Net Worth Update #2: December 2019

December 2019 Net Worth: $139,179.17 (+$7,482.30)

December was a month of reflection and gratitude. Although I wasn’t able to go back to see my family, my boyfriend and I celebrated Christmas together and had some time to relax before the new year.

My net worth increased $7,482.30 in December, $5,143.07 of which I contributed through savings and investments. The market continued to go up throughout the month, which helped boost my overall net worth growth.

Cash Money (+$181.58)

Checking Accounts (+$101.78) – At the end of every month, I leave a buffer for my rent money of $1,875. Otherwise, I try to leave as little money in my checking account as possible. I know this isn’t what most people do, but I like to have my money working for me!

Emergency Fund (+$122.61) – I have been adding an additional $100 a month to my fully-funded 6 month emergency fund of $15,000. I’m not sure if I want to continue doing this, but my plan is to not touch this money unless completely necessary. It is sitting in my Wealthfront high-yield savings account

Parents’ House Downpayment (+$557.19) – I was able to put some money into my SoFi account, which is where I have my parents’ house downpayment. My goal is to save $40k in the next 2 – 3 years, so my plan is to put at least $500-1,000 a month towards this goal

Christmas Fund (-$600) – I took out $600 in cash for my Christmas gifts, so now that fund is completely depleted! Time to start saving for 2020!

Investments (+$7,201.29)

401k (+$1,234.48) – My employer match finally kicked in this month. My company does not provide a match for the first year of employment, but now that I am past my 1 year mark, I receive 50% of 6% (FREE MONEY!!) This month, I contributed $180.68 and my employer contributed $121.16. 2019 will be the first year I max out my 401k!! So exciting!

HSA (+$380.39) – I contributed $289.48, which means that including my employer’s match of $562.50 in April, I was able to max out my HSA this year

Roth IRA (+$396.67) – I maxed out my Roth IRA last month, so this is just the gains from the market 🙂

Rollover IRA (+$1,2247.89) – Gains from the market!

Brokerage Account (+$3,941.36) – I contributed $3,188.20 this month and the rest of the increase is from the market

Liabilities (-$99.40)

Rent Payable (+$0) – This is the rent money that needs to get paid! It comes out of my checking account at the end of each month. My boyfriend and I split the rent, so my half is $937.50

Credit cards (-$99.43) – My goal is to pay off my credit card balance in full each month, since I treat them like debit cards. However, I go over some months, and that is perfectly fine!

I am excited about my growth in net worth and financial knowledge in 2019, and I am looking forward to what 2020 will bring!