Yes, after all the turmoil in the markets, I reached a decision. I have decided to blog about my finances in more detail. While the exact extent is uncertain at the moment, I have decided that I need to track the performance of my investments more regularly.
A step back in time!
In truth, I’ve been keeping (initially monthly but now quarterly) updates for more than 10 years anyway. I can trace the finances all the way back to about 1995 when I had just got married. In those days, the record keeping was pretty unsophisticated, but I did use Microsoft Works 3.0 to tote up my assets.
I think it was around the time of the 1996 Taiwan Straits missile crisis that focused my mind on how much money we didn’t have. While things were pretty tense here, it made me realize how important having some cash in the bank was. Shortly after that, I set aside nearly HK$10,000 in a bank account that earned a pitiful amount of interest for quite some time, but at least the money was there, for an emergency.
High or Low? Which figure?
Let’s take a look shall we! We had $66,000 or thereabouts actually in the bank, I also held about NT$7000 in HK$, an outstanding (but never repaid) loan of NT$25000 which I subsequently wrote off, and NT$75,000 from a hui (read more about a Taiwanese ‘hui’). Overall, I would say that this was a pretty optimistic statement because it counted approximately NT$100K of assets that weren’t in my control! This was about US$6300 (at US$:NT$ 27.43167 – an average for that month) or about US$2670 at the more conservative ‘unkind’ evaluation!
Any guesses on what the current figures are? When did you start doing your Net Worth Statements?