| Assets | |
| Condo | $192,000 |
| Vehicle | $6,500 |
| Investments | $2,100 |
| Liabilities | |
| Mortgage | $173,250 |
| Net Worth | $27,350 |
I did my first Net Worth update in April last year and came out with approximately $22,428....an increase of almost $5,000. I know that number could have been higher - since I reported that net worth I've had some big ticket payments - legal fees/commission from the condo sale ~$6,000 and moving/legal fees/warranty for the new job and condo in Ottawa ~$3,000.
I will do another Net Worth Update part way through the year and again at the end of 2012 and I hope to see that number climb to: $38,000 by the end of December 2012.
How often do you check your net worth?
I don't necessarily "check" my networth because my financial situation is soooo simple. I don't own property, nor a vehicle, so I have no debt (student loans paid off a while ago, pheww!!!). For me, what's in my accounts and savings vehicle is my networth, so I pretty much know at any given time what the number is. If I was more financially savvy and invested, I'd probably check it much more often as investments go up and down, so it's a good idea to keep an eye on it.
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