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« It's Not What You Make, It's What You Spend, Part 3 | Main | You Can Beat Debt »

August 11, 2005


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I don't have an opinion on the net worth thing one way or the other. I post mine because my blog is my personal finance journal, nothing more and nothing less, and tracking my net worth along with my spending habits is a way for me to chart my progress. For me it's a replacement of the good old fashioned pen & paper method, the only difference being that now people can see what I write (but that's why I use an alias instead of my real name ;)

I like seeing other people's net worths for the same reason I like the "me" aspect of the blogs. It makes me feel less like I am reading a newsletter and frankly, if I really want stock advice I would probably check morningstar before I check a personal finance blog. What helps me though is hearing about people's experiences with different financial institutions, their thought processes and the angle from which they approach financial decisions etc. Everyone has a slightly different, an unique take on things and that's what draws me to them. Sometimes it gives me a broader perspective on things, sometimes it helps me relate and sometimes it simply helps me see things in a new light.

I post mine because that's the whole point of having my own blog. To help *me* keep track and achieve financial freedom. If I want just personal finance tips, I read Kiplinger's or SmartMoney magazine or CNN Money or MSN MoneyCentral. I like seeing how other people are trying to advance themselves, or already have advanced themselves, whether good or bad.

I post my net worth because it helps me stay on track and forces me to be honest with myself. I had a couple bad months, and by writing them down I took the first step to correcting my course. I also don't increase my home's value on paper because it would (artificially?) inflate my net worth and it would probably lead me to not try as hard. I would rather track my actual progress towards building equity than my "progress on paper".

I should also add that I like to see other bloggers' progress because it make it more real. I especially admire those that are digging their way out of debt. Often they are the most disciplined, and the ones making the biggest changes in their lives and are to be commended for sharing their learnings with other.

As you could imagine, I love the idea. It's what our site is all about. I think it's fascinating to watch people track their net worth and be willing to put these kinds of details in their blog. I absolutely agree that the personal nature of these blogs is the main reason for their appeal. Posting net worth not only provides a way to monitor one's progress towards their goals, but by you putting them in your blog, it makes it easy to compare the bloggers (I know it's not a competition, but it's still interesting) and provide a bit more context to their blog.

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