March 2010 was a pretty exciting month. Not only did Ryan and I get married but we received some very generous family gifts giving us a mighty fine boost towards our goals. Yesterday we set the mouse clicks in motion to pay off our smallest student loan, snowball style, and will be sure to post something bloody and graphic after the loan is officially killed.
Gore and bodily fluids aside here is where we stand (or should I say stood) at the end of March:
Assets
Liabilities
Net Worth
If the first week is any indication, we are expecting a busy April with our refinishing business. We are currently working on a separate emergency fund for the company (enough to run job free for 1 year) and are then planning to pile all profits towards debt elimination. It makes for some late nights but is well worth the added shovel.
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Sorry if you've already written about this, but for real estate assets do you update the value every month based on a change in the market in your area, or do you keep the same value based on purchase price, or ….?! Basically, how do you calculate/estimate the real estate portion?
Lez and I decided to keep things pretty conservative in our calculations. The house is valued at cost since any gains wouldn't really be captured until the final close when we sell it anyway. Zillow and some other sites have us appreciating a few thousand dollars to the good side as the Rochester market remains pretty stable.
Cars on the other hand constantly lose value so in the spirit of being more conservative we check KBB.com every once in a while and decrease their values. Thanks for the comment.
I forgot to mention the $8,000 "other assets" is simply a cash bank transfer between our accounts currently underway which was not reflected in any of the automated account data used to create the charts.
Happy tax day bud…..keep up the good work