Wednesday, December 1, 2010

Net Worth

I don't keep track of my current net worth the way that most people do but I keep my own version.  The reason I don't do it like most is because I don't figure that I will actually sell some things.  For instance, most people track their home net worth by subracting their mortgage(s) from their home value.  That is very deceiving because there are a lot of fees to actually sell your house and you would have to pay them to gain access to that money.  We also have a couple paid for motorcycles and another vehicle but I don't see us selling them so I don't include them.  Anyway, here goes. 

Assets
Savings  63,009.61
Retirement  12,201.14
Stocks  5,655.59

Liabilities
Student loan  7,576.48
Car  18,950.00

The huge increase in savings is because we sold our old house but have still not closed on our new house.  The car loan is at 0% and my student loan is at 4.5%.  I only keep a cushion of $500 in my checking account and I don't include that.  I also do have a business checking and business savings but these totals don't reflect those balances.  The retirement is just mine.  My husband has a 401K and a Roth IRA but I don't include those balances.

1 comment:

  1. I've just started getting more detailed about my networth - and wasn't sure how to factor in what we may or may not sell. While we don't plan on selling a vehicle if an emergency occurred - we would in a heartbeat.

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