January was a brutal month for our household net worth. My spreadsheets go back as far as August 2008. Since then, this is the first month we booked a loss.
During January, two of our investment properties dropped significantly in value per Zillow.com. Additionally, we booked expenses for:
(1.) Body work for one of our cars
(2.) Bought our first flat screen TV
(3.) Made annual insurance payment on investment property
Our investments in the stock market also dropped in value, but by a small amount relative to the total $27.3k decrease. Unless the stock market tanks, our Net Worth should increase to where it was last month in 3-4 months.
On a positive note, we paid off the mortgage on one of our three investment properties this past December. We bought the house in 2005 for $86.8k.
Our next major purchase will be a new/used car to replace our '98 Acura with 141k miles. This summer we will be able to buy our next car TAX FREE. I'm looking forward to this upcoming purchase since our household operates two high mileage cars (wife's car has 86k miles) and want a low mileage car for road trips.