Sunday, August 1, 2021

Personal Update


 I realized I had not done an update in a while about my own financial goals and progress, which I said that I would be doing.  So, here's a recap of some of the successes.

1.  I paid off the remaining balance of my Jiffy Lube credit bill used for auto repairs on this car back in 2020.  Every two weeks, I had been paying 72 dollars, so that saves me 140 per month.  Paying this off leads to another success further down in the list.

2.  I have now been at the Intown Suites over 6 months, so it has become tax free, reducing my cost by another 40 per week.. it would have been 50, but they raised the rates.  So, that is 160 less per month.

3.  I got a credit card (which I'm sure was approved because of #1) for a thousand that is being mailed to me.  I don't intend to use it, except for two things.... any needed auto repairs on this vehicle being used for driving or as a replacement for that income if I were to get another job and need to wait till first payday.  The income replacement was actually the main reason that I did this.  I have been thinking that I am not being paid what I am worth, so I have started looking for accounting jobs that are good enough for me to want to leave my current situation, which I am very happy to have and am in no rush.  I rather enjoy the driving. I'm NOT entirely sure I would give it up, but I'm willing to consider it for the right job.  In any case, the credit card will provide peace of mind about auto repair needs, while I work harder to invest the money over weekly budget into investing.

4.  And, I AM making enough to be putting away money for investing.  Right now, I have some of my things that need to get mailed to me from Oklahoma that will take up some of that weekly extra.  The rest will be saved up for investments.  When I get up enough to pay the monthly amount for rent, here, it will reduce costs by another 200 per month, meaning more money to invest.  At first, I thought of using the credit card to pay to get on monthly, but then I would have a minimum payment each month on the card that kinda makes that idea irrelevant.  I will keep the card as a backup, only, and save up for the monthly amount.

5.  On the CURRENT path with Ubereats and the costs I have already reduced (not counting the monthly rent reduction), I'm making enough to be putting aside 300-350 per month.  Once I get to monthly rent, that will be over 500 per month... by October.  Again.. that's the case if I stay as I am, not if an accounting job makes itself available.  So, there would be a good Christmas and by early 2022 I should be able to afford a better car for more driving options.  After that, my extra money will be saved up towards 2024, when my daughter graduates from high school.  At that time, I could move if I wanted..especially as Florida costs more.  So, assuming no accounting job happens, I would be able to save a little over 2 years of 500 per month or about 12,000 .. even assuming no investment returns.. which would cover the cost of a cheap house in Oklahoma for sure, but I wouldn't be limited to that location.  I'd decide when I get there.

SO.. that's all true, even if I never get an accounting job, and it provides a lifestyle of me driving in great scenery, listening to great music, taking time off when needed for other things.  There is really not much motivation to leave the path at this point, but if I found a good accounting job where I was respected for my work and paid me well... well, Florida can always be better if I had more money.  Regardless, I'm liking the way my future looks.

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