I’m not looking forward to this monthly update. September was the least profitable month for me since starting this blog. eBay was slow, I had to pay a ton for college and spent money on starting an antique booth that won’t bring any profit until the end of October. With that being said, I did get a $3,000 raise (it didn’t take effect until the last week of the month) and I did get my Roth IRA maxed out for the year.
- Started the month with a net worth of $97,728.46
- Regular income = $2,899.50
- Additional income = $441.67
- Total Investment gains = $947.63 (Includes my 401k and IRA contributions.)
- Total net income = $4,288.80
- Total expenses = $2,806.19
- Total saved = $534.98
I had to pay for college this month so that was an additional $2,060 but I was able to pay this with savings from my eBay store so it will be reflected in how much cash we have saved.
What our net worth consists of:
- Investments = $33,492.37 (all in Vanguard funds.)
- Cars = $23,000
- Home equity = $16,590.78 (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 – $82,409.22)
- Everything we own that could be sold = $15,000
- Emergency fund = $8,679.41 (Currently in a Betterment 60% stock 40% bonds account.)
- Cash = $1,112.75
- Balances on credit cards = $-677.08 (This is today’s balance and will be paid off in full by the due date.)
- Total net worth as of today’s calculations = $97,198.13
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.
So, that’s a net worth decrease of $530.33. Hopefully, this will be one of the worst monthly net worth updates I have to write. If I didn’t have to pay for college, it would have been a fine month. I think I’m going to see some decent gains from eBay and the antique booth in the future so I’m just riding it out for now and staying hopeful. I made a profit of about $300 this month from eBay but spent all of that on new items to sell.
All in all, I’m still a very privileged person who shouldn’t complain when my net worth drops by $500. I got a raise this month and my net worth should shoot up considerably next month since I won’t have any college expenses.
Nathan created Millionaire Dojo to document his journey to reaching a million dollar net worth and inspire others to follow the same path. Go here to read how he intends to become a millionaire and reach financial independence. If you’d like to contact Nathan, you can do so here.