2019 is already over. This year seemed to fly by. Since this will be my last personal update of the year it is a good time to look back and review 2019 from a personal finance standpoint.
Wealth Building
2019 was a very good year for my portfolio. I’m up just over $70,000 for the year. That is a gain of around 11% on the year. And, as predicted, my portfolio topped the $700,000 mark. No complaints here.
Debt
Here is a breakdown of my debt:
| Debt | Last Update | Current Update | Change |
| Line of Credit | $1,878.58 | $1,790.53 | ($88.05) |
| Truck Loan | $16,596.97 | $15,887.77 | ($709.20) |
| Student Loans | $34,790.36 | $34,790.36 | $0.00 |
| Mortgage | $184,463.68 | $184,463.68 | $0.00 |
| Total | $237,729.59 | $236,932.34 | ($797.25) |
Down about $800 more since my last update. Less than I would have liked, but Christmas presents and some building materials for camp slowed my debt repayment a bit. Also, there is a timing issue with some of these. My mortgage and student loans won’t draw until early January, so those will be listed on my next update.
Overall, for all of 2019 my debt has dropped by $14,000. That is a drop of around 9.5%. Not a bad year, but I will be looking for ways to accelerate this in 2020.
Income
I finished the side job that I’ve mentioned in the past couple of updates. I was paid an additional $75 to finish the cabinets, so total for this job was $375. I do have a few leads on other projects, but nothing concrete right now.
Changes from last update
Nothing major has changed other than Christmas shopping which was planned. I have a long weekend trip later in January, but it will be inexpensive, and cash flowed. The biggest change is the coming of a new year, new goals, and more progress on wealth building and debt reduction.
That’s it for now. I hope that everyone had a wonderful Holiday season and has a happy New Year. Until next time.
See Also:
Personal Financial Update, December 2019
Building Wealth Is Easier Than You Think
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.
