Living Off My Savings During a Time of Transition | Budget With Me July 2021

Hey reader,

It’s officially summertime, and while that means resting and traveling for me, it also means that I’m living off of my savings. I’ve designated a more bare-bones income amount for these two months, so things will be a bit tighter, and my net worth will most likely see decreases rather than increases. This is all part of the plan, so there’s no stress on my end. But it does mean adjusting my budget accordingly. Here are the numbers:

From my savings, I have $1,825 as my income. I’m also receiving one final, smaller paycheck in July, so I will supplement my income with that. I’m estimating that this will be about $1,000 (as usual, this is my conservative estimate). As of now, the numbers are mostly the same, save for a high Other fund (helpful wiggle room), no summer savings, and a good chunk going toward my car fund, as I will be buying a new (to me) car, most likely in these summer months. This is because my younger brother will be starting to work soon, and so I’m replacing my car and giving him my 2000 Camry. I’m aware that this is a historically terrible time to buy a used car (here’s a great Planet Money episode explaining this), but it is happening all the same, so I would like to generate the largest down payment possible before the time comes.

As you can see, I’m also tracking my moving expenses as they come up, so I can make a video for you guys detailing everything I spent. Stay tuned!

As always, watch my video above for full context and commentary 🙂 I will be posting a budget update during the month, should the income amount be very different than what I guesstimated.

🙂 Rachel.


If you want to use this template, I have it available for free.

If you need more guidance in your money journey, I created my Money Map Workbook just for you.

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