Hi everyone! My name is Alexa I am a 26 year old single mother to two little girls ages two and four. I am recently divorced and trying to adjust to making it on my own. I have two jobs that both bring about the same amount of income. Job number one is bookkeeping for a department store and job number two is an insurance agent. I keep myself very busy between two kids and two jobs!
Income and Expenses
I bring home around $36,000 a year from both jobs combined. My expenses run just under $1800 a month so I still have a decent amount to save after I pay the bills.
After getting divorced I decided to buy a trailer and put it on an extra lot my family had so that I didn’t have to worry about a high rent or mortgage payment. I took out a $10,000 loan for this. It is a four year loan with a monthly payment of $226. This is the only debt that I have. I don’t view this as a bad debt, it is simply my cost of living just as your rent or mortgage payment would be.
I am a very goal oriented person and a finance nerd. My current goals are to try and keep my expenses low so that I can save enough money to be able to quit one of my jobs. I also am trying to start up a side business online. I have a few projects that I have been working on and I am giving myself a year to build up my online income to replace one of my current jobs.
I would also love to be able to invest in real estate. I have considered just staying put for a while and saving enough money to buy a rental home before buying a house for myself. I live in a small town in Ohio so foreclosures go for around $20,000 to $30,000 so this is also doable but probably won’t be for at least a couple of years.
Well that’s me in a nutshell. If you would like to learn more visit me at Single Moms Income.
Crystal’s Comments: Wow, two kids and two jobs and savings! Way to go! Good luck on replacing one job’s income with your online endeavors.
I brought in about $5,000 the first year of blogging from BFS (all in the last 8 months of 2010), $20,000 from BFS in 2011, and $15,000 from BFS in 2012 (I was a PR0 for about 7 months of 2012 which slowed me down). I also made an additional $4000-$5000 just from staff writing in 2011, so making money online really is a great way to replace a small income.
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FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year. I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!). Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!