Tutoring Money Is In!

I had my tutoring money direct deposited into my Chase account today, and indeed the money that their counter reports IS the money that I got. Despite the fact that it was higher than the rate they told me I would be making. So I got an extra $530 this month as my spending money. I immediately put ~15% ($80) into my emergency fund so that it would be saved for paying taxes on my tutoring income.

I have continued doing my $1 breakfasts, which has financially been very nice, but the dog sure does eat a lot of food! I have him on a pretty high quality food since he is a puppy and I want to make sure that he develops correctly. His food right now costs about $40 per 40lb bag. When he gets older (a year or so) I’ll probably switch him over to the same food that Cpt. Baseball uses for his dog which runs bout $20-25 for a 40lb bag. Quite a financial difference.

I have started eating out with my friends at lunch again, because (as I mentioned before) it really is my only social outlet. What I am going to start doing is a modification of my old envelope system. Once the dust clears on the money that I have spent this weekend in my Chase account, I’ll pull out $400 for my spending money for the month. $100 per week. That is my budget. If I run out on Thursday, time to be thrifty. If I have a little extra, GREAT! carry over for the next week. I did this in graduate school with budgets between $60-80/week with no problem. So I don’t foresee this being a huge inconvenience. The extra $50-100 in my checking account will be for things like getting my oil changed. Stuff that I’ll need to do, that isn’t an emergency, that isn’t a bill. If after this month I don’t think that $100/week is satisfactory, I’ll increase that to $120/week and set my tutoring goal for $550-600/month. Right now I have 11 hours on the schedule, which means that the maximum that I could make if I didn’t add any more hours or float any is $132. That’s a nice chunk of change.

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