After posting my recent Income Report for last month I became a little depressed. While I know I’m not doing the things that I should be doing to achieve the results that I’m after, I’ve still been busy, so I expected better results. Last month was an all time low of $361 profit. That’s below the poverty line in almost any country and I’m living in one of the most expensive countries so this simply isn’t good enough.
So I started looking over the numbers from the past six months to see if I had done anything at all right! And surprisingly I found that I’m a much richer man now than I was when I started this journey 6 months ago. I don’t mean richer in knowledge or happiness or friends, I mean richer in net worth. Every month I became a little wealthier than the previous.
Feelings and Emotions Deceive
I almost quit doing the Monthly Income Reports as they were becoming rather stressful. My income was going down instead of up and I was feeling like a big ugly failure. I knew I was thinking better, feeling healthier, eating better, focusing on positive things, and avoiding all the negative habits that I had fallen into but I still felt like I was going backwards financially.
And that simply wasn’t true. Admittedly I was doing poorly with my income but I definitely was not going backwards with my savings and investments.
The average monthly profit from my new Internet venture has been a pithy $744. In Australia this is below the poverty line income. Beggars and bums would look down on me if they knew how much I was earning.
Fortunately I also have my Ecommerce venture helping me out. I’m making between $1000 and maybe $2000 per month with that but I try to reinvest that back into the business as I’m always low on stock.
Dividend income and rent from my investment property has been the other helping hand in my increase of wealth.
Increase in Net Worth Over 6 Month
So, even though I felt like I had failed miserably I still managed to increase my net worth by $5,370. That’s an average of $895 per month since I started. I don’t know what the statistics are but I’m pretty sure that’s good compared to the average person in the west. I don’t think the average person saves anything, they live pay cheque to pay cheque.
Which made me think I shouldn’t be so hard on myself. The problem is that I have decided to be much more than comfortable. Comfortable really is just slavery with lipstick on. It’s not fooling me and it shouldn’t fool middle class wage slaves.
The $5,370 is made up of investments, savings and decreases in debt. So it’s not including cash, things that I could sell, or real estate appreciation. It includes..
- $1,401 stocks
- $500 car fund
- $726 my share of the family fund (stocks)
And I decreased my mortgage by $1,824 and my credit card debt by $919. So assets rose by $2,627 and debt decreased by $2,743.
Financial “experts” will tell you to focus all your efforts on paying down debt but that doesn’t excite me in the least. I need to see assets and investments increasing at the same time as debt is being paid down.
Over the past 6 month I have increased assets ($2,627) as much as I have decreased debts ($2,743). That was by accident though as I haven’t been keeping track of how much my net worth was increasing or decreasing by.
I’m pretty happy with that. I’ve been so focused on one source of income that I forgot about everything else.
I’m now feeling RICHER because I AM Richer 🙂