My net worth is up 250% for 2012!
This is probably the highest increase it’ll ever be. I’m going to reset it next month, so that the percentages don’t get too crazy out of control. Please note that it is really easy to increase your net worth by 250% if you start near zero.
Still, I’ve come a long way in 2012.
Net worth for December 2012 – up 10% from November and 253.51% since January!
See, I’m worth a lot. Not quite worth putting a hit out on me, but worth a lot more than at the beginning of this year!
Here is the state of my liabilities:
Liabilities are just under $7K
Real progress has been made here, too!
So many good things are happening around here — I was looking at this the other day, realizing that the greatest thing about this chart (other than the fact that the credit card line isn’t a player anymore!) is that both of these debts are finite. I’m not going to finance a car again, and I’m not going back to college (though my fresh face makes people ask if I’m a student).
Now, if I buy a house, the liability chart is going to look all kinds of ridiculous, and the amounts I owe ($2628 on the student loan and $4125 on the car) are going to look miniscule by comparison. But that’s okay. I have to live somewhere, and if I can find something that doesn’t break my budget, then it’s better to pay my own mortgage than someone else’s.
I still don’t see my car as an asset, but as Jeff explained, assets are things that banks (or credit unions) can take away if someone doesn’t pay. So, it’s an asset until it’s paid off, I guess. The asset I’m much more interested in is the IRA, which, HELLO, is going to be maxed out for 2012. Unfortunately, not in 2012, but that’s why the IRS lets you contribute up until tax day.
I started 2012 in credit card debt, and I have nearly quadrupled my net worth in 12 months.
I think it’s safe to say that this blog played a huge role in my personal financial success.
So, thanks, everyone, for your advice, referrals, and kind words.
Let’s see what 2013 brings!
Congrats! I feel like a lot of people in the pf community are doing really well right now. Must be something in the air! :)
If only I could have a bit of your air, Michelle :)
Love it! Congrats on wiping out so many liabilities this year.
Though, in contrast to Jeff, I (actually in today's post on our blog) generally use the rule of thumb that if you've got a yearly tax liability because of your ownership of something, then you should count that *thing* as an asset. So even after your car is paid off, I think it should be included as an asset as long as you're still paying registration or licensing fees every year. That's how we look at Mr. PoP's current daily driver, anyhow.
Awesome, I\’ll ask my questions over on your post!
Congrats! It looks like you paid off a ton of debt in just one year….very impressive progress!
Thanks! Yes, 2012 was the year of debt repayment but I\’m happy to say I maxed out my IRA (or will, before taxes)!
[...] over a Frugal Portland reported that her net worth is up over 250% this year! Way to go [...]
Way to go big balla! You know what that means right?
Shots on Kathleen!
Btw, take a dollar and double it. How many times do you need to double it to become a millionaire?
In your case, you are 2.5Xing it!!
Oh, Sam, don\’t tease — you know I\’d buy you a shot ANY day! Although, a beer is probably a lot more enjoyable at your age. ;) (Get it? it\’s a retired person joke!)
You could have easily called this post "lines going up!" Nice work. I love percentages, too. They make everything so awesome. When our blog went from 10 readers to 15, OG & I would say "50% increase!"
lines going up? NOBODY wants to read that! They\’ll think I\’m talking about standing in line. Ridiculous percentages are the most fun. At my job, we started with six customers, and now we\’re at 300 — I was going to put that in percentages to justify a raise but it\’s so absurd that I had to just use real numbers.
I think it is as good time as ever for you to jump into home ownership, Kathleen.. Your numbers and the amount of progress that you have made is just completely kick-azz!.. Keep it up!
Thanks, Jeff! I\’ll keep you posted. I always send Michelle my current favorites.
Good work. It can definitely be skewed if you have a low number, but anything that positive shows you're moving in the right direction.
haha seriously — the percentages are ridiculous, but SO motivating.
Wow, 250% is AWESOME! Great job this year. Good luck in 2013.
Congratulations! Keep the trend going.
Thanks!
"Please note that it is really easy to increase your net worth by 250% if you start near zero."
This made me LOL. But seriously, it looks like you are doing awesome!
Sometimes percentages are ABSURD but it\’s fun to brag — it sounds better than \”HOLY COW I\’M WORTH ALMOST $15K NOW!\” :)
It is all about seeing the glass half full! Awesome progress!
You are so inspiring Kathleen! Seriously, keep up the good work!!! :)
Thanks much!
Way to go. The 250% may be the result of small numbers, but a 10% change over one month is nothing to sneeze at!
I think you were the one who inspired that! You commented last month about trying to go for 250%. So thank you!
Woo hoo! Congrats! That's a great way to go into the new year!
Ha, I was going through a list of people to email today from YvD, and I thought, "Gosh, I wonder how she's doing…" and then I came and read this post and saw YOU'RE ROCKING IT!! Way to go!
Wow! I love seeing increases like that – it's just so motivating!!! My net worth went up about 150% last year and so far it's up about 50% this year and they're just going to get smaller from here, so I don't care about the percentages so much anymore. I'm sure you'll have those liabilities gone any day now!!!
Oh awesome! I\’ll focus on percentages until the dollar increases are more exciting!
Congratulations you must be very proud to see all your hard work pay off!!! Mr.CBB
Thanks! It is really cool.
Congrats! I love this chart – and that you've got it pulling out of the negative, moving upward; a lot of people would have put it above the x-axis and have it moving downward, but this is far more forward-thinking and optimistic!
[...] lastly, Kathleen at Frugal Portland had some great traction in her net worth this year, getting 250% net worth growth in a year. Even though her percentages might not look as impressive as her net worth continues to [...]
Congratulations on that! Keep it going! I have to say it's really inspiring and motivating.
Congrats! That must be a great feeling. I like running my net worth every month, it's something I get kinda excited over. Granted, on a down market month, it does drop and bum me out since most of my net worth is in stocks and retirement accounts, but often I can offset with monthly contributions!
Agree! Right now, my only \”market\” play is with my IRA, so it doesn\’t affect me too much.
Way to go! Doesn't it make you wonder if you could grow your net worth by 250% again next year? I mean, did you really think it would happen at the beginning of this year? You never know…
Starting the NEW YEAR right! 2013 will be fantastic.
[...] Portland with Frugal Portland’s net worth is up over 250% in one year! Congrats! This week is full of congrats, [...]
Congrats! You've inspired me to check my progress too. 2012 was a 430% increase for me. Feels great!
HOLY MAJOLY! That\’s amazing@! GREAT WORK!
Wow, that's such an awesome percentage increase! Go girl! My net worth will probably be negative for a while, but it's all about slowly getting to that zero point for me! I look forward to seeing how your 2013 goes. I hope it's even better than 2012!
I can see yours skyrocketing past med school!
Incredible increase, I hope to get to the 200% mark this year! Good luck to you in 2013!
Good luck to you too! Check back in!