I’m bringing you another monthly net worth update, happy May!
A few things happened this month that make the numbers seem weird. I was able to automatically sync a bank account to my Personal Capital account for the first time which threw the net worth number on Personal Capital for a few days. The May 1st number on the website incorrectly shows a temporary spike up to about $195,500 in net worth – which is a timing issue and not correct, which is why I’m using the May 3rd number.
Another thing going on is I’m getting married soon! We’re currently in the process of planning for and co-spending on wedding costs. We’re not looking for a crazy cheap wedding, or an extravagant wedding but something more in the middle. Wedding band costs, wedding venue costs, and a few other costs for wedding things are starting to add up, so I actually spent more than I made this month for the first time I can remember. Some people are extreme with cost-cutting on the way to Financial Independence, but I am not that person. I tend to try to earn more instead and see value in reasonable purchases that bring me joy.
The casualty for the month is – I now have credit card debt (GASP!!). I opened a 0% APR credit card with a sign-up bonus in anticipation of spending for the wedding, so I can carry a larger balance on the card if needed. I do still plan to get rid of the debt next month though – my bonus from work hits next month and is a pretty substantial percentage of my salary. I’ll be able to use this to cover my short term debt.
All of this to say – my net worth actually went up in spite of being in the red in costs this month because of gains in the stock market. Crypto is down a bit this month, even though I contributed a bit over $200. Here’s a breakdown of my net worth in May:
May 2021 Net Worth: $183,791 (+$2,541)
- Cash: $14,436.93 (-$1,611)
- Checking Account: $2,468.34
- High-Yield Savings Account: $11,942.10
- Investments: $157,080.64 (+$7,576.57)
- Work 401(k): $81,548.75
- Roth IRA: $51,665.02
- HSA: $16,926.44
- Taxable Brokerage Accounts: $6,940.43
- Cryptocurrency: $15,687.49 (-$29.69)
- Bitcoin: $15,379.04
- Ether: $308.45
- Debt: $3,412.96
- Credit Card Debt: $3,412.96