In January 2021, my net worth was -$15,000. By July, it was $15,000. This significant increase was achieved by sticking to three fundamental money rules that transformed my financial life. Here's how I accomplished it: I changed my mindset and planning. For years, my student debt from my Master's degree dominated my financial landscape. With over $50,000 of debt, every extra bit of money went toward paying it off. Yet, by February 2021, I decided to pause my federal student loan payments. With the pandemic halting interest accrual on federal loans, I shifted my focus to building wealth.

I invested more in a robo-advisor and a Roth IRA, eventually maxing out my Roth IRA and rebuilding my emergency fund. This strategic shift added around $12,000 to my net worth. Setting obtainable monthly goals was another critical step. Each month, I set a realistic financial goal, like growing my personal investment account from $3,800 to $5,000. I dedicated extra funds, such as stimulus checks, toward these goals. Compound interest worked its magic, significantly boosting my investments. By July, reaching these monthly goals contributed an additional $6,000 to my net worth.

Seeking additional income sources rounded out my approach. I dedicated specific weekly times to explore side hustles and freelancing opportunities. Living in the Alaskan Bush limited my options, but I found ways to build my freelance portfolio and leverage opportunities at my full-time job. This effort added over $5,000 to my investments in six months, surpassing my net worth goal. It's essential to acknowledge my privileges: I'm a white person from the suburbs who attended an elite university with significant financial aid. Underemployment was my choice, pursuing experiences like a Fulbright scholarship.

Despite these privileges, I haven't received cash windfalls or inheritances and have never earned more than $40,000 annually. My financial journey shows that consistent financial choices add up. Three years ago, I made my first Roth IRA deposit, which now makes up a substantial part of my net worth. I'm not perfect; I still had $37,000 in student loans in 2021. However, I'm determined to become debt-free. If you're looking to improve your finances, consider these three rules: change your mindset and planning, set obtainable monthly goals, and seek additional income sources. These steps transformed my net worth and can help you build a better financial foundation.