Week One Review | Wealthfellow

Hey there! Welcome to my weekly check-in. I will be doing this each week so that I can stay on track of my financial journey. I’ve strapped in and am ready to share the thrilling twists and turns of my first week diving into the world of assets, liabilities, and the all-important net worth. So, join me on this journey!

The Starting Point

As the week began, I decided it was time to take control of my finances. With my will and power to get ahead in life, I embark on a mission to understand the ins and outs of my financial landscape.

Goal #1: Adding up the assets

First things first, let’s talk about assets. After listing down everything from my cash accounts to investment accounts to vehicles, I was pleasantly surprised to find my assets totaled a whopping $95,615. It’s incredible how the small things we own can add up to something substantial. From the small accounts to personal assets, they all add up to my financial story.

Goal #2: Adding up the liabilities

Now, let’s address the not-so-glamorous side of finances – liabilities. We all have them, right? From student loans to credit card balances, it’s time to face the music. After crunching the numbers, my liabilities weighed in at $34,561. Ouch. But hey, who said financial makeovers were all rainbows and unicorns? As the saying goes, you can’t improve what you don’t measure. Confronting my liabilities head-on is a necessary step in this journey, and it fuels my determination to decrease those numbers.

Goal #3: Calculating my net worth

Drumroll, please! The moment of truth arrived as I calculated my net worth. With assets standing tall at $95,615 and liabilities trailing behind at $34,561, the grand reveal left me with a net worth of $61,054.

Reflections on Week One

In the world of personal finance, each week is a chapter waiting to be written. Week one has been a whirlwind of discovery. It’s not just about the numbers; it’s about the journey of self-discovery and empowerment. As I reflect on this week, I can’t help but feel a newfound sense of control over my financial journey. My assets and liabilities have sculpted a landscape that is uniquely mine, and I’m eager to see what the future holds.

Join Me on the Adventure

So, are you ready to take the plunge? Join me on this journey towards financial freedom. Let’s swap stories, share tips, and navigate the twists and turns of our own money makeovers. After all, the best adventures are the ones we embark on together!

Here’s to a wealthier future. Until next week, happy budgeting!