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Extra Income & Found Money Report
I am on baby step #6, pay off the mortgage, of the Total Money Makeover. The extra income and found money report is a way to keep track of all the extras that can go toward my goal of paying my house off in 5 years or less. It only took me 5.5 years to pay off $104,616 in debt, so I figure if I put everything I have learned to work, I can get the house paid off in no time.
There are two ways to “get” more money for a financial goal. The first is to “find” money, by cutting expenses. The second is to make more money.
The income below includes all income that is not from my full-time/civilian job.
|Createspace – Book Royalties||12.47||219.63|
- Createspace is for a book I created in 2013 as a personal challenge. It is not advertised, but it is available for sell Amazon. Most months it adds $20 or so to my pocket.
- Interest Income is so small it is often forgotten about, but it adds up over time. I actually forgot about it until I met with a financial planner and she told me about a savings account that earns 1.2% in interest. This isn’t alot, but it is more than the $2.82 I made this month. The part is I don’t have to work to get the money.
- Military Reserves is the best part time job a girl can have. I report for duty 2 days per month and two weeks per year. This month I made a little extra because I worked two additional days.
- Roomie Rent is from my new roomie. I rent out the two bedroom and bath that is upstairs.
- Swagbucks is a new challenge for me. $105 in one month isn’t bad. I will keep at it and one day post all that I did to make the money.
Found money is money that becomes available after I cut back on expenses. Mostly this will be a serious of reduction in monthly expenses.
|Sprint Auto Payments||10.00|
|Internet (Rommie Half)||17.49|
- Sprint Auto Payments – Check for this saving with your phone carrier. All you do is sign up for autodraft. If you are like me and don’t like autodraft, pay the bill early so they have no need to access your account.
I actually had $1,635.30 to put towards the mortgage, but not all of it made it to the mortgage 🙁