Today, I’m going to take the opportunity to brag on Amanda’s financial progress. From July 31, 2017 to July 31, 2018, she was able to increase her net worth by 7,307%. I think that’s pretty incredible.
There wasn’t some miracle that had to happen to do this and she didn’t win the lottery. She didn’t buy some product that promises to take care of all of your financial woes and she didn’t start selling products from an MLM that promise to make you rich beyond your wildest dreams.
It’s simply a result of staying disciplined and executing a plan. There’s probably been much less discretionary spending on clothes, going out with friends, eating out, and hair appointments than she would like, but it has clearly paid off. She’s had to keep her long-term goals in mind to make sure that those old day-to-day spending habits wouldn’t derail her progress.
She used a simple formula that can work for anyone:
Live Below Your Means + Save + Invest + Focus on Paying Down Debt = Financial Success
She did start at a negative net worth last year (not anymore), and it’s likely that her net worth will go down over the coming years since she’s going back to college to finish her degree, but she’s buckled down and done what she can over the past year to put herself in a much better position to do so without completely wrecking her financial situation.
I’m proud of her for that.
