Our First Net Worth Update ($116,427.79)

In case you missed it, J. Money of Rockstar Finance started a list of personal finance bloggers. One fun use for this list is to track the net worth of the personal finance blogging community. So far, he has responses from about a third of the listed blogs. Since we love net worth voyeurism as much as anyone, we’re throwing our own numbers into the hat.

The next several months should prove particularly fun for tracking our net worth since we’re due for many big changes. Baby Squidge is due in early December. Promotions come up at year-end. Mr. Steward is starting his Bachelor’s. We’re finally in a place to pour money into our investments. There are mystery bonuses coming down the pipeline from our company buyout. Let it never be said that life is boring at the Steward household!

Net Worth Is a Great Universal Metric for Tracking Your Finances

Although we’ve never published a detailed analysis of our net worth on the blog, we have tracked it since the early days of our marriage. Part of this is because we use Mint, and Mint automatically calculates net worth as part of using the application. In case you’re wondering what exactly net worth is, it’s simply your assets (cash, house, cars) minus your liabilities (debt). Honestly, we’re at the point where seeing our investments grow is the more potent metric, but there was a time when net worth was a big encouragement for us.

Right after we were married seven years ago, we had a net worth of almost exactly zero, with about $8,000 in cash, two cars worth about $18,000, and $28,000 of debt. Since then, I’ve attended and quit grad school. We’ve both started careers. We’ve bought a house. We’ve made two amazing little girls.

Watching our net worth rise along the way has kept us focused over the long haul. It was particularly vital in the debt-payoff years, when our bank account numbers didn’t go up even though the loan balances (slowly) went down. Seeing our net worth increase was a great reminder that we were making overall progress.

How Our Net Worth is Calculated

We’re pulling all of our data directly from Mint, just as it is there. Mr. Steward and I have joint finances, so this reflects our whole picture. Using Mint means there will likely be wild fluctuations in the value of our property, since Mint relies on the constantly-updated Zillow Zestimate for home values and the Kelley Blue Book for automobile values. We’re just going to roll with it.

Without further ado:

Cash
Savings (Emergency Fund) 15,005.53
Checking 2,244.33
Investments
Mr. Steward 401k 42,897.37
Mr. Steward Roth IRA 2,500.48
Ms. Steward 401k 2,996.86
Ms. Steward IRA (Rollover) 13,155.45
Ms. Steward Roth IRA 3,244.08
Ms. Steward HSA 4,959.49
Ms. Steward FSA 100.00
Property
House 129,368.00
Van (2014 Dodge Caravan) 11,641.00
Car (2010 Chevy Cobalt) 3,874.00
Debts
Credit Card (Paid Off Weekly) -334.96
Van Loan -7,234.35
Mortgage -107,989.49
Total Assets 231,986.59
Total Liabilities -115,558.80
NET WORTH 116,427.79

 

We also have a 529 for Bean, which sits at $744.46. Since that money is hers, we don’t include it in our net worth calculation.

There you have it! We’ll be back roughly every quarter with an update.

4 Replies to “Our First Net Worth Update ($116,427.79)”

  1. Zach @ Four Pillar Freedom

    Awesome first net worth update guys! Anything over $100k is certainly something to be proud of. I’ve found that sharing my own net worth online has helped me stay accountable and keep my monthly cash flow in check. Best of luck going forward in your financial journey 🙂

    • Ms. Steward

      Thanks! I used to be sort of nervous about posting, but part of the point of our blog is to show our journey in real time, just as we are.

      I suspect sharing online will also help me to be a little more accountable, too. Good luck yourself!

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