Millennial Millionaires Share Scariest Net Worth Break Down Yet!!

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At this rate, just make it stop already. $700+ Grocery Expenses slashing away at our wealth.

Welcome back to TNFG’s monthly Net worth Breakdown, where I’m reviewing my household’s September 2020. This month, I’ll also share the wildest and most terrifying monthly budget ever. This was worse than the 1^st Presidential Debate.

If you haven’t been keeping up, this is the fifth article in this series. You have plenty of time to check out:

Before we get started, just to let you know 2020 now setting its eyes on 2021. Damn you 2020!

Carnival in Trinidad, Notting Hill (England) and everywhere else except Miami will likely be cancelled for 2021. Even Christmas will be toned down for a lot of people this year due to COVID. Check on all your travel friends and those in the tourism industry, it will get rougher before we see daylight of full recovery 2022.

Currently Travel Sad

I’m kind of mad because I was planning a big trip to Argentina, Chile, and Brazil-RIO for 2021 but alas, I’ll be here. However the show must go on, just more time for use to get our pre-COVID bodies back.

As always here are the rules. We are following the BudgetAreSexy.com by J-Money’s mantra, a brief synopsis of our household’s assets and liabilities.

1. What went well?

2. What didn’t go so well?

3. What am I working toward?

So Many Bezos Swipes, My Credit Card Disowned me.

Nothing kills more savings (in 2020) than Amazon Prime (with Video)
TNFG 2020

There was red everywhere. I’m pretty open about money so that doesn’t scare me but seeing so much red, we were bleeding out.

Everytime wifey stepped out, I knew there will be spending. On what, the world will never quite know. It’s nerve wrecking when she gets into her savage mode.

The car broke down twice so there goes $800 in repairs.

We had Amazon rolling in daily on our subscribe-and-save. So much so, we looked like hoarders or a doomsday cult. We went hiking, and even ate out. To a debt free person, this is sacrilege.

Looking back, we were splurging on ridiculous.

The only reason why our finance didn’t break the record, was due to the insurance money ($2.6k) for the leak from upstairs but those repairs are slated for December. And I made $750 from the side hustle.

Final Net Worth Movement?

In the end, our net worth went up a solid 9.32% – a cash value of $32,435+. The majority of that, $30,000 came from our new home valuation because stocks were struggling. This area is booming and we are benefiting as long term buy – future rental investors. I’m still holding out hope to close out the year at $400,000 with 4^th quarter stock market slatted for a potential Santa clause rally.

1. What went well? Nothing

Home Values are climbing. With strong housing sales in August 2020, it’s becoming a seller’s market. If you have the cash and the drive, I don’t see why you are holding out. It’s a game of monopoly out there. After the Housing crash of 2008 and the recovery; those held and won noticed a pattern. It’s all about buying and holding because they aren’t making any new land.

Buy what you can instead of renting, and what’s affordable. Your wallet will thank you later when the market tanks. At least you would have a home that’s reasonably priced, vs a mansion that you can’t sustain.

That accounted for a +9% increase in our other investments category.

Investments and Passive Income. We reached our goal of $10,000 back in early August. I’m happy to say, we added an additional $2,000 in there. There is an $21k of ROTH IRA funds that’s waiting in the wing to go to M1 Finance or Fidelity. Since I’m not timely with this, we missed out on $250 in dividend income in November.

The market dropped in September but I have good instincts for the 4^th quarter. We might see an increase of +10% over the next three month. We also post a few HyperMax investment strategies for Age 25-30, 30-35, and 35-40. A great way to get to $1 million with only 5 years of effort. Though I’m not saying that it’s the only thing you should do, but it’s great to see that wealth wins are still very possible with tons of effort.

2. What didn’t go so well this month?

Food costs are up. For just three people (since we have a special guest), we are averaging about $700+ per month buying from Wegmans. Food cost are nasty. US grocery costs jump the most in 46 years, led by rising prices for meat and eggs, see article.

Turns out, “The price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9%, and dairy goods gained 1.5%.”

Over spending on that Amazon Prime. I have no excuses here, just spending like it out of style. Off course, it might be important but it’s also killing us softly. Or stabbing me in the back every time the credit card statement updates. And it’s not even the holiday season. If you want to learn “How I Took Control Over Our Spending on Amazon”, just click to get a chuckle. Bezos need to run for office because we already bought in.

Cash and Emergency Funds dwindled because I wanted to invest more. Money doesn’t come from nowhere.

Too bad I put money in AAPL after the split and the market tanked. I missed the dip by that much. Something had to give but we should replenish back to $2,500 with $333.33 per month for the fourth quarter. To quote His and Her money, “the fourth quarter is where winners capitalize.” It’s not over yet.

Savings vs Credit?

Debt Repayment. We took up an additional credit card since Chase was selling it hard to us. We will earn $200 with our upcoming spending; on top of that, 15 month with zero APR which isn’t bad at all. It’s just a good opportunity to reclassify and save on interest cost while making the most of the point system. On top of that, no annual fees – Chase Freedom Card for the win:

Earn $200 cash back with the Chase Freedom Unlimited card or the Chase Freedom Flex card with 5% cash back on grocery store purchases (not including Target^® or Walmart^® purchases) on up to $12,000 spent in the first year. That’s about $400 cash back for groceries for the year (on avg. $8,400 groceries). Here’s the link:

https://www.referyourchasecard.com/18f/MX6509Z7OE

3. What are we working toward?

Closing out the year stronger.

Working on investing an additional $500 to hit the total of $12,500 in M1 Finance Brokerage focused on Dividend Income that generates at least $1,000 in passive Income for starters in 2021. Check out the portfolio in real time. If you like the platform and want to start investing, I have the $20 for $20 referral if you need it – https://m1.finance/SYdqDJ2SyADC.
Boosting back the EF savings with an additional $1,000. Keep tabs on your savings, cash flow, net worth, investments, retirement and more for absolutely FREE with Personal Capital! Sign up with my link & get $20 Amazon gift card. *Terms apply. https://pcap.rocks/lawrencegonz
Getting back to shape – HIIT Mornings. Running, and biking just pushing out effort. I say it all the time but it’s still good. We did start HIIT workouts off of YouTube.
Fixing our homes – December. Fixing the leak damages in our primary home and updating bathrooms in the rental. It’s going to suck but at least you get to see the before and after. The goal is to get back to fully operational by January 2021.

Last Rounds

Set audacious goals and work on them constantly. That’s how you change yourself and that’s how you win. If you want to know more about our technique, check out the Net Max Financial Plan for Couples.

Our Net Worth up +60% this year, a total value of $145,645.

For us, it’s not just about paying down debt but to really use time to help us propel our wealth higher with more velocity. We will likely the ½ Millionaire marker by June 2020. A far distance from struggle city of Negative $125,000 in 2014. Now that we formed up like Voltron, we definitely have way more to go.