Where has the year gone?  How are you doing on your 2017 New Year’s resolutions?  If you’ve been slacking, NOW is the perfect time to grit down and finish off the last quarter of the year with success.  You can download my customizable excel budget workbook here to participate in the challenge.  The 2018 version will be out in December, so remember to check back to download that one as well.

What is the 2017 4th Quarter Net Worth Challenge?  It’s simple:

  1. See an increase in your net worth
  2. Track your spending for 3 straight months

Being conscious of where your money is going is half the battle.  If we can stick to the budget allocation above, we can save $1,521 this month!  That would be a great start to the last 3 months of 2017!

*This graph contains arbitrary numbers*

What is net worth, you ask?

Your net worth is your total assets minus your total liabilities.  If this number is currently negative, don’t worry!  If you start now trying to increase this number now, you’ll thank yourself a year from now, trust me!

If you start tracking your spending now, this gives you a much higher success rate to be more successful in 2018.  We all set Near Year’s goals, but how often do we follow through with them and how long do we stick to them?

But how do I track my spending?

This can be tedious, but once you get a routine, it just becomes second nature.  I recommend consolidating banks so you have less accounts to check, buying everything with a credit card to earn cash back bonuses(only if you pay off 100% of the balance each month), saving receipts, and using EverNote to track your spending.  Below is a screen shot of how I record my spending everyday!  Then I go back through my credit card and bank activity to things I miss.  Lastly, I record this in my AbsoluteBudget spreadsheet and use the comparison tab to see where I’m over/under spending.