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Personal Net Worth Journey: September 2022

Welcome to the start of my personal net worth journey. Follow along as I build my income & investments as a stay-at-home-mom.

personal net worth budgeting and retirement assets

Hey there!

My name is Chantal – welcome to my site!

To give you a little bit of background, I am a stay-at-home mom on a mission to build my income and investments without ever abandoning my title of “homemaker.”

There’s a whole bunch of backstory here, but the short version of this tale is that I simply got tired of relying on my husband for money and I wanted to contribute to my family financially.

However, I still wanted the flexibility of being a stay-at-home parent and to work online (but for myself)!

Way back in 2014 when my first child was born, I went on an Internet deep-dive to figure out how to earn money without leaving home.

It all started with little side hustles like surveys and cash-back sites, but it eventually snowballed into a full-on obsession with blogging and the endless opportunities that it presents.

When I share my personal net worth, it is from money I have earned by myself online (mostly from blogging).

assets and liabilities net worth

While I have more than one website and have had many more in the past, this particular website is focused on helping moms stay home but also feel in control financially.

I help moms with frugal living, budgeting, and encouragement on the journey to having their own money.

This particular post is my first-ever report of my personal net worth.

Why Share Your Personal Net Worth Online?

I am starting from scratch and I love to be transparent. If we’re being honest, I totally regret not focusing on my own money earlier on in life.

While I trust my husband to keep a roof over our heads, we just do not have the same money values and attitudes.

It has caused a lot of tension and has been a point of contention time and time again over the last 10 years.

This is a very complex subject for me and I have a lot of mixed feelings about money.

In some ways, I want to NOT worry about being a breadwinner and just live a traditional lifestyle where my main concern is my home and my family.

However, society and family values make it very hard for me to be okay with my husband being the only one with an income.

Both of my parents hold PhDs and place a really high value on careers and money, with my mother being the primary breadwinner my entire life.

While my husband has always been able to keep our family afloat without my help, there is also this dream to break away from the typical rat-race lifestyle and live a more independent life.

In addition to this, after years and years of begging my husband to see money the way I see it, I realized that I can’t change him.

I want to be entirely debt free and and also be able to have time freedom.

Basically, I want to be free of the pressures of money and sleep well at night knowing I have plenty of it.

While I love my husband and in no way mean to speak poorly of him, I feel that I must have my own money and separate our finances somewhat in order to reach my goals.

Some years ago, I stopped financing things and have not put my name down on any notes I cannot 100% get behind.

My husband and I differ so much when it comes to money that I have been carefully & independently navigating my FI/RE journey for some time now. (FI/RE = Financial Independence, Retire Early).

As you can see, there are many different parts to my story that have influenced my desire to make my own money as a homemaker and share my personal net worth.

If you are currently a homemaker or you’re a mom without a high-paying career, maybe you can relate to my troubles.

Sharing this online will hopefully help others but it will also keep me accountable.

While I’d love to be able to rely on my spouse for money, and I come from a traditional Christian home, I have felt led to embark on my own personal finance journey.

One of the greatest challenges I have faced as a stay-at-home parent is the inability to control income or contribute to it. I have always felt immense guilt about not providing money and it has always made spending very uncomfortable to me.

personal net worth journey

I have felt as though my opinion when it comes to financial matters does not count because I haven’t been the one making the money. I’ve also been extremely frugal so that if money problems were to arise, they couldn’t be blamed on me.

But they sometimes still are – which brings me here.

These things are extremely personal, but I think that they are important to talk about.

My mission is to help other moms out there gain control of their personal financial trajectories in the event that they feel “trapped” when it comes to money.

So let’s get to my personal net worth and its humble beginnings!

What does net worth mean?

I’m not really a finance expert, but I have gone out of my way to learn about money in recent years.

In plain terms, your net worth is how much money you would have if you took all of your assets (the value of things you own) and subtracted that number from your liabilities (the value of your debt).

So if you have $10,000 in a savings account but have $5,000 in credit card debt, your net worth would be $5,000.

You can have negative net worth, AKA more debt than money, or your assets can outweigh your debt. You can also have zero debt, which is the ultimate goal for many of us.

Your assets include retirement accounts/investments, cars or other things of value that you own outright, savings accounts, homes you own, etc.

Your liabilities can include car or toy loans, credit card debt, mortgages, etc.

Some people choose to omit certain things (like a mortgage) from their net worth calculation, but it all depends on your financial goals and how serious you are.

Just like some financial advisors recommend having zero credit cards while others advice using them to build credit, you will need to assess your financial situation based on what you value.

I am the type of person who would rather live in a dry cabin in the woods than have a massive car payment or mortgage, but that is just me.

As for my personal net worth report, here is my general rule: I am only including things that affect my personal credit and accounts that have my name on them.

Like I mentioned earlier, I have had to separate myself from my husband a bit financially. He has debts that I refused to have any part in, and while we share a few main checking accounts, I am only tracking my personal money.

If my husband were to die I would become liable for his debts, but because I would sell all of the things he has notes on, I don’t consider them in my net worth. They are things I would rather get rid of and don’t need.

Keep in mind that this is what I have after nearly 10 years as a stay-at-home mom with little to no income. My financial literacy is improving little by little and this is my humble beginning.

Personal net worth journey of a stay-at-home mom. Financial independence and figuring out how to make money online!

Personal Net Worth September 2022

*As of September 13th, 2022.

Assets : (Things of Value)

1) Fitness Website – $22,500

I own and operate an established website in the fitness niche, and at last valuation about two years ago, it was valued between $20k-25k. Since it has since grown and improved in ranking and content, I would assume that its value has since grown. However, since I haven’t had it professionally appraised in some time, I’m keeping this number conservative until my next official valuation.

If I should ever choose to sell this site (per last appraisal), I would be able to cash out about $22,500.

*This is considered a non-liquid asset, meaning I don’t have the actual cash but I could sell for cash. 🙂

2) Savings Accounts – $1075

I have been squirreling little amounts of money away ever since my monthly income has become a bit more steady. (About a year and a half now.) While I would like this number to be way bigger, I’ve had to pay for unexpected things lately which took a big chunk out.

3) Investment / Retirement Accounts – $1787

Once I decided to start taking matters into my own hands, I started contributing to my own retirement whenever I could.

I know this number is super small (I’m 31 years old) but no one ever taught me about retirement accounts and I didn’t know how important they were until recently.

I started reading about investing and have since been contributing a steady $50-100 per month to my Roth IRA and then investing in index funds. Here’s to hoping this number grows over time!

My goal is to be able to make enough money to max out my annual contributions. I’d also like to be able to start contributing to some accounts for my kiddos. That means contributing $500+ per month to these accounts. I’m not there yet but I’m on my way!

Liabilities : (Money Owed/Notes)

1) Credit Card – $653

I removed myself from my husband’s credit cards in an effort to control and protect my credit score. I got this card because I needed to build credit. (This is a controversial thing in the world of personal finance but I want to buy my own rental property someday and this will help to improve my credit-worthiness.)

Since I used this card to pay for my business license, website hosting, and insurance, I have no guilt. I am confident I will be able to pay if off in a timely matter.

2) Travel Trailer – $8756

My husband and I purchased a small travel trailer a couple of years ago and for ages it was the only thing on my credit. The payment is very small and manageable, but this is still my biggest debt.

I have stayed on this account because it has improved my credit and I am hoping to buy an investment / rental house in the next two years. Before having this debt, creditors considered me a “thin file,” meaning there wasn’t enough evidence that I was a reliable borrower.

It’s stupid because I had no debt, but people won’t loan to you and your credit will be worse when you have no debt. (Compared to having a little bit of debt).

My next big purchase is going to hopefully be an investment with monthly cash-flow. So I do need to have *some* credit for the time being. (Until my monthly income improves by a bunch.)

Here are the numbers totaled up:

Total Assets: $25,362

Total Liabilities: $9409

Current Personal Net Worth: $15,953

That’s it, folks!

My Plan To Improve My Personal Net Worth

Failure to plan is planning to fail – and I do not want that.

While my personal net worth is on schedule to grow, it is SLOW. But slow and steady is better than nothing when you’re just a little stay-at-home mom! Here is my current plan for improving my net worth:

  • Continue automating my savings & retirement contributions each month. I have these set to transfer automatically two days after I get paid each month.
  • Stay current on loan / credit card payments.
  • Pay an extra $20 on notes in months where I can afford it.
  • Continue to increase my fitness blog income by creating more content and improving my site.
  • Creating more content for this website so it can grow and become a money-maker in addition to my fitness site.

Now that we are approaching the holiday season and spending will inevitably increase, I am not setting any outlandish goals.

I’m focused on putting my head down to increase my monthly income. (Read about how I’m making my money online in this post.) It currently comes primarily from my existing website, though I hope to grow this one, too.

That’s it, y’all!

I hope that this little report helps you.

Chantal

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