Net Worth

The California Poppy is beginning to show itself along the hillsides of Southern California. It makes such a beautiful change from the drab landscape I usually have to look at on my way home.

After a hard day at work, it was inspiring to read an interesting post regarding net worth at getrichslowly.org

When I see the accomplishments that someone else has made over the years by being Smart Money Handlers, it inspires me to stay on the wagon and try it myself.

I may not have been such a SMH but, fortunately, I invested money I earned in real estate here in Los Angeles. That is my only saving grace despite the fact that our local housing market is in the toilet. As with all boom-n-bust cycles, I am banking on the fact that real estate will boom again. That will definitely help me out a lot if the timing is right.

My number one goal is to refinance my mortgages. My credit scores are nicht gut and I have to spend the next 1-2 years digging myself out of the hole I put myself in. Basically, I have to pay my mortgages on time for a change. Once I have done that for a minimum of a year, my credit scores SHOULD allow me to refinance. Who knows though? Some lenders I've talked to have told me that they are looking 2 years down the line (as opposed to just one) regarding payment records. Due to the subprime mess. And the credit crunch.

I have learned a very valuable lesson regarding my finances that won't be forgotten in a hurry:

Money should be treated like food to nourish, like blood to survive and like love to nurture. Money should not be treated like crap to be gotten rid of.

I plan to start posting my own net worth monthly from now on to keep myself on track.