NetworthIQ Blog

• Fixed bug with new users’ badges not working. Cropped up in the latest updates. #

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• Last week I reported that stats were added for all balance sheet categories (home, credit cards, etc.). The comparison report now has those. #

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What’s that? A new feature? Why yes, yes it is. Well actually, it’s just an update, but it’s a significant update in my view. Last week, I mentioned how statistics were now being calculated for all balance sheet categories, and was working on getting those stats integrated into the site. Up until now, we’ve only offered comparisons for net worth. As of today, that’s changing with the comparison report now featuring the ability to drill down for every category in the balance sheet (cash, stocks, home, mortgage, credit cards, etc.). You can see how you compare across all of the categories for your demographic groups.

Hopefully this is an interesting and helpful feature.

• New net worth stats crunching script running as I type this. Now, how am I going to present this data? I’ll start with a twitter stream. #
• Tthe median home value in the US is $111, 000 and the average is $209,000 (n=5713, using my "current user" algorithm) #
• The median mortgage is $42,238 and the average is $117,119. Man, wouldn’t that be nice? #
• The median credit card debt is $184 (wow, that doesn’t look right) and the average is $5023 #

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I’ve been working through some deeper statistics calculations this week, looking at the individual balance sheet categories. In the current comparison report you just see comparisons of net worth, but now we can start to drill down into each category, which is the whole reason we have these defined categories as many people often wonder. The following is the initial findings of the data for all “current users” in the US.

Nothing too interesting yet, but it’s a start. I have a hunch this is mainly because our user base skews to the under 30 crowd. It will get more interesting as it’s broken out by the demographic categories and presented as part of the comparison report feature.

Stay tuned.

Median balance sheet

• Fixed some email issues, reminders going out today. #
• Need to find/write a script for processing bounced messages so I can stop sending reminders to emails that aren’t active. #

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• Have a beat on some more in-depth net worth statistics. Calculating stats for every month, every category, and every demographic. #
• Hope to publish something this week, after sorting through them. There’s a reason the S&P 500 is a consistent set of companies. #
• BusinessWeek outlines how personal finance sites build trust (NetworthIQ included) http://tinyurl.com/3agkvb #

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• @WayneMulligan Thanks for the Money:Tech updates. TickerHound looks cool, surprised I haven’t heard more about it. #
• TweetScan is ridiculously good (current, fast, etc.) #

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• Barron’s on leading online personal finance managers, including NetworthIQ - http://online.barrons.com/article/SB120191110590136871.html #

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