May 2024: Working 2 jobs - is it worth it?
Main goals
Still the same as last month - focus more on SO's student loans and slowly complete the full 6-month emergency fund on the side.
Major developments
We finally dropped down below $20k for our last couple hurdles for the student loans! And we did that in a month by taking on a part-time job working in retail / customer service.
We basically got side jobs by approaching small businesses in a business area and offering to work if they had any available openings. We were accepted pretty quickly and then started working in May.
The wages are pretty much on par with the industry. Of course, I wasn't getting paid anywhere close to my day job, but it was still way above minimum wage and definitely helped us chip away at the loans, as almost 100% of our part-time job earnings went straight to the student loans.
So far, it's been tiring but fun juggling 2 things, so it's been worth it. But also, it's only been a month so we will see how things go. At least I feel more at peace with having 2 jobs since I am not dependent on the extra income and it will be easy to quit the lower-paying one if things get too overwhelming.
The end is almost in sight! Actually paying off these loans - maybe even before this year ends? - makes me so excited...
The numbers
Category | Amount | Notes |
---|---|---|
Net worth | $45k | |
Rent and utilities | $1.2k | |
Groceries | $0.7k | Better weather - more bike trips to the grocery - more grocery food! |
Medical and health-related | $0.2k | Started medication for some skin issues |
Transportation | $0.1k | |
International / visa-related | $0 | |
Home maintenance and supplies | $0.1k | |
Pets | $0.1k | |
Dining out | $0.7k | We've been going out to dinners with old friends, but also been eating out a lot more since we have been working in the business district. Oops... |
Entertainment | $0.1k | |
Gifts | $0.1k | Care packages for family |
Travel | $0k | This is going up as we're planning several small local trips this summer. |
Miscellaneous | $0.9k | Some "fake" spending, where I paid for my friends and they paid me back. |
Total | $4.3k |