Net Worth Update, August 2018: The One With $100K!

Look, I spoiled it right in the header, and I’ve been spoiling it for a couple of weeks on twitter. But it’s still exciting! I’m finally here — and after nearly giving up on making it before my 40th birthday, earlier this year, instead I’m celebrating it five months early.

It was a good spending month:

My target monthly spending is $1000, so that is just about where I want to be — a tad over, but not terrible. I took one short trip to see family a couple of states over; I drove, stayed and ate with them, and drove home, so it was a pretty cheap trip — gas and buying a few groceries while I was there.

My complete non-grocery, non-drugstore spending for the month: one Democratic Party tshirt, one set of wiper blades for my car, one carwash (trust me this was necessary, don’t ask), one Washington Post subscription, one local newspaper subscription, drinks out with a friend who was moving, earbud covers, one movie rental, one cake pan, and postage for sending my goddaughter a notebook.

I do think that $250 is a little tight for a monthly combined groceries/slush budget. It’s doable, but I think every month would be a struggle. My September budget has $300 in that line (compared to around $450 for the combined line in my typical budget while I was full-time employed) and we’ll see how that goes.

All right, nobody cares about how I bought earbuds, I know. Drumroll, please:

Obviously, it was a great month! The stock market did well; I got $1700 in growth alone, not counting contributions. Even without that though I would have been over the $100,000 mark! About $2000 in growth came from my final pay period from my full-time job. I also received about $1600 in freelance income which is earmarked for September’s bills.

I had a few small income bits, both of which went into my emergency fund: $90 from a mail-in rebate from my recent contact lens purchase, and $73 from my quarterly Ebates check. (<–referral link. Disclaimer: this one was a lot because I bought the contact lenses through Ebates; I don’t spend much online or, you know, at all, so normally this is more like $15-30. I love it though.) Anyway, because of this I’ve now met my emergency fund target contribution for the year and will stop contributing to it until January. It’ll be nice to have a little break from that in my budget.

I am very happy to be not only over $100K, but reasonably convincingly over $100K! $102,524 feels like I have a shot at not slipping back within the next few months, unless the markets REALLY crash. I will have a “how I did it” post coming up soon, looking at the journey from $0 to $100,000 (!) in some detail, so I’ll stop there — these net worth posts always get so long! This is one I’ll probably want to look back on, though.

14 thoughts on “Net Worth Update, August 2018: The One With $100K!

  1. RAnn says:

    Congratulations. That first $100,000 seems so hard; the next one won’t be easy either but each one gets progressively easier–the power of compounding!

    1. thesingledollar says:

      So I hear! Being semi-employed right now is not going to help with moving towards $200K, but I’ve been surprised in the past by how much progress I’ve been able to make.

  2. I’m actually curious about the earbud covers. What do they do?

    And CONGRATS! I can’t recall whether I celebrated my first $100k but I do remember it took so many years to get there it seemed unattainable. It felt so good to cross that line. And in your case, decisively enough so a hiccup in the market won’t drop you back down immediately so double yay!

    1. thesingledollar says:

      🙂 The earbud covers are little rubber doohickeys that help the earbuds actually stick in your ears instead of falling out (the part that actually conveys the music is a little plastic tube that would slide out right away.) They last a pretty long time but eventually they just get gross and I want to put a new pair on instead of trying to clean them up.

  3. My Early Retirement Journey says:

    Well done! I hit this not too long ago…well just in savings… net worth is massive zero!

    1. thesingledollar says:

      It feels good! But it was a long road. I’m glad you’re there in savings and you’ll get there in NW eventually.

  4. $100K net worth is awesome and reaching it ahead of schedule is also awesome. Celebration time!

    Any celebration plans?
    Maybe a very delicious cake to share with roommates (or not, I don’t judge when it comes to sharing cake 😉 ) topped with huge $100k bling candles set ablaze with fire….

    Ok, maybe some travel then?

    1. thesingledollar says:

      I’m going to travel next summer 🙂

  5. Sarah says:

    Hey, congrats! That’s super exciting! It sounds like the freelance work is going well too. Looking forward to reading more updates 🙂

    1. thesingledollar says:

      Thanks, and also, I owe you an email!

  6. Wow! Congratulations on reaching that milestone! I’m looking forward to the “How I did it” post. 🙂

    1. thesingledollar says:

      Thanks! I’m looking forward to writing it! Requires some Analysis of Spreadsheets so it might take a bit to put together.

  7. Chonce says:

    WOO-HOO! Congrats! And I love Ebates as well, but I shop online more than I go out and spend money lol. Still, $75 back is awesome!

    1. thesingledollar says:

      I just don’t spend money at all, which is how I got to $100k, which makes rebates not a huge part of my ‘income.’ But when I do have to buy something I love having the online option!

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