by Hope
For the first time in over two years, your girl is bringing in full time income again!!! I have officially accepted a full time offer as a contractor increasing my hours, compensation, and giving me a modicum of security with my current role. There is no timeframe in my current contract (meaning there is no term, we are expecting this to be a long term relationship) AND I did get a 6 week notice built in should we agree to terminate. So I have a full time job for the foreseeable future!
I’ve got plans upon plans upon plans. All of them focused on getting completely out of debt while building a hefty savings account. That’s really all there is with this update. I just wanted to jump on and share.
My monthly income from this role is $12,000, before taxes, of course. However, I am paying $50 of that before I receive it back into the company for a software subscription that I plan to use to build a passive source of income for my existing business. Not sure what that looks like yet, but do know that this is the platform I wanted.
So income to my account will be $11,950. Then I’ve got to figure taxes, etc. in the next month or so. But phew, I am so grateful for this role. I love what I’m doing. I’m really good at what I’m doing. And frankly, the owner has been a wonderful client for 6ish years so I trust him and we have a great working relationship.
Let’s go!
Hope is a resourceful, solutions-driven online business manager with over two decades of experience helping clients streamline operations, manage projects, and grow their businesses through digital marketing and technology.
But life has a way of rewriting your plans.
A year ago, Hope made the decision to move in with her aging parents full time – a season she wouldn’t trade, even as it came with its own financial and emotional weight. Earlier this year, she lost her mother, and is now walking the tender, disorienting path of grief while learning what “forward” looks like from here.
Hope came to the Blogging Away Debt community in 2015 as a single mom raising five foster and adoptive children. She’s written through job changes, financial setbacks, and the bittersweet transition to an empty nest. Her kids are finding their footing in the world now – and so is she.
Rooted in faith and fueled by the same perseverance she’s brought to every hard season, Hope is ready to face her finances with fresh eyes and an honest pen. She believes that clarity, courage, and community can change the trajectory of anyone’s story including her own.
She lives in Austin, TX with her dad, loves adventures with her dog Addie, and is figuring out, one step at a time, what this next chapter is meant to be.
Wow. I am really happy to see that income number. I really think you should be trying to live on a bare bones budget, so more than half of this should go to debt/ saving – pretend it really is not there!! Will you keep the other part time gig?
Yes, that’s the plan as long as it is feasible. I do genuinely enjoy having a reason to get out of the house occassionally.
Why are you paying $50 a month for something that you don’t yet have a use for? Wait until you know what you’re doing and then start the subscription.
This is a really big shovel, Hope. If you just dig your heels in for the rest of the year, you could have some massive peace of mind going into 2025. Try not to let lifestyle inflation kick in – continue to work to establish a lifestyle that doesn’t need big dollars to sustain. Take pride in your growing savings accounts while permanently eliminating high interest debt from your life.
Yes, I most definitely am. This blog is definitely a good accountability partner.
Was really exciting as I was playing with my numbers once we settled on agreement to be able to add in my student loan and watch it just drop. (After the consumer debt is gone, that is.)
Coming soon!
I am happy that you have a job you enjoy doing. You, however, need to bring those monthly spends down( and yes I read $1500 is going to savings although technically it’s $1000 to savings and $500 to family travel.) There needs to be a happy medium between $2500 barebones budget and $9000+ a month budget. Now is the time to get those financial ducks in a row.
Yes, the big spends are all debt payments versus inflated lifestyle.
By planning out my spending and paying all the bills at the beginning of each month, it really helps me control any extra spend.
Congratulations! Hopefully you can pay down all your debt in just a short time and start stockpiling savings so you’ll be in a good spot when this contract ends. Don’t let this big win get you off track.
YES! Definitely agree and laser focused on this.
Congratulations!
Thank you!
Wonderful news Hope!!! So happy for you!!
So happy to read this! Congrats Hope. Keep your barebones budget, stay current with your new tax liability, and rip through your debt! Can’t wait to read about your progress. I’d also like to see you start saving for retirement. You’ve got this!!
Thank you and that is definitely the plan!