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How Do You Calculate Net Worth For Couples?

Posted By Jim On 10/25/2006 @ 11:20 am In Personal Finance | 25 Comments

I haven’t calculated a Net Worth value in several months now, mostly to hide the fact that I bought an engagement ring, but now I have a dilemma. Since my fiancée and I have begun using a joint checking account and direct depositing all of our money into it, I have no idea (or concept) of my net worth, only our net worth. So, I wanted to ask every engaged/married couple out there… when you calculate net worth (haha, I wouldn’t calculate it if I wasn’t writing a blog, to be entirely honest) do you just add all the assets together?

The dilemma I have now with calculating the net worth for both of us as one is that my goals, in the upper right, were originally set for me, personally and not for me + 1. With me + 1, should I revise my goals? I’m hinting towards yes.

Another issue now is that I don’t really want to be harassing my fiancée every month to see her retirement account statements, though I know she’s happily show me, it’s just a pain in the butt. So, I think I’m going to give Quicken or MS Money or some other software a whirl now where the numbers can be pulled in automagically. I want it as easy to maintain as possible… anyone have any good recommendations?

So, two questions:

  1. Should I begin calculating my net worth as our net worth?
  2. Should I restate my goals?
  3. What personal finance tracking software should I use?

Thanks!


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