Posts Tagged ‘Net Worth’

Couples become financially secure by building their net worth. Net worth is calculated by subtracting your liabilities (what you owe) from your assets (what you own). It is a snapshot of where you currently stand. There are lots of net worth calculators online, such as this one from Get Smarter About Money or, you can…

I like to use the week between Christmas and the new year to take stock of my personal finances, reflect on the year that was, and plan out my goals for next year. I’ve already shared my 2017 financial goals, so now it’s time to update my net worth statement. As you know, I’m on a…

It’s normal to compare your financial situation with others to see how your finances measure up. Indeed, if you’ve ever calculated your net worth, or even tracked your spending, you probably enjoy reading other net worth reports and spending journals. The problem with this type of financial voyeurism is that we’re often comparing apples and…

With 2015 wrapping up I wanted to take the time to update my net worth statement and check in on my financial progress. It’s another year down and another year closer to achieving my goal of becoming a millionaire by 41, and reaching financial freedom by 2025. Even though I’ve been frustrated that the past…

I like to take a snapshot of my financial situation every six months to review my progress and make sure I’m on track to reach my goals. I want to be a millionaire by the end of 2021 – the year I turn 41 – and become financial free by 2025. That’s the dream, anyway.…

Do you ever wonder what others are doing with their finances and where they stand? My usual, rather pessimistic, thought is that I’m not doing nearly as well as my peers. I came across this calculator on CNN Money that gave a median net worth comparison for income and age. My income is pretty low…

I like to take a snapshot of my finances twice a year in order to see how my financial plan is progressing and whether or not I’m meeting my goals. These net worth updates are encouraging because they reveal how the compounding power of savings and debt reduction add up over time. Related: Net Worth…

This year has been heavy on spending with not much focus on saving.  The spending is purposeful, though, as we borrowed $35,000 on a line of credit to develop our basement, which will increase the value of our home. The interest rate on the line of credit is 3.5 percent, so using it to pay…

As I put the numbers together for my 2013 year-end review and net worth update I realized that I made two critical errors in my financial plan this year: my financial goals were wildly optimistic – I wanted to achieve a net worth of $360,000 – and I got lazy and failed to properly execute…

We’re halfway through 2013, so now’s a good time to take a big picture view of our finances to see if we’re on track.  I like to update our net worth and review our financial plan a couple times a year to stay on top of our goals. The last time I updated our net…