If you had been following my net-worth progress thus far, you may have realized that my digits always seems to be a flat out whole number. The reason for this was because I had decided to round them down in attempt to keep my anonymity on the web.
However, now that I have decided to post monthly net-worth updates, it is time to be more precise in my calculations. Here’s why:
3 Reasons to Use Exact Numbers
1. More Accountability and Transparency
The first and foremost reason why I am going to start posting exact numbers is to become more accountable both to myself and those interested in my progress. Without exact numbers, I am just going to be another random guy posting random numbers.
2. Establishes Credibility
Although I am still pretty new to personal finance, it is my hope that one day I can get to a point where people can gain value from what I have experienced. If there is anything I have learned through my journey so far is that there is always something new to learn from others. 😉
3. Better Documentation of my Financial Journey
Total transparency of my entire financial situation will also keep things realistic for me. It will help me document my journey in a much more efficient manner. The more precise calculations will help me set better goals and determine an appropriate deadline to reach them by.
Alternative to Posting Exact Numbers
For bloggers who wish to remain anonymous, there is always the option to not post any net-worth updates. I have seen many successful personal finance blogs that don’t publish their own financial situation.
At the same time, there are also a few bloggers out there who round their numbers up or down. Personally, I don’t see this to be as effective as posting the exact numbers but that is simply my opinion.
Monthly Net-Worth Update
Having a monthly net-worth update is no doubt a popular trend amongst many personal finance bloggers out there. This is why the biggest change coming to Million Endeavour for the year 2015 is the transition from a quarterly update to a monthly update.
The main reason why I had implemented a quarterly net-worth update in the first place was because I didn’t know if I would had enough new material to make it post-worthy. Unfortunately, I have found that not only was a quarterly update very inconsistent, it was also a self-fulfilling prophecy weighing down on my progress.
Hopefully both the monthly net-worth update and use of exact numbers on ME (Million Endeavour) will align me better to reach financial freedom by the year 2020!
What about yourself? Do you have any reservations sharing your entire financial situation to the world?
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