Not a bad couple of months overall as was indicated in my Income and Expenses, overall a couple of good months for my net worth overall. Now, it is a bit of a pain to do this monthly as some companies only offer quarterly statements and if I don’t look at some of the balances right at the end of the month, it is a bit of a pain. So from here forward, I plan on only doing quarterly updates – so December’s update will be available in January. Continue reading
Net Worth
Net Worth Update – August
Here we are again, another month, another update! So you may wonder, why do I track my Net Worth? For me it is the best method to see if I am on track for reaching financial independence. I am not too worried about market fluctuation, but I am concerned with the long term trend. I like to see how my efforts are compounding over time, but it is good to keep everything in perspective as this is figure is subject to the whims of the stock market. Being the majority of my net worth is going towards reducing debt currently, it is fairly easy to experience growth in my Net Worth as the majority of my free cash every month will be going towards the guaranteed returns of debt reduction. Continue reading
Net Worth Update – July
Well it is about time I updated this for all those people coming from Rockstar finance, huh? Well, to be honest I didn’t want to just squeak by last week doing an article on my Income and Expense as well as my net worth update. I would rather get out an article with some of my personal finance philosophy out as well. It makes me a bit less dry in my opinion. So you may wonder, why do I track Net Worth? For me it is the best method to see if I am on track for reaching financial independence. I am not too worried about market fluctuation such as we experience at the end of last month, but I do like to see that my efforts are moving in the right direction long term. Being the majority of my net worth is going towards reducing debt currently, it is a bit difficult not to experience growth even with the recent pull back in the stock market. Continue reading
Beginning Net Worth
Back at the beginning of 2013 I had a negative net worth. Basically our car loan and students loans outweighed our meager assets held in checking and retirement accounts. Although I did not keep track of these records until the beginning of 2014, just based on how little cash we had, where our retirement accounts were, and where student loans were at, I would say to start that year we were probably around negative $15,000.
Today, things are much better here at the Frankly Frugals. My wife and I are both working full time and we are growing our net worth in various ways. With that
said, here are the numbers as of the end of June:
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