Net Worth

Net Worth | July 2021

Our July 2021 net worth continued to increase, and 2021 continues to be a good year for us, financially speaking, despite all the uncertainty in the world.

Welcome to the July 2021 edition of our net worth tracker, where we’ll track our net worth month over month. I first started tracking our net worth at the time this blog was started, which was the beginning of September 2019. I started by creating the Net Worth Baseline report.

You can view Previous Net Worth reports HERE.

It’s July now and the weather is heating up. I think we have had only a few 100-degree days, so we are doing good. Financially, July was a good month, although it may not have felt like anything happened.

And just like the last few months, I’m not going to talk much about what I did this month because, well, we continued to not do much. It was an overall calm and relaxing month for us with one little birthday party.

Monthly Roundup

There are places that are starting to require masks again. My workplace is one of them. Fortunately, I get to work from home most of the time.

My question is: At what point does this stop?

Our baby had another birthday and, overall, life is good. If you recently had a child, don’t forget to fund their college education. I use the Vanguard 529 plan. I need to transfer money into that soon!

July 2021 Net Worth

Here’s how July compares to last month:

July 2020 Net Worth Summary

July Account Breakdown

Let’s take a quick look at what happened in July.

Cash (-3,026.43)

Monthly Blurb: This is where our paychecks get deposited. All our income goes into this account, then gets transferred to the proper accounts as set by my budget. As usual, I do the net worth report before transferring money to the appropriate accounts.

I think I was a little late transferring money around last month, so our cash balance shows lower. However, we actually made more money this month and are able to contribute more to savings.

Investment Cash ($7,841.33)

Monthly Blurb: All of our cash leftover at the end of the month is transferred here and is considered part of our savings rate.

All of our extra money is going towards investments this month. This is where our leftover income went from June.

Remaining Cash Accounts (Emergency and Sinking Funds) ($1,063.12)

Nothing exciting here. Just the usual. We are just saving up for our property tax bill and HOA fees for when they are due early next year.

Retirement Accounts

401(k)s (+$2,883.00)

Last month we saw about a 1.5% increase. This month is nearly the same as last month, maybe slightly higher. The markets were already at record highs and we saw some volatility, but the markets still reached higher highs.

IRA (+$1,729.65)

This increase is all due to the rise in the markets. The rise was pretty negligible, at less than 1%.

College Fund (+$576.67)

Just like the other investments, the college savings rose as well. Matching the IRA accounts at around 1%.

Net Worth (+$9,437.64)

I’m continually amazed to see how much our net worth can change in a single month. The markets were overall flat this month and nothing really happened., yet our net worth increased by almost 5 figures. I think I’m starting to see the impact of compound interest.

In total, our net worth increased by about 1.5%.

Accessible Net Worth ($4,824.99)

Monthly Blurb: This is the money we are able to put away, not including the tax-advantaged retirement accounts.

Our income was a little above average and our expenses were about average this month. Our accessible net worth increased mostly because we continue shoveling money into our investment account.


Status: None, as usual. They’re a burden, so I avoid them. The cars, the house, they’re all paid for. Student loans…never used them. Credit Card debt? I only use one, and it gets paid off every month, and often I’ll pay it off multiple times per month. Just depends on how many times I think about it.

Passive Income

The tension is building as the break until September continues. There are a lot of companies starting up dividends again, and a lot of companies are reporting higher than expected profits.

September should be exciting, but we have to make it through August first.

The interest rate in my savings account is super low, as can be expected. My money is barely making any money sitting in that “high-yield” account earning 0.4%.

July 2020 Passive Income

Saving’s Rate

I track my savings rate in order to help keep my feet to the fire, so later I can be Gone on FIRE. As a bonus, you get a glimpse into my cash flow by looking at the income and expense rows.

Last year, I had to adjust the savings goal to 50%, which we didn’t achieve. I’m setting the same goal this year, and it’s looking like it will be tough to get there.

It was also this time last year I was paying for a cruise that ultimately got cancelled. Bummer

Our Year-to-date savings rate increased ever so slightly but is still just short of 50%. I anticipate the next few months will have a similar savings rate though, but I’m hoping we can stretch for that 50%. Hitting that 50% target is going to be tuff!

Here’s how we did this month.

July 2020 Savings Rate

Income ($10,383.49)

Right now, our only source of active income is through our full-time jobs.

This is what a slightly above-average month looks like for us.

Expenses ($5,199.21)

Our expenses were about average this month.

Here is a quick breakdown:

1) Home Escrow ($1500.79)

The “new” normal amount we put aside every month.

We adjusted this due to an increase in home insurance. Without the increase, we would have a shortage come January if property taxes stay the same, or increase.

2) Giving ($1,038.35)

The usual 10% we give every month.

3) Cost of living ($2,394.24)

Previous Months: June: ($4,283.01), May: ($3,726.16), Apr: ($3,857.24), Mar: ($2,962.72), Feb: ($2,632.65), Jan: ($4,757.43), Dec: (-$1,132.39), Nov: ($1,372.91), Oct: ($6,397.83), Sep: ($2,602.07), Aug: ($2,835.56), July: ($4,283.01)
Running Average: $3,151.38

This includes all our bills (Gas, Electric, Water, Internet, Phone), transportation, food, shopping, car insurance, and daycare. Home insurance is paid for out of our Home Escrow savings account. Like last year, we are going to drain our dependent care account at the end of the year in one lump sum. Doing it that way is less paper work for us.

We have been driving more, so our gasoline bill is starting to climb. We hit a new peak in July as Gasoline prices continue to rise. Our utility bills rose as well since the weather is heating up and we have to cool the house. Not to mention watering the yard.

I mentioned that after February, I should have a pretty good idea what a normal month looks like. And I’ll know if a savings rate of 50% is likely.

We managed to keep our saving’s rate above 50% up until May. I expect that to drop throughout the remainder of the year until we hit December.

I was previously hopeful that changes in day care will help us keep that number above 50%, but the decrease int he cost of daycare was not that significant.

July 2021 Vs June 2021 Expenses

June and July were pretty similar in terms of expenses, except for the big house cleaning we had in June.

We’re in our routine for the year, and things are going great.

Hopefully August stays fairly smooth and we don’t have any unforeseen expenses.

Goals Progress

June 2021 Goals Progress

Financial Goals

Aside from the Roth IRA contribution, most of the financial goals this year are year long goals.

The Roth IRA contribution is done, and the money has been transferred to the proper accoutns.

Aside from the 401k, which is on automatic contributions from my paycheck, I’m still not completely sure how the other goals are going to turn out. Time will tell.

We are on track to save over $50,000 for real estate investing. The year is officially half way over now, and we’ve managed to save nearly 70% of what the year long goal is. I think we will make this one.

If dividends keep breaking records, than I will meet the passive income goal. Currently, I’m on pace to meet the $15,000 goal for passive income. We’ll see if that pace keeps up. I know it looks ugly now, but most of the money comes in at the end of the year; September and December.

The savings rate goal of 50% is turning into a stretch goal, but I still think we can do it. We’ve dropped below 50% right now! And the rest of the year is the challenging part. We’ll see what we can do to upright this ship.

Blog Goal

For 2021, I want to create more content. My goal is at least one article a month. I failed to do that so far this year. I keep saying hopefully next month I’ll get an article posted, but life is just keeping me busy. Honestly, I struggle to find time just to make these net worth reports, but it’s something I’m committed to doing.

Personal Goals

I’m doing a reading goal again this year, but half the number of books. I know 6 books isn’t much, but it felt like a lot. I think I can do 3.

So far I haven’t started.

And then their is my physical health. I didn’t get to where I wanted in 2020, so we’ll try again this year.

I’ve been loosing some weight this year, and I’ve been going to the gym again and running. That’s been helping. Just need to eat a little healthier.

July 2021 Roundup

The month of July was a a good one, and nothing too unusual happened. One of the girls has a birthdays, and then we got sick for a few weeks. Unrelated, but I’m happy that my girls are back to being happy.

I’m excited as we progress into August, and for the rest of the year. We are inching closer and closer towards normal, although some place like my work have started requiring masks again. Even for those who are vaccinated.

Covid continues to dominate the news, as there has been a spike with the Delta variant. Studies are starting to show more and more cases among those who have been vaccinated.

I’m still hopeful that we will be able to stop wearing masks everywhere we go soon. I think public transportation and a few states are all that’s left. We didn’t quite get all our freedom back, but hopefully not much longer.

Stay tuned for next month’s Net Worth update!

FIRE Away!

  • 2 big items not included in my net worth:
    • House & Cars – Their value will be added to my net worth if and when I sell them.
  • 2 accounts not included in net worth total (even though they’re listed):
    • 529 – This is my money for my babies. Consider it their net worth summary.
    • Home Escrow – This is Uncle Sam’s money. We don’t mess around with Uncle Sam and his money.
  • Total income only includes our active income, which is currently our full-time jobs.