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2020 Net Worth: July Expense Report Week 2

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Week 2 of July is over! It’s time to check-in to see how we are doing with our expenses.

In this expense report, I will be looking at all purchases and charges from Sunday, July 5th to Saturday, July 11th.

Decrease Your Expenses and Increase Your Net Worth

Here’s an important statement you need to understand on your money journey: You might not have an income problem; you might just have an expense problem.

Reread that sentence.

Because you have no idea where your money is going, you may not have funds available to allocate towards assets that increase your net worth.

Do you fall into that category?

If so, don’t panic. All you have to do it transform your mentality in order to create a new reality.

Oh yeah, I created The Dividend InvestHER if you want to add another stream of income to your portfolio. For less than $6 a month, you’ll get a list of dividends and investing strategies to increase your wealth. This is your chance to give up that food addiction you have and invest in something that will make you a better you.

Back to our scheduled post…

That’s why we are tracking our expenses. You should do the same!

Here is my expense report.

Hair Services and Products – $76 ($60 Cash + $15.94 Credit)

My favorite beautician was in town so I took advantage of the opportunity to get my “new me after quarantined” look!

I LOVED my new hairstyle. I loved it so much that I had the urge to get a photoshoot done.

Oh my!

Yeah, I am grateful that my sister was by my side to help make my vision a reality. She is the BEST!!

I know I’m crazy. But I felt it. It was time for a new look for my website, business, and upcoming books. If I didn’t do it now, I would have to wait until September or October.

No Way!

So in a few hours, we found a photographer, apparel, and participated in a late night photo shoot!

Yes, I’m coming back as a Communications Coach for CEO Unlimited LLC with a FRESH LOOK and NEW ENERGY. Wait for it!

Headshots – $185

Yeah, I explained the deal behind this expense.

But guess what?

This is for my business. It was time for new headshots as I redesign my website and make my comeback.

SO I am going to scratch this expense off my list of personal expenses.

Wifi – $54.95

Need to get that Wifi in order to get these books and courses out, right?

Total Personal Expenses for the Week of July 5th: $125.62

  • Hair Services & Products – $76
  • Photoshoot – Business Expense
  • Internet – Business Expense
  • Food – $49.62 – Put it on credit card so I have extra time to pay this!

Total Personal Expenses (with a cash flow impact) for the Week of July 5th: $60

Did I spend more than I expected to spend? Yes! I didn’t expect to get a photoshoot but this is a great investment in my business and promotional material.

Were the expenses worth it? Yes!

Living and recurring business expenses are excluded from this calculation.

What will I do better to monitor my net worth?

Well, one win that I didn’t discuss was maxing out my IRA! Woohoo!

I think I did really good this week. But if I’m being real with myself, I purchased two 7-oz bags of BOOM CHICKA POP and ate both bags within 24 hours!!

The bags of popcorn accounted for 13% of my food expenses for the week. Insane! I could have bought some nourishing fruits and vegetables for that cost. Wow!

A few hours after devouring the bags, I wasn’t feeling too well. I definitely wasn’t as productive as I could have been. My popcorn obsession caused my body to not perform at optimal speed.

What lessons did you learn this week? What will you do differently?

Don’t forget to grab your copy of my latest book “Dividends Are a Queen’s Best Friend” if you want to learn how to earn income from your investments.

Comment below.

About Charlene Rhinehart, CPA

Charlene Rhinehart is a Certified Public Accountant, Founder of Wealthy Women Daily, and Editor-in-Chief of the Dividend InvestHer and The Wealthy Woman Investor. Charlene is currently the Chair of the Illinois CPA Society Taxation Individual Committee. With over a decade of experience in the financial services industry, Charlene is one of the few leaders who design insights specifically for the woman investor. Charlene’s work has been featured in a variety of publications including the Huffington Post, Black Enterprise, and the American Institute of Certified Public Accountants. In 2019, Charlene released her book “Dividends Are a Queen’s Best Friend”, on Amazon.

Check Also

2020 Net Worth Challenge: July Expense Report

Because of high expenses, many people are not able to allocate money towards assets that increase their net worth.


  1. Amanda Williams

    I feel you on the popcorn thing lol we’ve all been there purchasing snacks we later realize we didn’t need. I’m learning to save more and to be patient with things that I want. I purchased a t.v. stand that I think was worth the expense as I been without one for almost 2 years but the expense may have gotten in the way of paying more important things that I’ll now have to pay later. But I think it may have been worth it. Some other things that I wanted now I did put off until later. So it wasn’t all to bad. But still working to lower expenses.

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