January 2021 - Net Worth Calculation ($25,730.24) => +44.65% from December 2020

Assets:

The assets I have included include the following categories: Savings/Checking Accounts, Cash, Venmo Account, & Retirement Accounts.

Net Worth Increase: +7,942.78

401K increase: +10.19%

Total Assets: $34,349.48

Liabilities:

Student Loans: $5,684.61

Credit Card: $0

**Negative Car Equity: $2,934.63

Total Liabilities: $8,619.24

TOTAL NET WORTH: $25,730.24

December was good financially as I could have hoped. As anticipated, I got 3 paychecks and my end-of-year bonus which helped to skyrocket my net worth. I also stayed around my budget which is a nice change of pace from my normal spending habits haha.

Looking forward to January, it seems like a pretty vanilla month. I revamped my budget for the upcoming year. This year I took all my projected yearly expenses and divided them out for each month whereas last year I tried to budget my expenses per month. I think this will be a much better way to help me account for miscellaneous expenses that pop up throughout the year.

It is interesting to look back at this time a year ago and see how my net worth has changed. My beginning net worth of 2020 was around -$10K and now it is almost $26K!! Currently, I have one less loan than I did at the start of the year. I really felt like I did everything I wanted to this year. I went on two solo vacations: one to CO and another to MS. I cooked a lot of meals, but I never said no to eating out with friends. I will be excited to see how my expenses turn out this year without any large loan payments being made. I would be blown away if I was able to increase my net worth by the same amount this upcoming year. It is certainly possible, but I am going to have to work hard and spend my money on investments.

*Note: I did not include equity in my primary mortgage in either my assets or liabilities.

**My current car loan is this amount more than my car is currently worth.