Net Worth Update #1: November 2019

Welcome to the first of my net worth series! I decided to start posting monthly updates to track my progress from $100k net worth (which I hit in July 2019 at 26 years old) to multi-millionaire. I am excited to document my journey and hopefully inspire along the way.

November 2019 Net Worth: $131,696.87 (+$10,929.48)

November was a great month financially. I received 3 paychecks (based on the bi-weekly payment schedule this year) and the market went up. My net worth increased $10,929.48 since last month, $9,736.22 of which I contributed through savings and investments.

Cash Money (+$2,087.26)

Checking Accounts (+$36.03) – I tend to move my money out of my checking account as soon as I get paid, so at the end of every month I end up with a small buffer to get me by until the next paycheck. It’s a good thing I manage my money closely – definitely do not recommend this!

Emergency Fund (+$126.23) – I hit my emergency fund goal of $15,000 in September, but I’ve decided to continue to add $100 a month

Parents’ House Downpayment (+$1,925) – If you’ve been following me on Instagram, you will know that I have a goal to help my parents save for their downpayment on a house. My parents are 10 years from retirement, but do not have much saved yet. Their biggest goal has always been to buy a house, so I am helping them accomplish their dream! I started saving in September and set a timeline of 2 years to save about $40-50k

Christmas Fund (+$0) – I already reached my goal of $600 for Christmas presents, so I haven’t added anything since September

Investments (+$11,192.17)

Vanguard Accounts only (Roth IRA, Rollover IRA, Brokerage)

The market has been good to us this month. As you can see, my investments have gone up significantly but I’ve also been pouring money into my accounts to hit my savings goal of $7k this month, which I’ve surpassed!

401k (+$1,179.53) – I contributed $565.40 to my 401k this month, which means the rest of the increase resulted from the market growth. It has officially been 1 year since I joined my company, which means my employer match should start soon. Hopefully I can get some of that free money before I hit $19k in contributions this year

HSA (+404.52) – I contributed $434.22 this month. I am $476.92 away from maxing out my HSA this year

Roth IRA (+$440.58) – I maxed out my Roth IRA at $6,000 last month, so the increase came solely from the market (whoo!)

Rollover IRA (+$1,774.11) – Haven’t contributed anything to this account since I rolled over my old 401(k) so this increase is from the market

Brokerage Account (+$7,393.43) – I contributed $6,635 this month. My goal is to invest $10k in my brokerage account by the end of the year, and YTD I have invested $9,395 so I am almost there!

My Asset Allocation

I am a fairly aggressive investor and am heavily invested in US stocks (mostly through VTI and VTSAX). I have a sprinkling of International stocks and US bonds. Now that I am capturing my asset allocation every month, I am going to be more mindful of how I diversify and rebalance my portfolio.

Liabilities (+$180)

Rent Payable (+$1,875) – This is the amount that I’ve left in my checking account to pay for rent. My boyfriend usually venmo’s his half of the money and the rent is paid to my landlord from my account. The money is scheduled to leave my account usually on the last day of the month or the first day of the next month.

Credit cards (+$180) – I strive to pay off my credit card balance by the end of every month, but sometimes they will spill over into the next month and I am perfectly okay with that.

Savings: $9,736.22

Expenses: $1,818.21 total spent

Wants vs. Needs

I was within budget for my necessities this month. Most of my living expenses are fixed, except for groceries which I work hard to maintain. However, I did go over by a little in the wants categories. I ended up sending $200 to my parents on a whim and spending money on mywealthdiary stuff (the blog + domain). I am pretty happy with the low spend month, but would like to increase my personal spending next month. I think I’ve been too restrictive lately, which has helped my savings goals but feels bad in my personal life. Gotta work on balance!

No Spend November: 13 no spend days

At the beginning of the month, I set a goal of 13 no spend days. By no spend, I mean spending literally $0, so I included bills and other necessities in my challenge. I set this goal so I could accomplish my other goal of saving and investing more than $7,000 this month.

How did I do my no spend month?

I used a planner to track my daily spending. I highlighted the days where I spent $0 and wrote the dollar amount on days I did spend money. This helped me keep accountable and on track to meet my goal. To keep spending low, I did the following:

  • Went grocery shopping and packed lunch for work every day
  • Drank the free coffee at work and always had snacks on hand for when I would get hungry during the day
  • Walked to work to save on transportation and get exercise
  • Decluttered my stuff and realized how much I already own
  • Didn’t go crazy shopping on Black Friday

So that was my month, how was yours? Overall, I think this month went really well financially and I am excited to start preparing for 2020!