NetworthIQ Blog

• @ericabiz Good luck with WealthCamp, keep me in the loop on how things are going, am happy to help spread the word any way I can. #
• @FredericBaud Thanks so much for the kind words on crowdvine and for all your work making BarCampBank happen! Was thrilled to take part. #
• Tracking down all the people I met this weekend on email, twitter and linkedin. #
• Job title seen in LinkedIn suggestion "Problem Management Manager" for real? #
• Tried to spread the word on twitter to the personal finance bloggers who attended our workshop on Friday.. we’ll be seeing more of them here #
• @mbhunter Thanks for following. I drive by a place called "Mighty Bargain Center" on my way to work and it always reminds me of your blog. #
• Upgrading blogs to WP 2.5. So easy with DreamHost one click upgrade. #
• @Scobleizer It’d be less noisy if you didn’t talk about being noisy Just do your thing, people will come and go. #
• Hit an all time hight number of entries this month. w00t! #

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• Long but fun day in Berkeley at BarCampBank. Great discussions around retirement, personal finance management, business models and mobile. #
• along with meeting lots of incredibly bright people that are working on great things in the finance world. #
• Now back to hotel in San Francisco. Where to eat dinner?? Any suggestions for financial district area (and beyond)? #
• @mmpartee Thanks for posting pics and writeups! #
• @JCCapelli Great meeting yesterday at BCBSF. Great pics too http://www.flickr.com/groups/barcampbanksf/pool/ #
• late lunch at the ferry building on waterfront, then shopping for gifts for the family, then back to work contemplating workshop and bcbsf #

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• In San Franciso for a few days. We’ve got a cool pf blogger workshop lined up tomorrow, and BarCampBank on Saturday. #
• I kinda deleted my personal twitter account yesterday. Having trouble getting it back, looks like I’ll be tweeting here for now. #
• Is it just me, or do Y! Pipes RSS feeds and Google Reader not play well together. So many duplicates to wade through in reader. #

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• The Hungry Dollar, a great new pf blog, posted an interview with me about NetworthIQ - http://tinyurl.com/239xmr #

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• Bounce rate is down 10% over last two days. Amazing how much more people stick around when they have a hint of the site already. #
• @jted I second the hope that your assets are not distributed across the universe. Would be interested to see a summary of your comparison. #

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• NetworthIQ, along with @geezeo and @wesabe are highlighted in Washington Post article on the social money sites. http://tinyurl.com/2g7bkf #
• Quote from a member of NetworthIQ: "the site has made him less of a spender and more of a saver." Awesome. #

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The Washington Post has an article this morning, Wanna Talk Money (By Nancy Trejos), which examines how people are taking their money thoughts and discussions online at various social personal finance sites, including NetworthIQ. It’s always exciting to be included in a major media publication.

First, just to clear up one thing from the article. It mentions the public aspect of net worth tracking a couple times, but doing anything publicly is strictly optional, and about 1/3 of members choose this approach. The article’s comments have a lot of negativity about “bragging” and such, and NetworthIQ is not about bragging in any way. In my quote I mention:

“It comes from the whole MySpace generation. Once people become comfortable being social online, it extends into other areas, such as personal finance,”

Which is true, but I still think we can look to all of the great personal finance blogs for more understanding of why people get social about money. In short, because its a way to keep people accountable to themselves and to find help from people that have been or in a similar situation.

But, not to leave without mentioning my favorite part of the article. Owen Graham, a NetworthIQ member, had this great quote about why he uses it:

Each month, he updates his profile with information about how much he spent and saved. He said the site has made him less of a spender and more of a saver. “Now I’m really paying attention,” he said. “It’s one of those things that keeps me motivated in trying to head in the right direction. I would have no idea how much I had in retirement at any given time, and now I’m pretty cognizant of what’s in there and how the markets are doing.”

If we can help people be more saver and less spender than we’re doing the job we set out to do.

• 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.