Time for another net worth update!
On Net Worth Update #6 for September, I had a net worth of $15,383.53, which is an increase of $311.55 , or a 2.07% growth from August. It’s the lowest growth I’ve ever recorded since starting.
October has been a decent month for me. Personal expenses were kept low as usual, but business expenses have gone up a little bit. I am very happy with October’s numbers too because I’ve finally paid off one of my student loans, which you’ll see later.
This is the 7th update in my series, so let’s look how far I’ve grown my net worth in October!
All numbers here are logged in as of October 31 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 | $456.66 |
| Account #2 | Chase | $1,856.12 |
| Account #3 | PayPal | $1,164.13 |
SAVINGS Details: I have 4 High-Yield Savings Accounts.
| Savings | Bank Name | Amount |
|---|---|---|
| Tax Purposes | Ally Bank | $10,230.54 |
| Personal Savings #1 | Ally Bank | $2,800.90 |
| Personal Savings #2 | Yotta | $2,388.21 |
| Personal Savings #3 | WealthFront | $351.15 |
SUMMARY:
Looking at my 3 checking accounts, they grown a little bit, which is always good news. Even though they’re not big growths, it’s a scenario that I always want to happen.
My savings accounts have grown too, especially with Yotta – it grew $300+. I have an emergency savings goal of $6,000 before the year ends, and that’s been the focus at the moment.
I added an extra $250, on top of my $100 monthly contribution, to Yotta since I can afford to do so.
As for WealthFront, I’ve used up all the money I’ve allocated for our Hawaii travel and most of the leftover here is saved for my PC upgrade.
I’m gonna continue to contribute here so that at least my sinking fund grows passively.
My Assets (Investments)
INVESTMENT Details: I have 6 investment accounts: 3 money market accounts & 3 cryptocurrency accounts.
| Platform | Type | Amount |
|---|---|---|
| WeBull | Stock | $7,559.86 |
| TDAmeritrade | Roth IRA/Stock | $1,477.27 |
| Coinbase | Cryptocurrency | $1,581.54 |
| BlockFi | Cryptocurrency | $624.98 |
| Public | Stock | $118.13 |
| Cake Defi | Cryptocurrency | $313.01 |
SUMMARY:
Stocks — The stock market is recovering, and that is reflected in the growth of my portfolio. Last month, it was at $7,150. Now, it’s $400 more.
REITs are performing really well, and I’m seeing 10% to 20% growth in some of my REIT stocks. Some of my stocks in the financial sectors are seeing growth too as high as 4%.
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 — Because of Bitcoin’s recent rally, my crypto portfolio has gone up. Coinbase, BlockFi and Cake DeFi enjoyed some gains, and I’m very happy for that.
Even though I’m not actively contributing to these platforms every month, the passive income that each of them generates (except for Coinbase) is enough to feed its growth.
I wrote a post recently sharing some of the apps that I use to generate passive income. That list included Reklaim, which rewards me with cash, Bitcoin or Ethereum for simply sharing some of my data.
So Reklaim, while not significant, will be one of the many sources that funds my crypto investments moving forward.
I recently found out as well that BlockFi offers more than a 3% interest on BAT, or Basic Attention Token, which I have been earning passively as well by using the Brave browser.
That got me quite excited, so I’m preparing my set up to have BAT earn some interest when I’m allowed to do so. I’ve found different ways to earn crypto for free passively, so that’s going to really help me fund and grow my crypto portfolio.
Total Assets & My Comments
My total assets for October is $30,922.50, an increase of $3,087.90 — a 11.09% increase from last month, September.
Such a welcome news because last month’s growth was abysmal. My assets declined on September and seeing it grow by $3,000 is a great sight to see.
| COMPARISON | September | October |
|---|---|---|
| Total Assets | $27,834.60 | $30,922.50 |
| Assets Change ($) | -$352.19 | $3,087.90 |
| Assets Change (%) | -1.25% | 11.09% |
My Liabilities (Credit Cards)
CREDIT CARDS Details: I have 3 credit cards.
| Issuer | Credit Card | Amount |
|---|---|---|
| Discover | Discover It | $13.99 |
| Chase | Chase Freedom Unlimited | $1,334.14 |
SUMMARY:
Nothing crazy with my credit cards for this month. Discover had a balance that came from one of my subscriptions. For Chase, it only has the balance from my balance transfer because I’ve been paying my purchases right after they are posted. I’m still contributing $50 every month to Chase.
My Liabilities (Student Loans)
STUDENT LOANS Details: I had 4 federal student loan accounts — 1 has been fully paid off in October.
| Servicer | Type | Amount |
|---|---|---|
| EdFinancial | Federal | $5,344.78 |
| EdFinancial | Federal | $1,417.45 |
| EdFinancial | Federal | $3,566.68 |
SUMMARY:
Right after crossing off College Avenue from my student loan list, Group D met the same fate 4 weeks later. $165 every week to this bad boy, and boom, it was gone. Now, I set my sights to Group B, with a current balance of $1,417.45.
Right now, I’m paying $180 per week to this account, and by my estimates, should be paid off sometime in December.
Really lucky that the payment pause is still active, or else the interest accruals would have slowed down my efforts. My target now is to be free of my student loans by end of 2022.
Total Liabilities & My Comments
My total liabilities for October is $11,677.04, a decrease of $774.03 — a 6.22% decrease change from last month, September.
I’ll keep using my credit card for purchases and rack up those points. Maybe I’ll even redeem them as cash and inject it towards my savings goal so I finish it faster.
I might slow down in paying off my student loans this November because of my savings goal. But once that’s taken care of, it’s back to the student loan game.
I’m gonna hit hard on those federal accounts while the payment pause is still there. I have to take advantage because having student loans isn’t easy.
For those of you who have student loans, you know how it feels like to have them.
They’re a drag. They feel heavy on your pockets. They literally stop you from being able to do bigger things, like purchase a home, a car or even double down on your investments.
That’s why I always think about next year because that’s the goal I’ve set for myself to get rid of student loans. I get really excited whenever I make a payment. It gets me closer towards that end goal. And all that excited and anticipation gets me motivated to stay on track.
| COMPARISON | September | October |
|---|---|---|
| Total Liabilites | $12,451.07 | $11,677.04 |
| Liabilites Change ($) | -$663.74 | -$774.03 |
| Liabilites Change (%) | -5.06 | -6.22% |
My Net Worth for October 2021
So my Net Worth for October 2021 is $19,245.46, an increase of $3,861.93 — a 25.10% increase compared to the previous month, September.
And there you go, a 4-digit increase to my net worth has happened again.
When October started, I had no clue what the month had in stored for me. It was a birthday month for my mom and I, so there’s this urge to tell myself that it’s okay to splurge a little bit.
Good thing is that I didn’t splurge at all for this month since it felt like I already spent so much in September. I didn’t feel the need for other things anymore.
But I did send money to my mom in the Philippines as her birthday gift, and I’m happy that she’s happy for it.
Anyway, November might have a different vibe to it because I need to be more cautious in how I spend and make money. Income will surely dip starting December, so this month is going to be a prep month.
My agency will also be doing a small pivot in our process, so hopefully we can use this opportunity to scale up.
I mentioned October as being a month of building for me and that’s what I’ve been doing and going to continue for November.
I’m going to educate myself in business and investments. And I’m also going to try out other crypto investment platforms to generate another stream of passive income.