First off, 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.
My debt comes from my nasty student loan currently at $23,000 (It used to be 28K). 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 $900 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.
Checking Account: $3,172, +$740. This just depends on the time of the month. It’s pretty stacked right now because my credit card payment hasn’t gone through yet. I use my CC for all my purchases and pay off one big sum when the bill comes due. $1,400 will be departing my checking account in the next couple days.
Savings Account: $12,162, +$12.72. Heck yea…haha. I didn’t have an opportunity to contribute to my savings account in May because I focused all my cash on paying down debt ($1000), donating to charity ($1000) and contributing to my Roth IRA ($1500). I’m hoping this month I can scrounge enough together to throw in another G by months end.
Roth IRA: $10,075, +$2,368. $1500 of this was a contribution I made about a week ago. And then the remaining $868 was gain from the awesomeness of the stock market lately. I love watching that Dow Jones soar in to positive territory 🙂
401K: $6,281, +$832. Pretty standard investing going on here, 8% of each paycheck. My 401K investments nearly mirror my Roth IRA so they should always gain (or lose) relatively close to the same amount.
So what does this bring my total net worth too??? $7,251. Last time I updated, I was worth $754. Ill take a near $7,000 dollar gain. A large contributing factor was a GREAT tutoring month as well as an extra paycheck. I don’t think it will go up too much between now and next time, but considering my net worth was negative $2K two months ago I am rather excited 🙂
Take care ya’ll.
That is quite an increase in 2 months, congrats!! =D
Thanks Dr. Faith. I anticipate that will be the largest percentage gain for the rest of my life. It's easy when you start at $754 dollars. P.S. How's the tutoring gig?
Since I'm leaving for 3 weeks I am not taking anyone for the summer (maybe the second college session when I get back).
Just riding out Tutor.com for now…
I can't wait till I get in the positive net worth — lol — only around $16,000 to go! 😉