Thursday, June 12, 2008

Net Worth

As I mentioned in a previous post, I recently bought a personal finance book, Personal Finance for Canadians for Dummies. This book is great so far, its basically everything you ever needed to know about personal finance. The only downside may be that it's SO much info, its a little confusing at times. Anyways, reading this book got me thinking about my net worth, so I sat down and calculated it.

Net Worth:
Savings Account: $1346.11
Debt: $4890.65

Net Worth = -$3544.54

Although this is a negative number, I don't feel bad about this. Mainly because I feel this is not bad for only being 21. I didnt start off with a huge amount of debt, because my first year of school was paid for with bonds my grandparents gave me every year from when I was born until I turned 18. So that paid for my tuition, and my parents paid my rent most of the time. So I only had to get a loan for my second year. This is the main reason why I have less debt than all my other friends from college who got loans for both years. So even though I'm in the negatives I feel I'm not too far away from the positive side of things.

3 comments:

Fabulously Broke said...

That is DEFINITELY not bad at all.

At 21 I was probably already another $10k in debt or something

At least you're thinking about money now.

Thanks for coming by - am gonna add both of yer blogs to my google reader

Financial Jungle said...

-$3,544? You're ahead of the game. I owed $13,000 when I graduated at age 23.

Dolly Iris said...

Yes, I believe I was deeper in the hole at that age as well unfortunately. We are all lucky to be in our twenties and figuring it out now instead of later.