For those of you not familiar with NetWorthIQ, it’s some what of a cross between net worth tracking software and a blog site. It allows you to track your net worth, and should you feel so inclined, make your profile public for all to see! So whether you want to share with the world what you’re worth or privately track your finances to keep yourself motivated, I strongly recommend checking out what NetworthIQ has to offer. Best of all, it’s free!

I recently had the opportunity to interview Ryan Williams, one of the creators of NetworthIQ, and thought you might be interested to hear that he credits the personal finance blogging community with his inspiration for starting the social sharing site. Read the full interview below…

Cody: What was your inspiration for creating NetworthIQ?

Ryan: Our inspiration for NetworthIQ was really a direct result of reading personal finance blogs and our desire to build a web business. Back in ‘05, our team had been wanting to build something, feeling entrepreneurial and all as the Web 2.0 movement was ramping up, but were having trouble getting started. I was getting into blogs at the time and as a personal finance enthusiast, I enjoyed reading pf blogs more and more. First was PF Blog, and I was pretty struck by how he was tracking his finances publicly. Soon I found more and more bloggers doing this and after reading another blogger comment on My Money Blog, it hit me (one of those ideas while in the shower), “We should create a site where anyone can track their net worth as an alternative too (or complement of) traditional personal finance software, and then let them share it with the world and talk about it, sort of like how you can share pictures on Flickr.” And that was how it came to be.

Cody: How long has NetworthIQ been running?

Ryan: NetworthIQ launched in July of 2005. We reached out to the pf blog community immediately for feedback and discussion and were fortunate to get a good response early on.

Cody: How many users does NetworthIQ currently have?

Ryan: We have over 14,000 registered users at the moment.

Cody: Do you have your own profile?

Ryan: Yes, I do, and it’s even public. However, as to remain anonymous on the site, I don’t disclose which user I am. For me personally, I’ve found it extremely helpful to keep an eye on the bottom line. Even as progress through my career and income rises, not seeing significant gains in net worth helps me realize there is much work to be done to meet my financial goals. It serves as a reminder, that it’s not what you make, it’s what you keep that counts.

Cody: Are all profiles public, or can they be made private?

Ryan: Making a profile public is optional and the default is set to private. About 1/3 of users make their profiles public.

Cody: Is tracking net worth only for the wealthy, or can someone in debt benefit from your product?

Ryan: It’s absolutely for everybody. The NetworthIQ community includes people from all phases of financial life, from those entering the workforce and just getting started, to seasoned investors already retired. I’ve found that the “debt bloggers” are some of the most dedicated members. As Tricia at Blogging Away Debt has shown with her blog, figuring out exactly where you are financially and then starting to track and document your journey can be an excellent tool in the debt payoff battle.

Cody: What does the future hold for NetworthIQ?

Ryan: I’m excited about the future. While there’s power in simplicity, we definitely want to continue to build features that will make it even easier to keep track of you money and utilize the community better to find the best ways to save, spend, and invest. If anyone should have any questions, feel free to connect on Twitter or email me at ryan@networthiq.com.

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With the Tax Rebate checks just around the corner, I found myself wondering what people are planning to do with this unexpected income. Will you send it to credit card debt? Put it in savings? Spoil yourself with a well deserved weekend get-a-way? Some are finding this to be a very hard decision!

If you have credit card debt, paying this off should be your number one priority! The extremely low interest rates and 0% balance transfers we have been enjoying for the past few years are soon to be a thing of the past! Interest rates are on the rise and don’t appear to be going down anytime soon. What’s even worse is that this is even affecting people with good credit scores!

If you don’t have any credit card debt, your best option may be to put it in savings or invest it. The following is an example of how much a married couple can make by putting their $1,200 check into an ING DIRECT Orange Savings Account and making a small monthly deposit…

• Starting with $1,200 and depositing $40 monthly over 10 years at a rate of 3% compounded monthly, you will save $7,191 (to change the interest rate or amount saved monthly, use this savings calculator at MSN Money).

So back to my original purpose for writing this article… what do you plan to do with your tax rebate check?

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The IRS will send out the first 130 million tax rebate checks on May 2nd! When will you get your check? Well, that will depend on the last two digits of your social security number. Here is how the IRS broke it down.

If you chose to receive your refund by direct deposit, the date you see is the date your refund will be deposited into your account…

• 00 – 20: May 2nd

• 21 – 75: May 9th

• 76 – 99: May 16th

If you chose to receive your refund in the mail, the date you see is the date your refund will be mailed out…

• 00 – 09: May 16th

• 10 – 18: May 23rd

• 19 - 25: May 30th

• 26 – 38: June 6th

• 39 - 51: June 13th

• 52 – 63: June 20th

• 64 - 75: June 27th

• 76 – 87: July 4th

• 88 - 99: July 11th

* If jointly filing, this schedule will be based off the first social security number listed on your taxes.

If you owe the IRS, you can still receive your tax rebate by direct deposit. You just need to fill out the appropriate section of your return form (get more information on this here).

If you’re wondering how much you’ll get, the IRS has an online calculator you can use here. Have your 2007 Form 1040, Form 1040EZ, or Form 1040A available as you’ll need it to answer some of the questions. Remember, the resulting number is just an estimate.

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A recent study by the Federal Reserve showed that about 43% of U.S. families spend more than they earn, and these statistics are increasing at an alarming rate! With technology today, it’s becoming easier to buy what you want, when you want it! Take the New York based company ShopText for example. Their mobile shopping (or m-commerce) technology allows customers to purchase products from advertisements nationwide by simply sending a text code.

With purchasing power now literally at your fingertips, it’s easier to fall victim to impulse shopping. Before I saw the errors in my financial ways, this was one of my biggest flaws. I would see something I just had to have, convince myself I needed it, and next thing you know I was standing in line. It felt great at first, but the newness eventually wears off and reality sets in. Here are some techniques I used that helped me shake my impulse shopping addiction…

• Lose the Credit Card: Take your credit card out of your wallet or purse if you’re constantly giving in to impulse purchases.

• Wait a Week: If you think you need something, wait a week before buying it. If after a week you still feel you need it, you might consider adjusting your spending plan to make room.

• Find a Replacement: Instead of keeping up with the Joneses, try finding a more productive addiction. I replaced mine with watching my ING DIRECT Orange Savings Account grow (I really am addicted; you can actually check your interest earned daily)!

If you want to see any results you’re going to have to make some lifestyle changes. For a great compliment to this article read How Shopping Momentum Leads to More Shopping on Get Rich Slowly.

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I created The Hungry Dollar to share with my readers everything I’ve learned on the road to financial freedom. Tips on managing your finances, paying off debt, investing… it’s all here! I also share articles and links to sites that you might find useful. But none of this means anything without you! Often times my readers provide better information in the comments they leave than I ever could. I’m just here to break the ice! If this sounds interesting to you, please subscribe to my RSS feed or email subscription!

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Cody