Financial Freedom

Progress Report #2 | Slow Savings

AlexLeave a comment

There’s nothing new to report, but since it’s been a month since my last post I figured I should update with something.

So far, my savings have taken a bit of a halt due to recently moving. I need to purchase all new bedroom furniture, plus a desk, so it’s setting me back a good $1000.

…I’m also splurging and building myself the PC that I’ve been putting off for literal years, so make it more like $2000.

Regardless, I’m still putting away $500 minimum into my savings for a property down payment, so that’s good! I’ve got a total of $6,500 saved up so far… Only a $700 difference from my last update post, but oh well!

One of these days I’ll make a post that shows my current breakdown of my income and expenses. You know, once I have a desk to work at, lol.

Why is furniture so expensive?

In the mean time, I’m still working toward investing in Fundrise as well as trying to build that affiliate website… I don’t have much time outside of work, unfortunately, but I’m trying! Haha. Oh, and I’ll definitely make a post about Fundrise when I finally get around to trying it out!

’til next time!

NP.

Progress Report #1 | My First $5,000!

AlexLeave a comment

I’ve saved up a total of $5,000.

That’s insane.

To be accurate, I’ve actually saved up $5,800 so far since starting my new job back in later September of 2017. That might not sound like a lot, but to me, it’s quite a hefty chunk of change — plus I was still able to take a nice week-long California vacation!

As I said some time ago in my last post, I’m currently saving up for a down-payment on a multi-family property. I’m thinking about $10,000 to $12,000 should be plenty enough for the price range multi-unit properties go for in my area, so I’ve still got a ways to go. Still, I’m proud to be able to say that I’ve saved so much!

Aside from that, I wanted to make a short post to keep this place updated on what I’ve been up to and where I’m currently at, financially. So I’ll lay it all out in a quick bullet-point list:

  • Saved $5,800 towards down-payment for first investment property.
  • Opened a Roth IRA at Vanguard with $1,000 to start.
    • Set up automatic deposits of $200/mo. from my checking account.
  • Got a (very small) raise at work. New salary? $34,050.

That’s it. Nothing to really write home about, but it’s something.

Anyway, while I’m saving up for that down-payment, I’ll be working on two small goals. (1) I’ll be working on building a niche affiliate website to see if I have the knack for it, and (2) I’ll also be saving up a little chunk of $500 so that I can give Fundrise a try.

‘Til next time!

NP