Thursday, February 4, 2010

Net Worth - Better Than I Thought

So I have been reading a lot of financially related blogs and I just read one by Spilling Buckets - Positive Net Worth: The Day of Zero! and they were celebrating that fact that after just under a year of budgeting and frugal living, they have achieved a positive net worth. The whole article gave me a great deal of encouragement. I have felt trapped by my debt mainly for the last year. Really only since I have set my goal of being debt free. Since then I have realized that I have been and still am wasting literally tens of thousands of dollars on interest. But if I look at my situation in terms of net worth I am not doing too badly.

Value Owed
Home $60,000 $41,000
Second property $15,000 $ 9,000
Vehicle $10,000 $ 7,800
Other Debt $ 900
$ 2,000
$ 8,000
$ 1,800

$85,000 $70,500


Based on my rough numbers I have a net worth of $14,500. Which is remarkable because my net worth will be really rockin' in less than a year. I am energized and my resolve to keep on this path is solidified.

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