Net Worth Update: July 2018

It’s that time again! My final paychecks from my old employer are being paid out on a different schedule than I expected, so I didn’t quite make it over the $100,000 mark — but I got pretty close, and am hopeful about next month’s results. Let’s go straight to the numbers:

This is a bit iffier than intended. I was talking a good game on twitter at the beginning of the month about spending nothing in an attempt to get over the $100k mark. But then I gave my housemate a couple hundred dollars for porch furniture, bought an expensive ergonomic pillow, took a (cheap, but still) driving trip to visit a friend, and generally behaved like a person who is employed instead of a person who is freelancing. I’m hoping it was just an adjustment month and in August I can work on being as frugal as I’ll need to be to make this season of volunteering/freelancing work.

Details…I already mentioned most of the interesting ones! “Repairs” represents finally getting my laptop battery replaced. My computer is from 2012 and I hope to keep it going for years to come; I’ve put a solid state hard drive in recently and it’s hugely improved performance. But the battery (which hadn’t worked properly in years) really needed the change. I’m typing on my front porch right now without really worrying about whether the computer will shut down. Worth it.

Professional expenses: bought several more copies of my book, having given away most of the author’s copies. “Summer” is a category I keep around for concerts and bulk fruit purchases; this month I froze and/or canned many pounds of sour cherries and blueberries.

Finally, I had all this money budgeted for “moving” and barely needed to use any of it — which was great, since it enabled me to have a fairly normal budget month overall despite what felt like a series of expensive purchases.

Now let’s do the exciting part!

I think this might be my biggest ever net worth growth month. About $2000 of it came from growth in my retirement accounts — both contributions and trading-driven increase. I was able to put the two paychecks I received this month, totaling $3166, straight into my life fund, because my August expenses will be covered by the $1578 of freelance payments I received during July. That’s where the rest of the growth comes from.

I’m setting 25% of freelance income aside for taxes, by the way. It may be unnecessary this year because of excess withholdings from my W2 job but I figure better to have it than not, right? I can always rebudget it next spring. As a result of this, my checking account is likely to be larger than usual going forward. I currently have over $600 in my “freelance taxes” budget line and that’s all just going to stay in checking until tax time.

Oh, and my emergency fund dropped a little because I used it to pay for the tow truck and two new tires I needed after blowing one out in late June. But even though I pulled over $300 out of it for that, my regular contribution plus the two “extras” I discussed last week mean that the account didn’t shrink nearly that much. #win.

Anyway! All in all it was a pretty terrific financial month. My net worth grew $6107 and now stands at $98124!!!!!! If all goes well, I hope to see $100K next month. Keep your fingers crossed.

14 thoughts on “Net Worth Update: July 2018

  1. Isabella says:

    Wow, It’s just amazing how far you have come from your nightly dinner of cheese sandwiches. Kudos!

    1. thesingledollar says:

      Oh hey I still eat a lot of cheese sandwiches. They’re delicious! 🙂

  2. Abby says:

    Shouldn’t your grocery line be in the red??

    1. thesingledollar says:

      Oh yes, it should! I missed turning the color on that one.

  3. Church says:

    Incredible month!

    Because we are all at the mercy of the market, I’ll say that your Life Fund savings is amazing!

    Keep it up! Push through that $100k marker!

    1. thesingledollar says:

      Thank you! With some luck I should get there this month!

  4. Congrats on the big month! The best part is that it happened even while you had regular and irregular expenses come up so this isn’t a fluke windfall situation.

    1. thesingledollar says:

      Alas it is kind of a fluke because I won’t have both full-time and side-hustle income after this. But I’m very glad I was able to take advantage of the odd situation!

  5. Hey C!

    A 6k net worth jump in one month?! WOOT WOOT! Yeah!!!
    Fat cat in the house! You’re so close to $100k now.

    Congrats on your book! It sounds like you are also enjoying the sun and summer, which is awesome.

    1. thesingledollar says:

      Thank you! I am trying to enjoy the summer — there’s a lot of miasma hanging around/over my life but individual parts of it are great 🙂

  6. Chonce says:

    So darn close to $100k! And nothing wrong with splurging every now and then, I have faith that you’ll reel it back in this month.

    1. thesingledollar says:

      Yeah, so far so good in August! Trying to keep it up.

  7. haha… i’m so glad I found you!
    didn’t know there was another single 30 something out their chronicling her personal/personal finance journey.
    let’s link up!
    Curious, why you’re not peddling bluehost or something similar? or on an ad network?
    Trying to figure out for myself how much effort i want to put into monetizing my blog…

    1. thesingledollar says:

      Cool, glad to hear about your blog! I do have an amazon affiliate and a couple of others, and I run google ads on the blog. But I’m uncomfortable aggressively monetizing a blog that’s fundamentally a personal record and about frugality. If I ran the site more professionally and as a service for readers, rather than as a pretty simple diary, I’d try to monetize more. But that would be a very different blog than the one I do in fact have!

Comments are closed.