Here is my first monthly net worth update for this blog. For a bit of background, I am 18 years old and starting university next month. I work a part time job along with a number of side hustles.
I have privately recorded my net worth on a daily basis through a spreadsheet for around nine months. I have found this helpful in building wealth as it has helped me see progress and record spending in a way that has led to a reduction in random purchases.
My goal for the year is to reach a net worth of around $10,000 which is part of my long term goal of $1,000,000 by the time I am 30.
ASSETS
Cash - 102.50
Emergency Fund - 1000.00
Sav/Inv accounts - 745.56
Superannuation - 247.14
Share Portfolio - 1496.88
Debtors - 525.23 (monies borrowed by various people for a fixed interest or 0%)
Car - 1200.00
TOTAL - $5317.31
LIABILITIES
IOU'S - 40.00
TOTAL NET WORTH
$5,277.31 (+15.1%)
I have privately recorded my net worth on a daily basis through a spreadsheet for around nine months. I have found this helpful in building wealth as it has helped me see progress and record spending in a way that has led to a reduction in random purchases.
My goal for the year is to reach a net worth of around $10,000 which is part of my long term goal of $1,000,000 by the time I am 30.
ASSETS
Cash - 102.50
Emergency Fund - 1000.00
Sav/Inv accounts - 745.56
Superannuation - 247.14
Share Portfolio - 1496.88
Debtors - 525.23 (monies borrowed by various people for a fixed interest or 0%)
Car - 1200.00
TOTAL - $5317.31
LIABILITIES
IOU'S - 40.00
TOTAL NET WORTH
$5,277.31 (+15.1%)