Breaking Down Goals, Facing Fears
Phew, it's been awhile since my last update. Paying off debt (shocker!) takes a lot of time and energy!
I’ve realized that, having such a huge goal in front of me, I need to break it down into pieces. I am working with multiple sources of income to obtain my goal of $20,000 and my eventual, bigger goal of being completely debt-free. A few weeks ago, I sat down and tried to figure out how many sources of income I had and what I could realistically make in one year if I really pushed myself.
My tentative schedule so far:
My regular salary: $10,000 (this is what I think I can put towards my debt with budgeting).
My second job: $3,000
Apps, Paid Websites, and Blogging/Vlogging: $1,000
Sales (either selling my own possessions or a sale from my Melalueca business, etc): $1,000
Of course, I have a visual reminder hanging on my refrigerator to help me!
So, that leaves me with a minimum $5,000 to come up with (assuming I’m able to make all these other goals). I’m hoping for a tax refund, but last year I broke even so there's no guarantee that that will change or that I won't have to pay in (granted, breaking even is the result you want- a refund means that you just loaned the government that money interest-free- but a big check would be nice right now!). The good news is, I found a summer job waitressing at a private country club! Hopefully, I can rake in at least $5,000 there.
I’d be lying if I said I wasn't a bit nervous; I had two serving jobs in college and I liked the fast pace and the chance to make more money when you worked harder, but I had the meanest bosses I have ever had in my life (and I’ve had plenty of part-time jobs in my life!). I could tell 30 seconds into the interview that the manager at the country club was nothing like my former bosses, and, even if she was, I have the option of leaving now- this job is to get ahead on student loan payments, not pay for rent or groceries. Still, there is definitely some fear and anxiety coming to the surface. I could take an easier job this summer where I know I would do well and be “liked” by my bosses, but I would be lucky if I made $2,000 working retail or cashiering, especially in the slower summer months. But, my goal here isn't to be “liked” or to have it easy; my goal is to get out of debt and be financially free to pursue greater goals (more on that in a future entry). If I know that I am working to the best of my God-given ability and that He is pleased with me, then that is far more rewarding than the favor of any employer.
Payoff Update:
Paychecks from tanning studio:
-$171.63
-$194.24
Regular student loan payments:
$140.91
Squeezed out of Budget (I think I’ll call this “Squoob”from now on. Because it's fun to say):
$425.00
Pact Rewards: $10.11
Sales:
Pageant Evening Gown: $126.10
Exercise Resistance Band: $8.00
Fish Tank and accessories (after the passing of my beta fish :( ) $20
Total: $1,095.99
Total in 2017: $2,078.45
Average debt paid per day: $24.74
On track to pay off: $9,031
The final number keeps getting smaller as the year goes on. Hoping this summer will change that!
At least the top of the jar is empty!
I’ve realized that, having such a huge goal in front of me, I need to break it down into pieces. I am working with multiple sources of income to obtain my goal of $20,000 and my eventual, bigger goal of being completely debt-free. A few weeks ago, I sat down and tried to figure out how many sources of income I had and what I could realistically make in one year if I really pushed myself.
My tentative schedule so far:
My regular salary: $10,000 (this is what I think I can put towards my debt with budgeting).
My second job: $3,000
Apps, Paid Websites, and Blogging/Vlogging: $1,000
Sales (either selling my own possessions or a sale from my Melalueca business, etc): $1,000
Of course, I have a visual reminder hanging on my refrigerator to help me!
So, that leaves me with a minimum $5,000 to come up with (assuming I’m able to make all these other goals). I’m hoping for a tax refund, but last year I broke even so there's no guarantee that that will change or that I won't have to pay in (granted, breaking even is the result you want- a refund means that you just loaned the government that money interest-free- but a big check would be nice right now!). The good news is, I found a summer job waitressing at a private country club! Hopefully, I can rake in at least $5,000 there.
I’d be lying if I said I wasn't a bit nervous; I had two serving jobs in college and I liked the fast pace and the chance to make more money when you worked harder, but I had the meanest bosses I have ever had in my life (and I’ve had plenty of part-time jobs in my life!). I could tell 30 seconds into the interview that the manager at the country club was nothing like my former bosses, and, even if she was, I have the option of leaving now- this job is to get ahead on student loan payments, not pay for rent or groceries. Still, there is definitely some fear and anxiety coming to the surface. I could take an easier job this summer where I know I would do well and be “liked” by my bosses, but I would be lucky if I made $2,000 working retail or cashiering, especially in the slower summer months. But, my goal here isn't to be “liked” or to have it easy; my goal is to get out of debt and be financially free to pursue greater goals (more on that in a future entry). If I know that I am working to the best of my God-given ability and that He is pleased with me, then that is far more rewarding than the favor of any employer.
Payoff Update:
Paychecks from tanning studio:
-$171.63
-$194.24
Regular student loan payments:
$140.91
Squeezed out of Budget (I think I’ll call this “Squoob”from now on. Because it's fun to say):
$425.00
Pact Rewards: $10.11
Sales:
Pageant Evening Gown: $126.10
Exercise Resistance Band: $8.00
Fish Tank and accessories (after the passing of my beta fish :( ) $20
Total: $1,095.99
Total in 2017: $2,078.45
Average debt paid per day: $24.74
On track to pay off: $9,031
The final number keeps getting smaller as the year goes on. Hoping this summer will change that!
At least the top of the jar is empty!
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