This week I blogged about how I've gotten a little lazy with my finances and how I'd stopped, among other things, tracking our net worth. To a certain extent I think a net worth figure is just a number and what's really important is income streams, but as a tool to monitor and motivate, it's a great thing; so I'm starting to track it again.
My last post about our balance sheet was in April 2009, so one year later, how are we doing?
As a side note; all figures are in British pounds {££} and our main pension funds are not included, {we just have an amount we will receive at 65} which skews the total amount somewhat, but I'm not sure how I can include them.
Net Worth {£100,000k = $152,000k}
Assets:
Cash £13,209
House £180,656 {Source: Zoopla}
Personal £3,125
Pension £1,009
Total: £197,999
Liabilities:
Mortgage £119,133
Total: £119,133
Net Worth: £78,866 {$120,380}
Our goal is to reach £100k by 31st December 2011, so I'm going to keep tracking the figures. I need to do a separate post in the future about our pensions and our retirement plans.
What about you, are you currently tracking your net worth?
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I've never calculated my net worth. I think I'd be afraid I'd be worth very little LOL
ReplyDeleteHi Jolie; you should try it, you might be surprised :-)
ReplyDeleteThat's brilliant!!
ReplyDeleteIsn't it sad how poor the pound is doing? I remember when you could get $2.40 Cdn and now it's more like $1.70. Scary!