The Lady had quite a week, despite the July 4 holiday day off. While I got smacked with many things I’m doing wrong, I was able to salvage the week by continuing to push forward and celebrate a few small successes.
The 3 Most Profitable Things I Did This Week (with a BONUS 4th entry)
Week Ending July 7, 2017
Let’s Do This: I Recommitted to Facing My Demons
My tax situation continues to be a nightmare. Just when I think I’m making headway, I realize that I’ve fallen into bad habits and am actually sliding backward.
This week, a week to celebrate our nation’s independence, events conspired to actually sparked a renewed motivation for my own liberation from tax debt and financial independence. (My recent Independence Day post outlines this most recent battle and resulting revelation.) Next steps include a) consult with an informed and trusted friend about priorities and b) re-build my entire budget with a renewed focus on managing my past, present and future tax situation.
FYI – I would feel remiss if I didn’t remind any of my fellow freelancers out there that are still struggling financially that savings for estimated taxes is not an area to scrimp. Trust me. Uncle Sam has smacked me around pretty good and the threat that he could seize all my assets haunts me.
Moved Money to a Higher Interest Account/Bank
Don’t get too excited, it’s only $1,000. Yet, somehow the fact I have one is a point of pride. As such, I’m extremely protective of it. I even titled it it “NO TOUCHING” (yes, in all caps.) As I prepare to get serious about paying off my tax debt, I want to protect my emergency fund even further.
You see, I use CapitalOne 360 for my savings account (yes, I have multiple; all designated to certain purposes). I wanted to make it more difficult for me to simply dip into my emergency fund for taxes. So I searched for a separate bank/account with the best interest rates. I read a concise article on the topic and chose Ally.
Not only did I protect my emergency fund, it will not be earning 1.15% APY vs. .75% APY at CapitalOne360.
Now, I know this won’t me “rich” but it does show that I’m starting to be more aware of how little changes may result in bigger benefits over time.
I’m Learning About Investing (Slowly)
I recently decided to jump into investing via an app called Stash. (Check my blog where I speak to why Stash.)
My new Stash balance? A whopping #$173.70. My current return percentage -0.74%.
My biggest allocation is in the recommended “Moderate Mix” fund but am discovering my “risk tolerance” might be more aggressive than suspected. My second biggest allocation is in “Up & Coming” fund, which included emerging markets. I’m continuing my $25/week Auto-Stash on a trial basis until December when I’ll re-evaluate and shop other trading platforms.
Note: The fact that I just wrote all that and actually knew what it all meant is truly astonishing. Like…WTF-who-am-I kind of astonishing.
I Tracked My Blogging Success
One of my favorite blogs, The Bitches Get Riches, just featured a post that stated “… we really fucking suck at setting goals.”
As a new blogger myself (who did zero research beforehand), I’d say that I had no idea how to begin to even set goals for myself. But ending my second month in business allowed me an interesting peek at my progress. I think this is a valuable exercise for any growth initiative; blogging, paying off debt, tracking investment performance, etc.
For those super curious, I have included a few key benchmarks on my blog metrics.
- Monthly Page Views: 1554% growth (June 2017, 29418) (Thanks to Rockstar Finance for two features in one month. Pretty “swirl” for a new girl.)
- Income: 3552% growth (June 2017, $6.94) (That’s right. Almost $7! Woo-hoo!)
- Social Media Followers: 197% growth (June 2017, 520)
NOTE: I’m still wondering why Google and Jetpack have such varied results. I have a lot to learn about metrics. Oh, my goal for June was to increase 20% across all metrics. I think even the Bitches would agree, I nailed it.
One final thought.Education is key to growth. I have re-invested time into reading other personal finance blogs. This is what has really help inspire me on my own journey toward a profitable life. I’ve listed a few of my favorites below but there are SO many to learn from.