tag:blogger.com,1999:blog-3856734926342648468.post1515501269999699418..comments2023-04-19T15:16:12.241-07:00Comments on The Single Dollar: Calculating Net Worththesingledollarhttp://www.blogger.com/profile/05983910821824106143noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3856734926342648468.post-9008989009706346592014-08-06T04:27:28.243-07:002014-08-06T04:27:28.243-07:00Yeah, that makes total sense on the house/car. You...Yeah, that makes total sense on the house/car. You're the second person who's said they don't count retirement accounts, which surprised me! With you, I guess it's because you're looking to count only things that are really liquid ("wet-worth," hee) and retirement accounts aren't that, by design. Thanks for the comment!thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-28133159195524818852014-08-05T21:41:21.278-07:002014-08-05T21:41:21.278-07:00I exclude any large assets (house, car etc) and re...I exclude any large assets (house, car etc) and retirement accounts, though I tend to use the term 'wet-worth' on account of it being more liquid than real net worth ;)<br />I caught myself putting in higher prices for my house to show continued net worth growth and besides, my house is worth only what someone else will pay for it; not what I would like to sell it for. So excluding it keeps me more honest.<br />Best wishes,<br />-DLDividend Lifehttps://www.blogger.com/profile/03670495892963662287noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-4150974455101283922014-08-04T18:41:12.046-07:002014-08-04T18:41:12.046-07:00Yeah, I think "go with what feels good" ...Yeah, I think "go with what feels good" is the rule here. In your case, though, if you're married and your finances are mingled, I'd say even if you were the one who took the loans out, they're both of yours now, so maybe a joint net worth is appropriate? I'm afraid that wasn't very helpful since you were leaning in the opposite direction :)thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-24501991234160085972014-08-04T18:39:45.811-07:002014-08-04T18:39:45.811-07:00I'm in the process of figuring out YNAB -- I l...I'm in the process of figuring out YNAB -- I like it a lot but I'm still working out a few kinks. I think it's basically a really good thing though.<br /><br />I'm on my way to check out your post :) Thanks for the comment! thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-46027255589477417582014-08-04T18:38:13.573-07:002014-08-04T18:38:13.573-07:00I don't like my car much, so I'd rather no...I don't like my car much, so I'd rather not drive it til the wheels fall off...but I will if I don't increase my income drastically in the next few years! Why don't you like to include your retirement funds as assets? Because they're not "liquid"?thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-82282930778507928972014-08-04T18:37:24.763-07:002014-08-04T18:37:24.763-07:00Oof, I often wish I owned a house...but I constant...Oof, I often wish I owned a house...but I constantly hear stories like this. Not as liquid as it might feel is a good way of putting it.thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-34741767291855796382014-08-04T18:36:39.378-07:002014-08-04T18:36:39.378-07:00I kind of like it too -- it gives some insight int...I kind of like it too -- it gives some insight into how people are thinking.thesingledollarhttps://www.blogger.com/profile/05983910821824106143noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-29369238194042429802014-08-03T12:07:33.643-07:002014-08-03T12:07:33.643-07:00I've been struggling with this lately. I'd...I've been struggling with this lately. I'd like to track my net worth, but I keep playing around with what should be included. Is it my personal net worth or me and the Hubs? It's my student loans that are weighing us down, so I feel a personal calculation is more meaningful. I should just pick something and go with it. Waiting around is doing me no good. - Kate @ Goodnight DebtAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-14131324383155272322014-08-02T20:45:57.436-07:002014-08-02T20:45:57.436-07:00I just wrote a similar post about how I calculate ...I just wrote a similar post about how I calculate my net worth! <br /><br />I include my remaining car loan in liabilities but don't include the value of my car with my assets. I include retirement accounts and savings accounts with my assets. <br /><br />My "envelopes" or whatever I save up for for an upcoming expense (travel fund, car maintenance fund, Christmas fund), I consider a liability. <br /><br />I use the YNAB methodology: This month's income for next months' expenses; as well as budgeting down to zero. So at the end of each month, whenever I calculate my net worth, I have already deducted all of that month's expenses. Whatever "living expenses" for the next month, the money comes out from the allotted income for the next month so the breakdown is crystal clear. <br /><br />Hope this helps! :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-73226040130384231072014-08-01T06:37:25.236-07:002014-08-01T06:37:25.236-07:00Actually, my Quicken also tried to calculate my ca...Actually, my Quicken also tried to calculate my car into my net worth, but I took it off too. I plan to drive it until the wheels fall off. I do count my income, but I am aware of what's there... normally, I operate on a zero budget, so the checking account is often below $100 and doesn't impact things a whole lot. "Used to" sure sounds nice on that context! I include my retirement funds as assets, but I am not a fan of it... Taniahttps://www.blogger.com/profile/11075300256482920618noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-6399934891963617242014-08-01T05:15:41.756-07:002014-08-01T05:15:41.756-07:00So I do this two ways. In the one I share on my si...So I do this two ways. In the one I share on my site, I keep it to assets and liabilities excluding my house and mortgage, and car. I also don't use my chequing account in the calculation. If I just got paid my chequing account looks a lot better than it really is. <br /><br />For my personal net worth (that I don't share) I put my house value (purchased cost) and the mortgage to offset it. I don't do cars. Also, it's hard to sell a house... which is why I still have one even though I rent my current apartment. It isn't as "liquid" as it might feel. Alicia @ Financial Diffractionhttps://www.blogger.com/profile/05643373008918810105noreply@blogger.comtag:blogger.com,1999:blog-3856734926342648468.post-66710639170845913402014-07-31T18:53:59.451-07:002014-07-31T18:53:59.451-07:00I include my car, but I do not include my checking...I include my car, but I do not include my checking account. I don't keep much in there anyway and I think of it as temporary. I think everyone has a different approach. I kind of like it that way. Anonymoushttps://www.blogger.com/profile/00295378005934998464noreply@blogger.com