march net worth preview

I track my net worth bi-monthly. That is, I calculate my net worth on or around the 15th of March, May, July, September, November, and January. The reason I do this bi-monthly instead of monthly is because I feel that tracking it monthly would create to much 'noise' or variance in the figures. I feel that spreading out the tracking period to 60 days versus 30 days provides a better picture of how we are doing vs. a choppier graph that month to month variable expenses and income, as well as stock market fluctuations can skew.

Here is breakdown of our progress since I've started the moneygardener

Since I started tracking my net worth in May of 2006, I consider my fiscal year for net worth May to May. So when May, 2008 comes and I am showing my one year (let's call it 2007) progress you'll know where I'm coming from.

The value and meaning of net worth have been debated among bloggers ad nauseam on personal finance blogs. Personally I really like the whole concept of net worth, and I make it a priority to strive to grow ours. Much of one's personal finances can really be boiled down to net worth. Blogger Frugal Trader (FT) over at Million Dollar Journey actually compiled a net worth ranking of personal finance bloggers. I thought this was really interesting, and apparently others did too as there were 86 comments on the post! I was 10th on the list out of 13 bloggers, I really hope FT continues this idea as a regular series of posts, as more bloggers participate.

I'll complete my March, 2008 net worth within the next few days. This update will include our new RESP account as well as some serious carnage from an angry stock market...