Net Worth Report #15, October 2018

Welcome to the fifteenth net worth report here at NMI!

If you’ve been paying any attention to the stock market (or Twitter), you’d know that being a stock holder in October kinda sucked.  It was the biggest market drop since September 2011, and the S&P 500 lost almost 7% in value.

It was also my first time taking such a beating in the market since I’ve been investing.

 

 

 

No doubt about it, my accounts took a pretty big hit as well.

Fortunately, I had another decent month on Etsy and an even greater month with my furniture flipping side hustle to help keep me from being too deep in the red.

This is actually the most I’ve ever made in a month.  Ever.  In my life!

Let’s get into the details!

 

For those new to my net worth reports, I’d like to give you a few minor details. I get paid semi-monthly, which means I get paid on the 15th and the last day of the month. 

Sometimes my money isn’t made available to me until two or three days after the month has already changed, so in order to ensure the most accurate net worth reports, I will always include both incomes.  As such, my reports will be made available on the third or fourth day of the following month, possibly a few days after. 

In rare circumstances in which I fail to get paid on time, I will either wait until that money is made available to report or I will include it in the following month’s net worth report.

You can find the latest and/or past reports here.

These figures are accurate as of the end of the day, November 6th.

 

MY INCOME

 

JOB INCOME

October was a crazy month for us.  I feel like the economy must be doing well, because we haven’t been this busy in quite some time.  I got paid on time this month.

 

 

SIDE INCOME

For the seventh month since doing these reports I have some additional side income to report!

My Etsy store sold $81.74 worth of merchandise in October.

I also received a check for $513.00 for all of my recently sold items at the consignment store!

Here are all of the items that sold, and what they sold for:

 

 

 

 

 

 

 

 

 

And here’s the proof it happened!

 

 

I also sold this cherry desk for $175 cold hard cash!

 

 

 

What a fantastic month.

Find something you’re good at, a situation you naturally benefit from or a talent you posses, and use it to make money! 

Me?  I know furniture, I work at a store that lets me sell it and I’m good at picking things out, touching them up, pricing and marketing them, etc.

If I can successfully implement a couple sources of income on the side, anyone can.

 

 

TOTAL INCOME

 

 

MY ASSETS

 

SAVINGS

My assets changed quite a bit this month.  I decided to pay off another huge chunk of debt, taking almost $3,500.00 out of my savings to do it.

 

INVESTMENTS

My investments also took quite a hit, as you can see below.   Down 6.57% in one month – also known as over $3,000.00.  Ouch.

Meanwhile, while cryptos are still down, they didn’t really change much this month.  Whoopey.

 

 

Remember, when it comes to cryptos, never part with more money than you’re willing to lose!  I’ve learned that the hard way!

Here’s a link to my article on cryptocurrency that every beginner should check out before jumping in.

*I decided to try an experiment in which I purchased 43 different cryptocurrencies (worth about $900.00 total) in the beginning of 2018 with the intent of holding onto them for one full year.  You can check out the initial post here.  I will be posting updates to that portfolio around the 15th of each month.

 

 

MY LIABILITIES

 

 

Yes!

I’m finally starting to reverse that debt!

While I still have a pretty big chunk to pay down, the fact that I’ve shaved off almost half since its highest point (+ $10,000.00) has me super happy.

The fact that most of my balance is still on a 0% interest credit card until next year gives me a little breathing room.  My main focus now is to save a little, keep paying that debt, and relying on cash to keep my expenses down.  If I could pay this debt off in six months and have no credit card debt, that would be fantastic.

I really recommend automating all of your bills, especially if they allow you to pay with a credit card.  You set it up once and you don’t have to worry again.  The only ones I don’t automate are accounts that need a checking account – you want to be sure the money is in there before it gets debited.

 

 

MY NET WORTH

 

 

An decrease of – $1,873.40!

 

Boo.

While I’m certainly not happy with such a large drop in net worth, it could have been much worse.  Overall, the extra income I made this month helped cushion the fall, and for that, I am grateful.

 

 

CONCLUSION

 

And that wraps up another net worth report here at NMI!

The end of the year is fast approaching.  Christmas is right around the corner, and then New Years.  Gah!  I’m not ready for it!

How’s the end of your 2018 going?

 

 

          – NMI