Money Fitness Journey

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    October Net Worth 2017

    October 22, 2017

    What a really great month! This month I stayed focused on being self-aware of my spending. Tracking my net worth every month and sharing it has been a great decision. It keeps me accountable.

    Income

    This month I made $3,777 after my contributions to my 401K. I received income from investments and $651 for clothing allowance from the military. This is money I get once a year to pay for uniform items I might need. Luckily, I just pay for items as I need them throughout the year. So, I am able to just stash this extra income away.

     

    Expenses

    Expenses total right at $1,427. There will be a few more things I will have to buy next week before the end of the month. But nothing major. My true expenses might go up another $100-$200.

    Savings

    This month I’m ahead of the game. I saved $3,157. Which is right around 64% saving rate. So, this month’s break down is below. Right now I’m really trying to buff up the cash I have in my money market account. The goal is to use the excess cash to max out the Roth IRA in 2018 by February.

    • $1,106 Roth 401K
    • $2,051 Money Market

    Net Worth: $89,154

    This will go down a few hundred dollars by next week for reasons I stated in my expenses above. Can’t complain about this net worth. I’m really starting to see the compounding of returns take effect. That is a +$5,452 gain since last months net worth for September was $83,702.

     

    Final Thoughts

    Wow, what a ride this month was from a market standpoint! I officially broke my net worth goal for 2017. That goal was to hit $85K by December 2017. Decided to move it to $90K last month or the month before. Yet I might be beating that goal as well next month as long as the markets hold up. I’m still holding the same allocation for my investments. I have been considering of adding how much I have in each type of investment with what funds I invest in those vehicles.  I think that might help inspire others by really breaking it all down.

    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.  

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