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Then and now

Then and now

I finally tackled a file drawer that I’ve ignored for several years. Like, more than 10 years. One of the things that I found in the drawer was my very first net worth statement. (It was drawn up as part of a business plan for one of my early businesses.)

I was very surprised to see how far I’d come. In 1997 I had a net worth of about negative $10,000. (I had credit card debt, some 401k money, and about $500 in equity in my home.) I was also just about to take out a student loan of approximately $20,000, which would have made my net worth about negative $30,000.

Now I have a positive net worth, but more importantly, I have the feeling that it’s ok to earn and keep money. In fact, it’s GOOD to do so. Money no longer flows away like water through a sieve. Instead, it’s pooling up.

What’s changed? A whole lot. But the most important change was in my head. I made the conscious decision to get out of debt once and for all, and to live below my means. And it struck me the other night: What if I apply the exact same methods I used to get out of credit card and student loan debt toward MAKING money?

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I can’t wait to see the effects of that.

View Comments (5)
  • It sounds like we’re at a similar place in our financial lives. Mastered the basics, debt free, maxed retirement accts, now ready to enter the world of investing.

  • I’ve always liked looking back at where I was a few years ago it brings in some perspective about the way I treat money and where I am in my life.

    The right frame of mind is very important in tackling anything be it debt and living within your means or making money. I’m glad that I learned what I did over the years because now I’m in a better and more positive place to move in the right direction.

  • I’m at the same place as you as far as being pretty well caught up to the debt and having to switch gears to saving. In some ways I think that it’s harder because the goals are so much more long term. That’s great on how much you have turned everything around :)

  • Congratulations! It’s a good feeling. I’m in the same boat. We’re on an aggressive saving plan and also addressing all our basic money strategies. But I find that the more I research about the possibilities of investments, the more overwhelmed I become. I would hate to be intimidated out of the process, but clear concise information is hard to come by. I’m also skeptical about financial planners since so many only sell their high commission products.

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