In order to keep track of my financial progress or lack of progress I have decided to calculate my net worth each month.
My net worth as of today (8/2/2016) is as follows.
Assets
Cash – $4393.42 (-$415.14)
IRA – $23,839.74 (+$373.76)
Roth IRA – $10,320.25 (+$324.94)
Car/Stuff – $4700 (-$100)
Liabilities
Student Loan – $129,775.17 ($642.75)
Net Worth = $-86,521.76
My net worth decreased by $459.19 since the last update. Although I had a nice increase in my investments they were not enough to overcome the decrease in cash and the over $600 in student loan interest. Some of the decrease in cash is due to an increase in Amazon FBA inventory. I hope to be able to turn most of that inventory back into cash this month.
As I’ve stated before this massive student loan makes it difficult for me to get ahead financially. Since it charges over $600 a month interest I start in a pretty big hole each month. I need to increase my income dramatically to be able to get ahead on this loan.
I’ve been using Personal Capital
Hi,
I have been following net worth blogs for years, I finally started one of my own;
https://othalafehu.wordpress.com/
Please check it out, any advice/tips is appreciated