Net Worth Update: April 2016 (-$27,807.66)

I’ll be honest with you all. I’ve been putting off my April net worth update because I’ve spent a lot of money since my last post. I purchased a new phone (around $220) to replace an older phone I dropped, and spent almost $600 worth of recording equipment for a new project (more on this later). I’ve even been so shameful that I’ve stopped tracking my daily expenses and have yet to do my first #MoneyMonday!

But, alas – I’m finally getting over it and recognize that this is part of an overall long and arduous journey toward financial stability and freedom. So, thank you all for helping me stay accountable, and try not to judge too hard. 🙂

[*UPDATE: Okay, now that I’ve ran the numbers, I realize I’ve done far better than I give myself credit for. Yes, I would have actually liked to have saved money, but the important thing is that I’m still progressing.]

Here’s the debt:

Debt Last Month This Month Change
Student Loan A $6,897.09 $6,839.79 -$57.30
Student Loan B $3,940.65 $3,865.00 -$75.65
Student Loan C $11,723.96 $11,626.95 -$97.01
Student Loan D $5,029.51 $4,607.25 -$422.26
Student Loan E $3,323.50 $3,093.20 -$230.3
Credit Card $0.00 $238.59 +$238.59
Total $30,814.71 $30,270.78 ↓ $643.93

Obviously, this number could have been a little more impressive but, as you can see, I’ve added on about $240 worth of credit card debt. After 2.5 years of being on a debt management plan, I have a new credit card, and – although it’s been handy – I now understand what the podcaster Jack Spirko means when he says being in debt is like being an alcoholic: you’ll never stop being an alcoholic, but you’ll always be in recovery.

Anyway, let’s look at my savings:

Assets Last Month This Month Change
Savings $215.21 $833.33 $618.21
Mutual Fund $1,595.30 $1,629.79 $34.49
Total $1,810.41 $2,463.12

↑$652.7

Go, me – I put away a little money! Although, with my $600 recording equipment purchase, I already know I won’t be so lucky next month. 🙂 Either way, I’m glad to see I’ve improved somewhat in this category.

And, now – my overall net worth:

Last Month’s Net Worth: -$29,004.20

This Month’s Net Worth: -$27,807.66

Change: $1,196.54

APR 2016

And, my quarterly net worth:

apr 2016 quarterly

 

Surprisingly, I did a lot better this month than I thought! And, looking at my quarterly net worth is also encouraging – look how far I’ve come! So, although I was dreading this month’s update, I’m pleased with the results and look forward to getting back on track.

See you next time!

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10 Comments

  • Reply Miss Thrifty April 18, 2016 at 2:19 pm

    Congrats! Even though your progress may not be as fast as you’d like, it’s progress none the less and certainly worthy of celebration and pride! 🙂

    I, too, have that mid-month slump sometimes. I know that I’ve spent too much and feel like I am putting myself so far behind. Then, when I crunch the numbers, I figure out I wasn’t doing so bad after all and should stop being so dramatic and hard on myself!

    • Reply Katasha April 19, 2016 at 9:13 am

      Right? The drama is so unnecessary! I guess it’s all part of the process.. If anything, I’m glad that I’m conscious of it, otherwise I’d be spending 3x as much!

  • Reply Mrs. Groovy April 19, 2016 at 7:31 pm

    Are you getting into podcasting with the recording equipment? I’m sure you’ll tell when you’re ready. Good work on the student loans, especially D. You’re really chiseling that debt away.

    • Reply Katasha May 4, 2016 at 10:52 am

      Thanks, Mrs. Groovy!

      So, I was planning on starting a podcast but I decided to put that project on hold until I felt comfortable maintaining this whole broke girl rehab project. I think I’ll use the recording equipment to make videos and – when I’m ready – I’ll venture into the podcast game.

  • Reply Mariana April 22, 2016 at 3:23 pm

    Last week I signed up for YNAB and so far love it. Trying to use my card for everything so it tracks it for T. and me. T. uses his card for everything so no more wondering where the money is going.
    Before then I always had good intentions to travel EVERYTHING every single penny but it would usually last for a week into each month. So, yea, know what you mean! Even when you get off track, never too late to hop back on.
    Well done thins month. Cheering you along!

    • Reply Katasha May 4, 2016 at 10:53 am

      Thanks, Mariana and welcome to my blog!

      Yeah, YNAB is great, but I find that – when I realize I’m spending too much money – it gets a little difficult to track. I guess that’s the point 🙂

      I just paid for an entire year’s subscription, woo-hoo!

  • Reply Mr. Groovy April 23, 2016 at 7:06 am

    Awesome job, Katasha. Looking forward to how you’ll put that recording equipment to use. I hope you’re venturing into the podcast world.

    • Reply Katasha May 4, 2016 at 10:54 am

      Thanks, Mr. Groovy!

      I shall venture into the podcasting world someday, but for now I’m going to do baby steps and just use it for recording videos.

  • Reply Alyssa Fischer May 25, 2016 at 12:22 pm

    The fact that you`re still able to save is sooo inspiring! Just out of curiosity, have you ever considered consolidating all of your student loans? I get stressed just having two credit cards, let alone A through E to worry about. Props to you!

    • Reply Katasha May 28, 2016 at 12:42 pm

      Hey, Alyssa – thanks for stopping by! At the time, I had really bad credit so I was unable to consolidate my loans, BUT just figured out that (after paying off my credit card) by score is now 704 so I’ll take a look into it!

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