Net Worth Update

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!


2 Responses to Net Worth Update

  1. MPP says:

    Wow, that is so incredible that you’ve made a $7,000 difference in 6 months. It may seem like you’ve got a long time in front of you before you break even, but each month you are getting so close. Keep it up! I know it’s probably very hard to keep the intensity, but you are doing so well and living frugally now will definitely pay off in the future. We’re all so proud of you!!!

  2. Jessie says:

    That is an impressive spike upwards in your net worth! You are on such an amazing trend – keep it up!!! We’re rooting for you!

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