No one wants to be broke, living paycheck to paycheck, or struggle with money. Everyone wants to succeed with their finances. But many people struggling with their finances don't know the details of how their money works. If you really want to succeed in personal finance, you have to treat your finances like a business.[Read more…] about The Complete Beginner Guide to Personal Financial Statements
Do you own your own car? According to a few different surveys, there is a 95% chance that you do! In fact, many households have two cars or more to get them through their day to day activities. So, it is likely that you own at least one vehicle. Do you have any idea what that vehicle is doing to your net worth? I bet it might have more of an impact than you think.
Are you determined to get out of debt and grow your wealth? When I made the decision to get out of debt, all I could focus on was the current day, or at most, the next day. I had to deny myself various pleasures each and every day so that I could have that extra hundred bucks at the end of the month to put toward my student loans. It was certainly a step by step process, which required me to keep my head down and plod through each day.
Have you ever had the urge to get rich? To go out to eat whenever you wanted, buy that perfect cottage on the lake, and travel to every possible country you can think of? It sure sounds nice doesn't it? Many people actually have this lifestyle, but there's just one problem – they are NOT rich. They are just as poor as you or I (maybe poorer). Sure, they might earn more money per year, but they keep very little of it because they are too dependent on credit to make a life for themselves. The trips, the fancy dining, and the cottage are all on credit, and their net worth is peanuts – a couple thousand dollars if they're lucky.
In October 2008, the first month this website existed, I started publically tracking my net worth. I made updates here every month, which eventually included and led to my popular monthly income reports. These began as a monthly series, but in the spirit of a better navigation and reading experience, I merged the early versions into this single article. Now you can browse and watch my net worth develop over time as I went from a near zero net worth in grad school to the $500,000+ net worth I enjoy today.[Read more…] about My Net Worth, What's The Deal?