August is now coming to a close so it’s that time of the month for my monthly net worth update! This month I spent more than I was expecting I would. I had to buy some items for my military courses and had to pay the whole months rent cost even though I moved out right at the halfway point. I will be getting a refund for that in the mail one day…
I’m now currently at my first course and just got done with week two. It’s a seven-week course in Quantico VA. Since coming here I have taken advantage of free things to go see in DC. Again it’s incredible all the free things to do in places, especially in bigger cities.
Went to Arlington National Cemetery and saw the changing of the guard at the Tomb of the Uknown Soldier.
Then had the opportunity to visit the Holocaust Museum.
Will be doing more free activities this weekend!
This month I made $3,136 after my contributions to my 401K. This is actually more than I should get do to selling some stuff around my place.
Expenses total right at $2,006. I had to spend a boatload of money on uniforms this month getting ready for those two military schools coming up. Also had some unexpected bills that I had to pay. This will go down incredibly next few months.
This month I saved $3,278 which is right around a 62% savings rate. Now, some of this money might be spent eventually. Mainly the Money Market account savings. I have used this account as somewhat of a slush fund. I always keep a good amount of cash in there. I have upped it over the last few months because of my moves and things I might need for my military courses.
- $1,888 Traditional 401K
- $1,000 Taxable Account
- $390 Money Market
Net Worth: $124,912
This is where it gets a little sticky now. My net worth posted on Personal Capital in the sleek graph below is wrong. Still, have some of that crypto that would not link to Personal Capital.
That is a +$5,229 gain since last month net worth update for July was $119,683
I’m really seeing the effect of what a high savings rate can do. Even though the markets have not had any crazy high returns I am still seeing a very nice increase every month. I’m all about the slow and steady path to building my wealth stash. It’s actually building faster than I expected it too. Over the next few months, I predict it will increase a bit faster. This is due to my two military courses I am at. During this time I am paying no rent or utilities. I do get a stipend for food as well. Yet I currently am paying for food out of my pocket and plan to just collect the food stipend at the end in a lump sum. For my first course, that should be in the ballpark of $2,184. So I will not only be able to save more money but I am also going to see a nice lump sum kick back for this current course I am in.
I can not recommend people really dive into the FI and FIRE community enough. Maybe not everything will fit but I am 100% positive you can find something and apply it to your life to make it more efficient, wealthier and happier. I often see people just write off other advice because they are not in the same exact situation. FYI no one is in the exact situation in life. There are those that take everything they can and apply what they can and continue to improve. Then there are those who write everything off and typically stay stagnant. Of course, this is me generalizing and I’m sure there is some in between. Not only have I never been wealthier in a financial sense, I have never felt just so content and fulfilled in my life. The community is so great and supportive. There are so many people out there willing to share their journey and how they do it for free. It’s incredible the amount of information we have at our fingertips these days.
Some key takeaways I believe will change someone’s life forever.
- Find contentment
- Realize happiness is a choice not a product or place
- Understand your passions and interests
- Realize outward appearance to the world does not matter
- Majority of the time, less is better in context to stuff and space
- Being involved in a community or tribe is crucial
- Find purpose
I should and need to eventually do just a whole write up on these takeaways. With my limited time, we will see if that happens. I have applied these simple ideas to my life on this journey. Again it has made me a better person and I continue to work and improve who I am every day.
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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 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.