The Saved Quarter Challenge Update
I joined The Saved Quarter Challenge this year and was aiming to save at least $21,000 by the end of 2011, but we hit that goal in mid-June!!! My new goal is to save a cool $42,000 by the end of 2011 instead! That would be a tiny bit more than 50% of our GROSS pay from our two full time jobs!!!
Here’s how I’ve done this week for the Saved Quarter Challenge:
I have better updates after the 13th of every month since that is when our billing periods end, but here is where we funnelled away money this past week:
- 401(k) – $80
- Blogging Income – $1000
That blogging income was a combo of freelance work and regular ads. I’m building my blogging income account at ING up to $10,000 by the end of September to be a backup fund when I start blogging full time.
The new $42,000 goal is hopefully going to be reached solely through 100% true savings – 401(k), Roth IRA, emergency fund/savings, home and auto maintenance account, extra cash for investments, and blogging income.
Total This Week: $1080
We can save what we do because we live off of a little more than my husband’s salary as a school librarian ($38,000 take home pay). That means we save most of what I make ($26,000 take home pay a year) and all of our hobby job incomes (reffing for Mr. BFS and blogging for me). Reffing usually brings in $2000-$3000 a year and blogging is bringing in $15,000 or more a year (we’ve already hit more than $10,000 for January-May 2011).
Total to date: $23,058 guaranteed, $18,942 to go.
I will continue posting monthly and yearly blog statistics and income updates, so stay tuned at the beginning of every month!
In case you didn’t know, Alexa traffic rankings are determined by the numbers of hits a site gets by people with the Alexa toolbar. If you want to be part of this ranking community, you can download the Alexa toolbar here. 🙂
To learn more about the Yakezie, the blogging group that has helped me in SO many ways, check out my Yakezie page! Feel free to email me if you are a Yakezie member or challenger and don’t see yourself on the list!
If you are interested in seeing how I went from an 8 million plus Alexa rank to about 50,000 in less than 8 months, you can see My Blogging Checklists, which breaks down everything I do related to blogging. If you want to see how I brought in $6000 in less than 10 months, you can check out How I Make Money Blogging.
I have also started a new site, http://howimakemoneyblogging.com/.
THANK YOU ALL FOR BEING THE BEST READERS EVER!!!
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!