Today I got my end of month bank statements, so I decided to make a statement of net worth. I made up a little Excel sheet and listed everthing.
Result
House $130,000
Retirement savings $15,000
All other savings $4,666
Liabilities None
I wanted to see how much of an emergency nest egg I could count on, so I divided the $4,666 by my weekly benefit payment (173.29) and found out it would last over 26 weeks. I am thrilled. Of course some of the current savings is slated for spending on house repairs, holidays, etc, but I would postpone those if I were to suddenly lose my income. My goal is to beef up the amount specifically earmarked for emergencies: I want to have $5,000 in an online account. I also want $5,000 in my "freedom fund" for house repairs etc.
Net Worth
April 7th, 2006 at 10:30 pm
April 8th, 2006 at 12:47 am 1144453642