September 2019 Financial Update

Financial Update
3 min read

At the start of each month I share a financial update where I summarize my income and expenses from the previous month along with my current net worth.

I’ve always found it insightful to follow the financial journey of other bloggers, so I hope that readers can find value in following my own.

Income & Expenses

Here’s a recap of my total income in August 2019:

Online Income from Websites: $2,605
Dividends & Interest: $110

Total Income: $2,715

Here’s a recap of my total expenses in August 2019:

Rent: $888
Food & Dining: $832
Travel: $400
Miscellaneous: $400
Utilities: $112
Entertainment: $102
Transportation: $102

Total Expenses: $2,886

The following chart shows my total income earned from my online businesses, dividends, and interest since the beginning of 2019 relative to my monthly expenses:

Note: The bump in April expenses is from paying my annual taxes.

Net Worth

Here’s a summary of my net worth as of September 1, 2019:

Cash: $31,239
Tax-Advantaged Accounts: $59,233
Brokerage Accounts: $54,046
Alternative Investments: $1,993

Net Worth: $146,511 (-$1,559)

Here’s a look at my net worth progression since I started tracking it back in August of 2016:

Recap

This was another solid month of earning money online from my portfolio of websites. In total, I earned $2,605 from my sites, which was a slight drop from last month ($3,124), but still a number I’m proud of. 

This number is especially encouraging when I look back at my monthly blogging income trajectory since early 2017:

It’s pretty incredible to see just how much my online income jumped since quitting my day job two months ago. In a typical month, this amount of income would have been enough to cover all of my expenses, but I took three different trips around the U.S. during August, so both my travel and food expenses were higher than usual.

For those who are curious, I earn income on this site through advertisements, affiliate links, The Excel Genius Toolkit, The Data Scientist Resume Pack, The Elements of Freedom ebook, and The Simple SEO for Bloggers Course. On my two other sites, I earn income mostly through advertisements.

If you’re interested in starting your own blog, I encourage you to check out my free guide here.

My net worth experienced a mild drop this past month, mostly because my spending was slightly higher than my income and many of my investments experienced a slight drop.

Since most of my money in both my tax-advantaged and brokerage accounts is invested in total stock market index funds, all of my account balances dropped a bit because the total stock market dropped slightly in August:

Looking Forward

Since quitting my day job two months ago, I’ve enjoyed an immense amount of freedom in my daily schedule. I get to wake up when I want, work when I want, relax when I want, and spend pretty much every waking minute doing whatever I please.

Despite losing out on a reliable monthly paycheck and experiencing an overall decrease in income, I feel confident that I made the right decision in quitting my day job to work on my online businesses full-time.

In the two months since quitting, I’ve already seen a pretty significant boost in online income and I feel that I have plenty of money in savings and investments to make up the difference during months when I don’t earn as much as I’d like.

I don’t expect my net worth to grow much over the coming 6-12 months, but it’s honestly not a priority for me.

In fact, I don’t even check my investment balances until I write these monthly financial updates because it’s something that is completely out of my control. The market will do whatever it may on a monthly basis and I have no control over how my investments will perform. Instead, I choose to focus my time and energy on things I can control like building my online businesses.

I fully expect to have up and down months in the future, but I expect my online income to maintain an overall positive trajectory over the long haul.

In fact, I believe that I can increase my income indefinitely and never actually hit a ceiling. The way I plan on doing this is through buying and building more assets over time.

For example, if I stop doing any active work whatsoever for the foreseeable future, I would still be able to earn around $1,000 each month through a combination of passive website income, dividends from index funds and REITs, and interest from my savings account.

This means the absolute minimum I’ll earn each month moving forward should be $1,000. But on top of this income, I also plan on creating digital assets in the form of blog posts and digital products that will bring me recurring revenue each month over and over again. This means the minimum amount that I’ll earn each month through passive income will only continue to increase.

This also means I will be able to work the same amount of hours each month, yet still be able to increase my income each month. And since my income exceeds my expenses each month, I can continue to funnel more money into traditional investments like stocks that will pay me more and more dividends over time. 

I’m excited to see my income grow moving forward and equally excited to share my progress each month. Thanks for reading 🙂

Interested in starting your own blog? You may find these resources helpful:

How to Start a Blog
Why Learning SEO is the Key to Increasing Your Blog Income Indefinitely


My favorite free financial tool I’ve been using since 2015 to manage my net worth is Personal Capital. Each month I use their free Investment Checkup tool and Retirement Planner to track my investments and ensure that I’m on the fast track to financial freedom.

My favorite place to find new personal finance articles to read is Collecting Wisdom, a site I created that collects the best personal finance articles floating around the web on a daily basis.


Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.