Alright you crazy little pirate hookers, a new month means a new net worth update. I’m glad to see things are still moving in the positive direction, and am keeping my fingers crossed that I can keep the upward trend continuing. It wasn’t the highest increase I’ve had, but I’ll take any positive growth I can get.
Note: My NW is pretty easy to calculate because I don’t own very many things. I have a savings/checking account and a couple retirement accounts . I chose not to include things like personal belongings (laptop, camera, etc) or my car (which would add probably $5K to my worth) because I figure those are things I will always need and wouldn’t really want to go with out.
Checking Account: $1,418. I try and keep around $1,000 in my checking account at all times. I’ll be getting paid this Friday, and will use that paycheck to pay down the student loan.
Savings Account: $14,695, +$2,018. Although my savings went up $2K over the last month, I don’t plan to keep all of it. I will probably use another $1K against Sallie Mae and still have $1,500 left to contribute to my Roth IRA.
Roth IRA: $10,871, +$1,288. Have you been riding the recent upswing of the market? The down parts suck, but the upswings make it all worth it!
401K: $7,836, +$1,388. Pretty standard investing going on here, 8% of each paycheck. I invest in very similar funds in both my Roth IRA and 401K.
Student Loan: -$21,152, +$1,000. It started at 28K on 02/08. I have been making at least $1,000 monthly payments on this bizznatch after some words of wisdom from my wonderful readers. My minimum obligation is $178, so throwing another $800 on top of that goes a long way 🙂 It’s one of the hardest things I have had to do (I would prefer to see my savings account grow), but I know in the end it’s a smart financial decision.
So what does this bring my total net worth too??? $13,669. I’m up $2,941 from last month. Even cooler is that every category of my net worth was in the green. I still can’t believe I was worth negative $2K less than six months ago. Who else wants to join me on my path to becoming a bagillionaire!?