I love the old adage Cash is King! It is great to have a budget, to be reducing debt and to be investing towards your retirement, however what really matter is your income and how well you are managing your money.
I’ve been tracking my net worth for a long time, but recently decided to start sharing it, in part to keep myself accountable, but also as a tool for others.
My goal with my net worth reports is to provide actionable steps that anyone can take to increase their income and cash at the time.
For the sake of these reports, I’m only going to be sharing my income. I’ll touch on how I make money and also explain how I’m working to grow my income each month.
- Consulting income: $3,637
- Affiliate Income: $ 248
- Monumentric: $ 91
- Izea: $112
- Freelance Writing: $100
Total Income: $4,188
Consulting Income: This comes from a variety of source including my old HR director position. I also consult with other bloggers to help them get started with their blogs.
Monumetric: This is the ad company I use for any ads you see on my Daily Successful Living site. I’m not getting enough traffic on this site or my other site to qualify for their services yet.
Izea: This is the major influencer network I participate in. I love using IZEA because they have a ton of Twitter opportunities. Twitter is super easy to monetize.
Freelance Writing: I write primarily for Gobankingrates and love working with them. The articles are fun and easy to write.
- Total Checking: $ 2,388
- Total Savings: $ 32,656
- Total Retirement $164,042
- Brokerage Acct: $ 4,565
- College Fund $ 1,618
- Other Assets $445,000
Total Assets: $650,2694
- Primary Mortgage $106,152
Total Net Worth: $511,117
We will be purchasing a new truck next month for $25,000, so I’ve been putting money into savings like crazy lately. Every little bit of extra cash has been going into my truck fund. I’m bound and determined not to take out a loan and I’m pretty sure I can swing the purchase.
Just as an FYI, I’ve combined my home, some land we own and our vehicles and boat together into the asset section. I’m only going to update that amount periodically because I’m too lazy to update the Kelly Blue Book value of the vehicles each month.
I’ve used very conservative numbers though to keep everything as low as possible.