October 2019 Net Worth

Recap:

The most noticeable change this month is the decision to remove our personal vehicles out of the net worth. I was always up in the air about including them but I figured they are valuable and add to my current net worth. The problem was KBB value fluctuates too much and the constant change in value was compromising the overall percentages of this monthly report. So as much as I want my Net Worth to be as high as possible, I care more about the accuracy of this report. October was a pretty standard month. My income was reduced a little for the time off from having our baby girl but other than that everything stayed the course. We currently have our rental property under contract but I won’t be excited until it actually closes. If we close in December, that will add a nice little increase to our Net Worth but we are currently looking for another rental so Im sure the proceeds would just go to the new house.

ASSETS:

House Market Value – (+0) – As expected, no change!

Rental #1 – ($0) – $80,000 Currently under agreement! Lets hope for the best!

Profit Sharing – ($1,660.90) – Market increase – Keep climbing baby!

Employer Stock – (+0) – This probably won’t be updated until the end of the year.

Checking/Savings – (-$4,598.86) – Combination of having a baby and taking 2 weeks off definitely has this number down. Family is the one thing I will never compromise for money. I will fully take advanatge of being my own boss and taking the time necessary to be home for them.

Money Market – ($129.39) – It has been decided that we will be using this money for our next rental. The ability to have money saved away is allowing us to take advanatage of a slow real estate market. In Pittsburgh, the market really slows down once everyone goes back to school, so I am fully expecting to be able to jump on a good deal within the Winter months.

Emergency Fund – (+0) – No Emergency = No Change! Thank you God!

LIABILITIES:

Primary Mortgage – (+1218.97) – 178 more payments to go!

Rental #1 Mortgage – (+64.33) – Principal pay down! Hopefully only two more payments go to this house!

Excess Spending (Budget Overage) – (-$1,270) – I am very happy to keep this number anywhere under $2,000. Although looking back through my expenses, the common trend is definitely going out to eat and alcohol! If we could give up drinking, we would be millionaires way sooner!!! But where is the fun in that?!

MONTHLY NET CHANGE: -$2,808.57

MONTHLY EXCESS SPENDING:-$1,270