in eating out and other fun expenses since our vacation fund is pretty much depleted at this point.  We have a goal to save $5,000 by next summer for a trip to Europe, so once we start getting paid again, we will each set aside about $100 a paycheck into our vacation fund.  We will also continue adding to our house fund and contribute to other savings goals.

How are you doing with your goals?

Illusion of Scarcity Worksheet (PDF)

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Download this free worksheet and start paying yourself first.


  • Budget for financial obligations and recurring expenses
  • Prioritize your financial goals
  • Make all your transfers on payday
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2 Comments

  • I completely sympathize with you on the timing of security deposits being returned. Frustrating.

    So, all-in-all, it seems like you had another good month. Net Worth decreases were related to security deposits (money not lost) and being ballers from a vacation fund that you were saving to use anyway.

    Sounds like everything is operating as normal. Well done.

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