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  1. Great post. Listing out all of my accounts was the only reason I realized that I had accumulated so much credit card debt. After that, I was able to put myself on a plan. Great tip!
    My recent post Should You Consolidate Credit Card Debt?

    • Thanks for sharing Grayson. As I mentioned above, a lot of people have a hard time “facing” the numbers of their debt levels, and listing things out does a world of good to get on the right track to reducing those balances!
      My recent post You Don't Know What You Don't Know – A First-Hand Account of the State of Personal Finance Education

  2. I normally do this every month, list all my incomings and money which is actually 'mine', e.g. savings, then take away all the debt I owe. The more honest I am, the more it makes me re-think how I manage my finances and improvements I could make. Good luck with the book, let me know if you need any more opinions or anything.
    My recent post How to save money when booking your holiday

  3. Pauline @ Reach Financial Independence says:

    I update an excel spreadsheet once a month. Having a three currency net worth it is a bit complicated to use a software and Mint wouldn't have all of my accounts. I don't track expenses much, unless the net worth figure stagnates.
    My recent post 13 money resolutions for 2013: #6 crush your debt!

    • Thanks for sharing Pauline. I would like to use Mint as well, but like you said, my stuff is too complicated to “fit” in Mint, so the spreadsheet approach works best for me.
      My recent post You Don't Know What You Don't Know – A First-Hand Account of the State of Personal Finance Education

  4. Awesome post! I totally agree with your observation! When people are in a financial constraint they tend to be ashamed or afraid to face the music, and in my opinion something that we need to do in order to work out the problem/s–more than anyone else, we need to be honest to ourselves.
    I make it a point to list all my accounts to better take note of what I need to work on, to maintain, and eliminate from my monthly earning and spending.
    My recent post Student Credit Cards – What to Look for When You Apply

  5. Fred @Money blogger says:

    I used to be always afraid to do this and suffered from like you said, 'too much shame to face the music and gain a concrete vision of their financial position.' I can't recommend doing this as soon as possible because it will give you a far better financial foothold in getting control of your personal finances. The hard part for me is finding the value of my web business as it's quite volatile out there.
    My recent post How Can I Save Money on Bills

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