Overall, my net worth grew by 6.13% during the month of December. I am pleased by the progress of portfolio. More importantly the discipline with which I have been able to pay off my student loans.
For the year 2018, my financial goals would remain similar – pay off the loans, increase the dividend earnings, save more, and spend less.
Lets look at the balances breakdown for assets, and liabilities for the month gone by.
1 Cash in Bank Account $7,388.00
2 Investment Accounts $27,694.50
3 Pension $19,306.06
4 Lending Loop $599.24
Student Loans $17,230.00
2 Credit Cards $0.00
Net Asset Worth $37,757.64
- The cash balances for the month decreased by approximately 14%, largely due to the contributions to the Investment account, and additional student loan payments.
- The student loan outstanding now sits at approx. $17k, which is more manageable. In the year 2017, I was aggressively paying towards this loan and plan to pay this out by Feb 2019 (although, I want to be done with this by December 2018).
- My Lending loop increases for this month has been a paltry 0.48% from the previous month. Few months ago, I withdrew my funds from the account as the loan was paid in full before its duration date. You can find the details here.
Year End Thoughts:
- This was my first year of hosting the website, and tracking my expenses to better understand the state of my finances. I am glad to see how far I have come, since my first update.
- From a net worth of approx. $20k in the month of July 2017, to $37k in December 2017. This is completely mind boggling.
- Going forward, I would want to increase my cash amounts – as this would be my emergency fund.
- Also, at this point I find the markets are pricey. I would want to wait for a correction to deploy the additional cash sitting in my bank accounts to buy stocks. At the same time, I find I would be more on the lookout for dividend stocks.
- Dividend stocks would work well in the event of a downturn.