Net Worth Update | September 2019 | $243,281

September was an exciting month for my finances! I received my annual bonus and a raise from my employer. Check out Career & Salary to see my new salary. I turned 26 last month. I was previously on my parent’s health insurance plan and was required to purchase my own starting September. I received $1,184 in dividends, which were reinvested back into the stock market.

I didn’t save as much as I had hoped, but I’m not upset about it. Quite a bit of giving opportunities presented themselves and I was happy to help monetarily. Although I don’t follow Dave Ramsey’s principles, I do believe in giving generously.

Next month, I have set a stretch goal for myself of reaching a net worth of $250,000. This will be achievable if the market does well, combined with my increased salary and receiving my mystery shopping payments. I received a couple questions about mystery shopping, which I plan to do a blog post about this. It’s a great way to make additional income, but the payments from mystery shopping are typically paid a month to two months later.

Before I jump into my net worth, I thought it would be fun to share one way I saved money, one way I invested for my future and one purchase I regret from September. I hope this will give you ideas on how you can save money and invest in your future.

Saving Money

In late August, I started transitioning my dog’s food from puppy food to adult food. His puppy food was chicken-based and I decided to change it salmon. I figured it would be better for his joints and overall health. Welp, it didn’t work out. He barely ate the salmon-based adult food and his booty was a bit smelly. I contacted Pet Flow, where I purchase most of my dog’s food and supplies, and they kindly credited my account $68, the cost of the salmon-based dog food. I used the credit to purchase his chicken-based adult food and still have $15 credit to use on my next purchase. My wallet is happier since chicken-based food costs less than salmon-based food and my dog is loving every bite of his food.

Investing in my Future

This month I spent $177 at Best Bully Sticks on a pack of 50 bully sticks. This will help keep my dog entertained while I study for my CPA exams these next couple of months. If you have any tips or tricks on how to keep your puppy preoccupied as you study or work, please let me know!

Regretful Spending

I was charged an $18 bank maintenance fee by letting one of my checking account’s balance fall below $5,000. I hated myself for this and couldn’t get it out of my head for a week. I asked the local bank if they could waive the maintenance fee and was surprised when they said no. I no longer use that bank and now only have one checking account. For those that have accounts at local banks, have they been willing to waive fees for you?

I use a combination of Excel and Personal Capital to track my net worth and financial accounts.

Cash: $89,934 (+2,818)

This was lower than August and will continue to be slightly lower the next three months as I contribute to my health savings account.

I have a large portion of my net worth in cash for when I purchase my first home (hopefully before the year ends). A significant portion of this amount will go towards a 20% down payment and furnishing my house. Don’t worry; it is in a high yield savings account.

Brokerage: $43,982 (-367)

Although I contributed $650 this month to purchase more stocks in October, this was offset by the decline in Disney’s stock.

In my brokerage accounts, I invest in a mix of individual dividend paying companies and growth stocks.

Roth IRA: $60,247 (+1,710)

This increase is primarily related to Boeing’s market performance and their dividend payout.

In my Roth IRA accounts, I invest in a mix of individual dividend paying companies and ETFs.

401(k): $45,564 (+1,683)

My 401(k) contributions and employer match were larger than prior months as a result the bonus I received from my employer. I also received $852 in dividends. All of this was partially offset by the market decline of the two growth index funds.

I contribute 30% of each paycheck to my 401(k) and my employer matches a portion of what I contribute. The contributions are automatically invested in the following index funds:
- 25% Blue Chip Growth Index Fund
- 25% Large Growth Index Fund
- 50% S&P 500 Index Fund

Pension: $3,116 (+10)

My employer contributes $10 every month to my pension.

HSA: $438 (+438)

I chose a high deductible health insurance plan, which allows me to have a health savings account (HSA) through my employer. I plan to contribute the maximum amount allowed for 2019, which is $3,500 of pre-tax income for an individual. In September, I contributed $438 directly from my paycheck, leaving $3,062 to be deducted from my paychecks these next three months. My employer does not contribute to my HSA, only I do. My brokerage firm charges a quarterly fee of $18 to maintain my HSA. I try to not pay any fees, but this one is unavoidable.   

100% of the contributions are automatically invested in a S&P 500 Index Fund. Unless a medical emergency occurs and my personal savings are depleted, I will not withdraw from this account and will let my contributions grow. I will be saving my receipts for qualified expenses and request reimbursement when I retire.  

How was your September?

I would love to hear how your month went and what goals you have set for October! If you have a financial blog, please let me know below. I would love to read about your September.

I welcome feedback and suggestions!