It’s officially the start of a new month! 2013 really does seem to be flying by. Originally, I thought I would be updating my net worth quarterly. I’m not really a high earner, so it doesn’t seem like there would be much change if I did it more often. But recently I started mulling over the idea of putting together the numbers more often. Maybe it will be more motivating if I can see my successes/failures at more frequent intervals? That way I know if I’m still on track, or if I need to make adjustments. Doesn’t hurt to try!
Running the numbers I have to admit to being pleasantly surprised! I spent a nice chunk of change this month paying medical bills for an ankle injury and a few mild illnesses. Even still, I managed to grow my net worth by over a thousand dollars. Nice!
I’m still a long ways off from my overall goal of financial independence. Honestly, I don’t even have an overall number in mind of what I need to make that goal. $400,000? $1,000,000? At this point, I’m not sure that naming a dollar figure is a good idea. I mean, when your net worth is $3,792.25, $100,000 may as well be a million! But the more money I manage to sock away, the easier it will be for that money to start “pulling its own weight” and adding to my efforts through the magic of compounding interest.
As the saying goes: The first $100,000 is the hardest!
– Cindy W.