Press "Enter" to skip to content

Net Worth – July 2021

Inspired by the net worth posts by The Saving Journey, I’m going to start posting my net worth every month. Reading the journey looks like her net worth went from £80k in October 2017 to £278k in May 2020. An increase of almost £200k in two and a half years! Impressive stuff and definitely motivation to start tracking net worth and seeing the money moves that can be made to get mine into a healthier position.

So here we are… net worth for last month (July 2021) is as follows:

July 2021 Net Worth

July 2021 Net Worth

Debts = £7,861.04

Assets = £13,611.93

Net Worth = £5,750.89

Although it’s far from impressive, this isn’t bad at all for me considering that at the start of the year, my net worth was negative. To be exact it was -5,983.66. To change this figure into a positive is a huge win for me. What was the key factor in accelerating that change? I got a new job paying a bit more that allowed me to save more whilst reducing my credit card debts at the same time.

In short, I went from taking home £3,100 a month to taking home £1,100 a week. It’s not a permanent change but earning more has definitely been the difference. I still have one last credit card to clear (after which I’m not going anywhere near them!) and the reason why I haven’t just cleared it is because it’s on 0% interest at the moment however I couldn’t have accelerated that process without increasing my take-home. I could have cut expenses, but I always find that more difficult. I’m in no way one of those frugal types! But I’m learning.

Comments are closed.