October Financial Update

Tracking your net worth allows for a full picture of your finances. It gives a complete understanding of assets across all classes, as well as liabilities or expenses that you are indebted to. Without knowing what this picture looks like, it wouldn’t be possible to accurately strategize financial moves or create short and long term goals.

This post will describe my family’s assets and liabilities, the changes that have occurred in the last month, and why.

Assets

Cash Accounts

End of September: $9,489
End of October: $5,401

Changes: Paychecks; rental income; paying mortgages, credit cards, utilities; accelerating debt payoff; investing

401k (Index funds)

End of September: $493,441
End of October: $473,748

Changes: employer contribution, paycheck contribution, and personal loan payback totaling $13,880; market fluctuation

IRAs (Index funds and Mutual funds)

End of September: $159,622
End of October: $151,148

Changes: $965 contribution; market fluctuation

Taxable investments (Mutual funds and individual stocks)

End of September: $102,435
End of October: $98,800

Changes: $96 dividends; market fluctuation

Personal Residence

End of September: $389,089
End of October: $389,804

Real Estate Investment Properties

End of September: $1,068,957
End of October: $1,074,345

Changes: 10 investment properties’ market value fluctuations

Note: 2 vehicles owned outright

Liabilities

Real Estate Investment Mortgages

End of September: $628,379
End of October: $626,739

Changes: mortgage paydown

Personal Residence Mortgage

End of September: $269,495
End of October: $268,844

Credit Cards

End of September: $9,706
End of October: $9,236

Changes: $1,100 payment on 0% card balance; $861 payments on all other credit card statements.

Spending:

  • Grocery – $342
  • Restaurants -$174
  • Online Purchases – $75
  • Clothing – $76
  • Gas – $99
  • Travel – $234
  • Business expenses – $375
  • Cable/Internet – $55
  • Miscellaneous – $122

Summary

The stock market was not kind to us this month, but that just means we bought more shares on sale when we made our contributions! Our goal over the next few months is to pay off the rest of our 0% credit card and the remaining obligation of Mrs. ODA’s 401k loan.

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