Monday, August 5, 2013

Net Worth Update: What a Difference a Year Makes!

In an attempt to get inspiration for today's post, I looked back on some older entries to see what has changed in the last year. I stumbled across this one - the day I hit a positive net worth. This was nearly a year ago. Back then, I still had close to $30,000 in debt. With some retirement accounts and my car as my only assets, my net worth was $259.14.

Today, almost one year later, my debt total is down to $8,300 and my net worth is up to $32,000!

How did this reverse so quickly? Mostly, because I hit my debt payoff really hard. I had already saved some for retirement, so by eliminating my debt I'm boosting my net worth every time I send a payment. I also made some great strides with putting more towards retirement this year.

If you enjoy seeing your wealth grow, I suggest you track your net worth. I explain how I do so here. If you are a nerd like me who loves truth in numbers, you'll really enjoy watching your net worth get bigger and bigger!

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