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Browsing posts in: Monthly Spending

Landed More Work and Back in Therapy

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More work and Back in therapy

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As I mentioned a few posts ago, my partner had a reduction in bonus income, which I’ve been trying to make up for by finding new clients. The first prospect that I found ended up only needing me to complete a one-off project.

However, I’ve since landed a client who needs regular weekly newsletters. Plus, one of my existing clients increased my workload. Between these two projects, I’m earning enough to make up for the decrease in bonus income. With the seemingly tenuous state of the economy, I didn’t think I’d be able to drum up extra work this quickly, so I’m very grateful.

Back in Therapy

Another change I’ve made recently is starting back up with therapy. One of my family members is sick, which has been taking a toll on me. In years past, I would’ve tried to struggle through this difficult period on my own to the detriment of my mental state. But now I realize that kind of grin-and-bear-it attitude isn’t healthy.

I only think I’ll need therapy for a few months as I adjust to this ongoing stress. I was lucky that this new work came through at the right time, giving me the ability to return to therapy without worrying too much about the cost.

I’m also planning to look for a free online caregiver support group. If I find a good one, I’m hoping that it may be able to take the place of therapy. Besides my ADHD medication, I don’t want to continue to pay for mental healthcare for the rest of my life. I want to find some other supports and resources so I no longer need a therapist.

Professional Development

My partner has also made progress on professional development at work and has found a mentor. The mentor is in the department that my partner wants to switch to, so this is a positive step in the right direction. They’re going to meet a few times in the upcoming months for shadowing and training. Hopefully this will help my partner be more prepared to interview for the role that will be opening in that department in the summer.

With my workload increasing, I don’t think I’ll have time to complete the financial coaching certificate that I want to get. However, upskilling has been on my mind recently because of the changes that are being made to the classification rules for independent contractors.

My understanding is that it will be much harder to prove that you’re a freelancer, and not an employee. This could make it more difficult for freelancers to get work. Clients may be more wary of hiring us due to the risk of incurring misclassification fines. These changes are similar to the AB 5 law that was passed in California and caused a 10% reduction in self-employment.

Although this is a bit concerning, I just plan to monitor the situation and keep my professional development plans in my back pocket. If these rules make it harder to get work, I can always pivot by getting new certificates to improve my skills and grow my career in new directions.

Are any of you freelancers as well? Are you worried about these new rules? Let me know in the comments.

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The Bonus Changes Are Worse Than We Thought

Still Looking for More Work

In an Ideal World

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When I first began interviewing for my new job, I knew I was going to have to negotiate a salary. And for the first time ever, I left my heart out of it. I did not focus on how much the business could afford or being reasonably priced to get the job.

I knew I wanted this job. But I also have finally learned my own worth. I have 20+ years experience in my field, extensive amounts of study, skills, certifications, and testimonials. I bring a lot to the table professionally.

But I have always SUCKED at figuring out what to charge for my services. And notoriously I have low balled because of my empath tendencies and lack of confidence, but I was determined not to do that this time. Or ever again.

So I started with a budget. In an ideal world, pie in the sky, what do I NEED to bring home and what do I WANT to bring home financially. Obviously, we all want to bring home a million dollars a year. Or even $200,000. However, this budget was based on my needs and then my wants. And being reasonable.

This is what I came up with.

Ongoing Expenses
PayeeMonthly Amt
Mortgage$1,014
Utilities$350
Internet$77
Phone$61
Gas$80
Food$400
Dog$160
Netflix$23
Pandora$5
Cloud Storage$6
Car Insurace$500
Spending$200
QuarterlyMonthly Amt
Pest Control$27
Car Maintenance$100
AnnualMonthly Amt
Siteground$30
Domains$12
Social Curator$25
Elementor$17
Microsoft Office$9
Dog Health$100
Ongoing Mo Expenses$3,196
Debt Pymts$2,744
Monthly Must Have$5,940
Savings GoalsMonthly Amt
Christmas$167
Kid's Birthdays$84
Travel$417
New Car$300
Move$500
Savings Goal$1,468
Monthly Want to Have$7,408

Ideal Income

This led me to the starting point of my salary negotiation.

I must make $3,196 for just day to day living expenses + $2,744 to keep making minimum+ payments on my debt (i.e. make progress to paying it off) = $5,940 per month take home pay.

I want to make an additional $1,468 per month to hit my savings goals, which equaled $7,408 per month in take home pay.

Knowing that I needed to leave room for negotiation and being a contractor which adds additional taxes to my income, I started my salary negotiation at $10,000 per month. And praying to hit $8,000.

As we talked hours, availability, job description, terms, we finally settled on the $6,000 figure for 20 hours per week per month for 6 months.

I was so freaking happy after this past year. And so immensely proud of myself.

The Start of Something New

I am now two weeks into my new role, and I LOVE it. My brain is being challenged again. I am getting to help build a team. And we are striving to hit BIG GOALS. And the owner/my boss is an amazing human to work for and someone I really admire professionally. (We worked together several years ago.)

I am praying that this role will continue, but it is certainly dependent on me meeting some lofty goals. I’m up for it though. But either way, I just know that this is the start of something new for me. And the mental health affect of this new job, challenge, especially after last year has been amazing. It’s so nice to be so motivated and hopeful again.

If you are an expert at salary negotiation, I would love your feedback. Because I am really bad at it. Really bad. But this was a really big step for me.