Comments on: May ’10 Update http://www.suburbandollar.com/2010/05/03/may-10-update/#utm_source=rss&utm_medium=rss&utm_campaign=may-10-update Where finance and reality meet Sat, 04 Feb 2012 21:54:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Kylehttp://www.suburbandollar.com/2010/05/03/may-10-update/#comment-2708 Kyle Tue, 04 May 2010 20:01:11 +0000 http://www.suburbandollar.com/?p=2421#comment-2708 That is correct, i used to include my home but I decided <a href="http://www.suburbandollar.com/2010/01/04/january-10-update/" rel="nofollow">back in January</a> to no longer include it in the calculation. I don't see my home as an investment, it is where I live so I take it out the equation entirely. In fact last month I started identifying which members of the wealthy blogger list include their home in the calculation. A lot people have "inflated" net worths based on the perceived value of their home. The equity you think you have in your house doesn't actually exist until you sell the house at which point it is converted to cash at the price someone is willing to pay. Home value estimations aren't always very accurate either so I just choose to leave it out. That is correct, i used to include my home but I decided back in January to no longer include it in the calculation. I don’t see my home as an investment, it is where I live so I take it out the equation entirely. In fact last month I started identifying which members of the wealthy blogger list include their home in the calculation. A lot people have “inflated” net worths based on the perceived value of their home.

The equity you think you have in your house doesn’t actually exist until you sell the house at which point it is converted to cash at the price someone is willing to pay. Home value estimations aren’t always very accurate either so I just choose to leave it out.

]]> By: Samhttp://www.suburbandollar.com/2010/05/03/may-10-update/#comment-2707 Sam Tue, 04 May 2010 16:43:19 +0000 http://www.suburbandollar.com/?p=2421#comment-2707 I thought in a previous version of your Net Worth chart, you had the house on there. Why is that not shown anymore? I thought in a previous version of your Net Worth chart, you had the house on there. Why is that not shown anymore?

]]> By: Kylehttp://www.suburbandollar.com/2010/05/03/may-10-update/#comment-2704 Kyle Tue, 04 May 2010 13:02:19 +0000 http://www.suburbandollar.com/?p=2421#comment-2704 True, very true. In an effort for full disclosure I put it on there but you make a good point. If you don't carry the debt it isn't really debt at all now is it. True, very true. In an effort for full disclosure I put it on there but you make a good point. If you don’t carry the debt it isn’t really debt at all now is it.

]]> By: Money Funkhttp://www.suburbandollar.com/2010/05/03/may-10-update/#comment-2703 Money Funk Tue, 04 May 2010 03:09:58 +0000 http://www.suburbandollar.com/?p=2421#comment-2703 Great job on building the Net Worth. Note to self: build Cash Savings like yours. :) .-= Money Funk´s last blog ..<a href="http://www.moneyfunk.net/daily-grind/future-endeavors-and-a-giveaway/" rel="nofollow">Future Endeavors and a Giveaway</a> =-. Great job on building the Net Worth. Note to self: build Cash Savings like yours. :)
.-= Money Funk´s last blog ..Future Endeavors and a Giveaway =-.

]]> By: Mr Credit Cardhttp://www.suburbandollar.com/2010/05/03/may-10-update/#comment-2702 Mr Credit Card Mon, 03 May 2010 20:27:51 +0000 http://www.suburbandollar.com/?p=2421#comment-2702 Don't mean to be picky here. But if you charge something to your credit card and expect to pay it off at the end of the month, that shouldn't be considered debt! That's just an expense that you conveniently used a credit card to charge. Don’t mean to be picky here. But if you charge something to your credit card and expect to pay it off at the end of the month, that shouldn’t be considered debt! That’s just an expense that you conveniently used a credit card to charge.

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