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 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.