Net Worth

Net Worth | September 2023

Welcome to the September 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.

September is over, and thankfully the weather wasn’t over 100 every day. It was only in the 90s, with a few days over 100.

Financially, September was a bad month due to the markets. September lived up to expectations, you could say. On top of that, we spend a lot.

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.

September 2023 Net Worth

Here’s how September compares to last month:

September 2023 Net Worth Summary

September Account Breakdown

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

Cash ($3010.51)

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 above-average month for us both in terms of spending and income. We brought home more money than last month, and I forgot to transfer last month’s earnings into the savings account, so that’s why this is positive.

Our spending was above average this month.

Investment Cash ($1,212.24)

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 August (if I would have transferred it).

I’m still waiting for some opportunities to come up in the housing market, although I’m not that optimistic. The housing market is still fairly strong, but winter is coming up, so we’ll see.

I put a bunch of money in a CD back in February, so hopefully, nothing too exciting pops up while that money is locked away. It will be available in January, assuming I don’t roll it into another CD.

Remaining Cash Accounts (Emergency and Sinking Funds) ($908.99)

Nothing exciting here. Just the usual. We are just saving up for our property tax bill for when it’s due early next year.

Retirement Accounts

401(k)s (-$10,437.60)

Ouch, Don’t look! This month we had our second decrease of the year, and it was bad. The markets were down pretty sharp for most of September, but unlike August, they did not recover at the end.

IRA (-$13,931.42)

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

Overall, that’s a loss of about 4.25% between the 401k and IRAs.

College Fund (-$2,890.54)

The college fund is invested just like the IRAs; in mutual funds. Similarly, this college fund was down by 4.4 percent.

Net Worth (-$20,071.65)

September was the worst month of the year. I didn’t complain about August being slightly down, but September hurt.

Fortunately, we have jobs and aren’t relying on savings yet, because that would be over half our annual expenses.

Our expenses were higher than last month, with a few major expenses.

In total, our net worth dropped a lot, with a decrease of approximately 2.04%.

So far, our net worth has increased every month in 2023, but now it has dropped two months in a row. Bummer!

Accessible Net Worth ($4,297.37)

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

Our income was above average, and our expenses were above average this month as well. Our accessible net worth increased as a result of our earnings and not having too crazy of 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. March was a record-breaking month.

May, just like April, was pretty mediocre, as it was just interest in my investment accounts.

August, June, and July, in addition to account interest, did turn out a few dividends, but nothing mind-blowing.

September is where things typically get a little exciting. That was not the case this year. The mutual funds I’m invested in did NOT pay out any dividends or capital gains, for the most part.

You can see I brought in a little more than a normal month, but not much.

The interest rate in my savings account stayed the same this month, at 4.30%. I had hoped to see it rise a little more, as the Feds did end up raising the rate just a hair more in August, but that hasn’t happened. I don’t expect any more raises after that.

September 2023 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%, which we didn’t achieve. In 2022, we barely missed that goal! I’ve set the same goal for this year.

Last month we missed the 50% goal, and now are average for the year is below 50%.

I don’t think we’ll meet the 50% in October because of some planned expenses and car insurance premiums are due.

I’m still hoping we can bring it back up by the end of the year. Hopefully, we won’t have too many unplanned expenses.

Of that 50% we are spending, Housing and Daycare alone eat up about 30%. We give 10%, so that means we are living on 10-15% for everything else.

There is a light at the end of the tunnel for daycare, but these Texas property taxes kill me. The good news is that the state legislature passed a bill in July that is supposed to give some relief. I finally got my property tax bill, and my taxes are lower by a significant amount.

Daycare will decrease every year until it’s mostly gone at the end of the summer of 2024. Hopefully, we can get our savings rate up above 50% when that happens.

I wonder what other expenses will pop up once daycare is done.

Here’s how we did this month.

September 2023 Savings Rate

Income ($10,395.36)

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

This is what an above-average income month looks like for us. Income for September was above average.

Expenses ($5,689.59)

Our expenses were above average this month. We did have some car maintenance, but no unexpected expenses, and mostly kept the rest of our spending in check. There was one impulse buy I made that was fairly expensive. I don’t plan on doing that too often

Here is a quick breakdown:

1) Home Escrow ($988.00)

The normal amount we put aside every month. We cleared out storage, so this will drop after October.

2) Giving ($1,143.49)

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

3) Cost of living ($3,558.10)

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 paperwork for us.

In September, we had above-average expenses.

August 2023 Vs September 2023 Expenses

August and September were pretty different months in terms of finances. We did spent slightly more and made more money in September compared to August.

Hopefully, October will stay fairly smooth, and I don’t make any more impulse purchases. We don’t have any big planned expenses this month aside from car insurance.

Goals Progress

September 2023 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, I’m not completely sure how the other goals are going to turn out.

We’re three-quarters of the way through the year, and I still can’t tell. That’s how close some of them are.

After September’s performance, I’m not sure we’ll hit the passive income goal. I’m fairly sure we won’t be hitting the savings goal. We have fallen behind, and there’s not a whole lot of the year left. I don’t think we’ll catch up.

The savings rate goal has become a thorn in my side, and we’re no longer positive for the year. We’ll see if that’s enough motivation to actually reach the goal. Maybe we can meet our goal two years in a row?

Blog Goal

My goal of 24 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 posted a bunch of articles in March, and there were more posted in the last couple of months. I plan on publishing a few every month for the rest of the year. Take a look and let me know what you think.

I plan on achieving this goal, and I’m not too far off from that now.

Personal Goals

I’m doing a reading goal again this year with the same number of books. Last year I only read 2, but I know I can do 3. I’m done with the first book. I finally started reading a second book….

And then there is my physical health. I didn’t get to where I wanted in 2021, …or 2022, 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. So far, that hasn’t happened.

September 2023 Roundup

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

Six months in a row. Yay!

The weather has been constantly hot, with pretty much no breaks. Fortunately, it will start cooling down now that we’re in October.

I continue to be excited as we progress into October and as we wind up the rest of the year. 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.