How We Paid Off $50,000 in Six Months While Investing
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Half-Way Point to Paying off Expenses
June 2021 is now over and we are one month closer to going back to pseudo normal. It’s kinda unsettling how most months are this positive and catastrophic at the same time.
I’ve been warning people about grocery store prices for months and it finally hit 4%. Cost of goods is going way up and there is almost no way to stop it. Car rental prices are astronomical.
Intuitive ways to stop this; buy less for a period of time. Invest more for growth over the loss in inflation. For example, if you have your money in a savings account at the bank for 0.01% while inflation is at 2.6% for the year, it means you are losing Negative 2.59% of your hard earned money annually. Additionally, banks are even dishing out more dividends toward their investors.
As of June 30, 2021, JP Morgan & Chase $JPM is up 23.47% YTD vs the Chase Savings℠ account interest rate is 0.01% APY (effective 9/14/2020). I really wish I was making this up. And it doesn’t include the dividend yield of 2.32% quarterly. Can’t say I didn’t warn you; you can’t save your way into wealth. On top of the investments, we are pushing to close out high credit card debt for good in 2021.
Half the year is gone and we’ve made over $50,000 in debt expenses and about $40,000 in investment contributions.
How did we track the total expense repayment?
Table 1. Monthly Expense Payments Recap
| Credit Card Payments | Interest Incurred minus CC Rewards | Mortgage Principal Repayments | Loan Repayments | Total Expense Payments | |
| January | $13,491 | -$51 | $737 | $254 | $14,430 |
| February | $4,673 | $51 | $689 | $253 | $5,666 |
| March | $11,264 | $22 | $762 | $255 | $12,303 |
| April | $7,942 | -$521 | $771 | $255 | $8,447 |
| May | $8,206 | $114 | $785 | $257 | $9,362 |
| June | $5,995 | $99 | $700 | $254 | $7,048 |
| Total | $51,571 | -$286 | $4,444 | $1,528 | $57,256 |
How Much Have We Invested as of June 2021
Grand Total $39,740. The White House opening up as the rest of the country to the mask-less paradox. If you have been vaccinated, then you can go maskless but the tricky part –> who is vaccinated and who isn’t remains unclear. While the Centers for Disease Control and Prevention said fully vaccinated people can be indoors or outdoors without masks, the mask rules still apply in some settings.
All this means is that people will be spending outside. Great for investors.
Only the future will tell however I suspect that some will fare better than others. Alas the old sayings hold true, “You can’t save yourself into wealth“ nor “Can debt freedom guarantee you wealth attainment.”
Table 2. Monthly Investment Recap
| Employer Investments | Additional Invts. Contributions | Total Investments | |
| January | $4,415 | $2,850 | $7,265 |
| February | $4,415 | $2,193 | $6,608 |
| March | $4,415 | $2,291 | $6,706 |
| April | $4,415 | $2,165 | $6,581 |
| May | $4,415 | $1,850 | $6,265 |
| June | $4,415 | $1,900 | $6,315 |
| Total | $26,490 | $13,250 | $39,740 |
Celebrating Half the Year and Something More
This article will showcase the TNFG monthly Net Worth Breakdown for June 2021 where making money make sense. Additionally, there are always usable financial nuggets and aha moments that might help you along the way. Growth for the year closed in on $100,000 if it wasn’t for the squirrel(s).
Settling into Normal from June and beyond
Beyond tightening the war chest for the second half of the year, I will definitely looking into property management. Going back and forth for showing in Florida is not my cup of tea. By 2022, It’s time to implement a 3-yr aggressive pay off strategy to the tune of $25,000 extra per year.
Secondly, time to focus on making the back half more productive by publishing new paid content for passive income of maybe $50 per month. My wife and I will be picking up more $NIO stocks, High-dividend ETF stocks like $FDVV, Travel from Cruises to $JETS and Consumer Staples. People are brewing to spend us back to a booming economy.
Here’s the Quick June Summary:
What Happens Next!
We are in the end game, referencing the Avengers’ blockbuster movie. In more ways than one, 2020 has offered the world an opportunity to break from the treadmill, process and think, and finally given a choice. Go back to 2019 lifestyle or move forward to 2021.
The TNFG household chooses to move fwd.
June 2021 was filled with unexpected expenses but ended with +4.47% growth. The cash value growth of $24,000. We are on track to close out the year with +$160,000 in growth.
Our Expenses for June 2021
It was Bday Month!
There were a ton of unexpected expenses in June. It even culminated with getting rid of squirrels in the wall for almost $1k.
Tons of fun and funds for the wife’s bday. It was a good opportunity to join the #weoutside movement and thus a jump-start to summer.
Beyond that we spend more than anticipated on shopping since we will have to return to the office soon as well as personal care. To lower cost, we finally merged Geico Car insurances which gave us the credit of $30.
If it’s not one thing, it’s another. That’s the basis of expecting the unexpected. A great budget offers flexibility.
1. So Where were the June wins?
In order; Debt Repayments, and Investments
Debt Repayment in 2021 is going well
The goal for total debt repayment is $100k in 13 months. This month was mild but still improved by $2.3k. While student loans are in forbearance, this is the best time to work to pay off debts before they pop back up in October. July should be fairly more aggressive.
Investment Improvements Ahoy
I’m beginning to see an inverse relationship between Bitcoin + Meme stocks vs how the regular market performs. Thanks to China stepping up Bitcoin scrutiny, those investors tanked (for now) while our investment started to rebound for the year. Total June growth over $15k.
We rebalanced some tech and diversified in indexes, REITS and Dividends. I think the back half of 2021 might be richer than the first half. Time will tell. If you need tips on how to set up a solid portfolio, read How to Build a Long-Term Investment Portfolio Earning 250%.
2. Where did we falter?
Food and Unintended Expenses
As stated early, I can’t control food cost due to inflation, and unintended expenses. Squirrels sometimes happen.
What we can control is how we react in times of crisis and how we change to meet the challenges ahead. It’s always best to falter and get back up again. Alas as you can see below, Blacks in America have had it rough and we just part of the relay race to make it better.
Crazy enough, the TNFG household is moving from one point in the timeline to the other. The entire website is a trail of breadcrumbs for others to follow.
3. What is the Next Step for Us?
What’s the deal for July. Renting out the property in Tallahassee and Fitness.
Got to launch e-Books or other items for the website by August 2021
Beyond that here’s our overarching goals for 2021:
- Keeping our expenses where they should be. “So stop equating happiness and social acceptance based on the money you spend.“
- Get to $45,000 in M1 Finance focusing on Growth and Dividend Income that generates at least $2,500 in passive income in 2022. Check out the portfolio in real time. If you like the platform and want to start investing, I have the $30 for $30 referral if you need it – https://m1.finance/SYdqDJ2SyADC.
- Shooting for a sustained investment rate with the push for $1 Million net worth in 2 Years. To help monitor your savings, cash flow, net worth, investments, retirement and more FREE with Personal Capital! Sign up with my link & get $20 Amazon gift card. *Terms apply. https://pcap.rocks/lawrencegonz
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