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.
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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.
July 2018 Personal Statement:
Notes: I’m happy my spending stayed low-ish for July. I spent a fair amount, but like I said in the last post, it’s more than the money. At this rate, I’ll be able to hang onto this self-employment thing for at least a few more months.…
July 2018 Blog Statement:
- ConvertKit: $8.70
- Teespring: $55
July 2018 Rental Statement:
July 2018 Money Makin’ Endeavors Statement:
- Etsy: $67.62
- Interest: $1.58
Combine it all together and.…
Net worth: $212,209
Notes: My net worth didn’t actually go up that much, but I decided since I’m selling The Dingle House for $99,900 I might as well up date the house line in my spreadsheet. I’ll be the tiniest bit sad to see it go down when I sell the house, but it will be so eclipsed by the happiness I’ll feel getting rid of it that I don’t think I’ll notice.
Drug dealers suck.
Until then, I’ll enjoy the artificial boost to my bottom line!
Thanks for reading! What did your month look like? Did you stick to your budget?
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