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Personal Balance Sheet, January 2010

This article was written by in Monthly Update. 18 comments.


Entering the second month of the year, the new decade is officially underway. It’s time to peek into my bank accounts and investments to see how I’m doing so far. But first, I should take a quick look at the goals and resolutions I set for myself this year.

The first goal is to maintain a six-figure income outside of my day job. According to Quicken, I earned over $11,000 this month from various sources not including the work I do from 9:00 to 5:00 or so each day. This month’s income was likely higher than it will be on average for the rest of the year unless I make some significant changes to my life and some progress on new projects. For now, it looks like I’m on track to reach this goal.

My next goal is to maximize my 401(k) investment, and that hasn’t presented a problem so far this year. My non-financial goals are presenting a problem, however. I haven’t made much progress in my attempt to get into shape and I haven’t reached the point where my apartment is consistently in a presentable appearance.

Here is my net worth report. I post this every month to keep myself accountable. The bottom line is down this month, mostly due to estimated taxes paid and a lack of growth in my investments. Although I surpassed $300,000 at the end of 2009, I’m back below that mark for January.

Continue reading to see the numbers.

Net Worth Balance Sheet, January 2010

Published or updated February 3, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 9 comments… read them below or add one }

avatar Money Funk

I enjoy your balance sheet and would love to know the behind scenes of your wealth making efforts that continue to rise each month, per your goal quota. :)
You said you build online communities. Besides Consuemrism Commentary, what other online communities do you hold Trump to?

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avatar Luke Landes ♦127,387 (Platinum)

Nothing nearly as big as Consumerism Commentary, but I write elsewhere.

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avatar Financial Samurai

Nice work Flexo. The funny thing is, if I was making $11,000/month from my site and other online means, I think I would quit and move to Hawaii!

You’ll have to slowly share your secrets with us one day. Hope to join you in 9 years when I officially do retire.

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avatar Luke Landes ♦127,387 (Platinum)

It’s not a consistent $11,000 per month. That was the income for January, but that includes some long-term ad deals paid up front. I expect the income for most months will be somewhat less.

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avatar Monevator

Are you not tempted to invest more of that cash in the bank, Flexo? I know I probably take things to extremes (besides my well-stocked emergency I treat cash as wood chips to stoke the investment engine) but the opportunity cost has been painful in recent months. Then again, you can’t argue with the sense of security.

Congrats on that six-figure blogging income, by the way. Like @Sam it sounds a dream to me, though I think like yourself I’d probably keep working for a while longer if I enjoyed it.

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avatar SavingEverything

It would be interesting to see how your monthly expenses break down; all this and you own an apartment? How much do you spend on groceries, eating out fast food or restaurants, electricity-gas-oil and heat, netflix, grocery store rentals, alcohol, gas for your car, car and home insurance, internet, webhosting sites, and others. Can we get an idea of where your cash is mostly; is it in a checking account earning 0.05% or no interest; or, is it in a mixture of high yield savings accounts, reward checking, and regular bank savings’ accounts?? What are your biggest expenses on a monthly basis, besides your mortgage or rent? How much of your $11,000 income is from random people clicking ads on this site? What is your expenses total for this webblog and your others total? Do you have to pay into social security taxes, medicare taxes, and fica (6.2% + 1.45%) for your monthly income from your various side jobs as a self-employee? Is this included in your monthly balance sheets? Does the income include any referral bonuses for opening up an Ing accout or a brokerage account, that have refer-a-friend bonuses?

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avatar Luke Landes ♦127,387 (Platinum)

That’s a lot of questions. I’ve already answered some when I was including income/expense reports in my monthly financial updates, so you can find those here. I’ll respond to more of your questions in a future post.

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avatar Hopeful

It is really cool that you keep yourself accountable for your monthly statements. Great work on your income!
I have just at 100k, extremely low expenses, not been investing. At 30yrs old, what do I do with this money is what I ask myself everyday. I earned this with stocks and lost a lot too experimenting, but a few years ago I lost my nerve when I reached this amount. I lost thousands more every year, I gave up. The savings interest is garbage compared to what could be if I knew what to do. I play stocks without money and have been doing terrible.
It’s uncomfortable to me to have this little bit of money since I am the only one in my family and peers to have anything like this. However, the funny part is, I live more modest then they do, very minimalist. It would “feel good” to buy nice things, but I fear to loose this to the point that I should forget I even have it. I feel more comfortable knowing that I am poor and live poor. I tithe at church but the funny part is, it’s only the 10% of the interest earned which is meager and if they knew, it would be embarrasing.
Wish to be more like yourself and do something with it.
Thank you for the website, very informative and insperational.

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avatar TheInfoPreneur

HI Flexo,

I was recently pointed to this site after a recent post on my site ‘I rank higher than probloggers, but make no money’ (Didn’t want to link just incase it’s not allowed)

Where else do you write? How long did it take you to reach this level of income?

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