July Assessment

As I do each month I set some goals for myself in July and I then proceeded to try fulfilling those goals as best I could. Overall I’m quite happy with the goals that I set for myself this month because I managed to look at them all and achieve most of them. The biggest thing that I’m happy with is the fact that I was able to look at my cashflow, create a estimated cashflow for myself and then keep track of all of my spending over the course of the month.

As I write this I haven’t yet completed a budget for next month but I’ve got all the necessary tools to accomplish this and I’ve started assessing my spending numbers from July. I’m taking a new approach to my budgeting in that I’m using actual spending numbers to adjust what I am going to do next month.

The net worth component of my goals was not reached but this is because all the monthly interest charges were added to my balances which brought the overall liabilities total higher by around $300. The other impact to this is the fact that I don’t have a stockpile of cash like I did at the beginning of the month. My liabilities dropped by over $600 which I’m happy with even if my net worth dropped by $689.62 to $14,225.42

The one aspect that I’m not completely satisfied with is the fact that I only started looking and thinking about additional income generating businesses. I’m still planning on doing this but I haven’t made nearly as much headway as I would have liked. I’ve got a couple ideas one of which will need some research and another that will require more planning and an actual business plan. I’m going out of town this weekend and I’m going to take some time to work on the second of these then.

[tags]monthly planning, goals, assessment, spending, cashflow[/tags]

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