Welcome back to the monthly net worth series. I debated on doing a net worth checkup for June because I was thinking about moving to a quarterly schedule instead of monthly. I felt like the series might become boring if I didn’t have a big change every month. I decided to go ahead and continue to track it monthly though. This blog is all about our journey to becoming a millionaire so I might as well show the results each month right?
- Started the month with a net worth of $92,835.33
- Regular income = $2,810.31
- Side hustle income = $531.25
- Total Investment gains = $647.79 (includes my 401k contributions)
- Cashback from credit cards = $59.83 (This wasn’t included in the last report so this is 2 months worth.)
- Total income = $4,049.18
- Total expenses = $2,674.65 (including a 10% tithe on income)
- Total saved = $1,374.53
- Total net worth as of today’s calculations = $94,905.14 ( I did a more accurate calculation on our home equity this month so that added over $1,000.)
What our net worth consists of:
- Investments = $29,412.32 all in Vanguard funds
- Cars = $23,000
- Home equity = $16,051.62 ( I’m calculating this as if we could sell our house for $110,000.00 and subtracting 10% for seller fees. Then subtracting what we owe – $82,948.38)
- Everything we own that could be sold = $15,000
- Emergency fund = $8,582.74 (currently in a Betterment 60% stock 40% bonds account)
- Cash = $3,210.19
If you’d like to start tracking your net worth, sign up for a free Personal Capital account! I love Personal Capital because it allows you to connect all of your financial accounts and track your net worth in one place. It’s super easy to use.
I guess it’s a good thing to do these reports every month as I’ve become more accurate with my calculations each time. My total Ebay/side hustle profits were $773.32 before subtracting expenses. I have been putting more effort into my Ebay store and hope to eventually match or exceed my salary with sales.
Another cool addition to income this month was my first paid writing gig! $50 to write one post is pretty exciting! How I got the writing gig was completely attributed to having this blog so it’s cool to see it paying off in some way.
Nathan created Millionaire Dojo to document his journey to reaching a million dollar net worth so that others may be inspired to follow the same path. He and his wife reached a net worth of one hundred thousand by the age of 25 and has been featured on Business Insider. His blog focuses on practical advice that can be implemented immediately in the form of saving money, earning more, and investing to create passive income.