A comment on this post made me realize that I haven’t really been tracking my networth. Calculating and tracking my networth was one of the very first things I figured out when I became interested in personal finance back in 2006. I used to input my balances on a cool site called NetworthIQ and enjoyed seeing the increases listed by percentage each month as well as comparing it to the previous month’s numbers. It appears however that whoever owns the site has abandoned it because I can no longer get in to update my stats. It’s been 2 years since I’ve logged in. Since the site no longer works I don’t have a historical record of my networth and I can only guess from the last screenshot I took:
Here’s a guesstimate of my networth for 2006 – 2010
Early 2010 I finally broke past $0 finishing off the year with a networth of $7,146.07. At the end of 2011my networth stood at $22,615.97.
I’ve been posting quarterly updates on my yearly goals, but I’m going to switch to monthly updates. Because of the distance between updates if I go by quarters I sometimes lose sight of my goals. I know I can easily remind myself by looking at them, but posting about it and having to think and analyze what I’ve done is really helpful in achieving them. The shorter time-frame keeps things fresher in my mind and since I also budget by the month it’s easy to set goals for the year and break it into 12 pieces, working it into my regular networth updates and monthly budgeting.
I tend to sit down on the last day of the month and make my plans for the coming month and look at the totals for the last month so aligning my networth updates and yearly goal check-ins with that only makes sense. Geek-tastic! So, here’s the first go at checking in on things monthly!
I don’t have a complete chart of balances for September yet but as of September 31st my networth stood at $45,536.51. (Liabilities $68,338.26, Assets $113,874.77) Not bad! That’s an improvement of more than $25k from the start of the year. I’d like to say that’s because I saved a lot.. but in reality it’s because I saved a bit and I did more work on my house and it subsequently increased in value. (I’m still taking the value of my house at about $10k less than what I would even consider putting it on the market for.)
Next month I should have a complete breakdown of increases and decreases by account! Oh the excitement…
Do you track your networth?