Category Archives: Net Worth

New Debt-Free Savings Plan

Next weekend, I will officially be out of debt.

After I get extremely drunk off of (free) wine and most likely start crying of joy, I have the rest of my life ahead of me. I’m sure the debt hangover will last a couple of weeks, so I’ve been trying to figure out how I’m going to split my money for the next couple of years. The numbers above were without interest, but I figured it wouldn’t matter since interest rates are abysmal, and it’s only for the first 3 years anyway.

Of course there will be times where I won’t be able to save this much, and it’s also possible that I’d get a raise within the next 3 years, in which case I’ll add the extra into my savings. It’s very likely that the numbers won’t  match these on August 1st, 2015. But, my rock bottom goal that there’s no way I won’t hit is a net worth of at least $15000 by 24. If I can do that, awesome. If I can do better, fantastic.

What do you guys think?


How do you calculate your net worth?

My babies.

Last night, I was going through my things in preparation for the move next weekend when I came across my plate collection.

Just some back story here; I am a HUGE Gone With the Wind fan. I really mean HUGE. I see the entire four hour movie about once every two months or so. I read the 1000 page book once a year- I have it on both paperback and on my iPhone. If I ever won the lottery, the first thing I would do would be buy a first edition from May 1936, which usually go for about $1000 USD, depending on the condition. Yes, I know that much about it that I can name the approximate value. What can I say? It’s a classic! As a result of my obsession, I have 14 Gone With the Wind plates that were bought for me as a high school graduation gift. They’re worth roughly $100 each, for a total of $1400.

Normally when I’ve calculated my net worth, I’ve added my liquid assets and subtracted my liabilities. Done in this way, my net worth is negative. I never add my technology or belongings, because the value just depreciates too quickly. However, I forgot about things like my plates and my jewellery, which is also worth about $2000 altogether. These goods are only going to appreciate in value over the years. When they’re added into my net worth calculations, my net worth actually becomes around $1400.

WOW, what a difference!

The value of these things doesn’t help me in any way because I would never sell any of them, but it’s an interesting question since adding in non-liquid assets magically makes my net worth jump by $3400. It makes me feel a little bit better about myself looking at it that way.

When you calculate your own net worth, do you count your non-liquid assets or not?