February Net Worth (-$19,815.90)

We had a mixed bag of results last month. Our investment and RE holdings took a substantial hit to the tune of about 2.25%. OUCH!

I've read several discussions about how to properly value RE in the context of calculating net worth, but for my purposes, I'm most interested in the comparative values from month to month. We don't anticipate selling either property anytime soon. So for all its shortcomings, I've chosen to use Zillow. I think the site offers accurate trends within a given market.

Still, it's interesting to compare Zillow with other RE valuation sites and see the sometimes vast disparity in values. I'll write about that topic in a future entry.

What's most heartening is the nearly $2,000 of our medical and credit card debt paid off over the last month. Our debt smackdown is on!

Net Worth: Finding the Benchmark

Before I get into my somewhat checkered financial history, I feel it's appropriate to set our financial benchmark for the beginning of the year. I have set goals for 2009 and beyond, which I'll detail in a later post, but it's critical to know where we stand now.

Anyone share our trepidation about opening investment account statements? The bulk of our investment portfolio is my wife's (we were married at my financial nadir....apparently she saw some potential here.). She didn't have the heart to see the carnage wrought by 2008 financial markets. But I forged ahead and gathered all of our financial records, recording them in Yodlee Money Center. Thanks to My Money Blog for the tip.

Most heartening to me is our SFR rental property. We have quite a bit of equity residing there and are fortunate to have the property generating a positive cashflow. Rental properties in our area are in high demand. As I mentioned in my last post, we just completed an extensive remodel on the property, so we can now reap the harvest of our 5-1/2 months of hard work.