Remember when net worth updates used to be fun? Nope, nope. Just kidding. For Q2 (April 1st- June 30th) 2014 I had some good news and bad news on the ol’ net worth front.
You can see my number above.
The Good News: My savings increased 22%, despite several financial setbacks like car and home repair. Still, I was about $1800 short of hitting my 5k target by the end of June, in order to meet my larger goal of 10k in savings by the end of the year. I was optimistic in March that I’d be able to make up and cover ground this quarter, but life happens, and my financial targets have been the least of my troubles.
The Medium News: My net worth increased (21%) this quarter (which is always a win in my book!) Still, I was also shy of the 20k “net worth” target I needed to hit by mid-year in order to make my 40k goal by the end of the year. I hate that I felt so cocky about this in my last net worth update, but here I stand having failed at it.
The Bad News: My debt went up (close to 8%) Frustrating, but it happens. Even if I don’t hit any of my other goals this year, I’d like to be debt free (finally, finally, finally…) but as I’ve covered before…I’ve learned that having a solid emergency fund first is the way to go so that is my focus for now.
I wrote last week that I am going to (attempt to) stop beating myself up so much when I don’t hit the goals I’ve set for myself. They’re lofty (because what would be the point of setting easy goals?) but I see now that they’re not the most important thing. For next quarter I hope to have paid down some debt and gotten back on track with my savings for the year, which will need to be at $7500 by the end of Q3.
Do you track your net worth? How did you do?