"What am I Worth?" Update

Posted on June 11, 2006 5 Comments

In January, I completed my first net worth inventory. Slightly neurotic, I was concerned that a negative net worth would devastate me, equating all my hard work (academic and career-wise) to nothing – or worse. Despite my apprehension, I completed the exercise, made suprisingly easy at www.networthiq.com. In January, my net worth totaled a whopping $2,600. Underwhelming at best, but not soul crushing.

Today I updated my net worth, and I’m happy to say I’ve more than doubled it over the last six months! Today’s net worth total checks in at $5,413. Wahoo!

I know that most financial types would probably scoff at a net worth of $5,413. But I’m going to celebrate. What I find most remarkable about my financial journey is the effect that baby steps have on a person’s financial standing. By slowly piling up my savings while paying down debt, and working hard in the process to secure a raise and promotion, I’ve managed to increase my net worth positively over the past six months. And that will go a long way towards meeting my annual financial goals and eventually securing those long term goals, too, like buying a condo or going back to school.

So how am I going to celebrate? Well, I’ll admit, I already did. Yesterday I was at Woodfield Mall to pick up a birthday present for my cousin ($40 shirt at Banana Republic) and I managed to pick up new shorts ($40) and a pair of discount jeans ($40) at J. Crew. Yesterday I was a little embarrased about the jeans, because they were a total impulse buy … they were originally priced at $98! … but today I consider them celebratory presents to myself for meeting my financial goals. ANYTHING to justify a purchase, am I right, shoppers?

>>>>>>>>>>>>>>>>

A bit of fun here: according to the business opportunities blog (http://www.business-opportunities.biz/projects/how-much-is-your-blog-worth/),
my blog is worth $47,975.90. If I added THAT to my net worth, it would be huge! Unfortunately, I’m not making any actual money off this thing (yet!), so I can’t really count it as a financial asset :)

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Comments

5 Responses to “"What am I Worth?" Update”

  1. FMF
    June 12th, 2006 @ 1:02 pm

    Good for you!!! Everyone who’s now at $1 million was at $5,000 once themselves. ;-)

    Keep up the good work.

  2. Anonymous
    June 14th, 2006 @ 5:36 am

    I hate it when people talk about their “worth” as a matter of money. I think that a different term should be used. Because God loves us and wants to use us for His kingdom, we are priceless from conception till HE calls us. If it wasn’t for Him, we would be worthless, no matter what the bank statement, etc. says.

  3. Nicole
    June 14th, 2006 @ 2:00 pm

    Good point, anonymous. Personal worth goes far beyond money. But given that this site is primarily dedicated to smart money management in order to help build a secure future, I’m trying to build financial terms into my daily language use. Sorry to disappoint you!

  4. Anonymous
    June 15th, 2006 @ 1:17 am

    The net worth thing sounds interesting, but I don’t want to sign up for an account.

  5. Empty Spaces Inc.
    June 17th, 2006 @ 2:03 am

    um…shouldn’t you be counting you blog in your networth ;-)

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