Net Worth Update – October 2022

October has turned things around in the end, with my finances ending the month on the positive side of things once again. Spending was a little higher this month from vacation and unfortunately repairing a leak in the house. Luckily it turned out the leak was directly where the water was, so it didn’t turn into anything major.

October Liquid Net Worth:

Spending was high this month due to vacation expenses as stated earlier, but overall it came out to be a solid month. All my other account balances went in the right direction.

October Total Net Worth:

There’s a drop in my cash accounts and a slight decrease in my home value estimate, but this month was back on the positive side of things.

So let’s see how far my assets would take me at this point. I will calculate that using my average spending over the last 12 months. I’ll multiply that result by 12 months to get the total spending for the year, and then divide my liquid net worth by that amount. That’s how long I’d be able to live off my savings at that point in time.

$3679 average spending last 12 Months * 12 Months = $44,148 spending in a year

$293,882 net worth / $44,148 spending per year = 6.7 years’ worth of spending

Photo by Christoph Nolte on Unsplash

Leave a Reply

Your email address will not be published. Required fields are marked *