Wednesday, November 5, 2014

My short lived positive net worth

I just got excited you guys! After doing the month end tally - I am actually showing a positive net worth for dun! dun! dun!
$619

http://www.peanuts.com/
*snoopy dance*


Here's how its broken down to...

Current Debt
Name
 Amount
Personal Loan
   5,788.00
Student Loan
   6,230.00
Credit Cards
   6,130.00
Car Insurance
      298.00
TOTAL
 18,446.00


Current Assets
Name
Amount
 401K
 18,230.00
 Roth IRA
      597.00
 E.Fund
      169.00
 Misc
        69.00
 TOTAL
 19,065.00

I am hoping to pay off the Car Insurance by the end of this month, but an approx. $3000 +/- will be added into the credit card category since I have a pending expense coming out this month.... woomp womp!

It's short lived - but now I know at least that this whole debt repayment is actually making a dent

...... and that I have to start an emergency fund soon!!!!!


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4 comments:

  1. MorgaineNovember 5, 2014 at 10:40 AM

    I remember that first time I got into positive net worth territory, it was also short-lived :( Between my RSP value going down (and then wiped out to buy a house) and some "unexpected" expenses while I was still building up my savings, it took a while before I had a steady NW. But, it definitely shows progress, and in the right direction :)

    ReplyDelete
    Replies
    1. UnknownNovember 5, 2014 at 1:51 PM

      I cant wait until this has more of a constant positive flow. A house would be a great addition though =)

      Delete
  2. JessicaNovember 6, 2014 at 7:17 AM

    Congrats on getting a positive net worth! The small steps will render a big payout down the line. Just keep doing what you're doing. Definitely start an emergency fund even if you can only contribute 20.00 a month to it in the beginning.

    ReplyDelete
    Replies
    1. UnknownNovember 6, 2014 at 3:48 PM

      Thanks Jessica! I think I will start contributing to an emergency fund soon =)

      Delete

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