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June 2021 Investment Report:
On this blog post, you’ll find my investment report for the month of June 2021. My previous investment reports were getting a little long on the page on which I had them so I decided to put them in a post format and link them to that page instead to make them easier to read.
My investment’s dollar amount is growing and decent amounts of saved money or a lack of it usually brings up strong emotions so I may feel inspired to get in more detail about how I continue to grow my portfolio.
I don’t publish these reports right when the month ends because the end of the month and the beginning of the next month are the busiest times at my work so I have to wait to be in a relaxed mode to be able to write my results.
Additional Expenses & Other Income Commentary
In June, my long-distance boyfriend came to visit me so to contribute, since he paid a lot for his ticket, I paid for 99% of his meals and entertainment while he was visiting me. That added about ($100) – ($150) extra of what I spend every month on food and entertainment so it wasn’t too bad of an extra expense. We had a lovely time and it was somewhat of a cheap staycation (he is originally from Utah) for both of us.
I had $168 on extra income (not all is profit) that I used to offset business expenses of ($225). That decreased my savings for investing purposes by another ($57).
In total, I had around ($200) of additional expenses. Everything else remained pretty much as a fixed expense.
I took a step further this month and downloaded the transactions for the month of June for both my bank and my main credit card accounts. I’ve done that in the past several times, but due to my busy schedule, while I worked full time and attended graduate school, I got out of the habit.
I check my credit card’s balance every day because when I was younger I only did it monthly and that bad habit contributed to me getting behind financially. It is a mistake I never want to make again so now I watch my balance like a hawk. I also pay my balance almost daily. If it grows too much it gives me high anxiety so I am happy paying it off pretty quickly.
My Numbers for June 2021:
- Down payment for a house – Achieved 😊.
- Emergency fund – 50% there 😍. The increase is due to a mix of cash additions and the market going up. My emergency fund is invested and will cover 2 years of living expenses if it is ever needed. It is not in cash as most emergency funds. This is because the only risk that I have so far is losing my job for an unforeseeable reason and I have contributed enough in taxes that my unemployment will cover all of my monthly expenses. Also, accountants in the Great Salt Lake City area are sought after so the chance that I will stay unemployed for a long period of time if I lose my job, is highly unlikely.
- I will include the unrealized gain amount on my investments here at some point. I am working on a blog post related to it, which I will link to this one when I publish it.
- 401K – 12% from goal 🤗. My goal is 3 yrs of 401K savings for now. Because I had health problems before, I thought I should break down my steps into achievable goals for now. I am just contributing to meet my company’s match.
- Roth IRA – 1% from goal 😫. I will wait a year until I put more money into this account. I would like to fund my emergency fund first.
- Earned Side hustle money – $168 as mentioned before. Even though it’s a small amount, it still amazes me that the work I put over 2 years ago, still gives me a little money. This is for sales on Ebay and Poshmark. I still add listings for sale on a weekly basis, but not as many as I did when I wasn’t working full time some years ago.
Why I Am So Focused On Saving & Investing?
- I go over my health scare and how it affected my finances in the past on START HERE.
- I 100% believe in the power of compounding when it comes to investing. More about how it works below.
A blog that I find inspiring is A Purple Life. In this blog, you can see how she, through the power of saving and compounding, could retire in around 6 years with over $500,000 saved and how she lives from it.
I included a START HERE and THE NUMBERS section on my blog because of her blog. I really liked that idea. I think people like to read how other people are doing in their financial journey.
A blog post I recommend is How To Become Rich. It is a comprehensive guide on how to save, make extra money and invest to grow rich.
What is Compound Interest and how it is changing my life?
Compound interest simply put is interest over principal and interest. For example, let’s say you buy $1,000 in stocks and they grow 10% in 1 year. As a result, you will have $1,100. If you don’t touch it for another year and it grows another 10%, then the growth is now based on the $1,100, which would be $110. So now, at the end of the second year, you have $1,100 +110= $1,210.
It gets harder to explain when you add more investments along the way because your original investment grows and your new investments grow as well. So you have multiple money growing trees 🤑 in other words.
How stocks earn that 10% (or less or more) in growth? When the price increases. For example, if you buy a stock at a stock price of $20 and in a year is worth $22, then it has gone up in price by 10%.
Please keep in mind that not all stocks go up. Most investors have some stocks that don’t grow or grow for some time and then they stop growing. Investing has some risk involved because of it. I’ve sold some stocks at a loss (the price was lower than what I bought it for), but by far, I have more unrealized gains on my portfolio than losses.
I wrote a blog post related to it that you may find helpful HOW I ENDED UP WITH A 39% RETURN IN MY INVESTMENT PORTFOLIO IN A YEAR?
In conclusion, I am happy that I am still healthy so I am able to work and grow financially, and that way I contribute to having a better future by investing, which, hopefully, will result in a very comfortable retirement whenever that may be.
Would you like to Start A Blog?
I have written a couple of blog posts that guide you on How To Start A Blog and How To Make Money With A Blog. I’ve listed them below in case you would like to check them out.
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