September 15, 2019
progress

July FI Progress

Hi Pocket Changers! My oh my, July flew by! Granted, we’ve been busy working on a ton of projects at home, but still, we are closing in on the end of the year! Our life is starting to settle back down into some sort of normalcy I think.

As you may have noticed, the blog posts have slowed down a bit. That’s primarily because I want to provide you with new information that may be useful instead of writing about the same old thing Wednesday after Wednesday.

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Investment Changes

We haven’t made any further investment changes at this time, but I have started the process of applying for a Vanguard brokerage account. I plan to use this account to invest in the Vanguard ETF (Exchange-Traded Fund ) VTI. This particular fund has a low buy-in option of a single share at the current price (as of yesterday it was $145.12) instead of the higher options of $3,000 or $10,000. Since we’re living that Pocket Change Lifestyle and don’t have thousands of dollars floating around currently, this is the route we’ll take.

If you haven’t readĀ The Simple Path to Wealth by J.L. Collins yet, he suggests investing a majority of your savings in one or two index funds, but primarily the VTSAX. The VTI that I mentioned above is identical in its holdings, but again, has a lower buy-in option for folks who can’t swing that initial $10,000 deposit.

Challenges

July has had several challenges, mostly surrounding HOW and WHEN we’ll complete projects. We’re quickly learning that it’s extremely easy to justify spending more money to start/finish a project instead of creating a spending plan. In addition, we’ve been trying to focus on what projects have more urgency, considering we only have so much time in a day/week we don’t want to do random projects just to do them.

Goal Updates

July was interesting because we have made some minor adjustments to our budget (adding a mortgage does that), but our net worth jumped a little bit, bringing our timeline up from March 2019 to December 2018. This is primarily due to the value of the home according to Zillow (a great app to search for a new home). We’ll take every step to our goal that we can get!

Looking Forward

My goal for August is to create some sort of spending plan per project so we don’t go overboard on our budget. Since we putĀ everything on a credit card to earn points, this is a slippery slope, so we of course want to be careful we’re not spending more than we should at any given time.

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