Welcome to my monthly net worth post for April, 2016. Each month, I post a complete breakdown of my net worth, along with a chart showing the progression of my net worth since the start of this blog. Posting my net worth helps keep me accountable for what I do with my money, and motivates me to make better choices and push to reach new goals. You can see previous net worth updates here.
April was a huge month for me financially: It was the month that I officially became debt free! I had to pull some cash out of savings in order to make that happen, but I decided getting rid of my car loan was more important than having a larger emergency fund. Not to worry, I’ve already started building the fund back up!
April 2016 Net Worth:
As far as April goes, paying off the car loan was more of a “shell game”: It didn’t affect my net worth overall, it just moved the things from one row to another (less cash, less liability). From here on out thought, it should have a positive effect, as I won’t be paying anymore interest. It isn’t a huge amount, but $30-40 each month still makes a difference! And I’d rather have that money in my own pocket than in the bank’s.
I saw a net worth increase of $1,799 in April. It’s weird having so few categories that make up my net worth, now that I’m debt free. In the short-term, most of my growth should be in my “liquid assets”, as I’m growing my emergency fund back up. From there? I definitely need to concentrate more on my retirement accounts.
Net Worth Progress Chart:
I’m excited to see how the rest of this year plays out. Aside from a few vacations, I don’t expect any large expenses, so those monthly numbers should continue going up. Just the way I like it!
- Cindy W.