Some of the links in this post may be affiliate links. If you click a link and purchase an item I receive a small commission at no extra cost to you. All opinions are my opinion. Read the full disclosure here.
I can’t believe it’s already July!! We’re half way through 2022…WHAT?!
June wasn’t great for me financially. I have been in a bad money mindset. I haven’t felt it this bad in years.
I have been feeling:
-impatient to be debt free and make more money
-guilty for spending money
-frustrated when something unexpected comes up
All of these feelings lead to a feeling of money scarcity and I don’t want to feel this way anymore. I have definitely recognized that I am in the best financial situation I’ve ever been in AND that everything is fine.
With that, I am working on focusing on the positive and getting back into the feeling of abundance.
General $ Updates
June was the lowest income month since 2020
After taxes I earned about $4,700. This is the lowest amount of income I’ve made in awhile. Both my side hustle income and extra income were low. I definitely need this to increase if I want to hit my financial goals.
I saved the lowest amount of money for my student loans compared to the last year
I saved about $386, which honestly doesn’t make me feel great. Interestingly, June 2021 I saved just about the same!
I decided to stop putting money to my emergency fund
I reached $6,000 in my emergency fund and I’ve decided to stop adding to it. I had a conversation with my bf which ultimately led me to making this decision.
Basically, because I have so much cash between my EF, student loan savings, and other sinking funds, I have enough to pull from if I absolutely needed to.
This will now allow me to put $600 extra to my student loans savings and I honestly feel so relieved about this decision!
I bought a new laptop
I finally bought a new MacBook (2021 Pro 14″)! I had been saving up for over a year because my 2014 MacBook was running terribly slow. However, this model I went with was $600 more than I had saved. I didn’t want the MacBook Pro 13″ because of the Touch Bar AND it still doesn’t have ports I need. I’m happy with my purchase though!
My High-Yield Savings rate has been increasing
Finally!! I know the rate will never be huge, but I opened my Marcus accounts at 2.75% and once the pandemic began they dropped to 0.50% for the last 2 years. Now it’s up to 1.20% (1.70% with my referrals). This is helping me gain more money across my savings.
Debt
I started the month of June with my official debt at $36,000 and ended with $36,000. However, I technically started at $18,986.72 if you consider the money I have saved to pay those loans down.
In June I saved an additional $386.72 for my student loans (bringing my total saved to $17,419.60) so my final debt for June would be $18,580.40.
I still have paid $0 in interest 😊 I did gain $19.60 in interest through my HYS account.
Spending
Some main things to point out about my spending in June:
Sinking Funds: I budgeted my usual $1,200, but as I mentioned above, I have decided to stop putting savings to my emergency fund since it has reached $6K.
Donate: Same situation as last month. I still have my foster dog so any expenses related to her I count as donations.
Groceries and Food out: A bit over budget in both categories. The main reason for this was because I forgot about my trip to Massachusetts when creating this budget. I went out to eat a couple of times up there.
I also spent about $20 on food for a virtual lunch which my company reimbursed.
Gas (car): Yay for no gas!
Business: This is way over budget because I ordered my MacBook!
Personal: Last month was $0 and this month made up for that lol. I didn’t do that intentionally, I just wanted to purchase some things. I bought hair ties, earrings, a manifestation workbook, and workout clothes.
Income
Full-time job (analyst/consultant) – Take home: $3,685.80 (includes meal reimbursment)
ONLINE/BUSINESS INCOME
Google AdSense (ad revenue from YouTube): $544.56
Financial Coaching: $85.00
Buy Me a Coffee/Venmo: $179.30
Mediavine (display ads on LivinglikeLeila): $128.29
Affiliates: $6.72
Sponsor: $225.00
Teachable: $38.70
Online/Business Income Total: $1,207.57
EXTRA INCOME
Chase Cashback: $19.43
Discover Cashback: $2.90
BOA Cash Rewards: $2.80
CITI Custom Cashback: $10.97
BeFrugal: $2.60
Extra Income Total: $38.70
Total Income: $4,932.07
Net Worth
As of June 30th, my net worth is $10,149.51. Down 4% compared to last month. Not too bad!
Total Assets = $46,149.51
Total Liabilities = $36,000
Net Worth = $10,149.51
Roth IRA (VTSAX): $8,924.36 (down 6% compared to last month)
401k: $2,224.40 (up 27.3% compared to last month)
M1 Invest (VTI): $5,470.06 (down 8.2% compared to last month)
Coinbase: $278.84 (down 36.3% compared to last month)
WeBull: $77.20 (down 2.9% compared to last month)
Fidelity: $140.52 (down 2.5% compared to last month)
Sinking Funds:
- Emergency Fund = $6,027.62
- Gifts = $338.70
- Beauty = $512.42
- Car/Car maintenance = $1,763.97
- Travel = $201.35
- Car insurance = $360.92
- Project $0 to Profit = $14.08
- Phone = $114.87
- MacBook = $0.72
Sinking Funds Total = $9,334.65
Credit Score
My VantageScore is at 779 which is 1 point up from last month.
June Goals Update
- Reach $18K saved for my student loans NO
- Make at least $2K in online/extra income NO
- Finish Debt Over It Project KIND OF
July Money Goals
- Reach $18.5K saved for my student loans
- Make at least $2K in online/extra income
