plonkee money an english-er's thoughts on personal finance

January 2, 2008

net worth 2008?

Filed under: plonkee — Tags: , — plonkee @ 12:00 pm

I’ve a while ago my net worth position in 2007. A year has gone by, am I any richer?

Of course, since I started blogging, I’ve become immeasurably richer just by interacting with all the people here. I’ve had similar results with some other things that I’ve done in 2007. My life is rich.

My financial situation is a little different. Although I’m theoretically happy to share the details of my net worth, since I bought a house, they’re a little more difficult to calculate. Basically, I can’t work out how to value my house because I don’t know whether the market is stagnant or falling.

Anyway, cashing up, board game style I have (rounding for laziness reasons):

  • £5500 in savings accounts
  • £12850 in investments
  • £97000 in house
  • -£9800 in student loans
  • -£87000 in a mortgage

This leaves me with an approximate net worth of £18550 – I’ve assumed a stagnant housing market here so this figure is plus or minus £5k.

This is a serious amount more than my net worth in 2007, but I received a windfall last January and a couple of gifts – these formed the house deposit, and/or have been allocated towards improving the said house.

The plan for 2008 is to increase my net worth further by saving and investing 16% of my income (my arbitrary but achievable target).

How has your net worth changed over the last year and what’s on the cards for 2008?

Here’s what some of my blogging friends are saying:

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