Friday, April 20, 2012

Tracking Net Worth

In January of this year, I started tracking my net worth each month. I use a calculator from CNN that I really like. I keep it pretty simple and just count actual funds in various accounts (retirement, savings, bonds, etc.). I don't record my checking, because all of that money is budgeted to be spent each month. I also don't record actual belongings like my car or jewelry. I understand it has value, but my goal is to calculate my financial progress. I also put in my student loan and then hit calculate.

It's been really cool to see how far I've come in just four months! I don't feel comfortable sharing numbers...I'm not anonymous. BUT, I have increased my net worth by 700% since January! Yes, that's seven hundred percent. And that includes a trip to Europe. This number has been shooting up because I have been putting around 50% of my paychecks toward either debt or savings in the last four months. And my tax returns helped for sure, since I paid $2,000 to my student loan from that money.

I'm really glad I started tracking this number, it's been a fun motivator. I'm also glad I didn't start when I was in a lot of debt...then I think it would have just been depressing.

Do you track net worth? Do you find it satisfying or depressing?

1 comment:

  1. I haven't tracked it, but intend to start doing it.