Intro to a Future Millionaire's Monthly Net Worth Tracking Series

In the vein of BudgetAreSexy.com by J-Money, I figured it is time to start tracking my net worth monthly so that people can follow the breadcrumbs, dissect, analyze or even hold me accountable for my numbers.

Table of Contents

This is the start of a beautiful thing

This year started out normal but by mid-February, the pandemic shifted everyone’s plans. My fiancée and I were thankfully employed and other than working from home, unaffected. We did get a puppy but it didn’t work out but we did find him a better home.

Since this is the first installment, I’ll briefly recap 2019, review 2020, and cover the ongoing format. Don’t worry it will be brief synopsis and an ongoing series. The biggest questions that you will see every month:

Discussing what went well,
Reviewing what didn’t go so well, and
Acknowledging what I need to work toward.

Red parts are massive negative changes and the **green will reflect positive changes**.

2019 flashback

2019 was generally a good year. The biggest change was getting engaged. The process was costly, just as a general alert for the person proposing. Money will start evaporating into the ether for love.

We also traveled to “12 countries in 14 days” and spent some time in Canada during the Toronto Raptors NBA Finals victory. I really recommend a trip if you live in the NE of the US, slide by Vermont if you can, and look up Niagara-on-the-lake.

Setting Writing Goals

I was able to write and publish over 66 articles on LinkedIn and started crafting a plan for a website, podcast, and YouTube. My fiancée was able to upgrade her job by putting in a ton of work to add an accreditation. She earned a new job shortly after. If you can’t cut any more expenses; consider adding more income.

By the end of the year, the Fiancée and I started the process of commingling finances to tackle 2020.

Our cash reserves dwindled a bit and our collective credit card debt increased by 35%. Our investments grew by 40% and overall this ended up being a net increase of almost 51%.

Net Worth Increase North of 50%

Mid-2020 Summary

2020 was a hard pivot. The first couple of months were well enough but we took a sharp dive into the Hunger Games Territory.

Though we didn’t want to, we were forced to cancel our may 5 countries travel plan that would have taken us to Switzerland, Austria, Italy, Germany, and Portugal. We adopted a dog and paid for his upbringing for 2 months to the tune of $2,500 from food, toys, and shots. It was not cheap and they don’t tell you about that part.

Beyond that, we cut back on gym and travel costs but increased food costs. There was nothing but green on image #2 since we didn’t panic and stayed consistent. Additionally, we didn’t buy the dip because we technically have been paying for the wedding in November. If we didn’t fork over about $15,000 of wedding expenses, we would have invested it.

My Fiancée hit a milestone. She became completely debt-free by her 30^th birthday. Our cash reserves increased by almost 20%, and credit card debt decreased by 12%. Our other liability which is my TSP loan decreased by 35%. Not too shabby a net worth increase of 18%.

1. Did Anything Go Well?

Lifestyle changes. The pandemic forced all these micro expenses and stressors to decrease overall. There was no mandate to go do anything because nothing was available. We were able to spend more quality time together.

Mindset. Entered into a period of intentional thankfulness. I challenged myself to understand investments more. And really strive to create a wedding that focuses on substance over material flaunting.

2. What didn’t go so well this year?

Physical activity. Though I have spurts of super activity. I’m going back and forth with laziness. I was never a fan of working from home. Still, not a fan since the change of scenery helps me.

Staying in touch with friends and family. Been drifting into the world of purposeful living, and it’s forcing me to reevaluate friendships. If time is happiness, I don’t think I want to waste any more of it being idle. For that, some people had to go so that I could move more quickly.

Time management. I have terrible time management and need to work on completing all of my assignments and then some. I also need to work on my time attitude since I have to understand that everyone doesn’t value their time the same way.

3. What are you working toward?

Got to be more purposeful. My goals for the remainder of the year include:

Establishing systems and processes. In order to get more done, I’m going to have to be regimented and excited. I will also need to play and rest accordingly.
Creativity and dollar conversions. Working on better IG posts, the website with articles, and maybe a few workshops that I can use for passive income.
Wedding Planning. Definitely need to do my part and get going because November is coming.
Working on investing at least $10,000 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 $10 for $10 referral if you need it – https://m1.finance/SYdqDJ2SyADC.

Last Rounds

I’m learning, failing, and getting back up. Then, I’m failing again and grew. There is truly nothing new under the sun vs just people trying to get better. I’m learning to get better and trust the Net Max Financial Plan for Couples. It’s working for my household. Now I need to work on myself.

Check out July 2020

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