Put your updates here yeahh to make a new line just type < br > without the spaces like this. If you want to edit the text here you gotta go to tumblr.com/customize and then click edit html. afterwards just press command+f for mac OR ctrl+f for pc, then type in div id="02" and press enter. You'll find this text and then you can edit it!
To bold text like this type < b > without the spaces in front of the text and then < /b > without the spaces behind the text like what i'm doing here. To italicize text do the same except with < i > and < /i > like this. To bold AND italicize something just put BOTH < b > AND < i > before the text without the spaces and BOTH < /b > AND < /i > after the text without the spaces like this.