We calculate our net worth as listed below. We don't include the value of our possessions, we round down to the nearest hundred for assets, and we round up to the nearest hundred for liabilities.
Assets
1. Cash - $23,000
2. Stocks - $11,900
3. Retirement - $32,100
4. Home - $130,000
5. Cars - $17,000
Liabilities
1. Home - $73,900
2. Car - $12,000
Total Net Worth = $128,100
Increase/Decrease = Up $3400 from last month
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 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.
Posts
1 day ago
Net worth at year-end 2009 -$2,261.
ReplyDeleteNet worth at end of Feb $3,539.
MikeS, thanks so much for posting too! It always feels better not to be the only one, right? That's a huge % increase...would love to see your updates in the future too. Good luck. :-)
ReplyDeleteWill do. I track it monthly, but only record the year-end values in my spreadsheet. Fingers crossed that when I have my annual review tomorrow, that the bonus will be enough to wipe out $7K of credit card debt.
ReplyDeleteBest wishes from our end too!!! Hope to hear great news from you tomorrow. :-)
ReplyDeleteWell, I've got partial news. Had the performance review, but won't find out the bonus number till next week. The positive news is that I got an Excellent rating, so I'll be getting a bonus. Just don't know the size yet. Fingers are still crossed that it wipes out the old business debt.
ReplyDeleteWell, at least your waiting on good news...still would drive me batty! Hope the bonus is HUGE...we'll get another update next week, right?
ReplyDeleteAs soon as I find out, I'll post. I've heard rumors that bonuses have been basically in the targeted amounts. Based on my salary tier, that would be 14%. If so, that would mean an $11,000 bonus. If that's true, I can kiss the business debt good-bye. I'll post an update next week when I hear.
ReplyDeleteMikeS, heard anything yet?
ReplyDeleteNot yet. I'll find out by Friday at the latest as the paycheck gets deposited on Monday.
ReplyDeleteWoo-hoo!!!!!!! Found out the bonus and raise amounts this morning. Salary raise was 3%, which was merit based on inflation. Sounds like some people only got 1 or 2%.
ReplyDeleteBonus was $15,000. Had not even contemplated something that high. Bye-bye old business debt. Can also get some needed repairs on my car, with money left over. Yeah!!!!!!!
Yay!!! Bye, bye debt and hello working car! Congratulations!!!
ReplyDeleteLooks like you are off to a good start. Have you considered eliminating the debt on your cars while having a little less cash? Let the compound interest work for you and not against you. Good luck growing your net worth!
ReplyDelete