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My Next Financial Goal is Getting to Zero

By: Steve Johnson

5/2/2008 - 50 Comments

The people that are most likely to have their finances in order are the people that work hard to manage their money.

The leading financial blogs talk and plan how to manage their money all day long and several of them track and publish their net worth.  These blogs have thousands of readers that are trying to get out of debt everyday by finding useful personal assistance online. 

These are the experts.  Here are just a few that have the guts to publish their net worth.   

 Financial Blog Net Worth Age
Finding Financial Peace $381,445 39
Consumerism Commentary $151,079
Single Guy Money $72,953 30
Frog of Finance $63,938 37
Llama Money $32,401 39
Unequivocal Notes $31,096 29
Make Love, Not Money -$32,059
Average  $100,718 35

While looking for financial bloggers net worth’s, I only found about 20 of 100 that listed their net worth – and I only found one with a negative net worth (Make Love, Not Money).  My guess is that there are many others that have a negative net worth, but are unwilling to share their numbers – until they get over zero.  I am also in the negative category and have yet to published my net worth.  If anyone knows of another financial blogger that has published a negative net worth, please let me know.  My guess is that the younger financial bloggers (20 something’s) are still in the negative area.

Average Household Debt is $96,000

According to, the average per household debt in the U.S., not counting mortgage debt, is about $14,500. Nine of 10 Americans claim credit card debt has never been a source of worry, yet 47 percent would refuse to tell a friend how much they owe.

According to this article, American Economy Collapsing , the average American taxpayer has $48,000 in debt due to credit cards, mortgages, university debts, auto, etc.  Based on this number, a household of two adults would have a net debt of $96,000. Therefore, if your household has less then $96,000 in debt, you're above the average.

Approaching Zero

I’m on target to cross the zero net worth line sometime in the fourth quarter of this year. But, it has not been easy.  At 34 years old, it’s hard to admit that I’m still in the negative net worth area.  I've been reaching for this goal for 10 years, ever since graduating from college 10 years ago.  During the last ten years, there have been a lot of expenses, most notably, college loans, houses, cars and kids.  As I approach the zero net worth threshhold, I am very excited – it’s like a dream come true.  Finally, I'm worth zero.

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