Net Worth

Net Worth for October 2008 – Boring Net Worth Updates Might Become Less Boring-er?

I haven’t done a net worth update in a very, very long time.  To be honest, I haven’t done a net worth update in such a long time because my net worth updates are kind of boring.  Nothing really exciting happens month after month as my wife and I consistently spend less than we earn (or earn more than we spend, depending on how you like to look at it).  I promise to try and think of a way to make these more interesting – both for you and for me – but until that day I think we are going to have to live with me talking about how my net worth grew by such and such percent and then show a neato graph that shows how we have been making headway along the trail to financial freedom.

October 2008 Net Worth

Since our last update (for the month of July, 2008), our networth has grown by $2388 (8.67%).  This averages out to over a $700 growth in the months of August, September, and October – which is what I was projecting we would have given my predictions with the loss of my wife’s employment and our move in with a family member.  And all that growth despite the dismal state of our very small stock portfolio.  I hope November is an even better month!

Here are some ideas that I have to make these less boring:

  1. Come up with an early retirement “number” and begin tracking our progress along this goal
  2. Develop a graph that charts the changes in our asset and liability classes.  Right now the only liabilities that we have is the balance on a credit card that we pay off in full whenever it is due.  This would not be interesting at all to make a graph about.  Something that would be potentially interesting would be to track how the different components that make up the asset side of our net worth change over time.  (An example of an “asset class” would be cash, stocks, bonds, retirement accounts, etc.)  Since the vast majority of our value is in cash, it might be interesting to see how this changes over time.
  3. I could also start including updates on my progress in making residual income online.  This could be really boring or really interesting.  I have actually set up some hard goals/benchmarks for me to accomplish with this over the next year and perhaps to keep myself accountable and reminded of these goals adding them to my net worth updates could make them more interesting.

If you have any suggestions please feel free to chime in.  The comments section is always open.