I’ve just finished calculating all my expenses for the month of August, so it’s now time to publish another net worth update. This is one of my favorite things to do, as I love tracking the progress that I’m making and seeing how the numbers are doing. It doesn’t hurt that the market has been extremely friendly to investors lately, but as long as I’m making progress I’m happy with the way things are going. I hope everyone else also had a productive August, and hopefully were able to even squeeze in a vacation in there. But you’re probably reading this to see the numbers, so let’s get right into the data now!
We’re coming in on the home stretch of Summer, so I hope you have all been able to enjoy these past few months of warm weather. I’ve had excellent progress thanks to the market, so even with higher spending on vacation progress has still been in the right direction. I’ve also added a new account this past month, a HSA account. My company automatically puts in $100, than another $50 for getting a physical, and $300 if you complete an online assessment along with the physical and blood work. I’m hoping that I’ll be able to get that $300 bonus either this month or next. I have it set up that my contributions will max the account out, and once I have a balance of $3000 I’ll be able to choose where to invest it.
Happy early Fourth of July to anyone reading in the United States! It’s time for my June net worth update, and I was hoping for a good one even with some high spending this month. I recently returned from vacation, but did have a few targets in mind for where I wanted to be financially. It also helped that I found an error (in my favor) when calculating my net worth, which gives me an artificial boost for this month. Spending was high, but the results from that won’t really show up until July at this point. I also did some gift card buying and selling. That temporarily inflates my spending numbers, but should average out over time when I “spend” the money that I already have.
I had recently been looking for new bank accounts as my current bank (Santander) had stopped offering their bonus checking account and they also were no longer offering the high yield savings account that I had (the interest rate was a whopping 1%, but still better than most places). I stumbled upon a TD Bank sign up bonus where if you had a direct deposit of over $2500, you would get a bonus of $300 in your account. There were also no fees as long as you kept a minimum balance of $2500, so it seemed like the perfect time to open a new account. Checks were free with this account and the online interface seemed easy enough to use, and they did have a bill pay service.
Summer is almost here, I hope that everyone reading here in the US is enjoying the weather as it warms up! I know that the Summer months usually bring higher spending for me, but I’ll be looking to control that wherever possible and continue to grow my net worth, even if it is at a slower pace compared to usual. I know that my goal is to hit a six figure net worth as soon as possible, and every little bit brings me closer to my next goal.