We’re officially more than half way through 2020 and at this point I’ve gotten used to working from home.
Still no details on when we can return to work, but I am so, so grateful for my job.
In July I actually started a role in the Covid-Response. I still get to work from home (it involves public inquiry email triage), but it’s definitely kept me way busier these days.
It’s a 30 day response and then I am getting extended another 30 days.
July looks a lot like the last few months because I am still saving all of my left over money at the end of the month.
To be honest, I’m quite eager for September 30th so I can drop a few grand on my student loan debt!
Let’s get into the updates:
DEBT PAYMENT/INCOME SPREADSHEET
CURRENT FICO SCORE: 764
CURRENT DEBT: $47,748.27
ROTH IRA VALUE: $3,756.19
NET WORTH: -$33,455.46
I put $1,200 to my emergency savings
Wow! This is huge to me and I’m SO excited to start paying down debt with such large amounts.
My emergency savings now has over $3,700 in it.
While student loans are deferred I have been saving anything extra each month (in my high-yield savings). Once I have to pay them again I will put whatever amount I have over $3,000.
I want a larger emergency fund considering everything going on.
I am now under $48,000 of total debt
Slow progress is still progress!
I only paid off about $345 this month (my car payment), but it still counts!
I started tracking my net worth (included above)
I think I actually started last month but I now want to include this number in my reports. I have been using Personal Capital and I think it’s been so fun to watch this number!
My net worth does not include the value of my car by the way.
Taxes: ($900) I put this money into my High-Yield Savings account until I have to pay taxes.
Sinking Funds: ($400) My sinking funds include car maintenance, vacation, gifts, medical/dental, and my emergency fund.
Investing: ($100) I contributed to my Roth IRA (VTSAX with Vanguard)
Donate: ($50) Every month I donate at least $50. This month I gave $50 to my friend who’s apartment complex caught on fire.
Rent: ($1,346) My rent for a one bed, one bath apartment near Atlanta, GA.
Renter’s insurance: ($15.50) I am required to have renter’s insurance for my apartment.
Trash: ($35) Valet trash is mandatory at my apartment. Dumb, I know.
Wi-fi: ($55) I have Google Fiber.
Electricity: ($61.05) My electricity bill.
Water/Sewage: ($43.57) My water/sewage bill.
Food: ($278.38) This is all on groceries and food out.
Gas: ($18.75) I got gas once and haven’t been driving much.
Car: ($382.55) My minimum car payment.
Student Loan Debt: ($0) As I mentioned, student loan interest and payments are deferred right now. I decided not to put anything toward my student loans.
Insurance: ($147.15) This includes vision, dental, and life insurance. I have health insurance through work on top of my salary which is really nice.
Health: ($32.40) This includes my Ritual multivitamins.
Phone bill/car insurance/Dogs: ($230) My sister pays my phone bill so I pay her for that. I also pay for my dad and step mom’s phone bills because my dad pays for my car insurance…the costs basically equal out. I pay an extra $50 to help her out with our dogs. My dad and stepmom paid off their phones so I offered my dad the $50 difference each month but he said to save it, which I’m so grateful for.
Business: ($198.11) This includes paying for Tailwind and GSuite. This month I also had to renew my domain name ($15.95), upgrade my email subscription service ($131.18), and I also ran FB ads for my course ($30).
Gifts: ($39.00) I contributed $25 for a wedding gift for a co-worker and I bought a small gift for my boyfriend for our anniversary. I always pull from my gifts sinking fund!
Excluding my savings and debt I spent a total of $2,559.90.
As always, I upload videos every month with all this info on my Personal Finance YouTube channel!