June was not a good month for the stock market as the S&P 500 and NASDAQ were down significantly this month. In fact, this year has not been a good year for the stock market. Apparently, this is the worst first half of the year for the stock market in over 50 years. Despite the poor start to year for the stock market, I continue to add to my savings, collect dividends, trade options and keep on investing. In the long run, following my plan even in tough times should work out. Let’s check out my financial update for the month.
Spending/Savings
Spending was down this month. There were no major purchases that were made. I have been making some adjustments due to high inflation. To help keep the grocery bill down, I have been planning out meals a little better. I also plan my trips better so that I can do most of errands in one trip to help save some on gas. As a result of the decrease in spending, my savings is up this month. The emergency fund is now pretty close to being fully funded. My savings rate jumped back up this month to 24.37% which is close to my goal of 25% for the year.
Dividends
This month set a record for the most dividends received in a month. I fell just short of $500 for the month receiving $498.40 in dividends. Compared to June 2021 the amount of dividends is up $138.04. This is a whopping 38.3% increase year over year! For the year, I have received $2,063.85 in dividends. As a result, I am 51.6% towards my goal of collecting $4,000 in dividends this year.
Options Premium
June saw my lowest total so far this year in options premium, collecting only $189.86. This total is down compared to last year when I collected $215.19 in options premium in June 2021. So far this year I have received $3,104.82 in options premium. As a result, this puts me at 51.7% towards my goal of $6,000 in options premium this year.
Interest
Interest income this month was up to $15.72. The rise in interest income was due in part to the increase in savings this month but also to meeting all the criteria in my Varo Bank savings account to receive 5% interest. For the year, I have received a total of $53.77 in interest income.
Income from Investments
The total amount of dividends, options premium and interest totaled $703.98 for the month of June. When compared to the $581.52 I received in June 2021, my income increased by $122.46 year over year. For the year, the combined income is up $5,222.44. This works out to about $870.41 a month.
Debt
The total amount of debt went down by $485.67 this month. This puts me at about 20.9% of the way to reaching my goal of having less than $100,000 debt by the end of the year. Now that the emergency fund is built back up I can focus on paying down debt but it may be a case of too little, too late to reach my goal.
Traditional IRA
The Traditional IRA finished the month at about $110,532. As a result, this account is down -$8,827 from last month. Year over year, this account is down -$6,162 from June 2021. I believe this is the first time I have recorded a year over year loss. The projected annual dividend income (PADI) has increased to $4,045.65. This is up $99.30 over last month.
Roth IRA
The Roth IRA finished the month at about $3,376. As a result, this account gained $70 over last month. When contributions are factored in, this account finished down for the month. Year over year, this account is up $2,752 from June 2021. The PADI moved up again this month to $189.33. This results in a $15.05 increase in PADI over last month.
401k
The 401k finished the month at about $12,130. As a result, this account is down -$93 from the previous month. The account would have been down quite a bit more if not for the contributions made this month. Year over year, this account has grown by $4,192 since June 2021.
Taxable Brokerage Account
The taxable brokerage account finished the month at about $331. As result, this account is down -$5 over the previous month. A contribution was made to this account this month otherwise it would have been down more. Year over year, this account has gained $38 from June 2021. The PADI remained at $1.62 this month.
Cryptocurrency
The little bit of bitcoin that I have finished the month around $11. This down around -$7 from the previous month.
Total Investments
The total amount invested is now about $126,380. This results in the total amount invested dropping by -$8,862 month over month. Year over year, the total amount invested is up by about $831 from June 2021. All of the positions I invest in can be seen by clicking “Overall Portfolio” in the menu above.
The combined PADI for my accounts is now at $4,236.60 which is up $114.35 from last month.
Net Worth
My net worth tumble back down this month to $73,469. As a result, my net worth is down -$4,358 from last month. Year over year, my net worth has increased $27,336 from June 2021.
Financial Update Conclusion
There was good and bad in this month’s financial update. On the good side, my savings rate was up, I received a record amount of dividends for a single month and my PADI continues to grow. On the bad side, my account values dropped as well as my net worth. I am not too concerned with drops in account values and net worth. I cannot control what the market does but I can control how much I save and invest and continue to grow the income my accounts produce. That’s it for my financial update this month. Thanks for following along!
*Disclaimer – I am not a financial professional. The information shared here should not be considered financial advice. I am just a factory worker sharing my experience as I strive to achieve financial freedom. Before investing or making any financial decision do your own research and due diligence or consider seeking the advice of a financial and/or tax professional.
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Up to 5% Savings Rate!
I use Varo Bank for part of my emergency fund. From time to time the bank will run promotions. Currently, you can earn up to 5% on your savings with Varo, if you meet certain requirements. I got us both $50 from Varo.* Just open a Varo Bank Account using my link below, spend $20 on your new debit card, and we’ll both get paid. https://varomoney.com/r/?r=William360
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Investing Made Easy
I use M1 Finance for my taxable growth account. M1 Finance offers promotions for signing up. At the time of writing this post, the promotion is for $10 but will vary from time to time and could be up to $50. If you are interested in M1 Finance and want to support the blog here is my referral link: https://m1.finance/ktIiFeOI5zDr
If you use the referral links listed above I could receive compensation. Please take the time to read the terms and conditions before signing up.
Hi there, thanks for sharing your monthly diary about savings, and different sources of income. Congratulations for your efforts on saving money! I am trying to do the same with my family budget since last year, and it’s great to find people with the same goal. Keep going!
Thanks Antonio. It’s great that you are taking charge of your finances.
Hitting that $500 mark would have been so nice…definitely will nail it in September. Glad to see you are slightly ahead on your annual goal as long as market prices stay down or trade sideways you should be able to capitalize and close out the year on target,
$500 of dividends for the month would have been really nice. It is just a matter of time before it happens as long as I stick to my plan and keep investing on schedule. Thanks for following along!
Hi Bill, congrats on the record dividend income in June… so close to $500. You notched some outstanding YoY growth as well. Supplementing the dividend income with options income is great, too. I used to write covered calls and cash-secured puts a while ago, but stopped. I hope to start again in the future.
Keep up the terrific progress… I’m sure you will thanks to that nice savings rate.
Thanks for the encouraging words. I am going to continue to follow my plan and build my accounts up.