Well, friends – we made it! Another year under our belts. I hope your 2018 was happy, healthy, and productive.
In comparison to other months, this one was relatively low-income for me. I’ve decided I’m done with waiting tables (at least at the particular restaurant I’ve been working at for the past year), so I didn’t have that income. The extra few hundred dollars is just not worth the frustration and stress. It has served its purpose over the last two years, especially when I was still trying to pay off my student loans, but my sanity is a priority now. I was recently promoted with my full time job as well (I’ll do a blog post in the future about that endeavor specifically), so that pay bump will help offset the loss of income from waiting tables. The college Homeland Security course I was facilitating is now over for the semester, so I won’t be making any income from that again until the end of January when my next class starts. I completed several mystery shops but won’t get reimbursed for those until the end of January (there’s about a month delay in payment processing). I had minimal travel this month, so there wasn’t much for added expenses from that source either.
Here’s an update on how I divided up my leftover income for the month:
- To Auto Loan (50% of my leftover income): $772.20 – I now owe about $7,500 on my vehicle! I bought my vehicle brand new in 2015 for roughly $30,000 with a five year loan. Ouch. We live and learn, but I’ll be happy to have this paid off early and I plan to keep this vehicle for several years to come.
- To Emergency Savings Fund (25% of my leftover income): $386.10 – To truly be comfortable with my emergency savings fund, I would like to have about $20,000 saved up, which equates to about 5-6 months of living expenses for me. So far, I have $5,000 in a high-yield savings account. I’m a quarter of the way there!
- To Home Savings Fund (25% of my leftover income): $386.10 – I have been spending quite a bit out of this fund lately due to some basement renovations, so I wanted to replenish it a bit more. I now have about $2,400 in the account.
January will be an expensive month due to my wisdom teeth removal procedure (UGHHHH) but I am cash flowing that with about $2,200 set aside. I hope insurance helps with the cost and makes it less expensive, which would be a pleasant surprise. Otherwise, I don’t have much planned for January, so I expect to have normal expenditures aside from the wisdom teeth removal.
Best wishes for a wonderful 2019!