Net Worth Report #18, January 2019

Welcome to the eighteenth net worth report here at NMI!

2019 is already zooming by, and I feel like I have so much to do!

Whether it’s working for my client, tending to one of my side hustles or occasionally working on my own blog, I seem to be pulled in a million different directions at once.

I was so busy that I didn’t even have time to reflect on the huge rebound the stock market had in January.

 

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, February 10th.

 

 

MY INCOME

JOB INCOME

January was actually another great month for us.  Because the new year turned, my paychecks went back up to their regular amounts, before the additional city tax gets taken out.

 

 

SIDE INCOME

For the ninth month since doing these reports I have some additional side income to report!  My income stream continues to be diverse, as I made money from three different sources this month (not including my main job).

 

ETSY

My Etsy store sold $59.94 worth of merchandise in January, both from the same customer.  I guess they liked it  😛

This time of year is when I imagine orders slow down a little bit.  My store wasn’t around last January, so I wouldn’t know.  I guess we’ll find out next month!

 

FREELANCE

I had another great month of work with my freelance client doing copy editing.  Freelancing works pretty well with my lifestyle right now, so I’m appreciative of the work when I can get it.  So far I’m averaging about 20 hours a month.

I’m also excited for the future because it seems my client has some plans in store to grow his own blog, which means good things for him, and more work for me.

 

 

EBAY

The world is seemingly fascinated right now with Marie Kondo, a Japanese organizing consultant and author.  To give you a brief overview, she specializes in helping people tidy up their homes, and ultimately, their lives, by recommending people only keep items that “spark joy”.

I watched a few episodes of her series on Netflix and decided to do the same in my life – but with the intention of making a little money 😉

I went through my entire bedroom closet and took out anything I knew I wouldn’t want and that had some value.

I’ve had a lot of junk just collecting dust, for years, with me knowing I’m never going to use them again (or in some cases, for the first time).

I hauled it all out, sorted it, and even took a round of pictures for the first twelve items to get things going.

Because I had so much beginner’s luck selling some collectibles on eBay last month, I figured I’d use it again.  I’ve tried to sell things on Amazon, but it just doesn’t seem to work as well for me.

I guess I’m just lucky because I sold another $288.86 worth of stuff!

I’m as surprised as you, really.

Here’s what I sold and what they sold for!

 

Overall, the merchandise sold for $288.86 total.  Less eBay’s fees, which I figure I should keep track of, and I made $250.94.

 

CONSIGNMENT STORE

Surprisingly, I only had one sale of my own stuff during the month of January – two side chairs for $100 each.  I couldn’t find a photo, but they looked a lot like this:

 

 

I didn’t get paid for them yet though, hopefully I will in February.  I’m hoping I’ll sell more inventory by then as well.

 

 

TOTAL INCOME

 

 

MY ASSETS

 

SAVINGS

I’m really trying to save as much money as possible.  One of the easiest ways to do that is by paying yourself first, which I kind of have a problem doing, considering I have credit card debt that needs destroyed 😉

 

INVESTMENTS

Oh happy day.

I am so happy and pleasantly surprised by this rebound we had in January.

The past couple months have been down for almost all of my investments.  It’s nice to see some green on the board.  It seems as if some of crypto has rebounded a little bit as well.

 

 

Remember, when it comes to crypto, 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

 

 

I got my Christmas gifts paid off in January, so that was good.  I put a decent bit of debt back on my card though, as I bought a course to help me make some more money on the side that I hope to explain more in a future post.

I also bought some more furniture to sell at the consignment store.  I don’t always like doing it, but I try to look at it as an investment.

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 INCREASE of + $3,191.62!

 

Dang.  That’s a pretty sizeable increase.  Increasing my income while not succumbing to lifestyle creep has been really good for my finances.  I really wish things could go this well every month.

 

 

CONCLUSION

 

And that wraps up the first net worth report of the New Year!

How is your 2019 going so far?

 

          – NMI