It’s another tough month in the old net worth update series. While we did good on saving money, the markets went down pretty bad. I don’t keep up with market fluctuations very closely and only knew about them from seeing our own numbers drop and seeing other bloggers write posts about it.
Our net worth may have dropped this month, but I’m not worried about it. The market has been on such a good path for years now and it was bound to start dropping at some point. The good news is, we can still invest our money and it will continue to grow in the long run.
- Started the month with a net worth of $97,198.13
- Regular income = $3,101.20 (got a 7% raise this month whoop!)
- eBay income = $499.02
- Wife’s income = $700.00
- Credit card cashback = $879.00
- Additional income = $20.00 (I don’t remember where this $20 came from but it’s there haha.)
- Total Investment gains = $ -2,206.81 (Includes my 401k and IRA contributions.)
- Total net income after taking away loss in investments = $2,992.41
- Total expenses = $3,402.84
- Total saved = $1,796.38
I realize that this report is confusing because I’m showing my expenses to be more than our income and somehow still saved $1,796.38. This is because I factored in investment losses into our net income. The investment losses don’t actually affect our monthly income/expenses, so we really made more money than we spent this month. Unfortunately, this is the first month where the market has gone down since I’ve started doing these reports.
What our net worth consists of:
- Investments = $31,285.56 (all in Vanguard funds.)
- Cars = $23,000
- Home equity = $16,771.59 (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 = $8,426.69 (Currently in a Betterment 60% stock 40% bonds account.)
- Cash = $3,294.83
- Balances on credit cards = $-1,821.66 (This is today’s balance and will be paid off in full by the due date.)
- Total net worth as of today’s calculations = $95,957.01
If the markets correct and start going back up, we’re on track to break the $100,000 marker by the end of the year!