Q2 2014 Net Worth Update

Net-Worth-Updates

 

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. 

 

Screen Shot 2014-07-03 at 10.10.20 AM

 

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?


13 Comments on Q2 2014 Net Worth Update

  1. moneystepper
    July 7, 2014 at 8:43 am (5 months ago)

    If it makes you feel better… if you can keep increasing your net worth by 21.7% per quarter, you will be a millionaire by July 2019!! :)

    • Lauren Bowling
      July 7, 2014 at 10:04 am (5 months ago)

      Actually, that did make me smile, and I needed that today. Thank you!

  2. Retired by 40
    July 7, 2014 at 8:48 am (5 months ago)

    Nice Increase over 1 quarter! That is super impressive! My debt has gone up too, out of necessity – and a math error – but it ok! You’re on the right track!

    • Lauren Bowling
      July 7, 2014 at 10:04 am (5 months ago)

      It happens. Don’t beat yourself up either!

  3. Tre
    July 7, 2014 at 1:50 pm (5 months ago)

    That’s an impressive increase for 2nd quarter. Don’t get discouraged, you are so close to your goal of $20k for June!

    • Lauren Bowling
      July 8, 2014 at 9:29 am (5 months ago)

      It seems close. But coming up with an additional $1500+ the extra $850 for July’s goal seems so daunting. Thanks for cheering me on!

  4. Janine
    July 7, 2014 at 8:33 pm (5 months ago)

    It went up! That’s something to celebrate =)

    • Lauren Bowling
      July 8, 2014 at 9:42 am (5 months ago)

      You’re the sunshine of my little blog life.

    • Lauren Bowling
      July 8, 2014 at 9:39 am (5 months ago)

      Every time you comment on my site I feel like I’ve “made it” in our section of the internet world. And yes- it’s nice to know that I am moving on up.

  5. Buttercup
    July 7, 2014 at 10:33 pm (5 months ago)

    Congrats on increasing your net worth so much! Even though you didn’t meet the half way mark for your goal you still have another 6 months to go.

    I am just getting to the point of actually having positive net worth, so you are really inspiring me to work harder. :-)

    • Lauren Bowling
      July 8, 2014 at 9:27 am (5 months ago)

      Don’t give me too many props. I’m still in debt, and the lion’s share of my net worth is the equity I have in my home. If I did a “liquid” net worth, it would be much different.

  6. Lisa E. @ Lisa vs. the Loans
    July 8, 2014 at 8:43 pm (5 months ago)

    No need to beat yourself up this quarter – 21% increase in net worth is awesome! My debt has a way of growing when I don’t want it to, either, but at least your savings is up!