I just finished emptying out my bank account to pay the garbage and water bills. Okay, there’s a little less than $40 in there so I’m not destitute or anything. (Plus there’s a little in PayPal, a little in my mTurk account, and a little in cash. Really, don’t freak out on my behalf.)
While I was clicking to pay I was thinking about J.Money and his post over on Rockstar Finance about net worth. Finance bloggers sharing right out loud what their net worth is. No fear. So I decided to do the same, because I think it will be pretty cool to have a page to point to and say, “Look, there, in February of 2014 I had that net worth.” Like a third party unbiased opinion.
But I’m also going to share it here.
- House: $89,000
- Car: $10,000
- Cash on Hand: $300
- House: $120,000
- Car: $12,000
- Credit Cards: $3010
- Student Loans: $61,275
Total Net Worth: $96,985 (that’s a negative number)
I know some bloggers go into the bills, but that’s another post (a budget post that will eventually get linked here as soon as I write it up) but this is assets and liabilities.
Forgive me for paraphrasing here, but every time I think of this list I’m reminded of the Rich Dad, Poor Dad book by that guy where his “rich dad” tells him the biggest problem of the middle class is that they mistake assets for liabilities. When I look at my small list of big numbers, I see his point pretty clearly.
If I do end up losing this house and renting a place it will actually increase my net worth by $31,000. If you have ever had to take a class to get licensed in property and casualty insurance the words moral hazard might pop into your mind. Of course, if you looked at my homeowner policy it covers my house for $245,000. I even tried to lower it because if something did happen that will scream fraud but they told me the (completely standard, I’ve said it myself) line, “It costs more to rebuild than it did to buy.”
Yeah, maybe a percentage but not a quarter million dollars.
Enough about moral hazards and insurance and rambling. One of the things I’m working on now is a personal comparison of renting vs. buying in an attempt to make the best financial decision possible going forward.
Sure there is a lot of emotional baggage attached to owning and I’m subject to feeling things just like anyone else with a heart, but I think I might be better at setting it aside, too.
I certainly hope so!
Also, if you’re curious about other financial bloggers and what net worth numbers they are rocking, check out the Blogger Net Worth page over on Rockstar Finance.