We’ve something to celebrate!
It’s my semi-annual!
Actually, I started a little bit more than 6 months ago. It was a great journey already but I got some big plans for the next months and years and I want to let you know what these coming changes are. But first look back at some of my achievements during that time.
My own progression
There are actually many things that have changed in my financial life since writing this blog. Have you noticed that my net worth nearly dropped by 50% since writing this blog? Luckily, I had an increase in my last net worth update again!
I will just list the changes with the most financial impact.
I’ve become a freelancer
First update from my side. As I started to write this blog, I was a working student for a big German car manufacturer earning slightly less than 1,000€ per month. A few months later, I’ve become a freelancer making a 5-figure income (before taxes) per month. That’s obviously the biggest change financially. A lot more capital to work with but a lot more responsibilities to take. I’m now also self-employed and had to work on holidays and weekends already. But well, that’s the price for a lot of freedom that I’m willing to pay.
Mrs. Budget and I moved into our own apartment
We’re no longer living at our parents’ places. It’s great but this means also higher expenses. We were lucky enough to find a fairly priced apartment (which is quite hard in central Europe). But a lot of extra costs (e.g. for a kitchen) occurred that were not planned. As soon as our emergency fund is built up again, we should be in a good spot. But for the next few months, we may have to live on a single income. Luckily, Mrs. Budget supports me wherever she can. It’s really great to go through that together.
I’m a dividend investor
This was already planned when I’ve started to write this blog. Well, at least it was planned to switch my investing strategy from index fund investing to something else. I’m a nerd and I like to dive deep into topics. I’m just not a person who likes the 80:20 or Pareto-principle way of doing things. This is still a pretty passive strategy. However, you pick individual stocks instead of funds and it’s a little bit riskier. Still, I’ve finally I found a strategy that seems to fit perfectly into my financial life. This will therefore also have a huge impact on the topics I’m writing about in the future.
My blog updates
Last month, I’ve reached my first milestone with crossing the 500 Twitter follower line!
The great thing here is that I’m not doing a strategy like ‘follow people randomly so they will follow me back until I have a huge audience’. I don’t want to offend anyone who is doing that technique and probably it’s much more successful and faster than mine. But I try to produce and share good content and engage with my audience regularly to end up with a lot of followers, that really want to follow me even if I’m not following back. Hopefully, a good portion of my followers met that criteria.
I’ve also some blogging buddies who read and share my content from time to time which is a great motivation to go on! Thanks to all of you guys!
However, to really accelerate the growth of my audience, I’ve got the following updates in mind.
Finally creating a freebie
I haven’t been focusing on my email list so far which is actually not a good idea according to every single successful online entrepreneur/blogger/influencer. It starts with the freebie and goes on with really trying to get some more subscribers to that list (right now I have 3. One is my brother and Mrs. Budget also subscribed to my email list).
The freebie is just the starting point but a very important one cause no one will ever subscribe to a newsletter without getting something valuable for it. I will try to create something like this and maybe, who knows, you will subscribe then as well 😉
Well, there are times when I’m struggling to come up with good content ideas. But this one would be great. Every 2-3 months an interview with some expert on a specific money topic. How about a guy who already makes 5-figures annually from his dividend stocks and is still in his 20s? Or someone who has built several successful online ventures? I’m excited about this and you should be as well!
We will start with the first one in the next 2 months and I already have an interviewee. So stay tuned!
Produce passive income (outside of dividend stocks)
I’m pretty sure, there will be months where I can’t work 40 hours per week on a project. In this time, I want to build a nice passive income stream. The options are endless, like a niche website, an Amazon FBA or building an online course. The latter would be especially interesting because I can combine my job and my existing skills with the side hustle. The former, on the other hand, allow me to learn some new skills and also take away a thing or two for this blog.
I’m super excited about that, but it will definitely take some months to come up with a good idea and a masterplan!
Deep dive courses
Yes! I want to create deep dive courses about several topics. Automating your finances, conscious spending, dividend growth investing, or just building a freelancing business. Again, this is also something that can’t be done in 1 or 2 days. But as soon as I find some time I will tackle those things. Maybe I can combine this with one form of passive income!
I hope you enjoyed some of these updates. What are your plans for the next few months/years? What do you want me to add to my blog? What’s the one thing you are struggling financially with? Let me know by leaving a comment below!