Comments on: Net Worth Check Up: $224,724.81 (Up $3k)

By: J. Money

J. Money — Fri, 13 May 2011 15:33:34 +0000

There you go!!! That’s usually the hardest part – well done :) You’ll have to chime in and let us know how it’s going each month when I put out the next one.

Cool Google Reader suggested this site too!! Haven’t heard that one before, but I like it! :) Happy weekend my new friend.

By: myloverswifer

myloverswifer — Thu, 12 May 2011 23:53:00 +0000

Wow…thank you Google Reader for suggesting this site.

You have a great site going here…lots of practical information. I took your advice and calculated my and my husband’s net worth. It ain’t pretty…but at least we have a starting point.

By: J. Money

J. Money — Sun, 08 May 2011 13:32:29 +0000

Up until recently (and even now it’s up iffy) I wasn’t able to refinance as we’re too far underwater. Even w/ the new rules that came out a while back, we still weren’t qualified. I am in talks w/ our current lender, though, and it IS looking good so far, but I’m not putting too much stock in it yet until everything’s singed and dated. fingers crossed!

By: David

David — Fri, 06 May 2011 19:34:47 +0000

refinance? 6.8% seems too high for today’s environment. why not use some of that cash savings to refinance into a 15 year?

By: J. Money

J. Money — Fri, 06 May 2011 15:19:07 +0000

@B Kelly - Haha, yeah it's def. weird sometimes but I'm used to it by now ;) It's what got me into blogging to begin with! I saw My Money Blog do it and I was blown away. Congrats on starting to track yours!!! That's the most important part whether you share it or not. @retirebyforty - Unless you find a way to make $500 more on the ol' blog ;) @Jen - Yeah, I saw that!!! Your GOLD asset is hilarious, I love it! haha... put you in my roundup this week - congrats! ;) (for starting to track it, not for making it in my roundup... although that is cool! haha...) @Jesse - I know, that was what I was gonna do but then it just looked funny for me - like I was doubling the amount of line items for the same thing. I think what I'm gonna do is try this for a few months and then revisit it again. And probably end up w/ exactly what you're saying. I like to take baby steps ;)

By: Jesse

Jesse — Thu, 05 May 2011 17:59:11 +0000

I would recommend including a “liability” for your estimated quarterly tax payment. As you earn money each month, you set aside a portion in your Tax Fund savings and add a rough estimate of what you’ll owe to the Tax Liability line item (I usually keep it simple and just use a fixed percentage of revenue). When it comes time to pay, both of those items will drop together so you’re net worth calculation won’t jump around every quarter.

By: Jen

Jen — Wed, 04 May 2011 22:23:09 +0000

Thanks J Money, finally did my Net Worth for the first time and posted it on my blog. Guess I’m kinda starting at the bottom.

By: retirebyforty

retirebyforty — Wed, 04 May 2011 11:41:31 +0000

Thanks! April was pretty good overall, but I think we’ll be around -$500 in May. We’ll see how it goes.

By: B Kelly

B Kelly — Wed, 04 May 2011 05:03:11 +0000

wow! to actually post your net worth for all to see is a sure sign of commitment… i’m going to do mine now in excel first.. and maybe one day soon i’ll have your courage. Thanks for the post!

By: J. Money

J. Money — Wed, 04 May 2011 03:25:57 +0000

@MacroCheese - Mainly cuz I like to have an overall view of *everything* major with my finances, but also because I have all those mortgages and you HAVE to include that in there so it balances out. Or else it's not "accurate" - at least in my opinion. Here's a post I did about it :) https://eliteedgemoney.com/calculating-net-worth-does-home-value/ @Uncle El - My Work For Yourself account was never listed separately in these breakdowns, only internally in my accounts. For net worth purposes it goes under "cash" - although in reality it should now be considered my "business emergency fund!" haha... my goal's dream has come alive ;) My Buffet Investments are included in my IRAs section since I do all stock & mutual fund investing strictly in my retirement accounts. Because it keeps me calm and collected, but also leaves me more money to "play" with too. And of course, you don't have to worry about taxes and all that in some of the cases ;) *ahem* Roth IRAS You've got a good memory, friend! @Jennifer Lissette - Awww you're welcome! You're making me blush over here ;) I am SO GLAD my spreadsheet helps out, and even more so that you are coming up with your own ways to watch your progress too. That is very VERY good to hear, and I hope others are reading that too and getting pumped up cuz it really DOES do wonders to your whole outlook! Even if it goes down, etc, like you mentioned. You are awesome, and I congratulate the two of you :) @Peliroo - You know I'm here for you ;) @retirebyforty - Awww that's not too bad! just a little bit - I was expecting like down $2k cash flow or something, haha... 3 months huh? That is so cool. Your baby is adorable!!! If you guys can rock that 1 paycheck rule, it would be amazing. Life changing even. All that time spending with family and stuff you actually CARE about? Crazzzzzy. I wish you nothing but success my friend :) And feel free to call/skype/email anytime! I'm at home too, just baby-less... for now ;) @Jenna, Adaptu Community Manager - We're all in this thing together ;) @JoeTaxpayer - Haha - even though I agreed to it myself? I can't blame the banks on that, I was the idiot who signed up for it ;) And I can afford it, so no hardship there unfort... BUT, after 2 years of trying to refi and couldn't (the whole underwater thing doesn't usually help your cause), I may have broken through. New post about it coming soon - and it will be a much better deal. *IF* it comes true. @Ruby - Well that's what I like to hear now! Keep us updated on how it goes :) Maybe later you can do a blog post for me on starting from scratch and how it all went? Who knows... either way, you're gonna be on the right track!