Changing the way that I calculate my Net Worth

Until now, I have been reporting my Net Worth by taking the sum of the checking and savings account balances and subtracting all of the debt:

My Checking
Her Checking
Billpay Checking
ING Savings
Investments
Credit Cards
Medical Debt

I was not including the auto loan, since the value of the car more or less negates it. However, in looking at the auto loan this way, I realize that I've been tricking myself into thinking I have less debt than I do.

In addition, I have been including the Checking balances, and usually recalculating Net Worth early in the pay cycle when our checking balances are up, further inflating the Net Worth calculation.

To provide a figure that is more valuable to me as a reflection of our current financial situation, I will be using the following values to calculate Net Worth:

Savings - $670.94:
Short-Term Savings (USAA) - $400.41
Short-Term Savings (Key) - $100.00
Goal Savings (ING) - $170.53
Emergency Fund (ING) - $0.00

Investments - $1804.34:
Edward Jones - $1654.34
Prosper - $150.00

Debt - $47,092.32:
Universal - $8,250.00 (1.99%)
Capital One - $0.00 (15.4%)
Citi - $2970.00 (10.24%)
USAA - $10,300.00 (11.65%)
Student Loan - $4,462.21 (6.97%)
Toyota Loan - $15,622.64 (7.4%)
Medical Loan - $3,361.34 (0%)
Medical Debt - $1,855.13 (0%)

Total Net Worth - $44,616.04 (-)

This is the calculation for Net Worth that I will report in my Debt and Savings Updates. The NetWorthIQ value will still include all assetts, i.e. checking and auto value. However, I think by excluding those when I look at the numbers, it will give me a far more accurate idea of our progress.

Using these new values, here are the Net Worth recalculations for the previous Debt and Savings Updates:

Debt and Savings Update #2 - 12/14/2007 - $44,616.04 (-)
Debt and Savings Update #1 - 12/3/2007 - $46,230.24 (-)