This month, I saw the biggest increase in my net worth that has ever happened in the span of one month– over $5k in growth. This has to do with a few factors: a) I invested & saved most of my tax refund, b) I received multiple stipends from my year-round positions that allowed my to invest & save more, and c) my investments performed well this month, bringing in some passive income. Here are the numbers:
Passive Income Report
This month’s passive income totaled $878, and my year-to-date passive income is now at $2,542. As I say in many of these net worth updates, I like to think of this number as the “raise” I’ve been able to give myself this year, and a $2.5k raise in the first 6 months of the year is pretty exciting to me! I’m getting to the point in my investing where the growth starts to get pretty significant, but it doesn’t happen overnight. 3 years of consistent investing is what got me to this point.
Other Notes & Reflections
You might remember my video back in December 2020, where I talked about growing my net worth by $20k in 2020. I’m excited to report that in the first six months of 2021, my net worth has already grown by over $20k. Now, something to keep in mind is that my net worth will start to decrease in July and August (due to living on my savings), AND I’ll be buying as used car, so my that will tank my savings as well. Still, I’m thrilled to have made this much growth in the first half of the year, and I can’t wait to see what the rest of 2021 brings.
Head to the video above to see the full breakdown of all of my accounts, plus commentary. If you’re ready to track your own new worth and see where you stand each month, get my free budget template.
And don’t forget that I made a resource for working on your money mindset as you walk through this journey.