Wednesday, July 18, 2007

No More Net Worth

...But money deceives. It cannot buy any of these things. While our self-esteem may get a boost in the short run, eventually it falls because all we've done is conform to the expectations of others rather than find value in our own uniqueness. Ultimately, all financial fallacies say the same thing: that our net worth can tell us about our self-worth.

I'm not sure a single reader noticed, but the right sidebar of Money Musings no longer contains a link to my net worth and profile at NetworthIQ. There are a few reasons for this:

  • Who cares? I just don't think it's all that important to the blog, really. Sure, every so often a reader would click that NetWorthIQ link, probably just out of curiosity. Big whoop. If anything, it was there for me more than anyone else. And I don't need it: I have Quicken to tell me what my net worth is at any given time.

  • Privacy. Not that I have any left, really. After running this site for more than five years, well, I'd be deluding myself if I thought I had so much as a shred of anonymity left. But still: I've lately found that I do feel more comfortable when I keep my net worth under wraps.

  • Other things are more important. I'm still tracking and discussing my Savings Goals and Debt Paydown publicly, and I think those items are significantly more beneficial (and perhaps tangible) to everyone involved — myself and readers alike. I've never had any specific "Aim for Such-and-Such a Net Worth" goals, anyway. This isn't to say that I'll never talk about it going forward, but I'm not going to have it hanging out there 24-7.

  • Net worth doesn't equal self worth. Suze Orman has a little credo that she occasionally recites, and I believe it goes something like this: "Self worth equals net worth." I know what she's getting at — that you have to value yourself before others will value you — and I think there's a fair amount of truth to it when the precepts are applied correctly. But because I see so many people going ga-ga over folks, usually celebrities, who flaunt their money and pricey toys, I just want to do my (admittedly miniscule) part to bring the meter back the other way. I don't value other people by their net worths, and I'd hope others don't value me by mine. (But I know many people will do so, no matter what.)

  • Brother, can you spare the time? Keeping the numbers updated at NetWorthIQ takes time. Not much time, but even so, I'd rather spend what free time I have doing other stuff. Like writing articles and building spreadsheets and trying to master QuickBooks.

In any case, I'll trust that no readers are too bothered by the disappearance of my Net Worth link. Besides, if you just have to have a Net Worth Fix, there are plenty of other bloggers who are willing to divulge their dollar signs all day long.

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— Posted by Michael @ 5:55 PM


mortgage interest rate of 2.75%

Wow!!!!!!!!! I see why you are in no rush.

Michael you are very focus, almost $15K saved and almost half of your debt paid. You have discipline.

I'm not sure how much you make a year, but you can probably pull it off in a year or so



Agree with you. The debt paydown and savings goals tracking is more beneficial for everyone.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]