Net Worth Update – July 2016 – €59,108 [-€435]

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July’s Net Worth update is a bit lackluster because it took a big knock because my car lost 10% of value according to my insurer.  This was obviously expected but I was waiting for my insurer to revise the car’s value officially which happens on a yearly basis.  This was the hardest hit in depreciation as it was the first one.  The car will still depreciate in the following years but at a diminishing rate as it’s value falls.  This goes to prove that cars are a horrible investment and it’s insane to make this a recurring expense.

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If I were paying the minimum installment, I’d be in a situation where I owe more than the car is actually worth!  … Read the rest