What is Your Net Worth?

Today I was buying a candy bar at the convenience store, only $0.50, chump change right? Yes, but it got me thinking about how much money I’m spending at the convenience store every week… and furthermore…

How much money / assets do I own total?? i.e. what is my net worth?

So I just spent an hour updating my ginormous net worth excel spreadsheet. It basically has all my assets organized with dollar amounts for every month. I organized my spreadsheet into the following categories:

• CD accounts (Certificate of Deposit accounts)
  1. Account 1…
  2. Account 2…
  3. etc…
• Website Revenue
  1. Google ads
  2. Text Link ads
  3. etc…
• Securities Revenue (Stocks)
• Bank Account Balances
  1. Bank 1…
  2. Bank 2…
  3. etc…
• Music Revenue
• etc…

After organizing all my account balances and revenue amounts, it really gave me a very clear picture of where my income is being generated as well as how much money I have TOTAL. I highly recommend all of you to make such a spreadsheet and update it monthly (especially if you have income coming in from many sources).

Tony Chung is a 27 year young musician/designer and founder of Geekwhat Design. Tony has a EE degree and left his job at Cisco Systems to release 2 albums in Asia and star in a film. This blog is about entrepreneurship, Apple products, music, and financial investing. Read about how he parallels his band with doing business here. (more...)

Tagged as: certificate of deposit, money, net worth, stocks