Waffle
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Post by Waffle on Jun 2, 2011 20:40:16 GMT -5
The join NetWorthIQ thread made me wonder. It looks like that site is geared towards people making monthly updates. I don't watch it anywhere near that close. At any given time I could figure a ballpark number, but to actually check all the latest statements of accounts and debts - I might do once or twice a year.
What about all of you, how closely do you watch your net worth and how often do you calculate it?
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reader79
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Post by reader79 on Jun 2, 2011 20:53:22 GMT -5
Every two weeks in my excel sheet. Sometimes right after payments clear on my student loans because that's a nice chunk. Now that it is finally positive, I love to see it grow.
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on Jun 2, 2011 21:03:28 GMT -5
ummmm ... never?
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Post by BeenThere...DoneThat... on Jun 2, 2011 21:07:07 GMT -5
ummmm ... never? ...we ballpark it... we know it's positive and growing, but we don't have exact figures...
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midjd
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Post by midjd on Jun 2, 2011 21:09:28 GMT -5
I check my Mint account every day, and it's on there... if it wasn't for that, I'd probably calculate once a month or so. But I'm really trying to get up to zero by the end of the year (around -$6K now).
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Deleted
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Post by Deleted on Jun 2, 2011 21:11:48 GMT -5
everyday since it is there on Quicken
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Deleted
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Post by Deleted on Jun 2, 2011 21:22:48 GMT -5
I track mine about once a month. But that is a recent compulsion - mostly because if the market doesn't tank too much further, my net worth should tip from negative to positive with my next student loan payment.
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dancinmama
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Post by dancinmama on Jun 2, 2011 21:27:04 GMT -5
Usually on December 31st and I staple it to the year's tax return (when I finish our taxes) and file it.
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HoneyBBQ
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Post by HoneyBBQ on Jun 2, 2011 21:28:25 GMT -5
Around once a year.
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Post by BeenThere...DoneThat... on Jun 2, 2011 21:30:42 GMT -5
...oh yeah... we have exact figures at tax time...
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brdsl
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Post by brdsl on Jun 2, 2011 21:47:55 GMT -5
Quarterly.
Anymore, I feel like I am obsessing.
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DVM gone riding
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Post by DVM gone riding on Jun 2, 2011 21:59:03 GMT -5
I have an excel spreadsheet, I update monthly. but now I am tracking the growth ;D
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lynnerself
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Post by lynnerself on Jun 2, 2011 22:03:04 GMT -5
Once a year, in January, after all statements are available for the year/quarter.
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Deleted
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Post by Deleted on Jun 2, 2011 22:28:36 GMT -5
Once a month
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Deleted
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Post by Deleted on Jun 2, 2011 22:57:04 GMT -5
"Quarterly. Anymore, I feel like I am obsessing." Or maybe I'm really lazy? I've never figured out how to download our Deutsche Bank Acct so I have to do a manual input of each entry. Although my German is progressing I'm not (and probably will never be) fluent. And DB charges you for the helpline! Dealing with the account makes me cranky, LOL.
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Gardening Grandma
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Post by Gardening Grandma on Jun 2, 2011 23:04:28 GMT -5
once a year. after the first when I start working on out taxes, I figure out our nw as of Dec 31.
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lurkyloo
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Post by lurkyloo on Jun 2, 2011 23:18:02 GMT -5
I like to ballpark it once a year in April, right after DH gets his bonus and we get our tax refunds back
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MN-Investor
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Post by MN-Investor on Jun 2, 2011 23:22:36 GMT -5
I have an Excel spreadsheet which tracks our net worth. I started it just before I quit working in '99. I updated it mostly yearly until about 2006. Since then I've been updating it monthly. I'm not sure why. It only takes about 15 minutes to update it, so it's not difficult.
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Peace Of Mind
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Post by Peace Of Mind on Jun 3, 2011 0:05:43 GMT -5
I check ours quarterly when we get our statements for our stocks, IRA's and 401K's, etc. It's a rough estimate and it keeps me motivated. I don't have the spread sheets that show every penny, etc.
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on Jun 3, 2011 0:09:47 GMT -5
So do you go online and check the value of your homes, too? Around here, the real estate market is pretty volatile. Or do you not count the equity in your home toward your net worth?
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DVM gone riding
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Post by DVM gone riding on Jun 3, 2011 0:48:48 GMT -5
molly ok so I cheat and don't change the value of my house (it counteracts my SLs) but I do go online and check the car and stuff--that I do about once a year. I check the bank accts/stock accts etc monthly and update that.
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Peace Of Mind
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Post by Peace Of Mind on Jun 3, 2011 1:19:33 GMT -5
Molly, I do add a guesstimate of our property out at the lake and our house here in our net worth. I refinanced for a lower rate a year ago so have an idea what our home is worth based on that appraisal and what has been selling in our neighborhood. I also use the median of Zillow's value. Again - it's not scientific, but a ball park net worth.
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lynnerself
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Post by lynnerself on Jun 3, 2011 1:58:21 GMT -5
House based on tax appraisal (fairly close) minus mortgage. Blue book value of cars less loans.
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achelois
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Post by achelois on Jun 3, 2011 3:45:55 GMT -5
Every day on Quicken. I am tempted to use my county's new valuation for the house value but I don't because I think they are FOS.
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qofcc
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Post by qofcc on Jun 3, 2011 5:01:36 GMT -5
I update the balances on my debts and investment accounts monthly because I'm tracking debt reduction and change to net worth more closely than actual budget line items. I update the value of the house and cars annually.
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telephus44
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Post by telephus44 on Jun 3, 2011 7:33:22 GMT -5
Before I joined the NetworthIQ, I did it annually on our anniversary. I actually kind of like doing it monthly - it allows me to see progression. Calculating it annually, we had so much stuff in the first few years we got married that it was tough to see trends.
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Deleted
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Post by Deleted on Jun 3, 2011 7:37:11 GMT -5
I used to have an excel spreadsheet that I updated my networth on every payday, which is twice a month. But I lost that spreadsheet when my computer crashed. SO now I used networthiq and update it once a month.
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garion2003
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Post by garion2003 on Jun 3, 2011 7:53:19 GMT -5
I joined that Networth site and promptly forgot about it (the bumping of that that thread made me go update it last night!). I'm now debt free, and really don't count my car (my only asset) as part of net worth so really I just focus on looking at my retirement accounts. That's my big focus right now!
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jd2005
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Post by jd2005 on Jun 3, 2011 8:59:06 GMT -5
Monthly. It really helped me get a grip on my situation.
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Deleted
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Post by Deleted on Jun 3, 2011 9:09:02 GMT -5
Molly, I update the house values at the same time I update the mortgage balances. The values haven't changed much over the past year as far as I can see. I make a guess based on the comps I see on Zillow, not the Zestimate. Their value seems to be based mostly on sq.ft. and lot size. That works in a cookie cutter subdivision with similar construction and features. My properties are either custom or semi custom, have been updated and most have some amazing views. These features tend to give them a bit of a premium and makes them difficult to value. Of course none of it is terribly important until we go to sell.
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