I think not! LOL
Networth. Sharon from Musings of a Midlife Mom said:
I like to do a Net Worth sheet and instead of staring at the debt, I enjoy seeing my net worth go up..even if it is only a couple hundred dollars. You’ll be debt free before you know it, and it will feel wonderful!
Thank you, Sharon. Those are some great words!
Well, I have never checked out my Networth. Oh…well, minor calculations here and there. This time I decided to give Sharon’s cue a try at NetworthIQ. Plug in the numbers and wha-la! I was amazed at its ease of use. And I made it simple on myself by having my numbers already handy (from my spreadsheet).
I just started so there is no curve
Results: I am no where close to J. Money’s Net Worth or even A Gai Shan Life’s NW (totally jealous – there both young and wealthier – but deserve it. They work hard at it).
But, I didn’t gasp as much I thought I would. What saved me from the loud gasp? My retirement fund. I started it at my entrance to my 30’s and have steadily built it up. What is killing it? My Student Loans. Bleck!
Do I like NW or Spreadsheet Tally Better? The Networth gives the larger overall view. Where as the spreadsheet give me the annual comparison view. I would have to say that I plan on using both.
However, I do like the Networth view because it kind of hypes me more to get it out of the negative.
Thanks for the idea to try a Networth graph. Now I am brewing ideas on how to take it out of the negative!
If you liked this article than you will probably enjoy this one, too: What’s in Your Wallet?
Have you used Mint.com? I love love love it. I have found it the easiest for tracking my expenses (especially since we charge nearly everything in order to get the miles for travel to Australia). But, it also will track your net worth. I like watching it. Mine is still negative right now since our retirement funds were killed and are still not back up over what we owe on our house, but it inching towards zero and will soon be in the positive zone, which is exciting to watch!
I have used Mint. Unfortunately my credit union information does not come up automatically. I would like to give it a try again. It is a very user friendly program.
I did the networth based solely on my own account and did not include my DH. If I did that, then I believe the house would put in me in the positive. But, I wanted to see where I stood.
Time to put some positive signs on that dollar amount. 🙂
Thanks Christine! Now sit back and watch your networth grow! And it will! You will be in the positive before you know it!
You’re welcome, Sharon! That is true… as I pay down the debt the Networth should grow. I just realized if I didn’t have my Student Loans that I would be $4,000 in the positive. Geesh. 😉