Net Worth Update: March 2016 (-$29,004.20)

Let’s get straight to it: February was an awesome month financially. Because of an unexpected $3,500 bonus from work, I finally paid off my credit card and put $2,000 toward one of my high-interest student loans. As a result, my debt-free date moved up by a few months (now January 2019), and my credit score jumped by 23 points to 661! I even had enough money leftover to jumpstart my freelance writing career by paying for Cat Alford’s course on pro-writing!

I’ll write about all of these in more detail later, but for now – let’s just look at the numbers:

Debt Last Month This Month Change
Student Loan A $6,952.79 $6,897.09 -$55.70
Student Loan B $4,015.38 $3,940.65 -$74.73
Student Loan C $11,818.22 $11,723.96 -$94.26
Student Loan D $7,083.84 $5,029.51 -$2,054.33
Student Loan E $3,394.09 $3,323.50 -$70.59
Credit Card $1,057.04 $0.00 -$1,057.04
Total $34,321.36 $30,814.71 ↓ $3,406.65

That’s right, folks! In one month, I paid off over $3,400 of debt. This is by far the highest gain I’ve had since starting my debt repayment journey, and – I gotta tell ya – it feels pretty damn awesome.

Okay, now let’s take a look at my savings:

Assets Last Month This Month Change
Savings $400.00 $215.21 -$184.79
Mutual Fund $1,486.73 $1,595.30 $108.57
Total $1,886.73 $1,810.51 ↓ $76.22

Needless to say, I’m less proud of my savings progress. As I said in yesterday’s post, spending has become a bit of a problem for me lately. Not only did I not hit my target savings goal ($834), but I also dipped into last month’s savings – for no reason! It’s already done, and there’s no use in crying over spilled milk, but – moving forward – I’ll need to get more serious about keeping my spending under control.

Now, let’s take a look at my overall net worth:

Last Month’s Net Worth: -$32,434.63

This Month’s Net Worth: -$29,004.20

Change: $3,430.43

MarchNW

Look at that big ass f*cking chunk!, Regardless of my less-than-stellar savings progress, I can’t deny that February was a great month, thanks to my work bonus. In the future, I hope to report greater progress with my savings and – with a new career in freelance writing – more gains in debt reduction.

Wish me luck!

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10 Comments

  • Reply Kara March 14, 2016 at 12:28 pm

    That’s a great month for debt payoff! I’m proud of you. Getting rid of that debt will fee so good, and you are well on your way.

    • Reply Katasha Kay March 15, 2016 at 11:29 am

      OMG THANKS!!! And yes, I’m sure it will feel good paying off, but sometimes 2019 seems so f&!#ing far away UGHHHHHHHHHHHH!

      But thanks, I appreciate you stopping by 🙂

  • Reply Mr. Groovy March 16, 2016 at 4:11 am

    You rock, girl! I love the way you’re attacking your debt. You’re a true inspiration. And don’t worry, 2019 will be here soon enough.

    • Reply Katasha Kay March 18, 2016 at 4:48 am

      Hey, HEY Mr. Groovy! Thanks for stopping by! And yes, I forget how far away this moment seemed away from the first time I started paying off debt. Has it already been 3 yeara? Jeesh.

      So yeah, that’s a good way to look at it – I guess it will be okay afterall.

  • Reply Miss Thrifty March 21, 2016 at 1:02 pm

    Get it, girl! That’s some impressive pay off. (I love seeing progress graphs and I love on mine when I can see a giant step up the staircase instead of the regular little steps. Little steps are good but it’s so fun to see months where it looks like you took the stairs two at a time!)

    • Reply Katasha March 22, 2016 at 3:49 pm

      Hello, Miss Thrifty –
      Welcome and thank you so much for stopping by! And yes, looking at things visually is WAY better for me than just the actual numbers. I gotta see it to feel it 🙂

  • Reply Mariana April 3, 2016 at 6:52 pm

    Amazing! Just imagine, one day soon, all that money you are putting towards that debt now, will be going directly into your savings 🙂
    Paying off debt feels good, wait till you start putting that money into savings. You are well on your way, you are rocking it. Congrats!

    • Reply Katasha April 17, 2016 at 7:36 pm

      Hey, Mariana – thanks for visiting my blog! And OMG, I can’t wait to actually KEEP all this money I’m putting towards debt! I bet it will feel amazing 🙂

  • Reply Melisa April 18, 2016 at 5:28 pm

    Great use of that unexpexted money. Keep up the good work!

    • Reply Katasha April 19, 2016 at 9:12 am

      Thanks! I’m a really big fan of lump sums 🙂

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