If you follow the endless financial news, you might have heard that the stock market ended August on a sour note. My investments suffered like those of many investors around the world. The only investment I’ve been adding to for the last few months has been my 401(k) at regular intervals. I’ve been holding off investing otherwise, and any extra income has been sitting in cash accounts.
At this point, I take a close look at my finances only once a month. That’s a big change from ten years ago, when I wasn’t earning enough even to pay for the cost of commuting to work. I began tracking every penny spent to be sure there was as little waste as possible. Over time, the necessity of tracking my finances so closely lessened, and now I’m fairly comfortable that I’ve built up good habits with money. I can save for the future while enjoying my life today.
I’ve mentioned my interest in photography before. This coming month, I plan on taking more steps to take this to a new level. I should have a few paying jobs as a photographer over the next few months, and I think it makes sense to create a new business entity to formalize the activity. My first concern is naming the new company.
But for now, here’s a look at my balance sheet as of the end of August 2010.
Of course, I’ll only be able to commit significant time to photography when I leave my day job.