As the end of the month approaches, it’s once again time to take stock of all of my savings and investment accounts to add up my latest net worth. It feels weird, still, putting out this content while the world, and especially my country, is still being deeply affected by a pandemic that has resulted in so many people losing their income. It’s also hard to pick up my old content schedule when I believe that Black Lives Matter content should be at the forefront of what we are all consuming. Who am I to put my own unrelated numbers out and contribute to the noise, to however small an audience?
I don’t know if it’s in bad taste or not, but it definitely feels uncomfortable. At the same time, I’ve gotten feedback from followers saying they look forward to my budgets, net worth updates, and opinion/helpful articles. So I am keeping on for now, but I appreciate any comments that will help me guide my decisions in the future. Comment below or email me with any of your thoughts about putting out personal finance content at this moment in history.
So let’s get into my numbers for June 2020. I’m thrilled about this month’s net worth, because: a) I hit multiple milestones and b) my net worth is going to either stagnate or go down in the summer months. For this reason, I’m trying to savor these milestones as much as possible. Let’s look at the numbers:
Perhaps the most significant milestone is that I’ve passed the 30k mark, which I love to see. But there are others, too, like how this month I was able to increase my net worth by the highest amount of money ($3,901) that I ever have in a single month, thanks to a stipend being paid out. Perhaps more significantly, my net worth has changed by $17,100 for the entire year, which is more than it increases total in 2019, and we’re only in June.
But as I alluded to earlier, July and August will be much different. While I’ll be investing a lot to try and max out my Roth IRA before I start getting paid again in September, I’ll be depleting my summer savings account (which is over $5,000) to live off of my savings. I’m actually extremely grateful to do this, because this will be the first summer I’ve truly taken off since I was 16 years old. I’ll be funding my own life for two months as I have increased time to decolonize my mind with reading and media, create content on all of my platforms, protest, prepare for next school year, and spend time with the important people in my life. But it does mean my net worth may actually go down, depending on market changes and travel expenses.
So follow along as I navigate my first summer without work and income. I’m thinking it’ll be a more-than-fair trade off.
Come back to the blog next week to get an update on my July budget, where I’ll show you the ins and outs of how I’m using my summer savings to fund my life.
🙂 Rachel
P.S.
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