It’s a good time to do a personal finance evaluation. I started a new job about two months ago after being out of work for a couple of months. Now that I have a few paychecks under my belt, I have a good sense of where the numbers fall.
Saving and Investing
As before, my main focus has been building cash, continuing to invest, and paying down my mortgage.
When I was off work, I was living off side income and my savings. Consequently, my savings took a hit, so I have been focusing on rebuilding my cash reserves. I haven’t decided on a number as to where I will stop yet, but I am thinking that I will have a comfortable cash cushion by year-end.
My investments are performing okay, as the markets have been choppy, but I continue to invest a hefty amount into stocks every month. I won’t be eligible for my company’s 401K plan for a few more months, but I am aggressively saving in my taxable account and my Roth.
My only debt, my mortgage, continues to go down. I haven’t paid extra on the balance yet, but I am thinking about doing so once I have enough cash saved up.
New Job
My new job is still going well. It’s been a little over two months, and I continue to learn. There is a lot to learn, but I try not to get discouraged. So far, everyone has been very helpful and receptive to my being there.
Home and the Cabin
Major projects at both my home and the cabin are completed or are planned for several years out at this point. I still have some minor things to get done at both places, but the financial impact will be minimal.
Rental
Our rental continues to perform well. We are pacing to match last year’s gross rents, which is welcoming considering that many people are reporting a drop in income from short-term rentals.
Wrapping Up
It was a good time to do a personal finance evaluation. My new job is going well, I have income coming in again, and my saving and investing strategies are back on autopilot. Many of the projects that I wanted to do this year are complete with only a few remaining, and our rental property continues to do well. I’ll soon be thinking about goals for next year.
Read Also:
The First 30 Days at My New Job
Our First Year Owning Our Rental Cottage
6 Things to Research Before Buying a Rental Property
If You Want to Manage Your Money Well, Consider The 50/30/20 Rule
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Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.
