Net Worth

Net Worth | June 2024

Welcome to the June 2023 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 at the beginning of September 2019. I started by creating the Net Worth Baseline report.

You can view Previous Net Worth reports HERE.

Let’s dive straight into this month’s report.

Monthly Roundup

Previously, I would go through my month, and go over the highlights. These days I’m doing it a little differently. Unless you convince me that you want to hear about my month, I’m not going to talk about it.

June 2023 Net Worth

Here’s how June compares to last month:

June 2024 Net Worth Summary

June Account Breakdown

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

Cash (-$2,687.58)

Monthly Blurb: This is where our paychecks get deposited. All our income goes into this account and 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.

It was an average month for us both in terms of income and above-average for spending. I forgot to transfer money into investment one month. That’s why our cash is lower than last month. I actually remembered to transfer money this month.

Our spending was above average this month due to having both kids in daycare.

Investment Cash ($3,710.07)

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

This is where our leftover income went from May.

The fixer-upper house is now on the market, and it’s not looking good so far. The market has dried up a bit it seems. Hopefully we get some potential buyers before too long.

Remaining Cash Accounts (Emergency and Sinking Funds) ($2,716.72)

Nothing too exciting here. Just the usual. It would normally be negative this month because I had to pay our home insurance, but I also transferred money for car savings for both April and May. Other than that, we are just saving up for our property tax bill for when it’s due early next year.

Retirement Accounts

401(k)s ($9,509.31)

This month we had a significant increase. I didn’t realize it during the month, but I guess the market did pretty well in June.

IRA ($12,117.42)

All market performance here. Again, more than I expected because I wasn’t really keeping up with market changes.

Overall, that’s a gain of about 3% between the 401k and IRAs. stillwell

College Fund ($1,495.16)

The college fund is invested in mutual funds just like the IRAs. However, this mutual fund was up by “only” 2 percent.

Net Worth ($26,840.54)

June was a good month. Most of the net worth increase came from our investments, and about a quarter came from our jobs this month.

Our expenses were about the same as last month, with no major expenses.

In total, our net worth increased by approximately 2.31%

Accessible Net Worth ($5,213.81)

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

Our income was average, and our expenses were above average this month. Our accessible net worth increased as a result of our investments, making a good amount of money this month, and not having any crazy expenses.


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

January and February are very boring months for dividends.

I didn’t realize it until adding the numbers up, but March was a record-breaking month! April and May’s numbers were pretty average.

June was pretty good. Not as good as last year, but still good.

Last year, on the whole, was the worst I’ve had since 2017, and I have a lot more invested than I did six years ago. Let’s see how the second half of 2024 plays out.

The interest rate in my savings account remained at 4.25% for the month. The market is becoming more volatile, so I wouldn’t be surprised if there was a rate cut by the end of the year.

June 2024 Passive Income

Saving’s Rate

I track my savings rate in order to help keep my feet to the fire so that 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.

A couple of years ago, I had to adjust the savings goal to 50%. In 2022, we barely missed that goal, but we met it in 2023!

As a result of meeting the goal in 2023, I raised the bar to 55%.

In January, we missed the 55% goal, but we were over 50%.

As I mentioned earlier this year, starting in February, we are saving for a car. We plan to put $2,000 aside each month for the rest of the year.

As a result, we are for sure not going to make the 55% goal. However, I’m going to keep track of two sets of Savings Rate numbers. One, as if we didn’t spend the money, and two, as if the money were spent. The latter is what you will see in the spreadsheet.

Of that 50% we are spending, Housing and Daycare alone eat up over 30%. We give 10%, so that means we are living on 10% or less for everything else.

There is a light at the end of the tunnel for daycare. Two more months and counting.

Daycare has been decreasing every year, and we only have about two months left of full-time daycare. It will mostly be gone at the end of the summer. Hopefully, we can get our savings rate up above 50% when that happens and after we have enough saved up for a car.

I’ve been wonder what other expenses will pop up once daycare is done, and now I’m starting to see them. We’ve been doing gymnastics, and are going to give ballet a try starting in July.

Here’s how we did this month.

June 2024 Savings Rate

Income ($9,715.61)

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

This is what an average income month looks like for us.

Expenses ($7,373.00)

Our expenses were average this month. We didn’t have any car repairs or unexpected expenses and mostly kept the rest of our spending in check.

Here is a quick breakdown:

1) Home Escrow ($700.00)

The normal amount we put aside every month, plus paying for pest control.

2) Giving ($971.56)

The usual 10% we give every month. Plus 1% that we started to give on top of that.

3) Cost of living ($5,701.44)

This includes all our bills (Gas, Electric, Water, Internet, Phone), transportation, food, shopping, car insurance, and daycare. This also includes saving for the car.

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 paperwork for us.

In May, we had slightly above average expenses.

June 2024 Vs May 2024 Expenses

June and May were pretty average months, in terms of finances, although we did spend more in May and we made more money in June. We’re in our routine for the year, and things are going great.

Hopefully, July stays fairly smooth. We don’t have any big planned expenses this month, aside from possibly buying some plane tickets if the prices come down at all.

Goals Progress

June 2024 Goals Progress

Financial Goals

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

Aside from the 401k, which is on automatic contributions from my paycheck, we have reached the middle of the year, and I’m not completely sure how the other goals are going to turn out.

I’m not sure about the Real Estate (RE) Investing goal since we bought a property. I’ll include the net profits here since that will become future investment money.

So far, we’re looking good.

We’ll just continue to ignore the savings rate goal.

Blog Goal

My goal of 12 articles this year is in the works. I’ve actually been working on some content for this site other than my net worth reports!

I didn’t get around to posting anything in Jun, but I posted one article in January and have more posts planned. I planned on publishing one every month for the rest of the year. It’ll happen eventually. Take a look and let me know what you think.

Personal Goals

I’m doing a reading goal again this year with only two books. Last year, I read 2, and that seems like a good amount for me. I’m done with the first book (Crucial Conversations), and I’ve already finished reading the second book (Good to Great). Goal Complete!

And then there is my physical health. I didn’t get to where I wanted in 2021, 2022, …or 2023, so we’ll continue to try again this year. I want to lose fat, and part of that is going to be by eating healthier. January and February were hit or miss. Now there are more sweets from easter and birthdays.

June 2024 Roundup

The month of June was a good one, and nothing too unexpected happened. Kids didn’t have any unplanned days off school, we all stayed healthy, and pretty much life ran smoothly.

The weather has been warming up, and it’s now what I would call hot. The last few days have been hitting 100. Thankfully, it;s not like last summer where we had 40 somedays over 100.

I continue to be excited as we progress into July and for the rest of the year. I’ll be even more excited once the house sells. Hopefully I’ll have good news by next month’s report.

There’s really a lot to be thankful for.

Stay tuned for next month’s New 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 the 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.

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