Net worth

iVillage Member
Registered: 03-27-2003
Net worth
12
Mon, 07-25-2005 - 10:51am

Now that our debt is dropping quickly (under $17k with roughly two years left in repayment), and our savings are adding up, I've started keeping track of our net worth. Anyone else do this? It's very gratifying, and it gives me something to keep track of and work on after the debt is gone.

Our current net worth: $11,000

That's a pretty number. :) It includes the equity in our home, our retirement assets, and miscellaneous other monetary assets, minus our total debt. It does *not* include our vehicles or miscellaneous sundry "stuff." It also does not include the couple grand I have sitting in a business account.

It wasn't so long ago that I was posting that our net worth had just inched into the black. Now it's more than ten grand in the black. Pretty gratifying.

For newbies: please know that you can do this too. I was once (about three years ago) in the deep, dark pits of debt h*ll, worried where our next meal was going to come from and how we were going to pay our rent. It is a long, hard road, but if I can do it, you can too!

Anyone else want to share their net worth numbers?

Blessings,

Heather

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iVillage Member
Registered: 03-26-2005
In reply to: heather_head
Sat, 07-30-2005 - 8:59pm

This is tough to type, but I think our net worth is right about at $0. It may even be -$1000. I know it sounds awful, but we're just getting out of debt, and we JUST bought our house 6 months ago. Its value has gone up about $10,000 in the last 6 months, I've been told, which is shocking. I don't live in a traditionally "hot" real estate market, but the sellers underpriced the house because they had to move ASAP. Oh, lucky us. We owe about $10k for other "stuff", so I think our net worth is about $0..

I forgot to add. . . we're only 21 and 23, though. We have some time, and we're saving for retirement and living frugally.

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iVillage Member
Registered: 02-19-2004
In reply to: heather_head
Sun, 07-31-2005 - 11:02pm
Considering there are people in their 30s, 40s, 50s and beyond that are at $0 or are negative, you are in an AWESOME postion! If you save modestly and invest wisely, you will have a very nice retirement savings by the time you are 65 or sooner.

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