January NET WORTH UPDATE

We've spent a lot of money the past few months and here is our net worth update for January 2024.
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[@rongparker]

Nice job! KZbin suggested I watch your video today so I did. Thanks for being a stay-at-home mom taking care of your large family, your own business as well as being a smart money manager. Great combination! My wife and I did something similar.

[@BrittanyFlammer]

Thanks for watching and commenting!! I’m glad that worked out for you and your wife.

[@KatieoftheHouse]

Thanks for sharing! I love these videos but it’s rare to find channels who are willing to share. I love that you don’t sweat the decreases! I always say that you can’t control the housing market, so if it goes down, no need to stress over it 😊

[@BrittanyFlammer]

Thanks. Just trying to keep it real!

[@Intotheunknown89]

Good to see progress excluding house value.

[@BrittanyFlammer]

Yes! If I were to go back, I think I would just keep the value of our home at the purchase price....but at this point I'd hate to loose a few hundred thousand dollars on our net worth!!

[@katonk9401]

This is very informative seeing how to keep a wealth flow sheet. Also I wonder if it’s best to max HSA since it is like a combined IRA and Roth IRA.

[@BrittanyFlammer]

Yes - maxing out your HSA can be a great option. It's got a triple tax advantage. We no longer have an HSA so we can't do that, but if you have one it's a great option as well.

[@Yugiboii]

I like to keep my house value in my net worth statement at its purchase price, too much hassle having to look it up lol

[@BrittanyFlammer]

Yes - that is a good solution. It also lets you see how your net worth is doing based on your actual savings as opposed to housing market. Thanks for sharing!

[@MacD2029]

Love the video, just curious how one can afford an almost 700k house on a 40k income?

[@BrittanyFlammer]

Thanks. Good question. There were several factors. The house was only worth $500k when we bought it, my husbands income doubled, we had saved over 100k for the house, and we had a lot of equity in our previous house. We lived in one side of a duplex and rented out the other side for 5ish years. We sold this and put all of the equity into the down payment for our current house. Since we had such a large downpayment and our income has gone up, it's about 25% of our pay.

[@mreit28]

Who gave you the huge payment for the equity on your house

[@BrittanyFlammer]

We owned a duplex before this house for 5+ years. We had renters in one side and we lived in the other. We sold the duplex-so we had lots of equity in it plus about $100k we had saved while we were living in the duplex. Also- our house has increased in value about $150k since we purchased it