The month of January flew by fast! I feel like I was just saying happy new year a few days ago, and planning my 10-day trip to Thailand!
ASSETS: $95,733 (↑)
My assets grew by $1,763 or 1.88%, which is down from last month, but I still ended up on the positive side.
- Cash ($1006) – This is basically my $1000 emergency funds plus any left-over cash from my budget. I am lucky to have a five-month streak without any emergency!
- Car ($14,174) – My car increased slightly in value this month! Don’t ask me how or why, I obtain and report the current value consistently from KBB.com every month. This car note was paid off in March of 2016.
- Investments ($80,546.47) – This was another modest growth month for the stock market. The contribution to my 403B + employer match was the usual, and the rest was stock market growth. My retirement portfolio overall increased by $1,693 or 2.15%
Overall, my assets increased by $1,763 or 1.88%
LIABILITIES: $-13,610 (↓)
- Student Loans ($-13,610) – The best part of my net worth updates is watching my student loan RAPIDLY dissolve! I typically pay on average $4000/month but this month, I ended up paying $3000. Part of the extra cash went towards my vacation to Thailand this month. Even though I would have loved to see my debt at the $12,000 mark, the trip was worth every penny. I am still on track to paying off this loan before May 2017.
This month, my liability decreased by $2,938 or 17.75% Not bad for a month with a vacation.
NET WORTH: $82.123 (↑)
My net worth increased by $4,701 or 6.07%. This is my 5th update and fourth consecutive growth in net worth.
March is around the corner, which means, I am two months away from my next financial goal, which is to achieve a net worth of $100,000 by March 2017. Most of this growth is expected to come from decreasing my liability, which is currently at $95,733.
It has taken me 5 years and 3 months to get to a net worth of $82.123. My next financial goal is to achieve a net worth of $100,000 by my 35th birthday in March 2017. ‘
I have heard the first $100,000 is the hardest and I completely agree. To steal a line from J.Money from budgetsaresexy.com, “You can’t make it to a million or a billion without first hitting $100,000”
I couldn’t agree more, see you next month!