In order to keep track of my financial progress or lack of progress I have decided to calculate my net worth a few times a year.
My net worth as of 06/5/2017 is as follows.
Cash – $9363
IRA – $26,543
Roth IRA – $1632
Solo 401k – $1101
Car/Stuff – $3600
Student Loan – $114,362
Credit Card – $7775
Net Worth = $-79,898
My net worth declined a little over $800 last month. This wasn’t unexpected since I had very little income in May. Most of the month’s decline was from depleting my cash balance to pay bills. Considering I had a three-week European vacation and almost no income in May, my net worth decreasing by only $800 is pretty good. I’ll be returning to work this month. I’m not sure when my payday will be. If I get a paycheck before the end of the month I should increase my net worth this month. If not I will have another decrease in my net worth.
I’ve been using Personal Capital (affiliate link) to help track my net worth. It keeps track of all of my financial accounts and my student loan making it pretty easy to calculate my net worth each month. It is free to sign up. If you would like to sign up I’d appreciate you using my link. All blog income, including affiliate income, goes to paying down my student loan.
2 thoughts on “June 2017 Net Worth Update”
I think people that run up huge student loan debt and then REFUSE to work and pay it off should go to jail. You should be ashamed of yourself instead of bragging about it month after month.
Sam – I’m not sure what you are talking about. I’ve paid over $15,000 towards my student loan this year and I am working a full-time job. I’ve never bragged about not paying my student loan.