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Alright, I promise this will be my last post where I talk about our upcoming trip to Russia.
Let me rephrase that. This will be the last post that talks about the excitement and anticipation for the trip, as I’m sure I will have plenty to talk about upon my return.
Because when this post is released, my husband and I will be heading from Moscow to Saransk for the first of three FIFA World Cup games we are attending! Be sure to tune into FOX Sports at 12:00 PM Eastern time Saturday, 6/16/18, to watch with us!
As for right now, I really should be going through our list and making sure we have packed absolutely everything we need, but I had to log onto Personal Capital to take a quick peek at our net worth before we leave.
If you’re not sure what Personal Capital or net worth is, I’ll start with the latter.
According to Investopedia, “Net worth is the amount by which assets exceed liabilities. Net worth is a concept applicable to individuals and businesses as a key measure of how much an entity is worth. A consistent increase in net worth indicates good financial health; conversely, net worth may be depleted by annual operating losses or a substantial decrease in asset values relative to liabilities.”
What it comes down to is this – your net worth is the difference of your assets (what you own) minus your liabilities (what you owe).
Assets may include your home, car, investments, cash in the bank, etc. Liabilities are debts you owe, such as a mortgage, car loan, student loan, personal loan, etc.
Since we have no liabilities after paying off our home in January, below are the assets that currently make up our net worth.
- Cash: $10,564
- Investments: $80,200
- House: $144,000
- Vehicles: $7,791
Net Worth: $242,555 (+$7,214 from last month)
Personal Capital is the free app I use to track my net worth each month. As much as I love putting spreadsheets together to get different views on our finances, I prefer this free service when it comes to our net worth because it’s just so easy to use. All of our accounts – our checking and savings accounts, retirement and investment accounts, etc. – are linked so that up-to-date numbers are automatically calculated as soon as I log in.
I was especially excited to log in this month. Since I began tracking our net worth in July 2017, we now have a full year of progress to look back on. We have increased our net worth by $48,074 since this time, which makes me wish I had started tracking it much sooner.
If you haven’t been tracking your net worth, I recommend trying out Personal Capital. Most people don’t track it every month like I do, but it’s a good idea to log in at least every three to six months to make sure you’re staying on track for your financial goals.
Do you track your net worth? Let me know in the comments below or check in with me on Instagram!