October, 2015 Net Worth: $86,973

Assets

Cash

• Cash/ Savings/ Checking: $41,444
• Certificates of Deposit: $9,540

Personal Investments

• Brokerage Account #1: $23,108
• Brokerage Account #2: $10,398
• Savings Bonds: $2,710

Retirement Accounts

• Roth IRA: $8,063
• 401k: $0

Other

• Vehicle: $1,000

Liabilities

Unsecured Debt

• Credit Cards: $130
• Student Loans: $9,160

The post Update: October 2015, Net Worth “Destination Financial Independence” appeared first on Drunk on Moolah.

July, 2015 Net Worth: $77,346 (+$2,424)

I did a little better this month compared to last month. The reason for the increase is has a lot to do with the recovery of my brokerage and retirement accounts. Back in June, the stock market was down which in turn lead to a decrease in both my brokerage and retirement accounts. Luckily, they recovered in July.

Assets

Cash

Cash / Savings: $46,580 (+$1,402)

My cash savings is up $1,402. The increase is from money I earned from my job primarily.

Certificates of Deposit: $9,526 (+$14)

I received $14 in dividends in July.

Investments

Stocks (Brokerage Account): $22,224 (+$523)

The value of my brokerage account increased by $523. This was due to an increase in the market.

Bonds: $2,710 (+$0.00)

One of these days I’ll go on the treasuries website and update the value of these.

Retirement

IRA Account: $8,084 (+143)

The stock market increased, creating an increase in my IRA account.

Personal

Automobile: $1,000 (+$0.00)

I don’t believe this amount will change anytime soon.

Liabilities

Debt

• Credit Cards: $442 (+$90)
• Student Loans: 12,276 (-$433)

The post DESTINATION FINANCIAL INDEPENDENTS: JULY 2015, NET WORTH appeared first on Drunk on Moolah.

June, 2015 Net Worth: $74,922 (+$100)

My net worth was only up $100 from last month. The reason for such a small increase is primarily because of the decrease in the stock market, causing a large decrease in my brokerage accounts and IRA account.

Assets

Cash

Cash / Savings: $45,178 (+$1,078)

My cash savings is up $1,078. This increase is from income I received from my job and money I received from items I sold at a garage sale.

Certificates of Deposit: $9,512 (+0.00)

I did not receive any dividends from my CD, so this amount remained the same from last month.

Investments

Stocks (Brokerage Account): $21,701 (-$804)

My brokerage account is down $804 this month. This decrease was caused by a decrease in the stock market causing some of the shares I own to decrease in value.

Bonds: $2,710 (+$0.00)

I left this amount the same as last month. Although in reality this amount probably has slightly increased, all my savings bonds are in the form of paper. To find out the actual amount would require me to individually type each one in at the Treasury Direct website, which in other words is very time-consuming and I was lazy.

Retirement

IRA Account: $7,941 (-$166)

It always hurts to see a decrease in an account but I have no control over the stock market.

Personal

Automobile: $1,000 (+$0.00)

My awesome car! This value probably won’t change too much within the next couple of months.

Liabilities

Debt

Credit Cards: $352 (+$14)

For first time readers, I pay off my credit card in full every month. So in June, I spent $352 on my credit card, $14 more than last month.

Student Loans: $12,709 (-$7)

I only put $80 towards my student loans this month and with the interest they’ve accumulated this month, the total amount is only $7 less than last month (kinda depressing to think about).

The post DESTINATION FINANCIAL INDEPENDENTS: June 2015, NET WORTH appeared first on Drunk on Moolah.

Here it is, my very first post for this blog! One of the reasons I created this site was to document my net worth every month. I figured by documenting this every month for the whole world to see I will hold myself more accountable for how I save and spend my money. My other intention, is the hopes that my net worth will increase each month and inspire others that they too can reach their financial goals.

I’ve never been a big fan of having to wake up and go to work everyday or having to rely on a job to pay the bills and survive. I recently graduated college this past December, and within the last month started my first full-time job and lets just say I don’t jump out of bed every morning excited about going to work. This encourages me to save more of what I earn so I can someday become financially independent.

So here are the numbers for May…

My net worth this month was $74,822. This is the first time I’ve ever added up all of my assets and liabilities and I was actually surprised to see the net worth as high as it is.

Here’s how I came to this number…

Assets

Cash

Cash/Savings: $44,100

This is high for me. Normally I would have more invested in something with a higher yield, but because I’m saving to eventually buy a house and possibly a newer vehicle in the near future, I have a lot of my assets in cash.

Certificate of Deposit: $9,512

I opened this CD a little over a year ago and it matures in August. I’ll probably move this into higher yielding CD at maturity considering interest rates are a little better now than they were when I opened this.

Investments

Stocks (Brokerage Account): $22,505

My brokerage account consists of individual stocks that I’ve picked myself. I’ve always enjoyed researching and buying shares of publicly traded companies.

Bonds: $2,710

All my bonds are Series EE Savings Bonds.

Retirement

IRA Account: $8,107

My IRA consists of a mix of bond and stock index funds. Now that I’ve graduate college and will be able to work full time, I plan on contributing the max contributions to this every year.

Personal

Automobile: $1000

My car, a beater, is actually valued on KBB at $1,650 but if I had to sell in I really don’t think I could get more than a $1000 for it. I’ve had this car for awhile (since I was 16) and hopefully it’ll last me for awhile longer.

Liabilities

Debt

Credit Cards: $338

This month I racked up $338 on my cards. I pay these off in full every month, I only use credit cards for the rewards I receive from them.

Student Loans: $12,716

I’ve been trying to hammer away at these. When I first graduated college this past December, I had over $17,000 in outstanding student loans. The interest rates are pretty low, the highest one at 4.5%.

I got my first part-time job when I was 16 and since that time I’ve been trying to save as much money as I could. Until this past December I’ve always been a full-time student and believe it or not have never made more than $14,000 a year.

The numbers above are real and they prove that it’s possible to save money no matter how small your salary is. If you can manage to save a portion of each pay check and make smart investment moves you too can be on your way to financial independents.

The post Destination Financial Independents: May 2015, Net Worth appeared first on Drunk on Moolah.