August Financial Update

Today’s post should be subtitled “how much your net worth can change in a single day.”

Because, well, look at this:

On July 31, my net worth was $127,163.28. That’s $5,564.82 up from the $121,598.46 net worth I recorded at the beginning of July.

On August 1, my net worth dropped to $125,946.28. I lost $1,217 in a single day, and yes, that entire loss came from the stock market. I checked.

This, of course, is probably related to the Feds lowering interest rates for the first time in a decade, and I’m choosing to view it as “hey, stocks are on sale” and investing accordingly.

But it’s still fascinating. Like, how little control we actually have in our long-term financial health—because the Federal Reserve can just up and say “we decided to change some numbers,” and our bosses and clients can say “we decided to change our staffing structure,” and our landlords can say “we’re raising the rent” or “we’re selling the building,” and so on.

(Not that any of these items are necessarily related. Unemployment is at record lows right now, in fact—though wages have remained fairly stagnant, which is another item that’s out of many of our controls.)

On the subject of “things that are only nominally in my control,” I earned $6,822.13 in freelancing income in July and $8.58 in publishing royalties. I have $5,508 of outstanding income owed me for completed work, and I have been completing a lot of work lately, so we’ll see how August goes. It could be another $10K month, depending on when all the checks arrive.

That said, I need to start building some slack into my schedule real soon, because right now I’ve scheduled all of my overflow time away (meaning that there isn’t any time besides nights and weekends for an assignment that takes longer than anticipated), and that is an UNSUSTAINABLE FREELANCE PRACTICE. For, you know, all of you who wanted mid-career freelance advice! ❤️

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