Comments on: 2008 Net Worth Goal: $100,000

By: What is your Net Worth? - The Frugal Expat

What is your Net Worth? - The Frugal Expat — Fri, 15 Jan 2021 07:44:24 +0000

[…] Sexy, downloaded it, modified it, and now I use it for my purposes. If you are interested in it, here is a link to that post with links for that excel […]

By: J. Money

J. Money — Sun, 24 Apr 2016 14:15:29 +0000

In reply to Jaymee.

It’ll be immensely bigger for you too if you keep going – no doubt! We all have our frustrating periods (my worth has pretty much stayed flat for the past year+) but in the *long run* it’ll be most magnificent ;) Just gotta use time on our side!

By: Jaymee

Jaymee — Sat, 23 Apr 2016 00:02:51 +0000

Wow! This was 8 years ago and I’ve been reading your net-worth updates since I found you a year ago!

I must say this is very inspiring – seeing where you were and where you are now. I’ve been frustrated at the slower pace of increasing my financial net-worth but then again it’s teaching me to be patient. I wonder what my “8 years from now” will look like :)

By: J. Money

J. Money — Fri, 22 Apr 2016 21:29:23 +0000

In reply to Thinking Thrifty.

Hey, cool man!

Way to start tracking it all – it’s one of the BEST things I’ve ever done. Motivates you like crazy and seeps into all your habits, you’ll like it :)

And gotta thank you for getting me back to a post that’s now over 8 years old – wow! So crazy to read through this and see how far we’ve come, along w/ all the old comments here…. bad ass.

By: Thinking Thrifty

Thinking Thrifty — Fri, 22 Apr 2016 14:39:07 +0000

Hey J. Money, I started on my journey to financial freedom 4 months ago and the first stop is my own home! Stumbled across your Net Worth posts from the Rock Star Finance list. I have to say you’ve inspired me man! I’ll be posting this monthly now to keep me on track. I have also used your New Worth planner to do so. Great blog man, you’re an inspiration!

By: J. Money

J. Money — Thu, 24 Jan 2013 14:46:09 +0000

No problem! I love all this money stuff and spreading the word, so I’m glad you’re getting some help from it! Hope your fam is nice and healthy now :)

By: SusanC

SusanC — Wed, 23 Jan 2013 18:50:13 +0000

Ohmigoodness, I TOTALLY spaced on coming back here to check your answer. :) The holidays + one month of sickness in our family have gotten me off-track in my “get-our-financial-life-in-order” planning. Thank you so much for your reply and, yes, those links TOTALLY help me out in setting up my net worth spreadsheet! I wasn’t even thinking about having the mortgage/value on both sides, which obviously makes sense and balances it out.

Thank you again…not just for this post, but for all of your encouragement, positivity and awesome attitude about spending/saving/investing!
Cheers,
Susan

By: J. Money

J. Money — Fri, 14 Dec 2012 02:27:51 +0000

Wow – you found an oldie post on here! Haven’t seen this one in years, haha… But you bring up some valid questions :)

I can’t recall exactly the way I felt back then on there other than reading this post just like you did, BUT I can say that I most definitely agree that mortgages and home values should both be included in net worths – at least if you want an overall snapshot of things (some people track their net worth for all type of reasons, but for the true one – “assets minus liabilities” – it should be included).

Back then I was just learning about stuff and putting together my very first net worth snapshot, and I could have been just doing a shortcut of taking what it was worth and subtracting the cost of the mortgages – know what I’m saying? So it’s still IN there, just not laid out like I think it should be. And like how they are now:

https://eliteedgemoney.com/2012/12/net-worth-update-529-mortgage-increase/

Does that answer your question? I do think it’s important to list both sides of the equation there – the value and the debt that comes along with it or it gets all kinds of unbalanced.

Here’s an article I did one year later too if it helps. It talks about what my net worth would look like with and without house stuff in it – it’s pretty interesting:

https://eliteedgemoney.com/calculating-net-worth-does-home-value/

Hope this helps! :)

By: SusanC

SusanC — Thu, 13 Dec 2012 22:03:34 +0000

Hi! I’m trying to get better about focusing on growing our money. So, I started going back on your Net Worth posts to see how you have amazingly grown it so quickly to such an impressive number! My question, though, is why you don’t consider to be the $$ left on your mortgage to be a liability? Is that because you’re basically saying that you could sell it and it would be off the books? (Whereas there’s nothing I can do to get rid of a school loan?) If that’s the case, why wouldn’t a car loan be the same since you can get rid of it by selling the car?
I guess I’ve always thought we need to count our $400K mortgage as a liability, which basically wipes out all of the value of my assets, plus a lot. Anyway, don’t know if you’ll answer, but just curious about that! Thanks for all of your awesome posts and wisdom. :)