Exactly 364 days ago I calculated my net worth for the first time. I decided that it should be an annual ritual, like a financial check-up or check-in of sorts. However, I think I now understand why my brother recently sent me a link to shesgeeky . It's Friday night, and here I am writing about how I'm calculating my net worth! (Plus I'm doing it with a hand-held calculator, which probably makes me some kind of neo-Luddite geek...) I know there are plenty of net-worth calculator websites, MSNBC Calculator, NetWorthIQ , etc. but somehow it feels more satisfying for me to do by hand. Then there's the question, should I have to calculate it at all? I suppose I could enter all my financial and banking information (passwords too) into an online money management site like Mint and my net worth would automatically be calculated, up-to-date and available to be checked at any time. Hmmm... would I then want to check it all the time--like a person who gets on the scale to check their weight everyday?
For the time being, I like the perspective of looking back on the past year and seeing how I've done, especially since I can now say my net worth went up 10% since last year. A victory!
You can find this article posted at The Carnival of Financial Goals and The Carnival of Financial Planning.