Overall, June was a good month for me. I bought a used car to replace the one I’m currently driving. It’s 10 years newer and much, much nicer than what I was driving before. Needless to say that was a large expense for June and largely affected my goals for the year so far.
Increase annual dividend to $1,200. (90%)
At the end of June my annual dividends were $1,081.08. I’m getting closer!! I still have no doubt that I will reach my goal of $1,200 by the end of this year. I’m currently on track to pass this goal and I don’t see any reason why it won’t happen. I am just that much closer to making an average of 100 extra dollars per month that I would have never had before. I am still working on diversifying my portfolio a bit, my largest holdings are still a bit too large for me to be comfortable with. Here’s my current Dividend Portfolio.
Increase Net Worth by 50% (20%)
I regret to say that my net worth has actually dropped throughout the month of June. It dropped by about 2% which isn’t THAT terrible considering the money I spent on my new car. I’m yet to sell the old car I was driving so when I finally sell that I’ll be in a much better position. In addition to my Stocks, Roth IRA and Bank account I’ve started a 457 plan through work which is a tax deferred account. It’s very similar to a 401k for those who aren’t familiar with them. I will be putting $200 from each paycheck into this and will also be counting the losses and gains from this into my net worth. I will talk about my 457 and my holdings in another post.
Max Out Roth IRA For 2016 (100%)
I started my Roth IRA in October last year and maxed 2015 out as soon as I created it. In January 2016 I maxed out 2016 as I felt the market was still low and it was a good time to buy. My Roth IRA has done very well thus far and if anyone is interested in what I hold in my Roth I will talk about that in another post.
Save Another $15,000 In My Bank Account (-$3,000)
This negative number is obviously attributed to the purchase of my new car. I’m not dwelling on it too much. When I sell my old car this will almost all be returned. As far as saving another $15,000 goes, I’m not so sure. I’m really not convinced that I’ll still be able to achieve this goal this year. A lot of this goal is going to be determined by my side incomes and my real estate income.
Make $10,000 From Real Estate (Hopefully some!!)
I’m a realtor with a company and within that company I am on a team. I showed a house for one of my team leaders as he was busy and couldn’t do it that day and we made an arrangement that if they liked the house and wanted to submit an offer then he would give me a cut. I know what I’m going to make from that deal as long as they close on the house. I also won’t get paid until closing so I won’t be counting that until it actually happens, but it’s a start! I have lots of clients I’m working with it’s just a matter of time! I think $10,000 is still attainable but a lot of the income might not actually come until 2017.
I made $1,926.27 from my full-time job this month. This is a pretty average month for me, two paychecks, no complaints really.
I received $128.62 from dividends in June making this best month for dividends to date. Definitely very cool, I wish I made this much from dividends every month, soon though.
I didn’t actually make any money from real estate in June but I did make a deal that will make me money when a particular house closes. I won’t be counting that as income until I actually receive the money so look for that in a later post!
I made $518.15 in misc. income in June. Very high for this category for me. Mostly because it was my birthday month and I received $300 in birthday money. The other $218.15 was from selling Amazon Fire TV Sticks. I’m working on a couple other ways to increase my “Miscellaneous” income and I’ll elaborate on these methods later on after I’ve tested them out. I’m actually working on one right now that seems to be working out pretty well and is very easy to do.
Well, with the car my total expenses were $6,267.94. Without the car they were only $603.94. So with the car my June expenses were horrible and way too high. Without the car expenses I’m actually very happy with that number. I’m hoping July will be somewhere around that $600 number and I hope I’m able to sell my other car to offset June’s expenses.
I was in the red this month. This isn’t a normal thing for me and I’m not thrilled about it but it was pretty necessary. With the car expenses I was -$3,877.67. Down quite a bit. Without the car expenses I would’ve been up $1,786.33 which I would’ve been very happy with. I will absolutely make up for it in July.