For anyone new to BFS, I post a net worth update at the beginning of every month in order to keep myself motivated and to involve BFS readers. Please feel free to ask questions, make suggestions, or even post your net worths too. I am a participant-motivated blogger, so please jump on in.
I calculate our net worth as listed below. I don’t include the value of our possessions, I round down to the nearest hundred for assets, and I round up to the nearest hundred for liabilities. I also don’t include my husband’s pension account since I’m too lazy to keep up with it and it shouldn’t actually matter until he retires anyway.
1. Cash – $21,400 ($100 down since we paid $2200 in property taxes, yuck…they ate all of our extra cash this month)
2. Stocks – $18,800 ($300 up)
3. Retirement – $42,500 ($1700 up)
4. Home – $130,000 (same)
5. Cars – $16,000 (same)
1. Home – $68,700 (down $600)
Total Net Worth = $160,000 instead of $157,500
Increase/Decrease = Up $2500 from last month
Property taxes hurt – can I get an “Dang Skippy”?! Oh well, at least the market did well for us. 🙂
I base the value of our home on two things: comparables selling in our neighborhood and the estimated appraisal by Chase Home Value Estimator. I will always estimate very low.
I base the value of our cars on Kelley Blue Book’s Private Party Value of our vehicles in “Good” condition truncated down to the nearest $1000. For example, if my car is valued at $4600, I’d calculate that as $4000.
Please feel free to visit the archive to see our past net worths. If you really want to see an impressive net worth, check out this High Net Worth Balance Sheet!
FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year. I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!). Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!