My Wealth - do you know what you're worth?

I'm not a particularly wealthy person, but I thought you might find this post interesting none the same.

I use an online accounting system to manage my accounts called Saasu.com, as opposed to MYOB, which is a software solution. One of the things I can do is see my current wealth based on my balance sheet on the dashboard when I log in. It's a nice way of seeing how I am doing right now (particularly since my accounting automatically enters customer purchases)

A computer can only tell you what you tell it, so providing good information is important.

I've been cleaning up outstanding debts, and writing off people I haven't got a chance in hell of getting any money off. Because of this, my wealth is decreasing, because the invoices I had written were actually making up some of that wealth figure. I could write an invoice to someone for $1 Million, and I'd be worth $1 Million instantly, but unless someone pays that invoice for me, I'm not actually worth $1 Million.

You can only tell what you're actually worth when you've got all the information, and things like outstanding debts can artificially inflate your wealth. But, if you take your wealth, and then subtract the amount people owe you, you can have a pretty good idea of what you are actually worth - provided you've got all your other information up to date.