Since last year when I started Dave Ramsey's plan, I have paid off a ton of debt. Someday I'll go through the whole list and how much we paid off! But recently I looked at some old files from my college personal finance course. It's a personal balance worksheet. Really it just calculates your net worth.
Well back in '03 while I was a junior in college my net worth was a whopping -8,314. I even owned my own house at that point and apparently had no equity in it. (I thought I did but when I sold it I had to pay 2k out of pocket for the buyer to take it!!) Here are a few pieces of what my previous balance worksheet said:
Bank account balance 2,200
Retirement Accounts 5,700
Mutual Funds 1,032
House 70,000
Credit card balances 3,000
Balance due on auto loan 29,000
Mortgage 68,000
So here it is not even 4 years later and here is part of my balance worksheet now:
Bank account balance 41,000
Retirement Accounts 17,482
Mutual Funds 3,064
House 250,000
Credit card balances 0
Balance due on auto loan 0
Mortgage 191,000
Much Better!!!!! My Net Worth is now $111,273. Most of that has been earned in the past year or so because of my paying attention! I never spent a lot on clothes or going out to eat or anything material before, but I was in debt up to my eyeballs with car payments and loans etc. So a lot happens in a few years. Now if I can just get that same rate of increase for the next 4 years!
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