This month, I started saving up for my liberty fund. Saving up $30,000 is not easy, but it is a goal that I know I can attain. Here is how my month broke down.
Banking and Debt
My automated investing in my retirement accounts, including maxing out my Roth IRA and saving heavily in my company’s 401(k) plan, has become second nature now. I don't miss the money and have become used to the cash flow that allows me to put $5,000 into my Roth in addition to what I am doing in my 401(k).
My liberty fund is a new savings goal of $30,000 in liquid assets. You can read about why I decided my $5,000 emergency fund is not enough for this point in my life.
Side Business Income
Narrow Bridge Media – All Blogs and Online Activities
Revenue
- Private Ad Placements and Freelance Work – $715
- AdSense – $30
- Affiliate Payments – $68
Expenses
- None this month
I have started working on new freelance projects, and I am excited to see where they go. I am projecting $100 per month from my most recent weekly freelance posting.
Denver Flash Mob
- Revenue – $150
- Expenses – $0
I have one outstanding past due invoice and one event in planning. I have changed the strategy of Denver Flash Mob from large, public events to flash mob consulting. This puts the entire planning and execution of the event on me, but removes the burden of recruiting all of the dancers. I will test the waters and see how this goes moving forward.
I changed my accounts receivables policy. I now require an up front payment when I start the choreography and the balance the day of the event. This will keep me from losing money on the choreography and not getting paid.
DJ Yofi
No revenue or expenses this month. I have been booked for an upcoming wedding.
Net Worth
Overall, things were good this month. I am excited to see my mortgage balance under six figures. After last month's 2% increase, I was happy to follow up with a net worth increase by of nearly 4.66%, or $5,526 in July.
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nice work!
Thanks!
$5,000+ net worth month is nothing to sneeze at. Congrats on the awesome work!
Is this mainly because of your new goal on the Liberty Fund and a new focus on it or just a typical month?
The biggest difference from a normal month is that I got 3 paychecks. We are paid every other Friday, so two months each year are bigger than the other ten.
Nice Work Eric – and I still love the name of your new fund “Liberty Fund”. Liberty is what it’s all about.
It is exactly what I am looking for. Liberty:
The state of being free within society from oppressive restrictions imposed by authority on one’s way of life.
Nice work Eric! I’m excited to my my own mortgage payment this month and bring the balance under $80,000. It’s a nice feeling, seeing the balances drop below a new milestone.
Great milestone! How long do you plan to keep paying before it is gone forever?
Nice increase and congrats on dropping that mortgage to 5 figures 🙂
Thanks! I loved hitting that milestone.
Liberty fund is a great idea…
It is working well so far! Thanks.