Net Worth is an interesting thing.  It’s so fluid that it’s hard to measure, for me anyways.  I hate all the inconsistencies of it, as timing can play a huge roll.  For example, if I had measured our net worth before we went on vacation it would have been $1,300 higher, even though we fully intended to spend that money.  It was already spent in my mind.  Anyways, out of curiosity I have calculated a very simplified net worth.  It doesn’t take all our stuff into account, it also doesn’t include any money we have saved for a particular purpose, such as vacation.  I also wasn’t sure where to put the debt for the landscaping.  Should I add it in as a separate line, or just subtract it from the equity of the house.  In the end, it doesn’t matter, so I added it as a separate line.

House - We have $61,000 in equity.  I lost $57,000 in 2008.  It’s down $133,000 from the high.  All these numbers are according to Zillow, which may or may not be totally accurate, but it’s down a lot… enough said.

Investments - We have $9,750 invested.  This is down $5,000 in 2008.  That hurts, a lot.  But it’s not new information.

Emergency fund -We have $12,337.45 saved in our emergency fund.  It’s down $500 because we’ve dipped into it a few times.  Once to buy the new fridge and once to get wills.  Both good reasons, but still scary to see that we didn’t save any money this year!  Yikes.  We did pay off debt though.

Cars - In the van we have negative equity of $5,300.  In my husband’s car we have $1,730 in equity and in his truck we have $12,500 in equity. This brings us to a total of $8,930 in equity in our cars, according to Kelly Blue Book.  I don’t know what our cars were worth last year so I can’t say what the difference is.

Debt- We owe $6,040 on the landscaping.  This is 2,577 less than last year at this time.

So that means our net worth is…**Drumroll**… $85,977.

Obviously down from last year, by about $60,000 give or take.  Clearly, the value of my house dropping like a stone was the biggest factor in our losses.  But the value of the house and stock market are not in my control, so I can’t really feel badly about that.   The fact that our Emergency Fund went down a bit is not ok.  While I do feel it was for good reason, we still need to keep an eye on that.  A few “emergencies” a year and it won’t be long until there isn’t a savings left.  Also, I feel good about the debt situation.  We reduced our total debt by $13,309.  If you only look at what we can control I think we did ok.  Not great. Not terrible.  Just ok.

Edited to update the value of the truck.  My husband let me know the error of my ways.  Sorry honey.

Pic by: tenioman

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