Wednesday, February 28

February 2007 Net Worth Update

As mentioned yesterday, this was a very good month for me. My net worth is up 4.5% to $612,500. About one quarter of the gain is from my investment account which was up even more before yesterday. When the dust settled I was off $7,000+ in one day! Oh well. Some of it came back today and I'm still up for the month so I can't complain too much.

The majority of the gains are from increases in receivables and cash accounts due to cheques arriving from clients. As I have mentioned before, my income potential is very strong right now, with my slowness in invoicing being the major limiting factor. Out of the $37,200 I have on my books as receivables, approximately $15,000 of it is not invoiced yet! Starting next month I am only going to include amounts that are actually invoiced.

I anticipate earnings slowing a bit over the next couple months as I wrap up a couple of major projects and shift to a wider range of tasks. There is a lot of lost billable time when you are switching between tasks throughout the day. Also, I hope to go on vacation in April so that will limit earnings as well.

Today I tried to take a sick day because I felt like I was fighting something off. It didn't work too well, as my clients kept calling with urgent requests.
Today's billable hours: 4.0
Today's contracted hours: 1.5


Canadian Dream said...

I'm enjoying your blog so far. Keep up the good work and way to go on have that high of a net worth!