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Written by money funk on February 2, 2010
With a New Year, comes a New Spreadsheet to track my Net Worth. I have put our family budget behind the scenes and replaced it with a 2010 Net Worth Spreadsheet.
Changes: As you know, my husband and I have separated our checking accounts. So… I am now tracking only my Net Worth, along with a quick note of the current Total Family Debt.
Christine, why is your Family Debt Total in the Negative? The reason for the Negative Family Debt Total is because last month, the personal loans to consolidate our debt, from Lending Club and the Credit Union, exceeded the necessary pay-off totals by $1800. This is the reason it reflects as a negative in our debt account, even though the money is sitting quietly in the savings account.
New for Me: Next month, I can start comparing total differences for each category. Usually, I just compare just grand totals. Now I will be able to see each category to compare where I might improve.
Conclusion: There is a positive change over the prior month by $1263. I will be excited to see the comparison totals next month.
Not totally exciting since I cannot do personal comparisons. I promise, it’ll be a bunch of fun Next Month! 
Want to see great Net Worth Progress? Check out DeliverAwayDebt’s January Net Worth.
Article by Christine
Hi! I am the mind behind MoneyFunk.net. What started out as a blog to hold my family accountable for climbing out of $89,000 debt, has morphed into a community of bloggers & readers all vying for the same thing – ERADICATING DEBT!
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Great stuff…. my net worth is very negative but my debts are in a place now where, fingers crossed, they should not grow and I am making a payment each month…. so ignoring the debt I can start to grow my net worth and maybe one day just wipe the debts clear.
That will be the day! I think with a solid plan, anything positive can be achieved. Looking forward to hearing about the day you are debt free.
I think you mis-stated your position. Your net worth seems to be $1263 better than last month, but not positive overall. Unless I’m reading wrong, your net worth is still negative.
You are doing a great job and soon your net worth will be postive!
Thank you for pointing that out, Sherry. Wording fixed. I was trying to jump to possible conclusions.
I do hope to make 2010 an even better year than last. *fingers crossed*
I like how you used the terms assets and liabilities. I think I need to revise my budget with these terms too. I also like the color coding. Keep up the great work!
Thanks, Little House.
I am kind of fond of my new spreadsheet. I think it is easier to read/scan. I love color coding. And I also love positive numbers! LOL. Can’t wait til I am out of the Negative NW.
Good progress Christine! Whoo hoo. Are your student loans at a reasonable level? Don’t forget to write the interest of your income!
Interest of my income?
Actually, I am heart broken knowing what I bring in vs what is being paid towards debt. Alot of it gets paid towards cost of living bills (cell phone, internet, Costco…). And my student loans are at a 3.25%. I’m good.
I think keeping track on this flexo mimicked balance sheet will help put my focus into perspective.
Sorry write your interest OFF your income. It’s totally tax deductible. 3.25% is cheap too! Nice!
Don’t feel bad. Interest is an exchange for the services money brought you then. Fair trade!
That is what I thought you meant. But there is not much to write off in regards to interest. Ya, I got a real good deal with the SL. Just wish I had something to show for it. ha!
Can’t wait to see your month to month comparison. Btw, to answer your question, Inglorious Basterds is a great movie, but beware of long dialogs to which you have to pay deep attention to. Another great Tarantino piece.
Thanks! I just wish what I brought home equals the debt paid! LOL. Right now, I am working at building passive income to hopefully supplement my income.
Glad to hear the movie was good. Going to need to rent that one and that Las Vegas one, too! I don’t understand how such a weird person as Tarantino can make such great stuff. LOL.