My Net Worth Story
I started tracking my net worth the month after I graduated from college. I was lucky enough to have in state tuition which was covered by scholarships, so I graduated with a net worth of $3K. Once I started seeing the numbers go up every month, I wanted them to go up even more! I started reading personal finance blogs, early retirement blogs, and investing blogs. As you can see, the numbers did go up.
My progress flattened out some when I switched jobs in June 2015, as I couldn’t contribute to my 401(k) for 6 months. It shot up again in September 2016 when I started saving to get my coaching certification through IPEC. It’s amazing how much more you save when you’re working towards something meaningful!
It’s also true that your first $10K is the hardest. I’ve heard the same about your first $100K and your first $1M- I’ll let you know when I get there 🙂 But it took me almost a year to hit my first $10K- then in two more years, I went from $10K to $50K!
So don’t feel discouraged about starting off small. It’s easy to look at big names like Dave Ramsey or Mr. Money Mustache and only see where they are today. But remember they were once right where you are!
July 2017 Net Worth
|Asset||Total||Monthly Change||Percent Change|
|Wells Fargo (401)k||$23,662.37||+$1,076.22||+4.76%|
|Synchrony- High Yield Savings||$10,044.48||+$867.87||+9.46%|
Income and Expenses
Below is my updated Wall Chart for the month… you can see my income and expenses. The bottom line is income from my investment accounts- once this line crosses my expenses, I will have reached Financial Freedom! For more on Wall Charts, see my recommendations on building a better budget.
How does tracking net worth reflect events in your life? Let me know in the comments!
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