Net Worth Update
November 3, 2009 2 Comments
I know that Networth, at least while it is negative, has very little value. Especially since I have debts. But I still love figuring it out every month.
My assets I put as the following:
* $500 – an average amount of money I will have in my checking account at any one time during the month)
* $1,115 – Stocks – I update this value every month
* $7,545 – Retirement funds (in mutual funds) – 10% of my salary given to me by my job every month into a TIAA and Fidelity retirement account – I update this value every quarter, this was updated this month
* $5,212 – Personal mutual funds – Received upon my mom’s death, not necessarily designated for retirement. I update this value every quarter, this was updated this month
* $1,125 – Emergency fund
Total Assets: $15,497
My debts I put as the following:
* Credit card debt – $13,625
* Student loan debt – $15,232
Total Debts: $28,857 (wow I don’t think I’ve ever actually added up those two numbers before – HOLY HELL!)
My approximate net worth as of November 2nd, 2009 is -$13,360. That’s right – I’m over $13,000 in the hole if I were to take all my assets and use them to pay off my debts.
While that is mildly depressing, what is truly exciting is how much my net worth has RISEN in the past 6 months.
November 2009: ($13,360) – such a jump because I updated my retirement accounts
October 2009 : ($17,731)
September 2009 : ($18,315)
August 2009 : ($18,982)
June 2009 : ($19,319)
May 2009 : ($20,672)
As you can see from above, in May of 2009 – I was nearly $21,000 in the hole – but now, six months later – my Networth is $7,000 higher!
It will be an exciting day when I finally get to a positive Networth – and an even more exciting day when I finally get out of debt for good!
Here is a pictoral representation of how my Networth has gone up in the past six months from NetworthIQ:
I’m definitely on the right track – I can’t wait to break even!