a) I use this to track networth with the intention of growing wealth, so the corrolary is I track what has value or gains value over time. With Car being the unique large dollar item which depreciates, it’s the only one which I include.

b) generally I don’t include other personal items because I have no intention of selling any of it. Most of the stuff I only donate or throw away over time when it’s worn out or out of style. (take a tax deduction, or as others have done, “ebay” it.)

c) If you’re really intent on determining the value of personal posessions, I’ve found out by accident there’s a good program which comes with turbo tax called “It’s Deductable” Like the name implies, the software determines realistic values based upon average values of similar items sold on ebay. (categorized in 3 or 4 buckets: new, used, old..something like that) It might take several hours or days depending on how much “stuff” you’ve got, but it’ll have values for just about everything you can imagine.

MrSmith

I think a poll/survey is a good idea, it’d be great to get the categories nailed down sooner rather than later. I’d like to keep them, like you mention, simple at the high level with the future ability to create custom categories. But, by keeping consistent top-level categories, the comparisons can be more valid. With so many current entries, I’m hesitant to change to too much, but I’d like to have them correct.

Good question. I know there are many opinions on the topic. If you choose to include them, try to figure out the market value of them, perhaps using something like eBay.

Cash & equivlalents can also be further divided into checking, savings, money market, short term CD’s and cash value of life insurance

Invested Assets can be subdivided into stocks, bonds, annuities, precious metals, long-term CDs, retirement assets, stock options, investment real estate, ownership interest in closely held businesses, and fine art. It might also be nice to have a category for college savings.

Collectibles does not have to be subdivided

Use Assets can be subdivided into residence, automobiles, boats, recreational real state, and personal effects

Please think about perhaps adding some of these additional categories. Perhaps a survey of members is in order?

Thanks,
FinanceMom

i have a houseful of stuff but no idea how to go about making an educated guess.