Net Worth Update

On January 18, 2011 I decided to start a new way to track my net worth.  I created a private spreadsheet and zeroed out my net worth.  This way I can share my progress each month, going forward without revealing how much is in my savings account, 401(k), etc.

What assets am going to include:

What liabilities am I going to include:

What is missing?

  • Credit Card debt – Don’t have any except a revolving AMEX account so no reason to put it up
  • Checking Accounts – Always changing and moving kept low on purpose so no reason to track it
  • Cars – I have no idea why people count cars as an asset.  Its transportation not an asset.
  • Jewelry – I joke that The Wife’s hand is worth more than my car…but there is NO way anything is being pawned/sold so why list it as an asset?

In the twelve days since my original post my net worth has increased 2.67%!  I’ll take that kind of gain inside two weeks.  A good portion of my gain was split between a principal payment of $500 towards the evil auto loan, and a tiny bump in cash accounts.

People Shouldn’t Complain About Money If They…

I often have thoughts that aren’t entire posts so I will throw them in my status updates.

I don’t often talk to friends and family about their money situation, nor do I really want to open that line of communications with most people.   However, it is hard to bite my tongue when people complain about money when…

  • Their monthly lease is $500+/month
  • They belong to a gym that costs $150/month
  • Have an iPhone or similar smart phone that costs $120/month
  • Go out Boozing 4 times a week
  • Often eat at restaurants that cost $250/meal
  • Stop for Starbucks 4 times a week at $5 a pop ($80/month) – from Serendipity Smalls
  • Gamble more than you know they can stand to lose
  • WHAT AM I MISSING?

I am not a “budget” person, but the basics of personal finances are simple it doesn’t matter if you make $46,000 or $460,000; if you spend more than you make then good things are unlikely to occur.  I am not saying people shouldn’t buy/do these things, rather all I am saying is that it is hard to listen to bite my tongue when they say to me “I am broke” on their $120/month phone while driving their $650/month car.