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The first half of 2019 has been full of ups and downs, and it’s been a rocky six months personally and financially.
As it turns out, budgeting with an irregular income is harder than I thought.
I miss the steady paycheck that having a 9 to 5 got me. But do you know what I don’t miss? Getting up every morning at 5:30 a.m. to rush into work and put up with gossip and office politics.
Even with the struggles of figuring out how to manage our money now that my income is unpredictable, I’d pick working at home over working for someone else every time.
I’ve also been recovering from a hip injury that required eight weeks of physical therapy, and not being able to do the things I want has been frustrating.
But all things considered, we’re doing pretty well over here in our corner of the world.
Net Worth Update
Since I’ve never published our net worth before, I guess I shouldn’t call this an update.
Personal finance is… well… personal.
Sharing tips and tricks about how to save money and increase your income with a side-hustle seems safer than exposing the truth of our money situation.
But I need more accountability. Plus, maybe my journey will inspire your path to financial independence.
So here it is, for the first time ever: Our Net Worth
If you aren’t sure what net worth is, that’s okay. Basically, if you add up everything you own (your assets) and subtract the debt you have (your liabilities), you end up with your net worth.
I use it as a tool to measure my financial progress. I like knowing where I stand and to see the progress I’m making.
Despite our budgeting troubles, our net worth saw a big jump for the first part of this year. Our investments – the 401k mostly – saw a decent jump, and that makes me happy.
And since I ramped up my freelance writing business, that account grew, too.
Our student loan debt actually went up a little because I asked for a deferment when I went from working full time to freelancing full time. That payment starts back up again July 1, so the next net worth update will show a lower balance.
Our credit card debt is disappointing. Since my income isn’t guaranteed, we haven’t been putting much money toward paying that down. I’m hopeful that my freelance writing business will become more stable as time goes on.
Goals for the Next 6 Months
If the second half of 2019 goes as fast as the first, Christmas will be here before we know it. Here are my goals to help keep my focus on track:
- Stick to a $500 per month grocery budget
- Stop going out to eat… Andrew and I took a pledge to only go out for birthdays and anniversaries last month and have been doing pretty well with that.
- Pitch 6 new clients each week to build up my writing business
- Reduce credit card debt by $2,000
- Drink 64 oz. of water each day
- Work up to 7,000 steps a day (as I’m still recovering from my hip injury, this might be challenging)
- Get more sleep by going to bed on time
- Visit Tahquamenon Falls
That’s all I have for right now my friends. I look forward to checking back in with you in six months to see how I did on those goals.
In the meantime, I’d love to hear about what you’re working on! Summer is here… got any great plans?
Amy Beardsley is a wife, mom to a teenager and frugal lifestyle enthusiast. She’s always on the lookout for new ways to cut costs and increase income, without sacrificing comfort. She’s also a freelance writer who specializes in credit reporting, FinTech, and probate and estate planning topics. When Amy isn’t perfecting her budget spreadsheet, you can find her curled up with a good book or watching Marvel movies with her husband and daughter.