Your Money or Your Life states, “In listing these, start with the obvious: the market value of your major possessions – for example, your house, your car(s)… Go through your attic, basement, garage, and storage shed. Itemize everything worth more than a dollar, without subjective evaluations like “That’s worthless.””
Hook me up with an inventory person because I must go through three bedrooms, garage, storage area, kitchen and living/dining room.
Most of the approximation of cash value would come from the vehicle, electronics, and supplies from expensive hobbies (scuba diving and/or snowboarding anyone??) Did I also mention we JUST bought new furniture last year?!
I also share expenses with a significant other and I’ll have to deduct my oldest son’s stuff since he’s turning 18 this year but besides that point, put together our fixed assets would be approximately between $50,000 to $60,000.
Honestly though, for the sake of simplicity, I’m not counting any of it. Big fat ZERO for fixed assets because 1. I use up things until they either need replacement or wear down badly and/or 2. If they’re still in great condition after a decade, items are either traded in or given away for free.
Uh, so what I got so far:
Liquid Assets – $24,102.92
Fixed Assets – ZERO
But Other Assets… now this part is where it becomes very personal, embarrassing, humbling, painful and maybe even disengaged yet… free.