January 2020 is already coming to an end. I can’t complain too much, as this winter has been mild for the most part. I haven’t had to plow my driveway yet or shovel much snow. Heating costs are also keeping low this winter. So, how are my finances fairing as we head towards February? Here is a snapshot of what’s going on with me.
Wealth Building
My portfolio hit a new record with the continued rise of the markets. I hit a high of $722,000 a couple of weeks ago. I’ve been thinking about making a couple plays on the most recent downturn and virus scares coming out of China. Travel, airline, and oil stocks are getting battered. It might be a good time to deploy some cash into those areas, as they will surely recover.
Debt
Debt continues to shrink. It gets frustrating at times, but I know this isn’t a sprint. It’s more of a marathon, so I just need to stay focused and stay on it. Here is the latest breakdown.
| Debt | Last Update | Current Update | Change |
| Line of Credit | $1,790.52 | $1,753.14 | ($37.38) |
| Truck Loan | $15,887.77 | $15,513.10 | ($374.67) |
| Student Loans | $34,656.84 | $34,656.84 | $0.00 |
| Mortgage | $183,959.91 | $183,959.91 | $0.00 |
| Total | $236,295.04 | $235,882.99 | ($412.05) |
So, down a little over $400 since my last update. I’m doing two updates a month, so I’m down over $1000 for the month of January. Not bad, but I’m always looking for ways to improve and accelerate this number. I could make more budget cuts, but I feel that an increase in income would serve me better and work much faster.
Income
Holding steady in this category. I don’t have any side work lined up as of this writing, but I’m always looking. For now, I’m just working my full-time job and doing my website work.
Personal Side Note
On a personal note, I’ve really been hitting the gym hard for the past couple of months. I got away from it towards the end of summer due to a crazy schedule, but I’ve recently been making time to get back into the swing of things. I’m looking better and feeling better. Although not directly related, I do think that something can be learned from going to the gym as it relates to budgeting. Both require discipline and dedication. Both demand a certain level of commitment and focus. Finally, neither is a journey that can be completed overnight. You’re in it for the long haul with both.
Changes for Next Update
February is fast approaching and Spring won’t be far off. It’s time to start making my list of projects to do around the house. I’ll be doing them myself to save money, but so far I have to seal my driveway, paint my front porch, stain my deck, fix a rotten board on the pool deck, and replace some trim and a downspout on my garage. The list is getting longer by the day, but I’ll just be tackling one at a time once the weather breaks. Until next time, keep working towards your saving and investing goals.
See Also:
Personal Financial Update. Part 3. DEC 2019
Personal Financial Update. Part 3. DEC 2019
10 Productive Things To Do When You Are Bored
How To Make The Debt Snowball Payment Strategy Work For You
Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.
