January 2019 Recap

Hello, friends!  I hope you’ve had a pleasant start to the new year.  I have been extremely busy with my new position at work, but it’s been a great experience so far and I’m enjoying it.  I would much prefer to be super busy at work than to sit around twiddling my thumbs, so the challenges of being a supervisor and having added responsibilities have really invigorated me.

January was a low income month for me.  As previously mentioned, I no longer wait tables so I rely on being an online adjunct faculty member at my alma mater and occasionally nannying as my side hustles.  Due to Christmas break, I did not begin teaching again until mid-January.  My paycheck for those two weeks of teaching will go towards my February income.  I was reimbursed for the mystery shops I completed in December, so it was nice to have that money back in my account plus earn a little extra for doing them.

I traveled once this month (in state) for a work training, so my meals, hotel, and other travel expenses were covered by employer.  I won’t be traveling as much with my new position, which is a bit of a bummer.  I loved that aspect of my previous job, and racking up the Marriott Rewards points was lovely. 🙂

My wisdom teeth removal costs from December have not yet been fully processed through my insurance, so I haven’t had to pay anything on those yet.  The procedure did come in under the original estimate, which I am extremely thankful for.  That will free up a bit of money to throw at my car loan.

I didn’t have much for major expenses this month.  I spent more than normal on groceries, which can likely be attributed to my desire to be more conscientious of my food choices and buy healthier foods.  I have also stocked up on some bulk food items from Amazon when they have good deals (a coupon combined with a Subscribe & Save discount, for example).  I fully expect February will be back to normal.  I have also been a major organizing kick (darn you, Marie Kondo), so I ordered several new organizing bins from The Container Store.  That set me back about $200, but the feeling of having my home organized and put together is priceless!

My net worth increased from ~$65,000 to $69,000 this month.  Yay!

Here’s an update on how I divided up my leftover income for the month:

  • To Auto Loan (50% of my leftover income): $215.03 – I now owe less than $7,000 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): $107.51 – 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): $107.51 – 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 $2,700 in the account.

While January was not impressive from a debt payoff/savings perspective, I have high hopes for February.  I am teaching two classes for the first half of the spring semester, which pays me nearly the same amount every two weeks as my full-time job.  I am also nannying for several mornings in February.  This is FANTASTIC news for my debt payoff plan!

Have a great week!

~Autumn

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