Another Step in the Wrong Direction

I don’t have the solid numbers for July just yet, but as we close in on the end of the month, it’s looking like my net worth will take a second consecutive 12% monthly drop.

Sounds bad, but I’m not really looking at it that way.

The biggest expense, again, this month was the siding project. It’s still not done yet, but I’ve written the final check just to pretend the money is gone and to keep it off of August’s tally sheet.

The next biggest hit came in the form of losses in my 401k account. You couldn’t really realistically expect the market to keep going up at the rate it has been for, well, the entire year so far. Just last week, the balance dropped over $3k and as of this morning, it’s about where it was 3 months ago.

Big expenses and market downturns never help the asset side of things.

But on the bright side, I’ve still managed to chip away at all of my debts at an accelerated pace. The weekly $25 to the mortgage is making a sizeable difference, my auto loan is so far ahead that a payment isn’t due until 2008, and the credit card balances continue to fall — with the highest rate card falling the fastest.

As long as the debts continue to fall, the assets will take care of themselves in time.