Net worth - for what its worth


I used to calculate my net worth every six months or so until the global economic nosedive brought home to me what a pointless exercise this is. Thanks to the exchange rate and later the falling UK house values (which were ridiculously over stated anyway) tens of thousands we knocked off our net worth within a few months. That is when I realized it is just numbers. My house and my Greek house were just as valuable to me as ever. Not to my bank though, who now wont let me fix my mortgage rate as they don't consider my equity sufficient. I am overpaying my mortgage every month to get ahead of the game (hence - always skint).

So this is the story but obviously it is no better than a fairy tale now we know what can happen to values. Its interesting when you see patterns though so I will probably continue to monitor.

UK house - Down £20k according to online valuation
Overseas house & land - Up £22k - all thanks to exchange rates
Pension fund - had a letter through to say how much I was get and how to value it up. It is actually worth almost £210k more than I originally calculated. Obviously I don't actually get any more pension, I was just doing to calculation wrong before.
Mortgage. I am waiting to see my statements I have overpaid irregular amounts but I have overpaid by about £250 per month so I am expecting a good result.

All in all my conclusion - Our net worth is much better than I thought, but only because I was calculating my pension wrongly before. Net worth might be a useful indicator of how you we are doing but exchange rates and values vary so much that I wont be taking it too seriously.

Current net worth is £794,580, at least until I find I have done some other part of my calculation wrong too


  1. That sounds really good. My rough estimate would be $280k. It doesn't seem like much to me but compared to $0 back in 1999, it's a big improvement.

  2. Care to swap mortgages?? Mine would be amazing if I didnt owe of £200k. Lol.


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