I don’t know about you, but July passed in a big blur for me.
My friend S moved away on July 1, which is also the day that I turned in my resignation notice at my full-time job. I had planned to quit effective July 15, but they asked me to finish out the month instead.
While this helped me out financially, it made my schedule a little extra crazy at the end of the month during our County Fair. I’m on the board for the fair and I pretty much live on the fairgrounds that week, but this year I was also trying to tie up loose ends at my full-time job and get ready for full-time freelancing the next week.
With all those things going on, July was crazy. Here’s a summary of how my month turned out.
- Increase emergency fund savings account to $1,500. – Pass-ish – I increased my emergency fund by $24.84 in July. This is less than my monthly target of $83.33, but I’m still hoping I can meet this goal.
- Demolish $5,000 worth of debt (principal). This works out to $416.67/month. ($5,000 goal includes mortgage debt pay down.) – Pass-ish – I had a debt increase of $109.44 this month due to my fence project. Luckily, I have paid extra in other months. Hopefully this will be enough to help me reach my goal for the year.
This also includes paying off my 0% interest promotion for my computer by October 2015.– DONE!
Paint and prep home office by April 13. (My birthday!) MUST BE USABLE BY THIS TIME!– DONE!
- Attend FinCon15 and pay for everything in cash! – Pass – I continued to save money for my trip to FinCon15. I have my conference ticket purchased. I booked my round-trip flight, and I have my hotel room reserved. I have enough saved up to pay for my hotel room and all of my other estimated expenses too. FinCon15 here I come!
Quit my full-time job by December 31,2015 to freelance full-time. (I may pick up some additional hours at my part-time job to help make ends meet for a while.)– Pass – I quit my PT job in June and I quit my full-time job effective July 31! Limit spending on clothing, shoes, and accessories to $500 for the whole year!– Fail – I’m not tracking this anymore.
- Get rid of more books throughout the year than I get. – Pass-ish? – I got rid of a ton of books in my garage sale. I have only gotten 2-3 new books this year.
6/30/2015 – $130,565.16 (including mortgage)
$15,609.17 (w/o mortgage)
7/31/2015 – $130,674.60 (including mortgage)
$15,935.61 (w/o mortgage)
Difference – +$109.44 including mortgage
+$326.44 w/o mortgage
6/30/2015 – $884.95
7/31/2015 – $909.79
Difference – $24.84 Increase
|Side Income Required||$500.00||$500.00+||-|
Not too many changes for my July spending. Although I did decide partway through the month to discontinue my gift spending for now. I haven’t found it convenient to have that money sitting aside at a different banking institution where I can’t easily get to it for my gift shopping. Therefore, whenever I go gift shopping I’ve just been paying for it out of my regular account anyway. (Usually with extra side hustle money.)
I also forgot to pay my parents in July, or else my dad lost the check… I’ll have to double check on that as that’s why my debt payments are $50 less than expected.
I think part the reason I did fairly well with my spending in July is because of 3 reasons:
- I was so busy I didn’t have time to spend money.
- I knew things might be a little tighter after I quit my job, so I didn’t want to spend any extra money.
- I paid for my fence project and it hurt to write a check that big.
How was your July?