July 2020 - Net Worth Calculation ($6,309.11.81) => +$6,363.92 from June

Assets:

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

Net Worth Increase: +6,363.92

401K increase: +16.64%

Total Assets: $16,722.86

Liabilities:

Student Loans: $6,080.61

**Negative Car Equity: $4,333.14

Total Liabilities: $10,413.75

TOTAL NET WORTH: $6,309.11

TOTAL NET WORTH W/O NEG. CAR EQUITY: $10,642.25

WE MADE IT!!! WE MADE IT TO POSITIVE NET WORTH!!! This is the first time since high school that I've been in positive net worth. Even in high school it was only positive by a couple hundred dollars. June marked the end of my high interest student loan. My goal for 2020 was to have it paid off by the end of the year and it was able to happen by halfway through! The large jump in net worth and ability to pay off a large chunk of the high interest loan comes from how my paychecks fell and a small bonus from passing an actuary exam.

I'm so relieved to be in the positive. July is looking to be a promising month as well, so I am anxious to see how my net worth is in August. July is an exceptional month in finances for several reasons:

• I received a promotion at work increasing my salary by $5000 and my end of year bonus by 4%.

• I refinanced my house, but the payments on my next loan don't start until August, so I saved over $500 from my mortgage payment.

• July has 3 paychecks in it (one will include my new salary).

• My work gave out an early bonus to help those still affected by the COVID pandemic.

From a budgeting perspective, I actually spent slightly more this past month than in May. But not a significant amount, so I'm not worried about it.

My new finance goal for the end of 2020 is to have a $6,000 emergency fund saved up and at least $10,000 in my checking. This way I will have a solid foundation to purchase an investment property by the end of 2021.

*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.