Your Net worth?

[Randy]

Your net worth is one of the most important aspects of your financial picture. Your net worth is simply the difference between what you own and what you owe.

To calculate your net worth, start by adding up all of your assets, which includes money in your bank and investment accounts and physical assets like your home. Next, add up all of your debts. Subtract your debts from your assets, and you get your net worth.

It’s okay if your net worth isn’t where you want it to be right now. Many younger people have a negative net worth as a result of student loans. The goal is simply to watch your net worth increase over time as you save money and pay off debt.

What is your net worth? Where would you like it to be?

 

[Nebulous's iconNebulous]

Not much in the bank but I could sell my house right now (pay off what I owe on the mortgage) and profit about $350,000 to $400,000 (give or take). But then I'd be homeless.

 

[Merciless]

All my assets, my business and my banked money, it’s hard to say but maybe £200,000.

Wouldn’t mind having that in cash lol

 

[Nebulous's iconNebulous]

All my assets, my business and my banked money, it’s hard to say but maybe £200,000.

Wouldn’t mind having that in cash lol

Same here! But I think having a place to live is more valuable than having a bunch of cash you will blow through and then have nothing.

 

[Merciless]

Same here! But I think having a place to live is more valuable than having a bunch of cash you will blow through and then have nothing.

I agree 100%, but unfortunately i do not own my own home just yet.

 

[Nebulous's iconNebulous]

I agree 100%, but unfortunately i do not own my own home just yet.

Well then I'd say go cash in your assets and use that £200,000 to buy a house, or put a very generous down payment on one.

 

[Merciless]

Well then I'd say go cash in your assets and use that £200,000 to buy a house, or put a very generous down payment on one.

That is one way of doing it but I have too many things that mean too much to me

 

[Nebulous's iconNebulous]

That is one way of doing it but I have too many things that mean too much to me

Like what?

 

[Merciless]

Like what?

A few guitars in my collection they were gifts, my car, my business

 

[Nebulous's iconNebulous]

A few guitars in my collection they were gifts, my car, my business

Just take pictures of the guitars and frame them.

 

[Merciless]

Just take pictures of the guitars and frame them.

I guess that is one way to keep the memory haha

 

[Nebulous's iconNebulous]

I guess that is one way to keep the memory haha

When I moved 2 years ago I pretty much left all my crap on the sidewalk at my old house. Came to this new one and got all new stuff. I have no attachments to stuff.

 

[Merciless]

When I moved 2 years ago I pretty much left all my crap on the sidewalk at my old house. Came to this new one and got all new stuff. I have no attachments to stuff.

It’s the best way to be, I have attached myself to certain items I have but I’m slowly going to change that.

 

[Nebulous's iconNebulous]

It’s the best way to be, I have attached myself to certain items I have but I’m slowly going to change that.

@tonychu could tell you when he first met me back in 2011, I had so much stuff. My house looked like a thrift store. Seems over the years I have snapped out of it.

 

[Merciless]

@tonychu could tell you when he first met me back in 2011, I had so much stuff. My house looked like a thrift store. Seems over the years I have snapped out of it.

I’m sure I will, I’m just young and love to hoard lol