Talk about a beating in the net worth arena. My net worth tanked from a record high last month, losing over $3,000 in a single month. Ouch, to say the very least! What in the world went wrong? Two things mainly. I chose to make two very large purchases in a single month – not something I generally recommend. I purchased my Glock 19 this month ( in cash, of course ), as well as my wife and I’s 24″ iMac. The Glock is a great insurance policy, and I don’t regret it one bit. The iMac sits in our bedroom, and allows me to work while still being close to my wife. A bit on the extravagant side, to be sure, but I believe that it still made sense in a way. Ok, on to the breakdown!

Liquid Assets

Another month of lower liquid assets. A bit part of this was the purchase of the aforementioned Glock. However, our spending was excessive elsewhere too, as you can see by the higher credit card total. Remember, I do pay this card off in full every month – but it still adds up. We really need to get our spending under control, so we can resume building up a good liquid asset base.

My Cars

I nearly broke down and purchased a “new to me” car this month. However, the price ended up being more than I wanted to spend. This was definitely a blessing in disguise, as I certainly don’t need to take on any additional debt at this point in my life. Plus, the car in question gets probably 12 MPG on premium gas, on a good day. Thank God the price was too high Beyond that, i’m inching toward $5k in negative equity. Slowly.

My House

Nothing new hear – just a 2% increase in equity.   

Retirement

After last months big win, I’m actually happy with the zero performance here. The stock market has been a roller coaster ride the last year and half or so.

Business

Down 34%? ! Partially to blame is the iMac. It’s a business expense, and it is sitting in 0% land right now. Also, I transfered some extra money to my personal accounts last month to help pay the bills. I’m still comfortable with my business assets, as the bills are being paid. I’d much rather not see any large drops like this though.

Overall

Well, a pretty bad month, overall. Spending was the culprit – both large purchases, and excessive smaller ones. I need to get back on the budget track, and stick to the envelope system that has worked so well for me in the past. June is behind is now, thankfully, on to July!