Net Worth Update #12
Time for another net worth update! On Net Worth Update #11 for February, I had a net worth of $12,522.39.
It’s been a year since I’ve started doing this, and I’ve definitely learned a lot of new things and became more conscious of what my spending is. I’ve been able to just really look at it and become more responsible financially.
All numbers here are logged in as of February 28 at 5pm. As always, to make things simpler in my blog, I’m going to do bullet points and quick summaries so that there’s no need to read.
My Assets (Cash & Savings)
CASH Details: I have 1 account that I consider my personal checking account.
- Wells Fargo — $2,078.80
SAVINGS Details: I have 1 personal high-yield savings account. I removed 1 account from my savings.
- Yotta — $7,287.58
SUMMARY:
CASH — My checking account grew for March because of a mistake in withdrawing my money from PayPal. I was only supposed to withdraw $150, but I just went in too fast without reviewing my transaction. Happy mistake though..
SAVINGS — You may have noticed that I don’t have Ally anymore. I decided to move my personal savings from Ally to Yotta. I am earning around 0.50% to 1% APY in Yotta than compared to Ally’s 0.50% APY.
However, the risk with this is that I have centralized my savings in one account. If for some reason Yotta is gone the next day, I could lose my savings. I know that the money is FDIC insured, but I still cannot ignore that scenario happening.
My Assets (Investments)
INVESTMENT Details: I have 6 investment accounts: 3 money market accounts & 3 cryptocurrency accounts. I have added multiple crypto yield farms to monitor.
Stock Market
- TDAmeritrade — $2,053.54
- WeBull — $8,469.85
- Public — $89.94
Cryptocurrency
- Coinbase — $216.38
- KuCoin — $599.77
- Wallets — $88.65
- BlockFi — $469.55
- Cake DeFi — $749.80
- Anchor Protocol — $307.17
SUMMARY:
Stocks — My stock portfolio has grown in value for this month. It looks like the market was favorable to us investors. To be honest though, I have not been paying attention to the market at all, so I have no clue what is happening.
But that is the point of dividend investing. You’re investing in companies that pay dividends so you don’t have to look at it all the time. This has been the goal ever since. I really want to build as much income streams that I can that are completely passive.
If you’re ever interested in investing in stocks, WeBull and Public are great platforms to start with because they give you signup bonuses. So make sure to check out WeBull for 2 free stocks and Public for a free stock worth $50 or more!
Cryptocurrency — I’ve made a lot of moves in crypto this month. I’ve moved some funds into KuCoin so I can utilize it better. I’m even planning to close BlockFi and start investing more in Anchor Protocol, as you see in its increase.
Total Assets & My Comments
My total assets for February is $22,499.67, an increase of $2,444.39 — a 12.19% increase from last month, February.
My Liabilities (Credit Cards)
CREDIT CARDS Details: I have 1 personal credit card. I removed 1 account associated with my business.
- Discover It — $33.98
SUMMARY:
None too crazy to talk about my credit cards. I have the same subscriptions in this account that I have yet to pay off.
My Liabilities (Student Loans)
STUDENT LOANS Details: I have 2 federal student loan accounts.
- EdFinancial Group A — $5,344.78
- EdFinancial Group C — $1,154.13
SUMMARY:
At this point, I have reached below the $7K mark. If everything goes well, Group C will be fully paid off around the first week of May. Then I will move on to Group A, where I will make $225 weekly payments.
Total Liabilities & My Comments
My total liabilities for February is $6,532.89, an decrease of $1,000 — a 13.28% decrease from last month, January.
My Net Worth for March 2022
So my new Net Worth for March 2022 is $15,966.78, an increase of $3,444.39 — a 27.51% increase compared to the previous month, February.
For April, since I’ve already finalized paying my taxes, I expect some excess money that I can use for my other goals. Any of that excess money will be divided into my student loans and also my sinking funds so that I can fully fund it before the year ends.
Personal finance can be very boring, but that’s how it is. Some of the things that really work well in life are those things that are not that exciting. They’re not exciting because they don’t really need to be exciting. They need discipline. You need to be very consistent of it. And those are things that we just don’t like to follow.
Now, whatever the future may hold for me, I know I might fail at some point, maybe there are some things that I make mistakes on, but if those things happen, then t hose are just lessons that I am going to learn. I am absorbing the message, and then I’m going to use that as a springboard to make myself better and reach my goals.
