First and foremost, Happy Easter to all!
I think I will get a paper check for the stimulus since I paid in 2018 and 2019. So far, there is no way to give my direct deposit information. Anyhow, this is where it is all going.
$459 to pay 2019 federal taxes
$110 to pay 2019 state taxes
$31 buffer in checking account
$200 to pay off my credit card (I used it a bit before my disability kicked in).
$100 to my emergency fund.
The remaining $300 is going to sinking funds.
Medical (includes Dental/Eye)-$60
Viewing the 'Personal Finance' Category
First and foremost, Happy Easter to all!
In addition to the new teaching job, I got offered more responsibility with my editing job. I am adding an hourly position which will consume about 8 hours per week. I took this because it is interesting, and the teaching job could end at any point. However, I will have practically zero free time.
Since I want to keep saving more for retirement, replace my car and buy a home within the next two years, every extra dime will go to these goals.
After I get a couple paychecks, I will add the savings to my sidebar. I need to pay off this personal loan as well. If I pay as usual, it would be paid off near the end of February. At this point, I want it paid off no later than Thanksgiving.
I've said it before, jobs tend to fall in my lap. It happened again. I was on the website looking for what was available for subbing next week. There was a note that one of the local high schools was looking for an English Teacher/long-term sub. I called and within 2 hours had an interview with a follow up interview today. I got the job. I start on Tuesday. It could go a few weeks or all year. That is up in the air. The pay rate is double what a regular day-to-day sub gets.
I am going to live on my regular budget. I will pay off my personal loan by the end of next month. The rest of the extra will go to savings for the summer months and my IRA.
It will be a challenge. The students are on week 4 and have different subs in nearly every day. However, it's a great district, so I am hopeful it will turn out fine!
P.S. My daughter's flight made it here with no issues! I will let you know what damage her area gets.
I paid $145 to the IRS in August. I will pay it off later this week when I get my final check for caring for grandma. I am plugging along with the personal loan.
Last month, I also cashed out for a $3 Dunkin Donuts card and a $25 Amazon gift card through Swagbucks.
On the health front, now that I am going to be home on a regular basis, I hope to get in the pool at least five days a week for at least a half hour.
I am toying with the idea of purchasing a house in 2019. I am not sure it is feasible, but I am getting my ducks in a row. I want a small home with a mortgage of no more than $80,000. I should be able to do this in the town I have targeted. If not 2019, I should be able to do it in 2020. I will keep you all posted.
I hope everyone has a safe and happy holiday weekend!
My grandma's habit when she had her faculties was to go to the bank at the beginning of the month. She would pay her bills, put a little in savings and pull out cash for her groceries and spending. She was responsible when it came to her finances.
I wanted to use the money I was paid for her care wisely. She worked hard to earn this money. I wanted to know she would be proud of me. I accomplished the following from April through now.
-Cash flowed car repairs/maintenance
-Cash flowed new laptop (definitely a need)
-Cash flowed Vegas trip coming up in November (business other than the last day is for pleasure)
-Saved an additional $300 for loss of income during trip to Vegas
-Paid off a personal loan and the IRS and have made a large dent in another personal loan
-Added an additional $50 per month in my IRA
I am satisfied with where the money went, and I hope she would be too.
Now that I have started subbing, I can finally get my act together financially. Of course my income will still fluctuate, but I have more income overall. I based the budget on my regular bills and taxes. I did not include savings. I need $2100 to pay my bills and taxes (They take taxes for subbing, but I am an IC for all my other jobs). Beyond that, I am splitting the excess between an EF, an overhead account (for any additional taxes and summer when I am not subbing) and my IRA.
I figure my average income will be about $2800. This is low for my age and education. The long-term plan is to get certified in MI and obtain a full time position by next fall.
On a side note, I will get health insurance through the subbing agency (kicks in Jan. 1). It isn't wonderful, but it's something. It is also over three hundred dollars a month cheaper than anything I would get through the ACA. I will pay $110 a month for mostly preventative care coverage (part of the $2100 budget). I do have critical care insurance for $50 k as well I purchased on my own. I dropped the dental I had on my own. I am going to use the dental program at the community college. Cleanings and xrays are $25 total. Major work is $65. The subbing agency offers a 401 k, but there is no match. I am going to stick with my IRA.
It was lower than anticipated. I have three payments that were expected by the 31st that haven't rolled in yet (probably in today or Monday's mail). The grand total is $752.77.