Time for another net worth update!
On Net Worth Update #7 for October, I had a net worth of $19,245.46. That was a month of redemption for me since taking quite a big hit on my net worth’s growth back in September. I really didn’t expect that my investment’s values would grow that month, contributing heavily to the net worth increase.
November has been an interesting month for me because I did quite a lot of moves regarding my crypto investments, and at the same time, my spending grew a bit due to some specific purchases.
This is the 8th update in my series, so let’s look how far I’ve grown my net worth in November!
All numbers here are logged in as of November 30 at 5pm. As always, to make things simpler in my blog, I’m going to do bullet points and quick summaries so that there’s no need to read.
My Assets (Cash & Savings)
CASH Details: I have 3 accounts that I consider my checkings account.
| Checkings | Bank Name | Amount |
|---|---|---|
| Account #1 | Wells Fargo | $208.00 |
| Account #2 | Chase | $2,044.58 |
| Account #3 | PayPal | $1,193.50 |
SAVINGS Details: I have 4 High-Yield Savings Accounts.
| Savings | Bank Name | Amount |
|---|---|---|
| Tax Purposes | Ally Bank | $11,284.98 |
| Personal Savings #1 | Ally Bank | $3,152.07 |
| Personal Savings #2 | Yotta | $2,805.20 |
| Personal Savings #3 | WealthFront | $501.18 |
SUMMARY:
I still have the same 3 accounts that I consider as my checking account: Wells Fargo, Chase and PayPal.
My Wells Fargo account has declined by half since last month since I have been paying off my debts more often. That gives you an idea that I have been making some purchases lately, especially the recent Black Friday and Cyber Monday.
I recently bought two upgrades to my work desk set up: a laptop stand and the Logitech G915 Wireless Mechanical Keyboard. I’ve always wanted to upgrade my set up to be more productive and look aesthetic. I’m trying my best to achieve that and I’m planning to fix my desk in the following days. So I may or may not be purchasing more upgrades soon. We’ll see…
As for my Chase account, there is some decent growth. It would’ve been bigger if I hadn’t been putting extra money from this account to my savings, which I will explain later on. I actually think this would’ve been lower if I had started paying the balances on my Chase credit card, but this is the amount right now.
For PayPal, there’s small growth because it’s the same with my Chase. I’ve been looking for extra to funnel into my savings account.
My savings have seen a big boost recently, aside from the usual amount I set aside for tax purposes. Like I mentioned earlier, I’ve been funneling extra money laying around on my Chase and PayPal account into my savings, specifically in Yotta.
This month, I will hit my $6,000 savings goal. That is another goal that I will cross off my list before the year ends. I put $100 each on both my personal savings accounts, so when the goal is achieved, I will free up $200.
I was thinking of using the money on my WealthFront account since one of the buckets there was meant for PC upgrades. But I thought to myself that instead of making it as a personal purchase, I would consider it as a business expense instead.
I’ll most likely use that money for something else now. But it’s good to know that I have that money in case something needs to be purchased any time soon.
My Assets (Investments)
INVESTMENT Details: I have 6 investment accounts: 3 money market accounts & 3 cryptocurrency accounts. I have added multiple crypto yield farms to monitor.
| Platform | Type | Amount |
|---|---|---|
| WeBull | Stock | $7,398.97 |
| TDAmeritrade | Roth IRA/Stock | $1,524.48 |
| Public | Stock | $106.74 |
| Coinbase | Cryptocurrency | – |
| KuCoin | Cryptocurrency | $333.36 |
| Wallets | Cryptocurrency | $125.34 |
| BlockFi | CeFi / Interest Accounts | $581.78 |
| Cake DeFi | DeFi / Yield Farms | $490.99 |
| Secret Project #1 | DeFi / Yield Farms | $235.34 |
| Secret Project #2 | DeFi / Yield Farms | $403.02 |
| Secret Project #3 | DeFi / Yield Farms | $209.79 |
| Secret Project #4 | DeFi / Yield Farms | $185.01 |
SUMMARY:
Stocks — I’m not surprised that all my stock portfolios are down for the month. There is just so much fear in the market right now that people are panic selling their stocks. Since I’m a long-term holder for the most part, I try to distance myself from the price actions because it’s just going to stress me out.
I’m going to just keep adding more to my positions and maybe rebalance if I have to. But overall, despite my portfolios’ bad performances this month, I feel good about it. I still receive dividends and that’s what I’m grateful for.
If you’re ever interested in investing in stocks, WeBull and Public are great platforms to start with because they give you signup bonuses. So make sure to check out WeBull for 2 free stocks and Public for a free stock worth $50 or more!
Cryptocurrency — November was a just a crazy month of crypto experiments for me. I tried out 4 different yield farming projects, and I have yet to reveal their names because I want to share those in another article.
I found multiple projects that looks promising to me, so I decided to finally try them out. And I have other projects too that I’ve put in my watchlist.
It’s a profitable time right now to be in crypto, but that doesn’t mean it doesn’t come with risks. I’ve seen a lot of people jumping into different projects only to see their money lose after a rug pull. So even if I want to jump in on something, I just take my time in observing it, doing some research and see if a certain project can actually make me money long-term.
If I really want to jump in on a project and I don’t care much about doing research, I do that knowing that the money I’m putting in can lose value and it’s something that I’m comfortable losing. So some projects, I put $200 if I’m not sure. Or I put upwards of $350 if I’m mostly sure about it.
Stay tuned on my upcoming articles regarding the results of my yield farming experiments!
Total Assets & My Comments
My total assets for November is $32,784.32, an increase of $1,861.82 — a 6.02% increase from last month, October.
While my assets didn’t grow as big as last month, this is still good news to me because it’s growing despite the market turbulence and extra purchases for November.
One thing that I’m observing right now is that my investments are in this state of value limbo. Meaning, even though I’m consistent in contributing monthly, the value doesn’t seem to grow much. It’s being offset by price depreciation. And this is true for both my stock and cryptocurrency portfolios.
My crypto portfolio right now is a portfolio that’s more focused on generating passive income from yield farming rather than holding coins and rely on price. While I may be enjoying passive income and price appreciation from what I’m doing, it doesn’t have a big impact yet because I’m spread quite thin.
I could 10X my money by holding promising coins but to me, it feels like that would only work if I put a lot of money into it. That’s something I’m thinking about for next year, but for now, I’m focused on generating my passive income streams in crypto.
I’m not going to comment more about this because there’s just too much research that need to be done on my part. But the point is, my investments will be in this state for a while if both markets don’t recover.
And because of that, my more liquid assets will definitely get farther ahead because their values don’t change as much compared to my investments. I’m learning that, in regards to my net worth, the more cash I hold, the bigger my buffer becomes in case both markets are bearish.
| COMPARISON | October | November |
|---|---|---|
| Total Assets | $30,922.50 | $32,784.32 |
| Assets Change ($) | $3,087.90 | $1,861.82 |
| Assets Change (%) | 11.09% | 6.02% |
My Liabilities (Credit Cards)
CREDIT CARDS Details: I have 3 credit cards.
| Issuer | Credit Card | Amount |
|---|---|---|
| Discover | Discover It | $19.44 |
| Chase | Chase Freedom Unlimited | $1,425.55 |
SUMMARY:
I still own the same 3 credit cards: Wells Fargo, Discover and Chase. While I don’t use my Wells Fargo Platinum card at all, I keep it open because for my credit score and since it doesn’t have annual fees.
Discover has that subscription of $14. And the extra is a purchase I did because of a category spend. I had to use Discover for that.
Chase grew because I have been using it to buy everything else. And the main problem with this is that I still hadn’t made the payments on my previous purchases.
Luckily, I don’t accrue interest yet on this card. But this is an irresponsible thing for me though. I should be making payments this month to those purchases and get them out of the way.
My Liabilities (Student Loans)
STUDENT LOANS Details: I have 3 federal student loan accounts.
| Servicer | Type | Amount |
|---|---|---|
| EdFinancial A | Federal | $5,344.78 |
| EdFinancial B | Federal | $517.45 |
| EdFinancial C | Federal | $3,566.68 |
SUMMARY:
I have 3 student loans left until I’m free of them. I am still tackling Group B in EdFinancial. And with the current payment schedule I’ve set up, it’s expected to be paid off this Christmas week.
I still don’t add extra payments on what I already pay every week since my savings goal has not been met yet. But since it’ll be done this month, I can use the $200 for other things.
I’m thinking of using half of that for my student loans and the other half on my investments. That will boost my payments and get these student loans paid faster.
Total Liabilities & My Comments
My total liabilities for November is $10,854.46, a decrease of $822.58 — a 7.04% decrease change from last month, October.
This is very good progress. The decline in terms of percent is increasing since the last 3 months. If this continues, then debts will be paid off sooner and I can refocus my money to growing my assets.
| COMPARISON | October | November |
|---|---|---|
| Total Liabilites | $11,677.04 | $10,854.46 |
| Liabilites Change ($) | -$774.03 | -$822.58 |
| Liabilites Change (%) | -6.22% | -7.04% |
My Net Worth for November 2021
So my Net Worth for November 2021 is $21,929.86, an increase of $2,684.40 — a 13.95% increase compared to the previous month, October.
I’ve finally hit the $20,000 mark and I’m very excited because I’m 1/5 along the way to $100K. There’s definitely a lot of work before I get to that, but I’m sure that I can make it work.
By next year, I’m only focusing on 2 student loans and my credit card debt. With that less strain on my finances, I can focus on creating or growing income-generating assets.
While my debt responsibilities are declining, I still need to work on growing my income. I still believe that you can only save so much money, and you need to make more money so you can get to your financial goals faster.
And I keep telling that to myself especially now that my income has declined. So there’s this sort of pressure. Even though I know ways to make money, I keep stopping myself from making it happen. I got so many ideas but never really act on them.
So this month, and pretty much moving forward, it’s a journey of progress not just financially, but also mentally. But I really believe though that if I’m consistent in tackling this obstacle I’m facing, then I will overcome it.