I was super into it while I was paying my credit card debt down. Now I don't even check it regularly. I don't care.
With student loans up next at bat, I'm on this journey to becoming debt free. At the end of 2015, I won't own anything and I won't owe anything. It'll be just me and the clothes on my back. LOL!
Well, I kind started following a few radical, debt-free folks on Twitter. I haven't fully committed to their lifestyle of not being in debt ever again or not buying things that require payments in installments. I am, however, open to new and different ways of thinking about money and wealth and my newest obsession is understanding net worth.
Put simply, net worth is what is owned minus what is owed. Your assets minus your liabilities and man, as Americans, we are doing it wrong.
According to the Russell Sage Foundation, the median network for Americans is about $56,000, which is down a third from 10 years ago.
Other reports says it's as low as $45,000. What's worse is that the AVERAGE for the U.S. is $300,000. So what that's saying is a few families: the Trumps, the Hiltons, The Gates and the Obamas got it... and the rest of us don't.
New goal is to get my net worth above the median in the short term. Get above the average in my 5-year plan and figure out how to get my family in top 1% before I die. I think this is a solid plan. Who's with me?
P.S. I realized I'm more interested in personal finance than most when I got all excited about a Suze Orman money calculator at work and no one shared my enthusiasm. I sucked at econ, but money is so fascinating to me. Can't wait to learn more!