What do you classify as assets in your net worth calculations ?
Tl:dr - what do you count as assets? How specific do you get? Things like cars or real estate are easy to include and find value estimations of - but what about computers, TVs, furniture ? Or a currency collection of notes worth more than face value? Do you not include them at all or do you only count their estimated market value ? Sure its a relatively small consideration (and one that I haven't included yet) , but id like to hear opinions.
EDIT - I DO NOT CURRENTLY ITEMIZE ALL OF MY BELONGINGS AS I FEEL THIS CONFUSES THE NUMERICAL OUTCOME OF NET WORTH. ITS SIMPLY A QUESTION OF WHAT YOU INCLUDE, AND WHY.
Full - To track progress made in my personal finance department , ive made a pretty in depth workbook series in Excel. I've made the following workbooks : Income, debt , Investments (and net worth) , expenses.
Within the Investment book I have a page dedicated to networth that provides a sum of all current investments, material assets, and debts to generate net worth. Specifically for the material asset / property category , what do you include, and how do you count it ?
For the most part I have just my car, as that's the most expensive piece of property I own (and easiest to calculate based on the market). But if I wanted to get more specific , I have a few things that definitely hold resale value like an expensive GPU from my computer, a rather extensive numismatic collection , a couple of nice OLED TVs, and am probably going to buy a couch soon to replace my cheapie that I've been using for awhile now.
Would you include things like your computer, laptop, phone, furniture in your asset category ? Or leave those off for the sake of simplicity ? How would you count something like a currency collection - knowing that selling it off would take a considerable time investment to get the full value from, but also knowing that it is worth more than the face value of the various notes ?
Thanks in advance for your considerations and opinions.
Posted Mar 10, 2024, 2:51 PM UTC