Thanks for dropping by Safe Investing South Africa. I am on a journey to build wealth my way. For any questions or comments, feel free to contact me.

31 Aug 2011

August 2011 Report and September Cash Flow Goals

What a month this ended up to be. Its been a happy month with a family holiday and visiting an Island for a weekend on one hand and a real estate business challenge on the other hand. Not to mention the shopping that went out of hand. The latter taught me a lesson about myself and I promised myself, it was the last.

August Cash Flow Tracking

I finally started tracking my spending. Its become urgent and necessary. I don't know where I lost my PF sanity.
My income was the usual rent, allowance and my small WAHM income. Because I was in the crisis months, I had to get some assistance. Just for you to see the severity of my negative cash flow, I ended the month with just below -$3000. I did buy a stove for one unit, had a one week family holiday and a trip to the island. It was a hectic month. Financially taxing.

I also bought lots of clothes and gave more than $1000 in gifts because of my niece's travel abroad. All worth it but now is haunting me as the hubby had to double my allowance and my one tenant didn't pay rent on time. I am usually ready for something like that, but this month was something else. I work from home and usually never get to travel or even put gas on my car. I only owe on my mortgage and that makes me a little bit relaxed. And unlike other personal finance bloggers, I have no full time job income. My rental income is almost all I've got. I would be working if I were single, for sure. 

I have simple goals for September:
-Increasing my small WAHM income from $278 to $350. I am growing a little. 
-Start my Emergency Fund with $300. That should take 10 months to build into my $3000. Lets hope nothing goes wrong in the process (some crisis in the units).
-Get a new tenant for the unit with notice tenant for October. That's the toughest one.
-Prepare to renovate 2 tiny bathrooms.

I am so glad I started this blog. I feel so challenged to stick with my goals. I know most people have goals to get out of debt. Whilst that might be tougher, staying focused to build wealth is also tough when you are not fighting debt. Setting goals will always be an important factor.


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