Thursday, April 16, 2009

Should you calculate a diamond in your net worth?

So recently I bought a diamond ring for my girlfriend. I have been wondering once we get married do I included it in our net worth? I honestly don't want to because I feel it is not a true value of our net worth. I plan on never selling it and pray that nothing ever comes to that point, but I just don't see counting it unless I someday planned on liquidating it. 

I did some research online a see what you should add  and found this over at Money & Happiness here is an excerpt from here net worth article
"Next, imagine you have decided to sail around the world and liquidate everything you own, from the high-definition television on the wall to your four-carat diamond ring. You should ballpark everything..."
I am sorry but I just don't feel like this is real assessment for my net worth, I don't like to account for my vehicle either. I just feel like its not making me wealthier? I will add my home value one day when we eventually own because we are building equity. A Home can gain value and lose value but a automobile just seems to always decrease in value, it is not a investment. 

Does anyone else seem to think that I am in the wrong here and that I should be adding up jewelry and auto with my net worth? I am counting my automobile debt, and I am counting the debt for the ring (12 month 0% APR before someone gets made at me).

Please let me know so I can figure this out!
For more information about my net worth click here.

1 comment:

  1. haha, that is awesome. i'd totally include my diamond earings if i were doing a "add up everything in my house" type net worth. I agree that it shouldn't be in there, but that's just me.

    some people add up whatever they feel like they could sell and get back in return. it makes sense, but man it takes a lot of time. and plus, the odds that you'd ever do that are slim so no point to me.

    i do, however, include our cars at an amount i feel we could probably get for them. after all, if you have outstanding car loans that goes into your net worth right? if your car is a piece of crap and you owe a lot though, then forget it ;)