Blogging Away Debt

Net Worth and Credit Card Update – Major Changes

My net worth for the end of July decreased by 24.86 percent. Don’t worry…it’s not because I went on a shopping spree. Let me explain what happened.

In my NetWorth IQ profile, I had given myself a value of $8,000 for our personal possessions. Well, after having our garage sale this past weekend, I realized that there is no way we could easily get $8,000 by selling our stuff. So, I took it completely out of our Net Worth.

Next up, I had to add in our confirmed IRS debt of about $1,600. I thought about it and thought about it and decided to add that debt in with our credit card debt. I originally used the refund we received (as a result of the error with our return) to help pay our credit card debt. It’s only fitting that I add it back in there. While I cringed to see that we have over $21,000 in credit card debt again, I’m okay with it. I will work harder to get under the $20,000 mark again 😉

Those two changes made our net worth plunge to a negative $42,069. I’m not really upset about it and not even disappointed. I know what I am doing will benefit us greatly in the long run even though there are a few stumbles here and there in the short run. I’m fine with that.

And My Autographed Copy of “Debt is Slavery” Goes To…

by Tricia

Thank you to everyone who left a comment for a chance to receive an autographed copy of “Debt is Slavery” by Michael Mihalik.

While reading about one of your most valuable possessions, I found myself sometimes crying…sometimes chuckling…and all of the time realizing how important many of us value the things that money cannot buy. I definitely want to write a post highlighting some of the comments, but it will have to be at another time. Life likes to throw a lot of curveballs at me and right now is no exception.

Anyways, back to the announcement!

Congrats to commenter #66: MB! I’ve sent an email, and if I don’t hear from MB by the end of day on Friday I will draw another number for someone to receive my copy of “Debt is Slavery.”

I’d like to say thank you again to Michael Mihalik for contacting me, letting me read his book and letting me give away the copy on here. Your book is making a huge positive difference in my life. Thank you.