We intentionally let the depreciation for our two cars and other assets (jewelry, watches, furniture, electronics, arts, collectibles, personal properties, etc.) to fall at a much faster rate. We also paid the six-month insurance premium for our two cars this month.
We will slowly roll part of Other Assets into Home for simplicity. Even though the value for Home is listed per Zillow’s price, but we need to account for the seller’s fee and/or closing cost if we ever decide to sell it. Thus, we don’t have to subtract the seller’s fee and/or closing cost out of the Home’s value by letting part of Other Assets to cover this short fall. In another words, part of Other Assets are included in the value for Home to account for future closing costs and seller’s fee.
By the way, we made another huge push toward overpaying the mortgage. We notice that our net worth over time has constantly increased. To me, it’s very odd as I expect it to be more up and down–although I’m not complaining. That means we haven’t seen the worse yet, and definitely there will be a few big “dips” along the way before we reach our goal of financial independence. Therefore, we consciously decide to reduce our debts and prepare for those “dips” when the good time is still rolling.
Lastly, unexpected expenses for this month include the repair for our central air conditioner that broke down. We also spend money to invest in a very good 2-cycle gas-powered string trimmer and a professional-grade lawn edger.