Did you get an extra paycheck in October? What did you do with the extra money?
I put the extra check towards my November expenses, but here are several more great ideas on where to apply a third paycheck.
Every month, I write up a monthly savings report to track how much I am able to save towards my money goals of paying cash for my husband’s education, building up a 3 month emergency fund, and saving for a new vehicle
While I am good at saving money, there never really was much to show for it, because usually the money is saved up only to be paid out in school tuition or car repairs.
Early in 2015, I started tracking how much money was saved each month to prove to myself, that I can and do save a lot of money. A side benefit to tracking my savings turned out to be increased motivation to hustle and save more money. I am now a firm believer in making your money goals visual.
Here is my savings report for the month of October!
Cash back from bank
Skimmed money from budget
Trimmed monthly expenses
Money saved for annual bills
- I put $1,000 from my extra paycheck towards November’s expenses.
- A couple new freelance jobs paid out in October. About 1/3-1/2 of my regular work comes from freelancing, however, I am only tracking work from outside my normal freelance sources. One benefit about working with outside agencies, is the ability to charge higher prices.
- Having a second job and seeing the money which is brought in is mind blowing!
- There were several expenses which were higher than I had hoped this month and so I wasn’t able to put as much towards the school fund as I was hoping.
- I have a new washing machine!! Last month, I had mentioned that I had finally saved up enough to purchase another washer after holding out for 6 months and using the laundry mat. The best part about it was my hubby found it for $80, which was half of what I had saved, at Habitat for Humanity’s Restore.
- My budget needs to be re-evaluated. While I have saved over $600 to date by negotiating car insurance and cell phone plans, other bills have started creeping up again.
- My new side savings project is a new mattress. Our bed is starting to have (and cause) serious issues. *groan*There is always something else you need to save money towards!
- I have a couple of money making ideas in the works for this blog of mine. It seriously needs to start earning enough money to pay for itself and become a side income stream. Stay tuned!
Previous Savings Reports...
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!