Photo by Lukas at Pexels
In the personal finance blogosphere, net worth updates are the norm. Bloggers happily reveal all when it comes to their financial lives—and I think it’s awesome.
This transparency has started new conversations and is helping to break down money taboos. All of this leads to greater financial literacy and more people improving their financial situations.
How could I not get behind that? It’s amazing what these bloggers have done!
While I’m in full support of my fellow bloggers, I myself have never released a net worth update. Why is this?
Well, it all comes down to one simple reason: I’m not comfortable revealing our actual numbers! And since I wouldn’t be including numbers, I figured my net worth updates would be boring and unhelpful… so I never released one.
Why I’m keeping our numbers private
I’m all for transparency, but for now (and likely forever) I’m keeping the numbers behind our net worth and annual spending private. Here’s why:
- If I was 100% anonymous, I’d happily reveal all. But I’m only semi-anonymous, so I’d prefer to keep our numbers under wraps.
- M loves his job and plans to continue working even after we reach FI. Revealing our net worth could give people the wrong idea and jeopardize his career options.
- I’m lazy, and math isn’t my strong suit! Reporting my numbers accurately each month would be time-consuming and I’d constantly worry about making a mistake.
A change of heart
My decision was made: I’d never post net worth updates. But over the last couple of months, I’ve had a slight change of heart.
You see, as I started following more FI bloggers, I noticed something: the numbers in their net worth/monthly spending posts weren’t all that important to me.
What I really enjoyed were the life updates that went along with these net worth/spending reports. It was fun and interesting getting little glimpses into these bloggers’ lives—and a big part of why I keep coming back to their blogs.
(I’ve been especially inspired by Sam’s updates at A Simple Life. Every time I read one of her posts, I feel like I’m in the English countryside!)
Through Sam and other bloggers, I realized net worth/spending updates aren’t just about the numbers. And that meant it might not matter if I didn’t include numbers in my monthly updates.
Hmmm… the gears started turning.
The grand plan
After mulling it over, I decided that I could post monthly updates—even if I didn’t share actual numbers. And they can still be helpful and interesting by including a few key things:
- A chart to show our progress to FI (with a percentage to indicate the increase/decrease in the value of our investments).
- Updates on the money and FI-related goings-on in my life (with commentary on the why and how behind our decisions).
- Actual numbers for some of our expenditures. (I figure randomly revealing some of our numbers won’t be revealing too much—I’m comfortable with that!)
My goal is for these updates to both inform you and help you get to know me and my family a little better—even without the numbers.
My first-ever FI progress update
With all that said, I wrote my first-ever FI progress update! Click on over and give it a read. (And please let me know what I can do to make future updates more interesting or useful.)
What do you think?
Do you share net worth updates on your blog or with family and friends? How do you feel about all this financial openness? Comment with your thoughts below!
Support this blog
If you liked this article and want more content like this, please support this blog by sharing it! Not only does it help spread the FIRE, but it lets me know what content you find most useful. (Which encourages me to write more of it!)
You can also support this blog by visiting my recommendations page and purchasing through the links. Note that not every link is an affiliate link—some are just favourite products and services that I want to share. 🙂
As always, however you show your support for this blog—THANK YOU!