JANUARY 2025 NET WORTH & FINANCIAL GOALS UPDATE

In this video, I share our real number net worth as of January 31, 2025. When we started this journey back in 2020, we had over $120,000 in student loans. Over the last two years, we have more than doubled our net worth by decreasing our liabilities and increasing our assets. I talk about how to calculate your net worth and how our net worth has changed over the last year. I also discuss our current financial goals and our progress towards our 2024 financial goals which include maxing out two Roth IRA's for 2024, saving for a basement remodel, saving additional money towards our emergency fund and saving for our kids college funds.

Knowing your net worth is a critical part of your financial picture. Many confuse income with net worth; however, they are very different. Your net worth is a calculation of your assets minus your liabilities. Assets can include cash in a savings account, 401(k), jewelry, or real estate investments. Liabilities can include any outstanding debts you might have, like student loans, credit card debt, or a mortgage.

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PLEASE NOTE: I am not a finance professional and just want to share my journey openly and honestly. This is only my experience and not intended to give financial or legal advice.

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[DearDebt]

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See you in my next video! XO, Amy

[dreamchaser]

Congrats 🎉! Nice work. Agree with the decision to exclude the car fund. That money is earmarked for spending

[RoseAnnVillafranca]

Net worth is the measure of your financial health at a point of time. It will fluctuate constantly. Your vehicle, jewelry, cash you’re saving, etc should be part of your assets regardless of how you are going to use them. But…this is your personal financial journey so it is up to you to decide what to do.

[summerjoy]

I would include it in net worth because you can sell a car even for parts.