Here's the plan I've come up with...
I'm not sure if the condo situation is going to work. I don't want to rush into things just for the sake of moving out. The current plan is to save up cash to buy a condo within the next year. I think I can easily save $1000 a month for a year. If I can do that, that's $12,000 on top of the $14,000 I already have in savings which is $26,000 total. I'm hoping that in a year from now, I can find a condo in a surrounding city for about $20,000 with a maximum of $400 condo fee (which I think is doable). If I can get a mortgage another way and my business is doing well, even better. I just don't think I can get one on my own. So the only other option is to borrow money from someone or see if someone can cosign for me. I'm not holding my breath though.
Here's my estimated budget for when I do move out. Mind you, I budgeted high for some categories because I'm not entirely sure what my costs will be...
Necessities (HBC, cleaning, paper)-20
The total is $1200. I'd like to also contribute at least $200/month to my savings account. Obviously, more is better. However, that's the minimum amount I'd feel comfortable saving. So, the total income I'd like to have is $1400/month.
I'm going to open up a retirement account when I turn 24 and contribute $100/month to it. If I calculate things correctly, I think I'll have enough income to last until my last day on earth. Hopefully.
Now, in terms of my business... I think I've finally decided what sort of items I'm going to sell. I'll be starting with ebay, then gradually adding some inventory to etsy, and then eventually starting my own website if things go well. I've done my research and I think I can easily make my $1400/month income. In fact, my lowball estimate is more like $2100/month post taxes.
In order to make $1400/month post taxes, I would have to sell 133 items on ebay. There are about 5 or so other sellers on ebay that sell the same sort of item I sell. I checked on goofbay.com and the lowest amount one of these sellers has sold in one month is 204. Mind you, this person had about 400 items listed. I'll have 1000 items listed. I've noticed that the more items you list, the more items you sell. Still, if I sold only 200 items per month, I'd be making almost double my needed income. Score!
So here's the current plan. I'm going to the other house (the one I am renting with my ex roommates) next weekend to bring my stuff to my parent's garage. I have my computer and desk there. The laptop I'm currently using is so darn slow. There is no way I could keep up with my business on this laptop so I need my other computer. I will start listing some items I have around the house as well as some things I bought a couple months ago that I planned on reselling for profit. I will need to buy a high quality printer as well as some other startup supplies in order to start my "real" business. Then I have to make some selling templates, setup my ebay store, and I have to do some research and figure out a few things before I actually get things going.
I plan on having 4 accounts, 2 checking and 2 savings. One checking will be my spending account. The other will be my business account. I will have a buffer of $500 in each of these accounts just to be safe. My savings accounts will be used to hold my estimated taxes and the other will be used to hold my savings. I signed up for a program that will calculate my profits and such as well as my estimated taxes. For those who don't know, people who are self employed must pay their taxes quarterly. This program even tells you when you should send in your tax payments. It's great! I will be using my business account to buy supplies, to pay for shipping, and to hold all profits made. At the end of every month, I will see how much profit I made. I will then take the amount of money I owe in taxes for that month and transfer it to my taxes savings account. I will also transfer $1200 (which is my bill amount) to my spending savings account and any extra money I have leftover will go to savings. If I need extra money for some reason, I will just transfer that amount from my savings to my spending checking account.
Now, I'm not naive. I have thought about what would happen if in 5 years, ebay doesn't exist anymore. Or what if in 5 years, ebay is saturated with the type of item I'm selling and I can longer make as much as I need. If that were to happen, I would need to get a "regular" job. Although I wouldn't be as happy as I would like to be, I'd have to suck it up because I would have no choice.
Thanks for letting me think out loud.
Viewing the 'Budgeting' Category
Here's the plan I've come up with...
Starting next week, I'll be working one day a week at my parttime job. I'm planning on really getting my butt in gear with the whole ebay thing and getting my license.
I'm in a weird situation where sometimes I focus too much on trying to make xx amount of money in order to buy my own house and other times I think, it's ok if I'm only making xx amount of money. I need to enjoy life right now and eventually work my way up to getting the amount of money I need to live comfortably on my own.
I'm planning a couple of vacations. First, in the beginning of August I'm going to Orlando for a few days with some friends and my sister. Then in the middle of August, I'll be going to Massachusetts for 10 days. In September, there's a concert in Atlanta we may or may not go to. ANNNNND my parents and older sister had already booked a cruise in November and they asked me to go with them. I'm still on the fence about that one.
Soooo lot's of good things going on during the next few months. I've been spending money slightly more freely than I used to but nothing too crazy. Crossing my fingers that everything works out for me.
Wow. What a hectic day I had yesterday.
First, I began my week of dogsitting. She's a really great dog and I see no worries for the rest of the week. The muscles in my body are just killing me so I can't really play with her all that much. I feel like an old lady. :/
THEN I get a message from my future roomie. She got kicked out of her parent's house. She wants to get a place with me ASAP. I tell her to come over. We talk and figure out her money situation. She needs to get another job to cover some of her bills. And she needs her own car insurance and cell phone plan because her dad was charging her way too much. So she got on her own insurance with Geico. MUUUUCH cheaper rate. We then went to 2 places to see if they were hiring. She'll be getting a phone call within the next couple of days from both places so that's really great news.
We then went to her house to gather some of her things and print out the temporary car insurance card. The current plan is she is going to stay here for a week until we figure everything out. Once I feel secure with how things are going, I might be leaving this house a little early to get an apartment with her. I'm excited but nervous at the same time!
ANNNNND I got an offer on one of my Xboxes on ebay. It's $45 lower than I wanted but at this point, I really don't care. I just want it out of my house. So that's the current update. I'll let you guys know how things go.
Ugh. So I came across a couple of problems yesterday. And I'm just irritated today.
First, the person who bought my broken Xbox wants a refund because it wasn't broken the way he expected it to be. Grrrr!!!
Second, my future roomie has been hinting a lot lately that she wants to move back to Alabama. I can't depend on her for anything!! Looks like I'm going to have to find someone else.
I picked up a shift today and Thursday so I went from 15 hours to around 26. Yay! I'm going to talk to my boss about an idea I have. We changed the hours of a certain position we have and it's messing things up. So I have an idea about how to fix it. Doubt he'll listen but I'm going to try anyway.
So I'm a little frustrated right now. Ebay is giving me headaches. And I don't know where I'll be living in a couple of months. Yay.
I looooove going on vacation!! I have 3 planned so far for this year. I'm going on Saturday to Animal Kingdom for the day. I'm going to a concert in June in Jacksonville and staying for a couple of days. In October, I'm planning on going on a 4 day cruise to the Bahamas!!
And next year, I'm going on a 2 week cruise to Europe!! So excited! I really want to buy a camera to take pictures but I already have one. The problem with my camera is that it eats through batteries like crazy. Even the camera specific batteries and the rechargeable batteries don't work that long on my camera. I'm going to have to do some research...
Started thinking more about staying in this house. I think I'm leaning towards no. I'd like to leave in June, get my stuff together, and get my roommate's stuff together, and then move out.
I only worked 4 hours yesterday but felt like crying the entire time. I really don't like my job. The good thing is that they are creating some positions and one of my managers said he wants to get rid of a stock clerk so I want to stay a little longer to see if they have any opportunities for me. We'll see. I work 5:30-10:30 tonight and then I'm off the next two days. AND I have to dogsit my friend's dog for a week. Exciting lol. She's making me food though so I can't complain. Ok that's the current update. Toodles!
I was off again yesterday. In the morning I went grocery shopping with my roommate. I spent $2.08 and saved $23+ using coupons and sales. Here's what I bought:
2 John Frieda Conditioners (I have a lot of shampoo, just not a lot of conditioner)
4 Chow Mein Noodle Bowls (LOVE these and they're so easy to make... I don't care if their unhealthy lol)
2 boxes of Pop Tarts (for breakfast)
1 box of CapriSun
Then I went grocery shopping with my older sister. We spent a couple of hours going from store to store. I love going shopping with her . Then we went back to her house where she went swimming and I sat by the pool, reading a book.
From there, we went to my mom's house to pick her up for dinner. My sister was going to pay for my mom's dinner for her mother's day gift. We ended up going to Chili's. With tip, I spent $10.80. I HATE spending money but I was hungry and it was a special occassion.
I came home and my roommate wanted to talk to me. Long story short, he asked me if I'd consider staying in the house we're at now if we kick out my other roommate. This other roommate has always been the problem from the beginning. I can't STAND him. It's ackward when we're both home and when he tries to talk to me, I cringe. He asked if my future roommate would just want to move in with us. Now, we sat down and did some math and it would cost right around the same amount to stay here as it would if we rented the apartment I wanted. I definitely have some thinking to do...
So I had today off. Woohoo! It was a fun-filled day with a little bit of spending.
First of all, I mentioned yesterday that I went out to lunch with some friends. I actually ate at home so I didn't spend any money. I also mentioned that I had work 4-8:30 but I was asked to stay until 10 and I didn't take my half hour break so I actually gained 2 hours.
Today, I went out to lunch with my mom and sister. My mom paid. We went to Panera. I could eat there everyday, I swear. Then we went to buy my mom her mother's day gift. She really wanted a (expensive) bottle of perfume so my sister and I split the cost and I ended up paying $40. We also went to several other stores but I didn't spend anything at the other stores. AND my mom bought me a cute pair of flip flops!
As for ebay, I finally sold one of my Xboxes last night. It was a broken one so I profited about $17 on it but at least it's something and it's one less thing I need to get rid of.
I'm also off tomorrow so the plan is to go grocery shopping with my older sister in the morning (I may or may not buy a few things) and then out with my older sister and mom for lunch. I have been spending more money this week going out to eat than I have spent this whole year (although that's not saying much)! I'm going to try to eat at home or if I do order something, it's going to be cheap. Ugh. I hate spending money!
I've also been asking my coworkers if they want to give up their shifts next week. My goal is to get at least 26 hours a week. I was only scheduled 15 (grrr) so I need 11 more to get to 26. Doubt that will happen but I will try.
I talked to my store manager yesterday. He basically told me what I thought he would-that I need to talk to the manager that does my schedule. At this point, I really don't care anymore. He told me that they are changing the way some positions are going to be. I'm going to stick it out for a little while longer and then see if I can eventually get something more permanent.
I have 3 Xboxes listed on ebay. None of them have sold yet. Grrr!! According to the message boards on ebay, the new changes at the end of March have meant less sales for a lot of people. This is not good.
I decided to stick with Verizon and I signed a 2 year contract (and got a brand new phone for free!). I could go with Boost but I would have to buy a new phone and it would only be like $5 cheaper per month. Not to mention that Boost's service isn't all that great.
Mother's Day is coming up!! I'm not sure if I should take my mom out for lunch or just buy her some flowers and a card. The flowers and card thing would be cheaper but I'm sure she'd appreciate the lunch thing much more. I'm going to see her later so I'll ask if she has any plans on Saturday.
I'm going out to lunch with a couple of friends today. Then I work 4-8:30. And I'm off the next 2 days!
Oh and I forgot! I'm going to Orlando on May 15th for the day. A few friends and I are probably going to go to Animal Kingdom. I've never been there before. Can't wait! The ticket is around $80 and I have to pay a few bucks for gas and lunch and dinner. Hopefully I won't spend too much. I'm aiming for around $100.
So I talked to 2 of my managers today. Basically, they told me that they don't have extra hours to give me. I figured. I changed my availability so that I'm off on Saturdays and Wednesdays. I'd like to get it so that I'm off Saturdays, Sundays, and Wednesdays but I need to make sure I can get my hours first. I don't want to give up on my job because I get paid better than I would if I worked at another retail job. There's something I've been thinking about. Instead of relying on my managers to give me more hours, I can always count on my coworkers. Just today my shift was 12-7:30 and I had 3 people asking me to stay a couple of hours to cover their shifts. Almost everyday you get even one person who wants to go home early. My current roommate used to be scheduled 25 or so hours a week and he'd end up with almost 35 every week because of call outs and such. I don't like the idea of depending on others for my hours but it just might work. Starting next week I'm going to test it out to see how many extra hours I get per week just from call outs and covering shifts for a couple of hours for my coworkers.
If things don't work out, I'm probably just going to end up getting a second job. I'm planning still on applying at at least 2 places next to where my apartment will be.
As for ebay, I filed a nonpaying buyer claim today and I've been getting more views and questions on my other item. I'm hoping to make some extra money this month. And I'm going to have to start making a spreadsheet to record all my income and expenses so I can see where my money goes.
So yesterday I worked 12-4:30. Really easy shift. Roommate brought me to work and I had mentioned that I'd pay him but he never asked about it so I'm going to keep my mouth shut lol. I had every intention of talking to my manager about getting more hours but it was way too busy so I couldn't get off of my register.
However, I did talk to another manager last night. After work, I came home and ate dinner. Then I went out with my future roommate. We went to another grocery store where she used to work to see if they were hiring. Talked to the assistant store manager and she said to come back on Sunday to talk to the store manager. Then, we went to my store and I talked to my assistant grocery manager about bcoming a stock clerk. He told me to talk to his boss so I'm planning on talking to him today. I'm going to ask him if he has enough hours to schedule me 2 days a week. If not, I'm going to talk to my other manager about demoting myself to a bagger so I can do something we call "jobs". Jobs is like janitorial work. But it's super easy and no one bothers you. A coworker does it 2 days a week where she comes in at 2:30, bags for a few hours, and then does jobs. And she closes. If I could do that 4 days a week, I'd get my hours and I'd be extremely happy.
We then went to Walgreens where my roommate filled out an application. She is planning on either getting 3 jobs or getting 2 jobs and going to school. She likes being busy like that. I, on the other hand, would rather play then work all the time lol. I'm trying to help her out with jobs because I know she has more bills than I do. We're going to have to sit down to figure out her bills and everything. And I told her I would not move into the apartments until we both figured things out. I like stability.
After that, we were both hungry and ate at Steak N Shake. Spent $7 there. I hate spending money but I haven't done it in a while so I figured I'd treat myself. I also bought my mom a coffee cake for $5 because she's my main ride to work and sometimes I feel bad about it. I also pay for her gas sometimes. Well, that's it for now. Adios!
I mentioned in my last post that I was supposed to go apartment hunting with my potenial roommate today. Well, today did not go as planned. I had texted her yesterday. No answer. Texted her and called today. No answer. I started to get really worried. I spent the morning cleaning around the house and reading a book outside. I also talked to my roommate about giving me a ride to work tomorrow. I'm going to have to pay him like $5 but I'd rather do that than give my shift away. I'm trying to get more hours at work and I don't want my manager to look down on me. In fact, I'm probably going to talk to my manager tomorrow about switching positions. If I get my way, I'd get the amount of hours I want, the days I want off, and an easier job.
Getting back to my roommate... I finally got a call from her at around 12. Turns out, I had a reason to be worried. She had been drinking on Tuesday night (which was the last time I heard from her) and when she (or anyone, really) gets drunk, her mood changes. She was on the phone with her boyfriend and she threatened to kill herself. Her boyfriend called the police and the police came to take her to a rehab center. As I mentioned in my other post, she does have issues. My mom is so set against me moving in with her. I can see why she's concerned. However, she is also in the process of possibly getting a fulltime job an hour away from where I live so I know she wouldn't be home all the time.
I have a friend/coworker who is having problems with her children's father and she needs babysitters. At first, she was going to pay but she couldn't afford it and she became desperate so I offered to watch the kids once or twice a week. I'll be watching them from 10-7 on Tuesday. I don't like the idea of babysitting on my day off but I want to help her out and it's only temporary anyway.
The person who bought something from me on ebay hasn't paid yet. I'm definitely going to have to file a nonpaying buyer claim. Grrr!! Next time, when I list my items, I'll put it so that immediate payment is required. I'm going to have to relist that one in a few days. The other Xbox has one watcher which is great because I was afraid no one would buy it.
I am in a program called Amazon Vine where I get sent items every month for free that I test out and review. I usually get books because the other items sell out fast. I'm trying to get through some of the books I have. I'd like to read more for entertainment rather than go online all day. I read through one book today. I'd like to have a mini library in my new place with really cool books.
I also cashed in $20.50 from a survey site. I got an Amazon gift card. I bought 3 books and ended up paying $1.86 out of pocket. I could have bought stuff for my new place but I wanted to treat myself. I bought a self help book, a book about making extra money, and The Year of Living Biblically. Can't wait to read those.
I'm trying to figure out my money situation. If I get the hours I'd like at my part time job, I'd get around $840 a month. I calculated my bills and food and spending money and my total would come out to $802 which would leave me with around $35-40 leftover every month. This will be a little cushion if, say, a bill is a little higher than expected or I spent more than I budgeted on groceries. My paychecks from my part time job will be deposited into my checking account. Any bonuses will be added to my savings account. I get bonuses every 4 months and they are usually around $100. In addition, because I don't want to live paycheck to paycheck, I'm also selling on ebay. I'd like to make at least $500 every month however, if all my items sell at the price I'd like them to, it could be closer to $1600 a month.
I did end up going to see apartments with my potential roommate. I really liked the first ones we saw. The price is great and it is literally down the street from my job. Also, there's a pool, a park, and other amenities. I just love the atmosphere. And the actual apartments are super cute too! We went to go see another apartment but they were closed. Those apartments were close to the cemetary where our coworker recently was buried. We stopped by the store to get some flowers (I paid with change so it didn't really cost me anything) and then we spent an hour or so walking around the cemetary. My coworker was 24 when he died. He was born with a disease that effected his liver. He died sometime last year and he still does't have a tombstone. His parents can't afford one. Too sad.
I got home not too long ago. I'm about to eat dinner and then I might go out with my potential rooommate to Target to look around for house stuff. Sorry this was so long. I just had a lot to talk about lol.
I'd like to post on here on a regular basis and I have a lot to talk about tonight so let me just jump right in.
First, I'm trying to sell some things on ebay that I have around the house. I listed 2 of the 5 Xboxes that I have. One sold yesterday but the buyer hasn't paid yet. I have a feeling he/she's going to be yet another nonpaying buyer. I don't know what the heck is going on with ebay lately. A lot of nonpaying buyers and the views are all out of whack. For example, I listed a broken Xbox for $20 and a working one for $115. Both are at really great prices. The broken one received 130 views and 3 watchers before someone bought it. The working one has received only 11 views since yesterday morning. Doesn't make sense to me. Oh well. As long as someone eventually buys it...
I had yesterday, today, and tomorrow off. That also means that I only have 21 hours this week. I like to stay around 27 hours a week. I guess it'll be a bit of a vacation for me. Yesterday, I spent some time on ebay and cleaned around the house. I also spent way too much time on the computer. When I get my license, I'm going to spend less time on the computer. I just have nothing to do so my computer is my source of entertainment. Today, I spent some time with my sister and mom. We went to a few stores and then spent some time at my mom's house so I could play with my doggies that I miss so much. I spent $4 on a paper towel holder at Target. It was 75% off and it was red which is one of the main colors I'm going to decorate my house with. Other than that, I didn't spend anything. Yay!
Tomorrow, I had plans to go look for apartments with my potential roommate. I've been trying to contact her all day and she won't respond. I don't know if something is wrong with her or if she's at work or what. I know she got into an argument with a friend yesterday so she might be bummed and that's why she's not responding back. That's one thing I wanted to talk about. My potential roommate also has, well, issues. She was in rehab for 3-4 years of her 21 years of life for bulimia and eating disorder related issues. She's also majorly depressed and has a lot of anxiety. She's taking meds for everything but my mom thinks I'm going to regret living with her because of her issues. When I'm with her, she's happy and funny. But I know that when's smiling, deep down she's upset about something. I know I could get along with her and we'd have a good time living together. I just worry that she's a little untrustworthy with certain things. Hmmm...
I work 12-4:30 on Friday. And I have no way of getting to work. Lately I've been switching shifts every so often with my coworkers because I have no ride to work. I know I need to get my license. It's just harder for me to do things like that. I might have to give my roommate some money so he can bring me to work. I hope he says yes. I know he is having company over and I don't want to bother him.
Ok. So that's what's up with me currently. Hopefully I'll remember to update this tomorrow.
...is that they live at or above their means.
I make just around $860 every month at my part time job. I also make at least $500 every month on ebay (although if I have a particularly amazing month, it's closer to $1600 ). The paychecks from my part time job go to bills and I always have a little left over (around $160 but I allot $100 for spending money). The income from ebay goes directly into savings.
I have a roommate who makes $500 a week. He also blows through his paycheck in one week. The rent and a couple of other bills are due and he doesn't have the money for it. I said to him yesterday "Do you know what I could do with $2000 every month?! I'd be rich!". It's true. I'd be able to put more than $1000 in savings every month! The problem with people who make more money is that they also spend more. People who make $50,000+ a year also will buy a bigger and more expensive house than they really need. They buy more extravagant things. It is way too easy to spend your entire $2000 biweekly paycheck on things that you don't need.
This is all coming back to what my older sister said about me not being able to afford a house. Her and her husband live comfortably. For a Valentine's Day gift for her husband, my sister bought a $1300 TV. They easily spend $200 EVERY WEEK on groceries for just the two of them. I don't even spend $100 every MONTH! They go out to eat and order soda and steak. I go out to eat and order water and one of the cheapest things on the menu. And the thing is, I'm still happy.
The problem with "rich" people is that they don't know how to manage their money. With the way the job market is right now, it is way too common to hear about people losing their jobs and not being able to pay $1000 or $2000 worth of bills every month. The problem with "rich" people is that if they lived below their means, they would have been able to save thousands of dollars a month that could be put towards the bills if someone in their household were to lose their job. The problem with "rich" people is that many of them have trouble paying their bills even though they make 4 times more than I do. I know a grocery store manager who tells me all the time that she wishes she could manage her money the way I do.
If I made just $2000 every month, I'd be rich, man.
So I've been thinking a lot lately. Growing up, my parents had money. They had a good amount in savings. Never had to worry about money. I guess I sort of picked up on that because me and my sisters have a good chunk of money (at least for people our age) in our savings accounts.
So yesterday I was doing some calculations. If I bought a house and deducted the amount of money I'd use for the down payment was well as a couple grand for some things I would need for the house, I'd be left with almost nothing (at least to my standards) in my savings account. That terrifies me! And then when I started to think about the real reason why I wanted to BUY a house, buying didn't seem so ideal to me. I want to buy a house for pretty much 3 reasons:
1. I'm not happy living in my current rental house with my roommates. I can't live with people who just want to party and who have no goals in life. I want a roommate who has goals, is fun to hang out with, but at the same time have their own thing going on, and someone who is clean.
2. I want to be able to decorate my own way. My current landlords let us paint the walls. The floors need some work though. All I really want in a house is hardwood floors, being able to decorate my own way, and I'd like it to be somewhat bright in the house. My current roommates love to close the blinds and it just puts a damper on my mood.
3. I want to grow up! I don't want to be a kid anymore. I want to have my own house that I love coming home to.
I realized that I could do all those things renting a house and I'd still have a cushion in my savings account. What do you guys think? What are the pros and cons of both renting and buying?
My Easter was good. I went over to my older sister's house where we made turkey with a ton of side dishes. I had a strawberry daquiri and sipped it by the pool. It was a nice day out. Man, I love the summer.
As I mentioned in my previous post, I've had some problems with ebay lately. I've had 3 disputes and 2 of them ended in my favor and the other is still ongoing. I have 5 Xboxes to sell, an old cell phone, and a couple of random things around the house. I'm going to be selling them slowly though so I don't get too frustrated and overwhelmed.
In terms of making extra money, I think I've found something that just might work. It's going to take some time and some research but I think I can make a good amount of money off of it. I won't say what it is for now but if it fails, I'll let you guys know. Btw, the last thing I tried, I failed at. I was trying to buy broken Xboxes that needed replacement dvd drives. The time it took to receive all the parts I needed was too much so I had to put a stop to that business venture. I'm crossing fingers that my new plan works out.
So about that trip to Europe... I'm thinking a 14 day cruise. I have one picked out. It'll cost about $3500 for everything if I plan it right. Is that too much, you think? I still have to talk about the details with the friend I'll be going with.
So that's my brief update. I haven't been spending a lot lately. My friend's 21st birthday is tomorrow. I'm probably going to get her a card, a balloon, and some flowers. I also need to go grocery shopping soon but it should be no more than $20 spent. I'm also going to a friend's house tomorrow. She is redoing her house and she has some kitchen items she wants to get rid of so she's giving them to me! Yay for free stuff!