Trying to build wealth without knowing your
net worth is like driving blindfolded
Crunch your numbers and stop crashing about in the dark
Every month I track our families net worth
And you should too
When I was starting on my journey to Financial Freedom reading blog like Budgets are Sexy helped me see real, everyday people could build incredible wealth.
It will keep you accountable! Every full moon I get tempted to delete my banking app and go on a spending rampage but knowing i have to publish the numbers each month keeps me in check. Most of the time.
Motivation. I´m stoked to see our net worth increase each month. Even i´m surprised at how addictive it has become!
More and more peeps in the Financial Freedom space are publishing their numbers and it only serves as inspiration to me. I post my wins and my fails. Man, have there been some fails!
Unfortunately money is taboo in our society and personal finance literacy isn´t taught in our schools. WTF is that all about?!?!
I hope that as more people publish their financial journey we will collectively help change the view on finances so our kids don´t have to learn the hard way like we did.
Soooo, WHAT IS NET WORTH?
Your Net Worth is basically the value of all your stuff minus the value of all your debt. Simple right?
What to include in “your stuff” or “assets”
- All owned properties, including your primary residence
- All investment accounts, pension funds, saving plans, hard cash
- Businesses you own
What to include in “your debt” or “liabilities”
- Car loans, bank loans, personal loans
- Credit card debt
What not to include anywhere
This part is up for discussion, some people choose to include every last spoon in their net worth but I suggest you do not include depreciating consumer purchases like cars, mobile phones and golf clubs.
For some mind-spinning Net Worth inspiration check out this list over at Rockstar Finance to see where other people are at on their path to Financial Freedom.
Where we´re at, €600,00!!
Net Worth Reports
December – Net Worth €354,310 (-1.87%) (-€6,786)
November – Net Worth €361,096 (2.1%) (€7,593)
October – Net Worth €353,503 (14.2%) (€44,204)
September – Net Worth €309,299 (-6.5%) (-€21,545)
August – Net Worth €330,844 (0.4%) (€1,586)
July – Net Worth €329,258 (0.8%) (€2,731)
June – Net Worth €326,527 (1.8%) (€5,982)
May – Net Worth €320,545 (2.7%) (€8,664)
April – Net Worth €311,881 (3.5%) (€10,615)
March – Net Worth €301,266 (0.7%) (€2,315)
February – Net Worth €298,951 (0.7%) (€2,225)
January – Net Worth €296,726 (N/A) (N/A)