Increased our net worth from $19k (Jan) to $80k (Dec)

[minimalistgamer]

This is definitely a humble brag post, so consider yourself warned! :)

At the beginning of this year, we were at $19,227.71, and in December our net worth is at $80,704.86

I am very happy that we stuck to our goals, and we managed to quadruple our net worth. I have not set any goals for next year, but I want to focus less on net worth, and I want to automate our finances, and also have some fun in life.

If you feel like seeing graphs, click here - http://minimalistgamer.blogspot.com/2016/12/yearly-net-worth-for-2016.html

After new year, I am going to work on setting goals, and I will do a 2015 financial retrospective.

Thanks for all your help. I appreciate it.

[MakingSenseofCents]

Great job!

[minority_finance_mo]

Congrats! And also, it looks like you may have double deducted the down payment of your house in 2015. The equity on your home is typically considered in the net worth equation.

Regardless - awesome job! :)

[minimalistgamer]

Great job!

Thank you very much, I appreciate it.

Congrats! And also, it looks like you may have double deducted the down payment of your house in 2015. The equity on your home is typically considered in the net worth equation.

Regardless - awesome job! :)

Thank you very much.

Well, what I did was, I subtracted the down payment from my net liquid assets, because it was a cash transaction, like any other, and then when I was calculating my net worth, I included the mortgage loan as a negative number. I did not include the equity I have built.

So when broken down, the numbers look like this -

Checking - $8,500.00
Checking 2 - $843.35
Checking 3 - $553.20
CD - $100,711.48
Savings - $50,213.51
401k - $25,676.79
Roth IRA - $14,556.95
Brokerage - $4,630.89
Cash - $132.00
Mortgage - (-$125,525.48)
International - $412.17
Total - $80,704.86

If I were to add the equity in the house, I would imagine the net worth will be over $200k at this point, but I don't know if that is a valid way to calculate one's net worth.

[pbkmaine]

Net worth = assets minus liabilities. What you own minus what you owe.

[I'm a red panda]

If I were to add the equity in the house, I would imagine the net worth will be over $200k at this point, but I don't know if that is a valid way to calculate one's net worth.

Your home is part of your net worth.  If you were upside down on your home, it would count against you.

I typically don't bother with "net worth" but rather track my liquid assets when I do these sorts of calculations.