Frugal Portland’s net worth is up over 250% in one year!

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

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

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!