How’d We Do? Our 2020 Year-End Financial Strategy Report
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2020 was the first year that I really started to take our finances seriously. I started to do more research into investments and to think about what we should do with our money.
While the rest of the year was pretty terrible with COVID-19 and murder hornets, we had a solid year financially.
That all started by being able to track and trend our finances. From there, we adjusted our goals and came up with a strategy to meet them.
The first thing I did was to create a simple spreadsheet that tracked the balances of all our accounts. I included each of our bank accounts, investments, and retirement accounts to give a full picture of where we stand. Every month, I would login to each account and record the balance at that time.
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By doing so, I was able to calculate our net worth and how well our investments were performing.
Net worth is calculated as the the sum of all assets minus any debt or liabilities. For example, you may have $100,000 in your bank and retirement accounts…
