About this site

Welcome to the $1,000,000 blog.

My name is Dan and I am going to raise my net worth from practically zero to one million dollars. This is where I write about how I make, save and invest my money.


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The Million Dollar Blog is no longer active. All posts about my attempt to make a million dollars will appear on my new website: dmossop.zeeblo.com. Please update your bookmarks. Thanks.
 

Current Net Worth - $676

Maria asks:
When will you let the readers know about your total savings+interests?

In a previous post I calculated my net worth as $3670. However, I think it's about time to do an update (and place the total somewhere obvious on the main page of this site).

I currently have:

$2840 in my savings account,
$1185 in my current account,
$107 left in this week's allowance (yup, I didn't spend anything yesterday :),
$114 in my holiday fund.

This gives me a total of $4246. This is a clearly up on what I had before.

I've decided to make a change to the way I determine my net worth, however. I have a couple of big expenses hanging over me - my rent for the month ($570) and my tuition fees ($3000, due in January). Rather than spend time building up my net worth just to watch it get hacked back down, I'm going to deduct these amounts right from the start. I'll quote my net worth not as $4246, but as $4246-570-3000=$676. Sure this doesn't seem like much, but at least I know it is my money. And it means I can watch my net worth grow from here on. For comparison purposes, if I perform the same deduction on the net worth I calculated two weeks ago, I get $100. So my net worth has jumped $576 in two weeks. Not bad!

I'm going to wrap this one up, but I'll post another about how this affects my budget.

Comments:
Hey Dan,

You are doing SUPER Well.

I'm glad you did have the mexican
food with your friends as you
have to live it up a bit too.
that way you are more balanced and
more likely to stick to your plan.

Marie
 
That is great! At least your personal net worth is not in the red. Right now, my current net worth is more than -$22,000, so you are on the right track. :)
 
You've been making great progress though, lpkitten. Shouldn't take you too much longer until you're where I am!
 
Looks like you're moving in the right direction! Good luck!
 
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