Net Worth Update – Up 5.87%

I am on the ball this month with a timely update for our net worth. I knew it would be a very nice update with the money we have been able to pay towards our debt lately. I couldn’t wait to plug the numbers into NetWorthIQ so I did it first thing this morning.

As of the end of February, our net worth is now at a -$31,193. We were able to increase it by 5.87%. I am pretty darn happy with this increase. It is the largest monthly increase we have had so far.

As always, you can see how everything is spread out in my NetWorthIQ profile. I stay focused on our credit card debt on here, but we do have some lingering student loans and we have our mortgage.

We’ll see how we do for next month’s update. I’m still in that state of mind :)

Posted by Tricia on March 1, 2008 at 8:44 AM in Net Worth | 18 Comments »
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  1. SingleGuyMoney responded:
    Posted: March 1st, 2008 at 9:34 am

    Congrats on the increase this month!

  2. Law Girl responded:
    Posted: March 1st, 2008 at 9:44 am

    Congrats! Are you going to update your savings account to reflect your monthly interest?

  3. Law Girl responded:
    Posted: March 1st, 2008 at 9:46 am

    Also, I know you like the monthly boost in the net worth, but aren’t your car and house depreciating? Home prices have plummeted in the last few months.

  4. Tricia responded:
    Posted: March 1st, 2008 at 10:26 am

    Law Girl – thanks for the heads-up. I updated my savings account total to the right.

    As for my car, if there was ever a purchase that was an awesome one in our past – it was that car. I check kbb.com every now and then, and the value still hasn’t broken below $5,000. My car has low miles (we don’t have to commute to work) and it is extremely fuel efficient. If gas prices keep rising, I have a feeling the value will stay steady for a while. I really didn’t like that car when we bought it, but it has saved us so much money in terms of fuel and repairs. Our previous vehicle was a gas hog and a money pit.

    As for my home, I keep an eye on real estate in the area. It’s a hobby of mine. Comparable homes are going for more than what I have listed in NetWorthIQ. If we sold our home today, I don’t believe it would sell for less than the value I have listed. We’ve also been doing improvements here and there when we can when the budget allows or we find some material. I haven’t added any value for improvements.

    So I haven’t adjusted either. If we move soon, though, I guess I’ll find out for sure how much our home is worth :)

  5. Law Girl responded:
    Posted: March 1st, 2008 at 11:24 am

    Cool! I am glad your home and car have kept their value. You are one of the lucky few on that front… Keep blasting that debt! :-)

  6. Give Me Blog responded:
    Posted: March 1st, 2008 at 12:42 pm

    Congrats. Come get some free money at my new blog and pay it down even faster.

  7. arduous responded:
    Posted: March 1st, 2008 at 1:14 pm

    How’s your husband’s job search coming along?

  8. Single Ma responded:
    Posted: March 1st, 2008 at 1:48 pm

    Congratulations! You’re doing so well with your debt reduction. I love your dedication. Keep up the good work!

  9. debtdieter responded:
    Posted: March 1st, 2008 at 4:07 pm

    What a great boost to your net worth this month, congratulations!

  10. Tricia responded:
    Posted: March 2nd, 2008 at 12:47 am

    Thanks, everyone!

    Arduous – expect an update on that in the upcoming weeks as well.

  11. Rick Vaughn responded:
    Posted: March 2nd, 2008 at 2:36 pm

    Anything that can be measured can be improved. Nice job Tricia

  12. Matt responded:
    Posted: March 2nd, 2008 at 8:58 pm

    Great job! About a year back I had a 5% increase in my net worth one month and I was floored. I see bloggers posting about it every month but to actually see it in your numbers is a completely different story. Keep it up!

  13. Brainy Smurf responded:
    Posted: March 3rd, 2008 at 1:15 pm

    Wow! Way to go! Most folks had a rough go of it in February, but you came through with flying colours…

    At this rate, your CC debt will be gone in a matter of months!

  14. February 2008 Net Worth Update: -1.8% responded:
    Posted: March 3rd, 2008 at 4:23 pm

    [...] Blogging Away Debt [...]

  15. Prince of Thrift responded:
    Posted: March 3rd, 2008 at 5:02 pm

    congratulations. way to go. It will feel even better when that net worth is a positive number.

  16. Trees Full of Money responded:
    Posted: March 3rd, 2008 at 5:21 pm

    Way to go! Get rid of that debt!!!

    There are few feelings better than paying off your last consumer debt! I’m working on the MORTGAGE now but I’ll get there!

  17. Dave responded:
    Posted: March 4th, 2008 at 12:17 am

    I’ve been surfing around looking for blogs about debt to help me stay motivated in my journey to financial freedom. Yours is great and congrats on the jump in net worth. I found another one that you might enjoy. There isn’t much on it yet, but the guys has a pretty good sense of humor

  18. Dave responded:
    Posted: March 4th, 2008 at 12:22 am

    Sorry, I accidentally hit enter before I gave you the website. Check it out at http://www.35yearoldloser.blogspot.com

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My Debt

  • Original Debt: $38,495.86
  • Added Debt: $1,781.50
  • Total Debt: $40,277.36
  • Paid: $36,084.36
  • Remaining: $4,193.00
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