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Welcome to the ninth net worth report here at NMI!
April was somewhat of a mixed bag. While stocks didn’t increase by that much, cryptos did finally start making their ascent back up, while still overall being down.
For those new to my net worth reports, I’d like to give you a few minor details. I get paid semi-monthly, which means I get paid on the 15th and the last day of the month.
Sometimes my money isn’t made available to me until two or three days after the month has already changed, so in order to ensure the most accurate net worth reports, I will always include both incomes. As such, my reports will be made available on the third or fourth day of the following month, possibly a few days after.
In rare circumstances in which I fail to get paid on time, I will either wait until that money is made available to report or I will include it in the following month’s net worth report.
You can find the latest and/or past reports here.
These figures are accurate as of the end of the day, May 6th.
MY INCOME
JOB INCOME
April was actually super busy at work. It seems we are finally starting to pick up. Fortunately, I was able to get both of my checks right away, with the last one of the month a couple days earlier than normal.
SIDE INCOME
For the third month in a row, I have some additional side income to report!
I finally sold that desk – the one I purchased way back in November of 2017 for $35 at an auction – for $295.00 at the consignment store I work at. I receive sixty percent of the selling price, which means I received $177.00, a profit of over $140.00!
I’m also super happy to report that I had four sales in the month of April at my Etsy store, a gross of $81.90!
This was about double what I made in March, with one of the sales coming from my first repeat customer – and I had twice the amount of sales too! I think I may have a side hustle after all. I’m hoping that sales will continue to increase, or, at the very least, hold, giving me some additional income every month.
I also sold a Super Nintendo Classic that I put on eBay for $150.00 earlier this year. I loaded it up with a bunch of extra games and put it on there with the hopes that it would eventually sell, and it finally did!
I picked up a bunch of new items at an auction in April and early May that I’m trying to sell at my consignment store, on Ebay/Amazon, and I may even try the Facebook marketplace. I’m sick of just relying on my single income. Yes, all those people are right when they tell you to get a side hustle.
TOTAL INCOME
MY ASSETS
My assets didn’t change too much this month. While cryptos went waaaay up, most of my index investments went up by just a fraction of a point.
SAVINGS
While I reached my savings goal of having $10,000.00 in my accounts, I decided to funnel a little bit of that back into my investments so that it wasn’t just sitting in a savings account earning little interest. I still fully expect a severe market correction in the near future, but I figured I might as well put it in my brokerage account while I have it.
INVESTMENTS
As you can see from the table below, cryptos rebounded quite a bit from where they were the month prior. One never knows what they’re going to do.
I also dumped $2,500.00 into my VTSAX account to get a little more invested. I’m almost up to $40,000.00 in assets invested! The rest of my investments remained somewhat stagnant, but that’s OK.
Remember, when it comes to cryptos, never part with more money than you’re willing to lose! I’ve learned that the hard way!
Here’s a link to my article on cryptocurrency that every beginner should check out before jumping in.
*I decided to try an experiment in which I purchased 43 different cryptocurrencies (worth about $900.00 total) in the beginning of 2018 with the intent of holding onto them for one full year. You can check out the initial post here. I will be posting updates to that portfolio around the 15th of each month. I’ve decided to separate that portfolio from my net worth portfolio as it’s an experiment, so you won’t see the balance of that in these monthly reports.
MY LIABILITIES
Last month I reported that I paid off the Citibank card that was offering zero interest until later this year, so I just have the one card, and my balance actually didn’t increase by that much this past month.
I tried spending very little, and mostly used some cash that I had on hand, so I didn’t contribute much to my debt this month. Once I get paid again in a week, I’ll put that chunk of cash towards the debt, bringing it back down even further.
I really recommend automating all of your bills, especially if they allow you to pay with a credit card. You set it up once and you don’t have to worry again. The only ones I don’t automate are accounts that need a checking account – you want to be sure the money is in there before it gets debited.
MY NET WORTH
An increase of + $538.18
Woohoo! Back up to positive numbers!
Most of the increase can be attributed to the rise in cryptos and the chunk of change I transferred into my brokerage account. I’m also happy that I haven’t been adding greatly to my debt. Bringing that down is my focus now. I’m toying with the idea of going on a short cash-diet to see if I can bring my spending to down, in the hopes I’ll stop adding to my credit card debt.
CONCLUSION
I’m happy to be swinging in a positive direction, and with my side income consistently going up, I expect this to continue to trend upward for the rest of the year.
I’m excited to see how the second half of the year plays out.
How’s your 2018 going?
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