Someone went fishing around for information. I’m sure you can only guess.
Under normal conditions, money isn’t something I’m very eager to divulge to anybody. I keep it as a secret to my family and friends, so strangers don’t have to know. You can relate, right?
Thus, since I started this site a short while ago, I found myself just having to be openly transparent and honest. Because honestly, your net worth is one of the best ways to see where you stand financially. 😊 Everybody needs a Start Here point. So, do you know YOUR NET WORTH?
Insanely, I decided that you know what? I must do this. I’m trying to be Financially Independent and I believe that both my small wins and shortcomings could be valuable information for others, especially my boys. And in my opinion, so far going through this program has been fun… and I’m still on Step 1! You can see who’s the crazy fishing damsel here.
Presently, continuing with Liquid Assets, I need to also account for savings accounts, checking accounts, savings certificates or certificates of deposits (CD’s), US savings bonds, etc. I’ve only listed the very few that I have and am considering getting. I pulled out my trusty cellphone (Samsung all the way!) and was on my way to being straight up Accountant/Private Investigator. “These figures could be better,” I thought.
Cash on Hand: $65
Savings Accounts: $17,000
It’s a perfect number because I just funded it that way the beginning of this month, also split into two accounts. The first houses my Impasse Fund which is $11,000 – only to be used in situations where the use of other funds is literally impossible. Some people call it an Emergency Fund, and the book calls it a Cushion. I decided to change its name several years ago because the Oh Shit Fund gives a few people misinterpretations.
The second houses a regular savings for my youngest son at $6,000. I have been doing my best to save a thousand for every year he gets older. And yes, he’s 6 years old now.
Checking Account: $7,037.92
Also split into two accounts. The first is my personal checking account $6,923.67 and my second checking is for my oldest son and it houses his allowance with a current value of $114.25. It is under my name until he turns 18, then it will be automatically under his full control. He is to always have a minimum of $100 in the account for what he personally named, the Meltdown Fund.
And there you have it, $24,102.92 in current liquid assets! I think I’m starting to like fishing!
Now there are still FIXED ASSETS and OTHER ASSETS to go through.