As I’ve mentioned before, I really like the online budgeting tool Mint.com for a variety of reasons. One of which is their ‘net worth’ calculation, which takes into account all savings/investments, checking account totals, and debt.
I’ve been watching our net worth slowly go from negative in the last year (quite a bit negative) toward positive. I think this month it will turn positive and, with good planning, never be negative again. Wahoo!
This doesn’t mean we’re out of debt, it just means that all of our assets will outweigh our debts. One thing that Mint cannot connect to is my pension at work, which grows very slowly but safely. Yes, I’m a 20-something with a pension plan. I did also manually add a few big-ticket assets to Mint, mainly our vehicles. If worse really came to worst, we could sell a car since we live within walking distance of our jobs.
I am hoping that our net worth reaches $1 million sooner rather than later, and not even really just hoping, but planning and then planning some more.