Money Fitness Journey

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    August Net Worth 2017

    August 31, 2017

    August was a bad month for my net worth. I did spend more than I budgeted for. I actually spent some money on wants and not really on needs. I went on vacation to Key West to visit my Mom.

    Income

    This month I made $3,169 after my contributions to my 401K. I received income from investments as well.

    Expenses

    August expenses total right at $3,209. As you can see I spent a ton of money in August. This was due to the Key West trip. This by far is one of my biggest spending months that I can remember. But I’m all about spending money on things that bring me value. Traveling brings me value and visiting my Mom does as well.

    Savings

    This month was a lower saving month for me. I saved $1,106. Which is right around 26% saving rate for the month of August. So, this month’s break down is below.

    • $1,106 Roth 401K

    Net Worth: $79,952

    Well, the first time in this journey that my net worth has gone down. I have been so used to seeing my wealth grow that it feels off to see it go down. Yet I knew this day would come eventually. So that is a -$532 loss since last month. Last months net worth for July was 80,482.

    Final Thoughts

    Still high spending for the month of August. It seems I’m on a roll with high spending. This was the first month I saw my net worth go down. I knew it would come one day though. What’s crazy is even with spending $1,700 at Key West I only lost -$532. For the rest of the year, I need to buckle down though as much as possible. I mean in the big picture I still am doing great and still have a high savings rate overall. I also am in a better position than most people. I also am still ahead of my goal of $85K by December. So I should stop beating myself up yet easier said than done.

     

    FIRE HACKS

    Thanks for stopping by. I use affiliate links to support this site at no cost to you if you believe you get value, please consider supporting me by clicking. 

    My favorite free financial tool to manage my net worth is Personal Capital. You get a $20 Amazon gift card for signing up. 

    My favorite free investing platform is M1 Finance. You get $10 for signing up. No trading or management fees plus you can buy fractional shares. 

    My favorite Credit Card Hack is American Express Platinum, Hilton Honors Aspire, and Bonvoy Brilliant AMEX. So far they paid me over $2,200 this year to use these cards. 

    My favorite phone service is Mint Mobile. You get a $15 renewal credit for signing up. I get a year of phone service for a rock bottom price of $240. As a guy who travels and lives in an RV full-time, this service has been amazing.  

    Filed Under: Financial Independence

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