Our Net Worth goal for 2012 is £125,000 and every month I track our progress.
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Okay. A few changes to explain this month as we moved our money around a little.
Cash: Is all our liquid cash in our joint checking, gift, house and travel funds (which is depleted as we’ve now paid for most of our trips).
Freedom Fund ISA: Is our savings for our big move. When we eventually relocate we will need money to get our UK house ready to rent, for the initial rent in Portugal and perhaps for a little travelling in the time between the move. We’ve both agreed that our goal for this fund is £30,000! Yikes!
Emergency Fund ISA: Our long term emergency savings with interest paid annually.
Cash Bond: Also part of our emergency fund (can be cashed in if needed, hopefully not!). This matures in May 2016.
I don’t include our pensions in our net worth, I just include cash and our house. Hubby and I retire at totally different times so we don’t factor in the figures.
March was a good month for us financially because hubby received a small work bonus. We saved half of it and spent the other half on two new sofas. The sofas were definitely a planned purchase as we’ve been thinking about buying them for about 6 years! Our old ones were propped up on books and extremely uncomfortable, so we’ll finally be able to sit in comfort – I’m hoping that they last us for years and years. We got a really good deal, so I’m very happy.
March was also the month that we finally hit a six figure net worth. Yay! We’re about 4 months behind schedule on our financial freedom goals, but it’s still amazing as seven years ago our net worth was a big minus figure. I hope if you’re struggling right now, this gives you hope. I never imagined that I would ever get to this position……..and I probably wouldn’t have done without the support of my blogging friends, So thank you, all of you ♥
Do you track your net worth?
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