July is now coming to a close so it’s that time of the month for my monthly net worth update! This month I have been super busy with work and getting ready for a few military schools coming up.
Me utilizing free fun at my pool!! There are so many free things or very cheap to do it’s insane.
This month I made $2,989 after my contributions to my 401K. This is actually more than I should get do to selling some stuff around my place. Noted the $118 in investment income is from last month and should not be in this months income.
Expenses total right at $1,811. I had to spend a boatload of money on uniforms this month getting ready for those two military schools coming up.
This month I saved $2,688 which is right around a 56% savings rate. Now, this is not including me saving the money from the things I sold around my place. It’s just easier to not include it for simplicity reasons.
- $1,888 Traditional 401K
- $800 Money Market
Net Worth: $119,683
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 +$6,351 gain since last month net worth update for June was $113,332
I’m starting to see the power of compound interests taking its effect on my wealth. This is where my past choices are starting to pay out dividends in a positive way. I always tell people really think about your current choices as they will affect you in the future either in a positive or negative way. Since I started making the right choices a few years ago to spend based on value and to make my freedom a priority I am now reaping those benefits and it only gets better from here. I am not some guru nor am I special in any way. Everyone can replicate and do what I do. The honest truth though is the majority of people won’t. Because it’s not fast, flashy or easy. It takes time, being honest with yourself, finding what really makes you happy, not seeking validation through stuff, and ultimately not caring what others think of you or your appearance.
I often see people assuming I am somehow deprived in life because I save so much. The reality is I spend based on what I value. I am in no way deprived in my life. I just don’t spend based on emotions nor to show off like most people do. I put my freedom at the top of my list of things I value. The more I save and the earlier the more freedom and flexibility I will have in the future. I have almost five months of military schools coming up that are going to be very demanding so I’m not sure how much time I will have to write. One of the schools is “Drill Instructor School”. Once I complete this I will become a DI in MCRD San Diego for three years which will be a very demanding three years. It was a hard choice to make yet again it is one that will pay me dividends in the future. It will help me with future promotions giving me nice pay raises and increasing my future pension. I will also see an instant pay increase next year of around $23K a year. My plan is to capture as much of that as I can by keeping my expenses low and utilizing this as a huge booster in my FI journey. The plan of now is to rent a room in a house to achieve this goal. Which in turn will be fun to document and write about on my blog. Currently, I am selling most of my stuff to prepare for this transition. I have found that I can live without most of the things I have and not really feel like I’m missing anything.
Well, that is it for now. I might try to write another post on my current situation of selling everything off and downsizing. But it all depends on how much time I have from here.
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