I Love My Net Worth Even Though It's Negative. Here's Why.

By Literally broke

what is net worth

I love my net worth. Yes, it’s negative. No, it’s not even close to being positive. So why do I love it? Because it’s the most holistic metric we have to measure our financial growth. 

I’ve loved the concept of net worth ever since I first read about it last year. For those of you in the dark (like I was) your net worth is your total assets minus your total liabilities

What’s amazing about America is that because so many of us live paycheck-to-paycheck and carry balances on our credit cards or student loans, you can make six figures and still be net worth negative. 

That means that girl next to you with a Goyard bag or that fuck boy who lives in SoHo could actually be kind of broke.

And, obviously, some of us enter adulthood with lower net worths that are a result of privilege.  I, for instance, entered the workforce with 35k in debt, or a negative $35,000 net worth. But even though I felt like I had a huge A on my chest (and often still do) calculating my net worth finally gave me the wake up call I needed. 

On January 11, 2019 my net worth was -$35,283.00. One year later it’s -$18,603. Seeing a negative double digit number still sends chills down my spine, but I’m now able to see how small changes and small payments add up. 

As my net worth has improved, so has my quality of life. I’m no longer filled with dread about how I’m going to pay my electricity bill or catch up with an old friend.

I also now know how to budget for the experiences and financial goals I really want to achieve. In addition to paying off 12k in debt in 2019, I also traveled to Europe with my boyfriend for 10 days, paid for and completed Improv 201 at the Upright Citizens Brigade (yes, I am the future of comedy), and self-produced my first play. These are all things that one year ago seemed impossible. 

So, yes, I love my net worth. It shows me how far I’ve come and how much more I have to work toward. 


Scarlett McCarthy

Scarlett McCarthy is a playwright, screenwriter, and the founding editor of Literally Broke. In 2019 she increased her net worth by 15k while living and making art in NYC on a 35k salary. She is a graduate of NYU, where she amassed a lot of student debt. 

https://www.literallybroke.com
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