New to BFS? Please click here to get started. See you in the comments soon!

July 2016 Net Worth of $516,470 and Self-Employment Income of $6635!!!

This post may contain affiliate links.

I love reading blogging income reports! This lady is making thousands of dollars every month from working online and working at home. She runs two businesses, so she's diversified. What a great read.

It’s that time again! I like to use monthly income and net worth updates for motivation. Posting them pushes me to try harder, I am forced to actually work the numbers, and I started blogging so I could share with all of you and get feedback. I would also like to inspire more people to create income streams out of something they truly enjoy.

My Backstory for New Readers

I worked in a dead end cubicle job from when I graduated from college in 2005 through July 2011. My department didn’t have a career ladder up and $35,500 was the highest salary I ever received. My plan was to stay there for 30 years and retire. That plan went to crap for two main reasons. First, I wanted to truly connect with people. Secondly, I finally realized the position was the definition of “dead end”…I needed more.

That led me to creating Budgeting in the Fun Stuff in February 2010 even though I had zero professional writing experience, and I had just been a blog reader and commenter for a few months. It grew faster than I expected (thank you!), and I have been fully self-employed since July 2011. BFS itself has made more than $100,000 since I started.

My husband and I live on the income we earn through our online business, professional pet sitting, and our first house which is now our rental property. We currently bring in $70,000-$100,000 each year – 100% self-employed. If you’d like to start your own site, I worked out a special for my readers with Bluehost – lower rates on all 12+ month packages (for example, $3.49 per month for 36 months for their “basic” plan). I use Bluehost too, but I signed up for the 36 month package with their “Plus” plan since I have multiple domains.

I also just republished a free three part series to help:

Or if blogging isn’t your schtick, check out my recommended tools and services to help you save money! I’ve also personally done all sorts of side hustles including being a jewelry reseller from online to pawn shops in my late teens, being a cow mascot in my early 30’s, selling my hair for $100+, and starting my own professional pet sitting business in 2014. Email me any time for ideas as well since side hustles and entrepreneurship have become my whole life!

Onto this month’s update!!!

July 2016 Self-Employment IncomeI love reading blogging income reports! This lady is making thousands of dollars every month from working online and working at home. She runs two businesses, so she's diversified. What a great read.

  • Crystal for Hire (Freelancing like Writing, App Review Replies, and Blog Ad Management) – $1700
  • Budgeting in the Fun Stuff – $550
  • My Other Blogs – $0
  • Affiliate Ads – $225
  • eBook – $0
  • Professional pet sitting (also Mr. BFS and me) – $3200
  • Renting out our first house – $1250
  • Sports officiating (hubby’s hobby job – between seasons) – $0
  • Total = $6925

July 2016 Main Self-Employment Expenses (Taken Off the Top)

  • Normal Expenses (Paypal fees, Staff Writer for, Etc.) – $290
  • Domain Renewals and/or hosting renewal – $0
  • Total = $290

Overall, we brought in about $6635 in July 2016

Our Target

To put things into perspective, we need about $6000 a month just for our monthly nut. $4150 covers our monthly bills like the remaining mortgage ($1000), health insurance ($575), my car payment ($275), property taxes and insurance on both homes ($1300 a month), and income taxes ($1000 a month). The other $1850 a month usually goes to food, utilities, car maintenance and gasoline, life insurance, and splurgy extras. You can check out our our budget anytime.

The extra after that $6000 is divided between savings, investments, and even a little for fun. It also helps make up for not-so-good months that pop up.

So, even though we only brought in $635 more than we needed, that pretty much was eaten up by the Lasik surgery that Mr. BFS went through (see below). I’m concentrating on growing affiliate income on BFS now, so hopefully that number will increase each month too…

Our main financial goal is to continue making enough overall to work from home as long as possible since we both prefer self-employment over “normal” day jobs. Our secondary goal is to use the majority of any extra money that we ever have to reach financial independence as soon as possible (we are aiming for age 50 or before). We may still choose to work even if we ever have enough saved not to, but we would like to make that choice ourselves.


Please keep in mind that this income comes from 30+ hour work weeks online divided between me and Mr. BFS. We put in another 20-40 hours a week split up into pet sitting (60+ hours during the holiday weeks like the one we just had). When it’s a sports season he’s involved in, Mr. BFS puts in about 20-30 hours a week into reffing. My personal minimum work week has become about 50-60 hours.

We also end up paying about 20-25% in income taxes since we do have to cover the employer’s part as well. I was working 100+ hours a week personally for over a year before I was able to leave my old day job. I just want to be clear that this isn’t easy money in any respect. I want to inspire everyone to accomplish their dreams, no matter what it takes. I am not saying it will be simple or fast. It just can be done.

Net Worth Update – End of July 2016


Cash (in all checking and savings accounts) – $91,000 (-$3650)
Stocks – $18,970 (+$320)
Retirement – $166,800 (+$3800)
Home – $306,000 (same)
Rental House – $122,000 (same)
Cars – $14,850 (same)


Home – $193,350 ($300)
Car – $9800 ($200)

Total Net Worth = $516,470
Last Month: $515,500
Total Monthly Change: +$970

My Thoughts

YAY!!! Mr. BFS finally decided to get Lasik done on both of his eyes, so we spent $4500 this month that I wasn’t expecting much in advance.  Thankfully, our investments covered us!!!

It was a crappy month because my grandma died.  Now one of my aunt is succumbing to cancer…it’s being an emotionally stripping 2016.

Our home values are still spot on right now thanks to the official evaluations we just had done in April. Our car values are based off of Kelley Blue Book.

In case you are ever wondering, the car loan is at 0.9% interest, so we are not planning on paying it off early…although I am starting to hear that siren call of debt freedom…

Our cash reserves do have a little more than necessary in them right now, but not much when we take into account what we are aiming for. Overall, we want $60,000 broken up in the following ways – $5000 in checking, $20,000 in our emergency fund (will need to re-pad this since we used the $4500 for Lasik), $20,000 in our blog income account for paychecks, $10,000 in our rental home account, $5000 in a car account for our next down payment. And we have two accounts that build $2000 per month (hopefully) throughout the year (so at $28,000 right now). One of those accounts is the one we use to save for and pay our income and property taxes as well as our home insurance and HOA dues. The other is to save up for this year’s SEP IRA contributions as well as the following year’s Roth IRA contributions.

So in our reality, we have about $10,000 that we should probably use in a better way than just sitting there. My car loan is at 0.9% and our remaining mortgage is at 4%, so we may be making a principal payment on the mortgage this coming month…

Overall, I’m optimistic for 2016. We already hit my $500,000 goal.  🙂  Now we are working on the BIG goal set at $550,000 (a 10-15% increase over last year).

How have you been doing lately? What are your short-term and long-term financial goals?

I love reading blogging income reports! This lady is making thousands of dollars every month from working online and working at home. She runs two businesses, so she's diversified. What a great read.

FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year.  I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!).  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
Be Sociable, Share!
How Can I Save a Million Dollars for Retirement?
We DON'T Owe the IRS $67,000!!!

9 thoughts on “July 2016 Net Worth of $516,470 and Self-Employment Income of $6635!!!

  1. Very well written and interesting article! Thanks for sharing. My wife and I just started a blog and are always looking for ways to increase our income. Lot’s of great ideas! Keep up the hard work it is paying off.

  2. I’m just getting started in the investment side of things and trying to build something from nothing for our new family. Finding good and easy to understand investment advice is just painful. I’ve tried asking friends and family for advice on where to start – mainly just looking for resources, but it turns out that, while they may now be in a position of security and have been investing for years, they don’t know how to give any direction to someone else. It’s nice to find a blog that isn’t fully technical or overwhelmingly flooded with “click here for (fill in the blank) to change your life!” So, I would like to thank you for that. I’ve spent the last couple hours enjoyably reading your blog. I also wanted to thank you for not setting up your blog in such a way that every post references a previous one, so that it’s nearly impossible to understand one without going back and reading older posts – which eventually I forget why I’m even on their site, get frustrated, and leave.

    Would you maybe be able to help me understand some of what you’re referencing in this post? Specifically, I don’t understand the liability side of net worth. You listed your car/s and house/s, but for much lower than your asset amount listed. This newby is having trouble getting started; sorting through all the jargon and understanding the myriad options of investment potentials is dizzying.

  3. @Funny, awwww.

    @Kelan, cool, thanks!

    @Jennifer, Welcome!!! It’s awesome you are just jumping in – good luck! I’ll go right to the questions for me. The liability side of my net worth is the amounts I still owe to pay off my assets (house and car).

    Our rent house is mortgage-free, but our current home still has a $193,000+ mortgage. So even though it’s worth $300,000+ (seen in the assets since that is what I could sell it for in the current market), it also has a $193,000+ liability since we still have to pay that off with the bank.

    Same thing with our cars. We own the Prius outright (paid it off in 2009). But my new Honda Fit still has a car loan around $10,000. So, in the assets, you will see the grand total of what our two cars would be worth if I sold them on Craigslist right now. In the liabilities, you will see how much is still owed.

    For investment options, do you have the ability to pay into a 401k? We don’t since we are self-employed, but 401k’s usually will match some of your contributions, so I always start there first when I ask.

    Then I would bring up other retirement account options like an IRA or Roth IRA. The difference is that with a regular IRA, you put in money now and that money doesn’t count for your current taxes, but when you start taking from it in retirement, that money is taxed at the tax rate you will be at in the future.

    With a Roth IRA, you put in money now that was taxed (it isn’t a current tax deduction), but it won’t be taxed at all when you start taking money from it in retirement.

    And as for where to invest the money itself in either fund, I highly suggest index funds or target date mutual funds since both of those are based on the general market and adjusts as the market adjusts automatically. You don’t sound like you want to research individual options (I don’t but my husband does, so my Roth IRA is in a target date mutual fund and his is invested in different stocks he chooses individually). I’m not a pro at this, so this is just another human’s suggestion.

    Did that help?

  4. Great job on the self-employment income! It’s true that sometimes you actually work more when you are working for yourself. But it’s work you choose to do. Good luck reaching $550,000, sounds like it is definitely attainable!

  5. You’ve written about your grandmother in the past and how one reason you switched to full self-employment was to spend more time with her. My condolences on your loss.

    Congrats on continuing to build your “empire.” You and Mr. BFS seem like such kind people and it’s good to see you succeeding.

Comments are closed.