Comments on: Single Ma’s 2006 Net Worth Review http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html The journey of a fabulous single mom pursuing financial independence Fri, 21 Nov 2008 05:57:50 +0000 http://wordpress.org/?v=2.6 By: Bklyn Diva http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3464 Bklyn Diva Thu, 04 Jan 2007 15:11:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3464 way to go!!! I am finally calculating my net worth. I used the spreadsheet I created for my budget and last month I plugged everything into my microsoft money.. rather updated it because it has great tools.. I love to see the graphs.. the big picture and when I see that pie chart get bigger in money that I am keeping rather than putting out.. I'M EXCITED..<br/><br/>Maybe I'll send you a topic to write about.. or ask the write question that will generate a response way to go!!! I am finally calculating my net worth. I used the spreadsheet I created for my budget and last month I plugged everything into my microsoft money.. rather updated it because it has great tools.. I love to see the graphs.. the big picture and when I see that pie chart get bigger in money that I am keeping rather than putting out.. I’M EXCITED..

Maybe I’ll send you a topic to write about.. or ask the write question that will generate a response

]]> By: Miguel http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3460 Miguel Thu, 04 Jan 2007 11:44:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3460 Cool, thanks for the explaination. Cool, thanks for the explaination.

]]> By: Single Ma http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3457 Single Ma Thu, 04 Jan 2007 00:26:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3457 In my initial calculation, the down payment was not included. Keep it mind, I bought NEW construction.<br/><br/>I was already under contract and construction had begun, so I had to put up a sizeable amount in earnest. At closing, it was refunded and that became my deposit.<br/><br/>I bought in the first phase (nothing but dirt and the builder's vision) that took nearly a year to complete. So yes, when I closed, the market value had increased significantly. DC 'burbs...<br/><br/>re: tracking. I'm learning, I'm learning. Thanks for making me evaluate the numbers and look at my finances even closer. In my initial calculation, the down payment was not included. Keep it mind, I bought NEW construction.

I was already under contract and construction had begun, so I had to put up a sizeable amount in earnest. At closing, it was refunded and that became my deposit.

I bought in the first phase (nothing but dirt and the builder’s vision) that took nearly a year to complete. So yes, when I closed, the market value had increased significantly. DC ‘burbs…

re: tracking. I’m learning, I’m learning. Thanks for making me evaluate the numbers and look at my finances even closer.

]]> By: Miguel http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3456 Miguel Thu, 04 Jan 2007 00:13:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3456 Nice follow-up. Now you know me... of course, I have a question. <br/><br/>In your initial NW calculation, are you including the deposit for the downpayment on the house? I'm having some trouble mentally reconciling this - unless you bought the house with zero down, you should have had some savings or deposit money before the home purchase closed. So, when you say your networth increased from buying the house, is that from an increase in market value, or is it that you are now accounting for something that was off-balance sheet as they say in accounting lingo (i.e. not previously being counted in the calculation)?<br/><br/>At any rate, I find it immensely helpful to track my NW and update it several times a year. It provides motivation to increase it. And it also forms the foundation of my investment & retirement planning, as well as estate planning. You'll find that as your finances grow more complex, this type of tracking is quite valuable. Nice follow-up. Now you know me… of course, I have a question.

In your initial NW calculation, are you including the deposit for the downpayment on the house? I’m having some trouble mentally reconciling this - unless you bought the house with zero down, you should have had some savings or deposit money before the home purchase closed. So, when you say your networth increased from buying the house, is that from an increase in market value, or is it that you are now accounting for something that was off-balance sheet as they say in accounting lingo (i.e. not previously being counted in the calculation)?

At any rate, I find it immensely helpful to track my NW and update it several times a year. It provides motivation to increase it. And it also forms the foundation of my investment & retirement planning, as well as estate planning. You’ll find that as your finances grow more complex, this type of tracking is quite valuable.

]]> By: donna jean http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3454 donna jean Wed, 03 Jan 2007 23:11:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3454 I've been dragging my feet on the net worth calculations. The first ones I drew up were early last year and were astoundingly negative -- maybe not as bad a Make Love, Not Debt, but pretty close. Now that I've got more of a handle on the joint finances, I can paint a much more accurate picture of our situation and hopefully see it grow into the positive range this year. I’ve been dragging my feet on the net worth calculations. The first ones I drew up were early last year and were astoundingly negative — maybe not as bad a Make Love, Not Debt, but pretty close. Now that I’ve got more of a handle on the joint finances, I can paint a much more accurate picture of our situation and hopefully see it grow into the positive range this year.

]]> By: Single Ma http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3453 Single Ma Wed, 03 Jan 2007 21:26:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3453 boston gal - ^5 sis! I've learned so much since starting this blog. Thanks for all of your help.<br/><br/>mapgirl - Can't go wrong with saving!<br/><br/>kerstin - The spreadsheet is a summary and doesn't show the individual assets. The small reduction is not from my house.<br/><br/>I use the appraised value from the purchase in April. The builder is expanding the neighborhood and similar houses are selling for much more, but I'm not going to change it.<br/><br/>Thanks for reading!<br/><br/>chele - See, it helps you see the big picture so you can stay on point. And you're welcome.<br/><br/>wanda - Add it to your 2007 goals. Nothing to it but to do it! :-)<br/><br/>african girl - LOL no I don't work in finance. I've always wanted to but the lifestyle was too demanding. My babygirl comes FIRST! :-)<br/><br/>I'd love to help you. Short of writing on this blog, do you have any suggestions or specific requests? Subject ideas for me to write about? boston gal - ^5 sis! I’ve learned so much since starting this blog. Thanks for all of your help.

mapgirl - Can’t go wrong with saving!

kerstin - The spreadsheet is a summary and doesn’t show the individual assets. The small reduction is not from my house.

I use the appraised value from the purchase in April. The builder is expanding the neighborhood and similar houses are selling for much more, but I’m not going to change it.

Thanks for reading!

chele - See, it helps you see the big picture so you can stay on point. And you’re welcome.

wanda - Add it to your 2007 goals. Nothing to it but to do it! :-)

african girl - LOL no I don’t work in finance. I’ve always wanted to but the lifestyle was too demanding. My babygirl comes FIRST! :-)

I’d love to help you. Short of writing on this blog, do you have any suggestions or specific requests? Subject ideas for me to write about?

]]> By: African girl, American world http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3452 African girl, American world Wed, 03 Jan 2007 21:16:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3452 I sooooooooooo need to get on the ball. You're so informed on finances. Do you do this for a living? If not you could definately coach the rest of us. I sooooooooooo need to get on the ball. You’re so informed on finances. Do you do this for a living? If not you could definately coach the rest of us.

]]> By: Wanda http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3451 Wanda Wed, 03 Jan 2007 21:12:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3451 I've been a lurker for a while, but I have to say I agree with you 100% on this issue. Now if I can just muster up the discipline to do a cash flows worksheet...<br/><br/>By the way, I really enjoy your blog and find it so inspiring. :) I’ve been a lurker for a while, but I have to say I agree with you 100% on this issue. Now if I can just muster up the discipline to do a cash flows worksheet…

By the way, I really enjoy your blog and find it so inspiring. :)

]]> By: chele http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3450 chele Wed, 03 Jan 2007 21:05:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3450 I created my spreadsheet and I can't even begin to tell you how helpful it is. Even though the decrease from Dec. was Jan. was minimal it was still there and I know where I need to tighten up. Thanks again for all your help. I created my spreadsheet and I can’t even begin to tell you how helpful it is. Even though the decrease from Dec. was Jan. was minimal it was still there and I know where I need to tighten up. Thanks again for all your help.

]]> By: Kerstin http://fabulousfinancials.com/2007/01/single-mas-2006-net-worth-review.html#comment-3449 Kerstin Wed, 03 Jan 2007 20:34:00 +0000 http://fabulousfinancials.com/2007/01/03/single-mas-2006-net-worth-review.html#comment-3449 A quick question: How are you basing the value of your house? I noticed you went down from 297,975 to 296,925. Is that the amount you owe or is that the appraisal value of the home? <br/><br/>Just curious. I'm really finding a lot of value in your site. A quick question: How are you basing the value of your house? I noticed you went down from 297,975 to 296,925. Is that the amount you owe or is that the appraisal value of the home?

Just curious. I’m really finding a lot of value in your site.

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