Since I’m blogging every day in June, I wanted some of my posts to be about me so you can get to know the girl behind the blog. Today’s post is one of those: What would I do with $1000 extra dollars?
I did this post a while ago about what I’ve spent during a month in quarantine. That was such a fun post because it really helped me realize what I was spending money on. I have also realized that I don’t always stay in my budget. I actually was well beneath it in May; however, because I paid for school I technically wasn’t. I don’t factor in school to my normal budget because I only pay for it 3 times a year. I do factor in my $800 a month that I put in a separate account to make sure that I have that money. I also cannot create a concrete goal for my education savings in Mint (the app that I use to help with budgeting) because I do pay for it 3 times a year. I am going to attempt to do it by semester just to see how that works out, but we will see. I wish there was a way to have micro savings goals in the app.
I also really started thinking about this same question with the stimulus check came out for COVID-19. Obviously, most people got $1200. I put mine straight toward my housing fund because at the moment I don’t have rent or another bill to put it toward.
Well, I thought I would actually have a super concrete answer to this question. However, I don’t. I’ve been super focused on budgeting and staying within my budget (which is a pretty big deal for me). I essentially have a little over $800 a month that I can budget out for things besides my house fund and school. This obviously doesn’t leave me with a lot of extra spending money. However, I also normally have a second job that helps buffer that $800.
When I think about how I would best use $1000, reasonably, my brain tells me to put it toward my school fund. That means that I don’t have to be as aggressive in my savings per month.
I could also put it toward my house fund and give me some buffer months. My goal was originally December 2022, however, at my current rate I’ll reach my goal in September 2022. That is, as long as my current financial situation stays the same. I always try to save a few extra hundred dollars each month in this fund to help me reach my goal faster. I also know that when I’m not paying for grad school anymore, I’ll be able to put even more money toward that fund.
I don’t think I would put it toward spending money, just because my education and house fund are that important to me.
What would you do with $1000 extra dollars?