tag:blogger.com,1999:blog-14245531.post116242144187709541..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Net Worth UpdateMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-14245531.post-1162732755047155342006-11-05T08:19:00.000-05:002006-11-05T08:19:00.000-05:00I really like you're blog. I created a blog about...I really like you're blog. I created a blog about personal finance for military members. I wanted to know if you would like to exchange links. Thanks.<BR/><BR/>Brandon J<BR/>http://moneyformilitary.blogspot.com or e-mail me at bjone6@gmail.com.Anonymoushttps://www.blogger.com/profile/16029795677441681946noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1162501053899623812006-11-02T15:57:00.000-05:002006-11-02T15:57:00.000-05:00Anon 3:01, I think you are overcomplicating things...Anon 3:01, I think you are overcomplicating things-- the amount of interest paid doesn't have any bearing on your net worth, it's just an ongoing variable expense.<BR/>Your net worth is a snapshot of your assets and liabilities at any given point, so it's:<BR/>assets (cash, stock, today's resale value of home) minus liabilities (debt, credit card balances, today's balance owed on mortgage) equals net worth.Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1162497672252903932006-11-02T15:01:00.000-05:002006-11-02T15:01:00.000-05:00open question...how do you apply house purchase to...open question...<BR/><BR/>how do you apply house purchase to net worth? <BR/><BR/> net worth<BR/> (-) purchase price of house<BR/> (-) interest pd to date<BR/> (+) equity which has been built up. <BR/> (+) appreciation of house <BR/><BR/>the fact that the interest is amortized throws me for a loop...for the first few years you end up paying much more for the use of the money than you do towards the property.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1162492174427079602006-11-02T13:29:00.000-05:002006-11-02T13:29:00.000-05:00I will definitely count my mortgage debt as a liab...I will definitely count my mortgage debt as a liability, but when you do that, you also have to count the entire value of your home as an asset, not just the amount of equity. The value minus the debt equals your equity. You can sell off your house to pay off your mortgage, so the liability and asset more or less balance each other out, unless the market value changes drastically.Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1162490361116915282006-11-02T12:59:00.000-05:002006-11-02T12:59:00.000-05:00Are you going to count your mortgage as "debt," an...Are you going to count your mortgage as "debt," and your equity, of course, an an asset, as you build it? Won't your mortgage then severely affect your net worth?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1162475406538479472006-11-02T08:50:00.000-05:002006-11-02T08:50:00.000-05:00I remember when we bought our house. I was terrif...I remember when we bought our house. I was terrified, but now that we've been in here for 15 years and it's paid for, I look back and wonder why I was so worried. <BR/><BR/>It's very comforting feeling to know that as long as we can afford to pay the property taxes, we'll at least have a place to live no matter what (barring any catastrophic event, of course).Anonymousnoreply@blogger.com