Welcome to the new monthly status report! Now that I am no longer employed by anyone, I figured it was time to change up the format of the status reports. I didn’t want to get rid of them entirely as I feel it’s important to share what transitioning to self-employment/Financial Independence looks like.
I’m going to break out my personal spending still, but it’s going to be on a higher level than I had been doing considering I split some expenses with my boyfriend now.
Other sections include expenses and income for various endeavors, like separate sections for blog spending, rental expenses and income, and any other side hustles I have.
Disclaimer: some links may be affiliate links. They help offset the cost of keeping this blog running!
Why do I do a monthly status report?
I find it best to do a monthly status report for a few reasons.
- It helps me evaluate how I did the previous month. Did I spend a lot of money on something? Why? Did I earn a bunch of money on something? Can I do that again?
- It helps keep me accountable. How can I make an extra purchase knowing I’ll have to explain myself to all of you? Talk about awkward when the blogger can’t walk the walk and talk the talk.
- I want to prove this crazy thing called financial independence works!
- It provides an example of real world budgeting and expenses. Some of the people I talk to haven’t ever seen a proper budget or seen one put into action, and part of the purpose of this blog is to lead by example!
I use Mint to help me track my spending and keep an eye on my accounts. I also use a really awesome and super in-depth spreadsheet. So many formulas….. Some people use Personal Capital and others use You Need a Budget (YNAB). Whatever tool (or combination thereof) works best for you and your needs is the best one for you, since everyone and their budgets are different.
August 2018 Personal Statement:
August was a fun month! It started out with a bang as I drove to Wisconsin to hang out with my sister and her family for the weekend in Wisconsin Dells at an indoor waterpark resort. I got lots of Auntie time which I love since it’s been in short supply as I’ve moved further and further away from them.
Then I spent a few days not having fun as stress and exhaustion tanked my immune system. The flu in August is no fun at all, but I pulled through it thanks to some generous helpings of Nyquil and Dayquil.
I wrapped up August with a super fun weekend with my financial independence friends as they descended on Minneapolis for Camp FI Midwest. I spent a day having cheap fun at the Minnesota State Fair with them, and then we moved on to enjoying ourselves at the retreat center. Check out my recap for more details!
Notes: Obviously I would like this to be zero but it’s not. I have bills to pay even if money isn’t coming in the door. Being self-employed is fun.
August 2018 Blog Statement:
- ConvertKit: $8.70
- Course affiliate link: $22
Expenses: $615 (between podcast & blog stuff)
August 2018 Rental Statement:
Note: My tenants are severely behind on their rent. I was also expecting the sale to go through this month but instead it stretched into September. Ugh. Any day now. My accounting around this is a mess.
August 2018 Money Makin’ Endeavors Statement:
- Etsy: $4.59
- Interest: $1.15
- Stained glass: $20
- Studio monkey work: $140
- Gas money: $10
Combine it all together and.…
Net worth: $216,838
Look guys! My net worth is up $4k this month! Woo!
.….or at least it would be if I could spend any of that money lol. All the growth is thanks to the continued bull market and my hefty 401(k) that I can’t touch (or won’t touch). Life sure would be a lot less stressful if I could though!
Thanks for reading! What did your month look like? Did you stick to your budget?