Based in Los Angeles, The Money Smiths is a blog comprised of thoughts related to personal finances, real estate investing, and musings on early retirement.

Net Worth Update #11: May 2019

Net Worth Update #11: May 2019

You can check out our latest net worth update here.

You can also find my personal net worth template here that you can download and use for your own tracking purposes.

We’ve seen some big swings in certain accounts this month, but overall the numbers are still trending in the right direction!


Primary Bank Account: $19,973.88

Change from last month: +6,375.24

Another large increase in our checking account. This month was a particularly large change, but that’s mainly due to Mrs Money Smith’s frequent travel schedule for work. We tend to receive reimbursements to the checking account at seemingly random intervals, so we never know when a large influx of cash will show up. I’m not a huge fan of having this much money sitting just in the checking account not doing anything, so I expect to change how much we move around in the coming months.

Savings Account: $2,576.65

Change from last month: +204.51

Another $200.00 in deposits for the month and a few dollars in interest accrued. You know by now that I’m not in a get-rich-quick mindset so as long as this number is continuing to trend in the positive, I’m a happy man.

401(k)’s: $72,333.78

Change from last month: (-3,055.92)

This has been the first down month for our accounts since our last check in January, 2019. I’m reading this as just a blip in the markets, but I also have a feeling that markets are due for a correction soon. This feeling comes from watching houses sit on the market for longer periods of time paired with this small dip in the market. I’m probably reading into this way too much, but if I make this statement and then everything crashes, I can promote myself as a fortune teller ;). (For more info on my thoughts about investing in stocks, check out this post).

Lending Club: $1,211.69

Change from last month: +39.44

We’ve added five more loans to this portfolio over the past month, so that’s always good news. Though you may have noticed that this account balance didn’t climb as much as previous months. I believe this has to do with the fact that my riskier loans are starting to have trouble with payments. This all continues to support my thoughts about an upcoming market correction!

Lending Club 2019-0601.PNG

S Pine Street: $375,000.00

Change from last month: None

This was a quiet month for the property. I haven’t heard anything from our tenants, which is generally the way I like it. We’re actually planning to get a trip put together to head out to the property for some inspections. I actually still haven’t met our newest tenant, so I’d love to stop by and show her that I’m a normal human as well. Not a day goes by where we regret this purchase.

Total Assets: $471,096.00

Change from last month: +3,563.27

Assets 2019-0601.PNG


Mortgage: $345,488.09

Change from last month: (-750.95)

We’re quickly approaching thirty thousand dollars in equity having been bought into this house by our tenants. That’s a pretty wild thought to me. We’ve had this house for about 3.5 years, and over that time we’ve been able to pocket rents while also simultaneously paying off the mortgage. To all my friends that are still wondering if real estate is for you, I hope you find some inspiration from how our story has gone so far! (You can learn more about our investment property here.)

Student Loans: $7,325.36

Change from last month: (-5,520.41)

This is easily the most exciting part of this month’s post - we’ve officially paid off the last of the student loans tied to my name!! While I’m proud to tell people about this accomplishment, it doesn’t feel as good as I thought it would. I credit this lack of excitement to the fact that we still have to finish paying the lowest interest loans under Mrs Money Smith’s name. Luckily, at the rate that we’re moving, these should be paid off in just a few more months. I think we will have to throw a party once we’re all said and done.

Credit Cards: $13,594.69

Change from last month: +5,473.67

As mentioned above, Mrs Money Smith has been travelling all over the world for various meetings and conferences, which lends itself to the majority of these amounts. While technically most of this account is reimbursable, I still get a little nervous when I see so much debt sitting in our credit cards that needs to come back out of our checking in a month.

Auto Loan: $15,784.62

Change from last month: (-141.62)

Another small adjustment to the one auto loan we have. Nothing exciting to report - though we’re still toying with the idea of paying this off next. My vote is ‘no’ because the interest rate is so minimal, but Mrs Money Smith hates debt entirely. I guess time will tell who wins that battle.

Mass Save Loan: $16,501.10

Change from last month: (-138.70)

No big movements here either. This loan will take quite a while to go away, but since it’s interest free - I’m alright with that.


Total Liabilities: $399,447.16

Change from Last Month: (-1,078.01)

Liabilities 2019-0601.PNG

OUR NET WORTH: $71,648.84

Total Change: +4,641.28

Trend 2019-0601.PNG
Ratio 2019-0601.PNG

Overall thoughts for the month:

May was full of huge wins for us - we paid off my student loans, our net worth crested over $70k, and our total liabilities are under $400k. While our assets didn’t move as much as I would like to see them move, (they never do), I think we can safely chalk this month up as another success for The Money Smith family. It’s fun to look at the progression of the charts that I sprinkle into this report, and watch as our investment property continues to become less of the majority of both our assets and our liabilities. To me, this shows that while we’re obviously focused on real estate, we’re still diversifying the rest of our portfolio and spreading ourselves out to other investments. I’m proud of the momentum that we’ve been able to hold onto over the past months.

Goal for next month

Last month’s goal was to finish paying off the student loans tied to my name, and I can safely report that this was accomplished! This was a long journey for us, but I know that I was able to accomplish this feat much faster than the average American. The ability to do so was obviously from the fact that we have two incomes working towards these debts, and the privileged nature of the world that we’ve both been able to grow up in. It’s important to always try to remember that not everyone gets to be so lucky, so we try to be mindful of that every time we accomplish something so awesome…That being said, the goal for this month is:

The goal for June is to take the time to sit down and really understand our finances as a family, to create budgets for our spending habits each month. This thought comes from knowing that we both have high incomes, but our savings rate doesn’t seem to be as high as it should be. Mrs Money Smith and I have already started to write down what our spending looks like, but now we need to actually put a plan into place.

Let me know what you're goals are down below in the comments, or shoot me a message on the contact page.

-Mr Money Smith

Net Worth Update #12: June 2019

Net Worth Update #12: June 2019

Net Worth Update #10: April 2019

Net Worth Update #10: April 2019