Just a quick blurb for now

I adjusted my bars on the right hand side of the page. As soon as all of my payments go through, they will be up to date. That’s right, I’ve paid down my “Other Debts” to 93% of their original amount from when I started this journey!

My credit card is making slow, but steady progress. But since it is March and nearly a quarter of the way through the year, I would want at least 25% of my goal met. Which clearly isn’t the case.

But I’m at 15%, which isn’t too bad. I’m snowballing my money that went to my “other debt” and throwing it at my vacation fund until July. Then starting August all of that money will be snowballed into the credit card. In August I’ll reevaluate what I’ll do with my tutoring money, but I imagine it will stay going into my Chase account and serve for a Christmas fund. We’ll see, that is a ways off.

Also, I was very excited that I’ve made such significant progress on my student loan debt considering I’m only making minimum payments. After the credit card is paid off, I’ll focus on the student loan. But this is quite a ways in the future.

My vacation fund is doing well at $375 dollars, and that will go up to over $400 when my tutoring money goes through. Not bad, I’ll need to earn at least $300, if not more, in April to reach my goal. Even though I have a minimum goal of $2,000, I sure would like to make it to $3,000 so that I will be able to get souvenirs (i.e. Christmas presents) while on the trip and not feel like a poor beggar going from country to country. We’ll see. I made nearly $40 the past week tutoring, so if I even keep this pace I’ll make it to around $200 next month. So just a little bit more effort and I’ll be right on my goal.

April Payroll: $215
May Payroll: $215
June Payroll: $215
July Payroll: $215
Starting balance: $40
Reimbursement contribution: $85
March tutoring: $37
Tax Refund: $600
Total: $1622

So, without any additional tutoring I’ll get to $1622, so I’ll need at least $400 of tutoring in the next 3 months to get to $2000. For a total of $3000, I’ll need an additional $1400, or $466/month from tutoring. This is a bit high, but it is a good goal to shoot for. However, $466/month is two and a half hours of tutoring per night that I CAN tutor, so this doesn’t seem likely. Perhaps I should tailor back my expectations to $2500 total, which would mean I would need about $900 in the next 3 months, or $300 per month (or 1.5 hours per day I can tutor). This is a bit more reasonable. I think shooting for $466 and settling for nothing less than $300 is the way to go. I want to have an awesome trip, and I want to do this by paying cash and not even TOUCHING my credit card. The only way to do this is by saving this money, so it is time to get to work.

Also, with this vacation in mind, I’m going to have to be extra careful about my budget the next few months. I’ll post more later, but there are some of my thoughts for now…


One Response to Just a quick blurb for now

  1. myprettypennies says:

    Hi SS4BC! Thanks for the kind words and adding me. I love discovering new pf blogs. 🙂 I can totally relate with the frustration and impatience of wanting to save and earn more money. But congrats on the 93% paid off for your other debts! Every little bit counts. I look forward to reading more!

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