December Net Worth Correction = -$38,691 (up 4.34%)

My employer mentioned that we would have a third paycheck in December so they could close out their year. But it didn’t click in my head. When I looked online today and saw a balance that was way higher than on Friday, I about had a heart attack. Clicking further to look at the transactions, then it sunk in that I was treated with three (not two) paychecks in December. Normally, it’s just two a month.

So, after recording that paycheck, my net worth looks a little better for the end of December. It sits at -$38,691.

Now, since I essentially received a paycheck early, that means that I will only have one paycheck in January. That sort of stinks because January income will really look bad and December will be inflated. I’ll have to remember to note that when I post the income and expense report.

With that paycheck, our income is a little over $48,000 for 2006. I am very pleased with that amount.

Now since I have some money early, I’m going to try to send more money towards debt earlier this month ;)

Posted by Tricia on January 2, 2007 at 10:21 PM in Net Worth | 4 Comments »
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  1. MARLENE responded:
    Posted: January 3rd, 2007 at 8:54 am

    Normally if you get paid every 2 weeks, there will be 2 months where you get paid 3 paychecks in 1 month. Why will you be getting only 1 paycheck in January, it should be 2.

  2. Tricia responded:
    Posted: January 3rd, 2007 at 9:14 am

    Hi Marlene. I get paid two times a month on set dates (semi-monthly). Essentially, I received my first paycheck from January early so now I have three paychecks in December and I will have one in January. I still get paid, it’s just off from the usual dates.

  3. Amber responded:
    Posted: January 3rd, 2007 at 5:12 pm

    The company I used to work for did the same thing they claimed that they wanted their employees to get paid in the year they earned the money. We normally got paid on the 5th for the work period ending the last day of the month. Kinda hokey because I see it as all balancing out in the end if you’re there long enough. But then again, I was at a corporate office and they had a lot of retail stores and it possibly saved them having to send people W2s the next year if that check happened to be their last.

  4. Enoughwealth's Personal Finance Blog responded:
    Posted: January 10th, 2007 at 8:07 am

    Net Worth – PF Bloggers progress for DEC ’06…

    Here’s the regular round up on how the various PF bloggers who post Net Worth each month are progressing. I’ve added a couple of new ones this month. Leave a comment if I’ve missed yours out!
    Monthly Net Worth of PF Bloggers for DEC 2006:

    Blogge…

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My Debt

  • Original Debt: $38,495.86
  • Added Debt: $1,781.50
  • Total Debt: $40,277.36
  • Paid: $36,084.36
  • Remaining: $4,193.00
  •  
  • Broken Down
  • Auto Loan 1: $0.00
  • Credit Card: $0.00
  • Student Loan: $4,193.00
  • Auto Loan 2: $0.00
  • Vet Loan: $0.00

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