Another month is in the books, and it’s time to see how my net worth is looking. The last 30 days have been financially uneventful. I guess this is the part where my net worth gains become less exciting and more systematic. I wont be seeing 750%+ increases like I was a couple months ago, but hey at least I’m continuing upwards! Let’s check it out…
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 $8K to my worth) because I figure those are things I will always need and wouldn’t really want to go with out.
Checking Account: $1,243 +$148. I try and keep around $1,000 in my checking account at all times. No point in keeping more than a “G” in my checking at this point in my life.
Savings Account: $14,712, +$17. My savings account currently earns 1.3% interest, so that is the only reason it grew over the last month. I made a decision that I was going to halt contributing to my savings account for the time being (since I have an adequate E-fund) and will focus all my discretionary income to my student loan.
Roth IRA: $11,661, +$447. Keep on keepin’ on stock market. I could still contribute $1,500 to it this year, but will probably hold off as I focus on my debt.
401K: $9,401, +$865. Eight percent of each paycheck makes its way in to this account. I invest in very similar funds in both my Roth IRA and 401K (mutual funds). I get 5% of my paycheck fully matched, so you know I’m not about to pass up free money.
Student Loan: -$17,994, +$1,358. It started at 28K on 02/08. I have been making at least $1,000 monthly payments on this after some words of wisdom from my wonderful readers. Can’t wait to be rid of these biotch in about a year!!!
So what does this bring my total net worth too… $19,173. I’m up $2,985 from last month. I’m really glad that I can grow between $2K to $3K each month. I don’t anticipate decreasing in worth until I experience the joys/pains of home ownership. Hopefully this next month will be a larger net worth increase since I receive three paychecks (instead of two) this month!
If you have wondered why the blue bar (debt) in the graph sometimes increases, it’s because my credit card balance gets taken in to account each month. Even though I pay the balance in full it still appears as a “liability” in Quicken. I just deduct this from my checking account balance to give myself an accurate net worth reading.