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.
September 2018 Personal Statement:
Woo! September was a whirlwind of stress, anxiety, hard work and FUN! I started off the month celebrating as I got my hands on the check from selling The Dingle House. I have money now! I’m not flat broke! WAHOO!
I also spent a good amount of time prepping for FinCon 2018 in Orlando and even got to sneak in a visit with my family back home. October looks like it’s going to be less busy event wise, but more busy work wise so thank goodness for that! Overall I’m feeling much more positive about this whole freelancing thing than I was a month ago.
Notes: Overall, I’m pretty pleased with keeping my spending in check. Having very low costs for FinCon really helped here!
September 2018 Blog Statement:
- ConvertKit: $8.70
- Siteground affiliate link: $50
- Coaching: $550
Expenses: $515 (between podcast & blog stuff)
September 2018 Rental Statement:
- House sale!!: $11,024.85
- Refunds: $1,472.96
Note: I’m done with The Dingle House! WOOO!!!! I finally made money off the rental! I have yet to do full accounting of this, but I know I have two more payments to make to tie off the loose ends.
September 2018 Money Makin’ Endeavors Statement:
- Interest: $1.12
- Stained glass: $45
- Studio monkey work: $40
- Misc: $45
Combine it all together and.…
Net worth: $203,295.43
I feel much more solid knowing that my number are actually my numbers instead of inflated slightly around the value of the house. I also realized I’m completely debt free again and I LOVE IT! Having debt is like having an invisible cloud hanging around your head. Even though mine was “good debt” I’m happy to have gotten rid of it! Sure, my net worth went down on paper because I sold it, but I consider this to be the real number.
More importantly, that cash number is up so I feel like I actually have more money now than I did last month. Having easily accessible cash does wonders for the brain!
Thanks for reading! What did your month look like? Did you stick to your budget?