Whew. It’s been some time since I posted an income report. I was struggling with my gig schedule at the time of my last post and the busyness of the Fall/Winter season just pushed me over the edge and I didn’t have the bandwidth for it.
Nevertheless, I’ve refocused and now have new streams/routines to report.
Since the last report, I dropped iTutorgroup (it was not a good company to contract for) and have picked up a different teaching company (EF). I also now have a recurring dog walking client and sporadic dog boardings as well.
Earning by gig
As for the monthly budget allocations, this is where my money went:
Car insurance: $195/195 (I now pay for both cars)
Jeep payment: $258/$258
Verizon Mint Mobile: $0 (paid off phones and switched carriers)
Groceries: $222.99/$250 (I began a new grocery budget challenge)
Gas: $0/$172 (haven’t driven during Coronavirus)
Netflix: $6/$6 (my share of the family plan)
At&T Internet: $70/70
Florida Blue premium: $127
Chase CC minimum: $40
Citibank CC minimum: $208
Paypal credit: $33
Discover loan: $369/$369
Amex payment: $5
You’ll notice the cell phone and gas categories have a zero for this month. I work from home anyway, but the pandemic kept us home virtually 24/7 so I spent nothing on gas this month.
We decided to bite the bullet and pay off our phones last month. This gave us some options. I switched our phones to Mint Mobile (a sort of prepaid, buy in bulk carrier) and did not have to pay anything this month. The catch is that you must prepay your months of usage in order to secure the low rate of $15 a month per line (for 3 gb data per line). I plan to pull together a year’s amount for both lines within the next two months and then I will set aside $30 a month as a budget line item so that next year, when it’s time to pay for a year’s worth again, I will have that money set aside. This required some up front costs but this move essentially lowered this particular bill about 80%.
We’ve shuffled the bill responsibilities a bit in our household so I am paying more/different bills than in previous income overviews. Overall, I paid out $1623 and had a difference of $834.
Of that sum, I set aside $250 for taxes and $100 to go into an IRA account. This year, I have quarterly tax payments and $250 a month satisfies them. The $100 per month that goes into my IRA will qualify me for a tax break on next year’s taxes.
The leftover amounts in the grocery and dog funds were sent to a holding account in Qapital so that I know how much I have available if the dogs need something or if I need/want extra grocery money.
Beyond that, I set aside $250 to go towards purchasing gifts for Mother’s Day, Father’s Day, my grandmother’s birthday and my sister’s graduation gift. It’s a busy month full of gifts.
The remaining $223 went to pay off my Paypal credit balance.
I’m pleased to have checked so many boxes with this month’s income. It was a stressful month with so many classes canceling through VIPKid (coronavirus has created a strange financial situation for everyone around the world.) I also did not do any deliveries through Grubhub or Doordash due to the pandemic concerns. I hope to resume a few per week at some point in the coming months.
Interestingly, online sales have been chugging right along even though I have put it completely on the back burner since I couldn’t go to stores to find inventory to sell.
Every month comes with its challenges but I feel that I am moving in the right direction with the collection of gigs in my arsenal. After the pandemic caused everyone to rethink their traditionally “safe” jobs, I was more grateful than ever to have a handful of ways to make money. I am exploring new avenues and hope to have some success stories to report on soon.