Net Worth for March (+5608.54)
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What a great month! I didn’t realize that my net worth gained quite a bit until I did the calculation and this is hopefully one of the first of many that I will share with you guys!
Assets
For some highlights, the biggest contribution to my net worth had been the fact that I managed to save $2752.45 and the fact that my investments did quite well (. I also added $500 dollars into my Roth IRA (which I started earlier this year for year 2006).
Debt
As you can see, my debt is minimal since I paid cash for my car and only rent for now (ready to look for a house though but just worried that the correction is going to be another 10-20% in the coming year).
Main Account Changes
I added an account called “Expenses from Employee Not Credited” since I pay some of my travel expenses with my credit card and I get reimbursed from my employer which skews the results a bit unless I add this account.
I also applied for another credit card which I will write in another article so remember to stay tuned.
Debt should be avoided at all costs. Debt Free Direct are a company who are leading IVA providers. Other debt solutions like debt management are also available.
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It shows that you saved $2752.45, but your brokerage acct & Savings increased by $2882 and Checking account even lost $341.74. How does that make your investments do any good?
Let me explain -
You noticed that my net worth actually gained $5608.54, so that should be the number to do my comparasion against. My savings have gone into paying off my credit cards, adding to my savings and brokerage account, adding the $500 for my Roth IRA and also part of the 401k ($1849.78) you see there. So in short, my investments actually gained around $2800 or so which is a pretty big percentage when you think of how the market acted this month.
Congratulations on your gains even though the market have not treated most of us well the past month.
Why do people like you always have so much money while I can’t seem to find a way to save?
Good to hear that you’re doing well. I look forward to reading more.
Also, anyone can save something. Start small and gradually increase.
-limeade
http://fiscalmusings.blogspot.com
Thanks for the encouragement and great advice. I think most people don’t realize that a few dollars here and there will end up having such a big effect down the road because of compounding.