Personal Update May 2020

It’s hard to believe that it is already May. It would appear that things are starting to return to normal, as certain businesses are beginning to reopen. Granted, there is still a long way to go, but it is nice to see some progress. Here is a brief personal update as we head into Spring.

Wealth Building

My portfolio has recovered somewhat on the markets running up on hopes of the economy reopening. I’m still down tens of thousands from the highs, but it is nice to see some recovery in my accounts. I’m still investing the same as last month and haven’t bought into any beaten down stocks.

Debt

My personal debt continues to deflate as planned. Here is an update for May 2020.

DebtLast UpdateCurrent UpdateChange
Line of Credit$1,675.93$1,637.82($38.11)
Truck Loan$14,775.39$14,394.21($381.18)
Student Loans$34,225.71$34,073.70($152.01)
Mortgage$182,391.49$181,857.21($534.28)
    
Total$233,068.52$231,962.94($1,105.58)

 

Down another $1100. I would like to pay more, but in these uncertain times I have been stockpiling more cash than usual. I’ve put away a little over $1000 since the 1st of April. Hopefully, I won’t need it and can apply it to debt once this is all over. We shall see.

Income

My income has remained consistent for another month. Earning extra right now seems a bit out of reach, since most of the side work that I do requires me to be in other peoples’ houses. At least I haven’t taken a pay cut or worse. I’m thankful that I still have the ability to meet all my debt and saving obligations and still have some discretionary money left over.

Changes for Next Update

I’m hunkering down from a financial standpoint. Only spending what I have to and not getting involved in any major purchases. I wish more exciting things were happening, but these times require me to be diligent with my money. Until next time. Keep achieving your financial goals and stay safe!

Read Also:

Personal Financial Update, April 2020

Dealing with the Coronavirus. Personal Reflection APR 2020

Coronavirus Credit Card Relief Programs

How To Make The Debt Snowball Payment Strategy Work For You

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