Personal Financial Update, July 2020

Personal Financial Update, July 2020

It’s time for another personal financial update, July 2020. It’s the middle of July, but it certainly doesn’t feel like it. No fireworks, or street fairs, or concerts this year. The virus has definitely changed our world. I’m looking forward to the day that this is all behind us and things are normal again. But, life goes on as do my finances. Here is a brief update of where things stand.

Wealth Building

My portfolio continues to stay strong despite world affairs. As of the writing of this personal financial update the DOW closed up over 500 points. So, I saw a nice increase on most of my holdings. My strategy is long-term and has not changed. Dollar cost averaging continues. Here is an interesting article on the apparent disconnect between main street and wall street. Why is the market up?

Debt

Debt is continuing to fall as planned. Here is the most current breakdown:

DebtLast UpdateCurrent UpdateChange
Line of Credit$1,546.45$1,506.09($40.36)
Truck Loan$13,667.87$13,667.87$0.00
Student Loans$33,983.42$33,788.55($194.87)
Mortgage$181,343.41$180,805.37($538.04)
Total$230,541.15$229,767.88($773.27)

 

Over $700 more in debt eliminated. Progress is slower than I’d like, but at least it is consistent.

Income

The side job that I mentioned in the last personal financial update is starting to pick up and bring in some nice side income. I actually have a job tomorrow evening. So far I’ve been saving all of the money that I’ve made.

Changes for Next Update

Nothing major is planned so far as changes for the next personal financial update. I’m going to continue saving cash and paying down debt. Until next time, keep working towards your financial goals.

Read Also:

Personal Financial Update June 2020

5 Tips On How To Avoid Growing Your Credit Card Debt

How To Make The Debt Snowball Payment Strategy Work For You

What Are Stocks That Pay Monthly Dividends?

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