Every month, I write a detailed report about the progress I’m making on my net worth journey. This is my net worth report for July 2025, with a full breakdown of my financial position.
When I started PoundWise Journey, my goal was to stay accountable and share the progress I’m making towards financial mastery.
And what better way to do that than by publishing monthly net worth reports?
Below, you’ll see my total assets, total liabilities, and overall net worth. I’ll talk about what assets and liabilities I have and then calculate my total net worth. Also, I’ll talk about what’s changed since last month, and set my targets for the month ahead.
My Net Worth for July 2025
Assets
I’ve now made a start on building my emergency fund. It’s not a huge amount at the moment, but I’m building the habit of saving 10% of my income, plus any surplus money I have at the end of each month.
For example, this month, I had £30 leftover in my current account, which I’ve also put into my savings account.
Here is a breakdown of my total assets, along with the previous month’s balance.
Savings Account/Emergency Fund: £198.00 (Previous Month: £0.00)
Total Assets: £198.00
Liabilities
In June’s report, I said that any surplus money will go towards paying off my debts, but I’ve since decided to change my approach.
I’m still paying £25 per month on my credit card and £20 on my Very account. But from now on, any extra money will go into my savings instead, so I can start building an emergency fund.
That being said, before I made this decision, I had a surplus of £10 in June which I paid towards my Very balance.
Here is a breakdown of my total liabilities, along with the previous month’s balances.
Credit Card Balance: £1,825.00 (Previous Month: £1,875.00)
Very Catalogue: £90.00 (Previous Month: £140.00)
Total Liabilities: £1,915.00
Net Worth
Net worth is basically what you have left when you subtract your liabilities from your assets. Or put even more simply:
‘Assets – Liabilities = Net Worth’.
Following that same formula, I’ll now calculate my own net worth.
£198.00 – £1,915.00 = -£1,717.00
What’s Changed Since Last Month?
First, I want to make clear that I published June’s report before I received my Universal Credit payment. Going forward, I’ll post these reports on the last day of the month, after I get paid. This helps me establish a consistent routine while also giving a more accurate picture of my month-on-month growth.
In simple terms, I’ve been paid twice since posting June’s report. This would explain why there’s such a big difference between from last month and this one.
Here’s the comparison:
June 2025 Net Worth: -£2,015.00
July 2025 Net Worth: -£1,717.00
Change from Previous Month: +£298.00 (+14.78%)
As I mentioned earlier, this growth is essentially spread over two months of income. June’s report didn’t include that month’s payment, while this report was published after I received July’s payment.
Because of that, I’m not expecting to see this much growth every month. But if I can continue to increase my net worth month by month, I’ll start to build some real momentum.
My Target for Next Month
It’s still early days for me, but my main target for next month is to simply improve my net worth again. When I set my financial goals for 2025 a few weeks ago, one of my goals was to consistently improve my net worth each month.
Essentially, for me to achieve this goal, all I have to do is to keep paying off my debts and putting more money into savings. If I stick to my budget and avoid any silly impulsive spending, I’ll be sure to tick this goal off.
I’m still looking for a job. Even if it’s something short-term, it’s better than nothing and would still help me boost my savings and reduce my debt.
Anyway, thank you for reading my net worth report for July 2025. I look forward to seeing what progress I can make for next month.
If you’re on a similar journey to mine, I hope this post reminds you that progress takes time, no matter how small the steps are.