Becoming Debt Free in 2009

January 14, 2009

I’m So Excited

Filed under: Journey to Debt Freedom,Part-time Job — ambercouric @ 3:34 pm
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I know I’m posting twice in one day.  And this really has little to do with personal finance but I have to tell someone.  Actually, I did talk about tutoring students for the SAT here.

I just found out that one of the students that I tutored for the SAT had a 360 point increase in his score.  This was just for the Critical Reading/Math sections.  If you include his writing score his total score went up more than 400 points.

I am so excited.  All of my students have improved but none have improved this much.  Needless to say his mother is thrilled and has been telling everyone to call me.

December 6, 2008

To Get A Job or Not To Get A Job

Filed under: Kids,Part-time Job — ambercouric @ 2:07 pm
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To get a job or not to get a job is the question.   Ashby, my son that is in college, and I have been discussing this topic.  We seem to be differing on the answer and our opinions are probably the opposite of what you would think.

Ashby doesn’t work during school.  He has held one job for a long term but when he started college he quit.  He has enough money in the bank that could carry him for a couple of years.  This is based on his weekly spending of about $20.  He has a scholarship that pays everything for school including books and he even has a few hundred dollars left over each semester.

He has several opportunites for the summer that do not pay but would be great experiences.  I personally think that at  this point with the economy so shaky he should not get a job but take advantage of the other opportunities.  We could easily fund him an allowance if he feels like he needs more money.  I feel that with so many people losing jobs (more than 500 in our town 2 days ago) that the job should be saved for someone who really needs it. 

His reason for wanting a job is that he doesn’t need to waste the summer.  I won’t stop him from getting a job if he really wants to but I think that at this point it is not necessary.  I will also say that if he didn’t have the scholarship I would be encouraging him to work.

What is your opinion?  Should he work or not?

November 9, 2008

Extra Income Sooner than Expected

Filed under: Part-time Job — ambercouric @ 11:10 am
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I had a parent call last night wanting me to tutor her daughter. I had planned to let the holidays pass and start in January. This way I would be tutoring for the SAT’s for the last three dates – March, April, and May. But this student has to take the January SAT because she is a senior and the deadline for her preferred school is February. She only needs an increase of 60-80 points to put her in the “guaranteed” acceptance range. This school is her only choice so instead of hoping that she would still be accepted with the current score she wants to take the test again.

This will give me an extra $200 per month for the car payment.

Add this to the $200 Diet Coke money and by December I should be paying $1100 a month on the car.

November 4, 2008

The bills are paid -Maybe part-time job

Filed under: Part-time Job — ambercouric @ 11:03 am
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The bills are paid and I have about 13 more days before we get paid again.  So I have the next two weeks to sit back and think about paying bills.  I think this is the worst time in trying to pay something off.  I can’t wait to get my next car statement in the mail so I can pay the bill.

This would be the perfect incentive to get a part-time job where more paychecks would be coming in.  I use to sell on eBay but I just don’t like doing that.  I have also tutored for years but have never charged.  Now, I have the opportunity to tutor 6 high school students for the SAT.   What I teach are mostly strategies and specific math techniques. The students usually increase their scores by 200+ points.  Right now I have a student who increased his score so significantly that his test is being reviewed.  This of course has given a little bit of demand for my services.

So, I need to decide if I feel comfortable charging.  I know everyone else charges and parents expect to pay.  Tutoring the 6 students I would make $1800 in a six week period.   I would work about 10 hours a week.  There is another guy who does this and he charges $100 an hour.  My price works out to about $50 for 1.5 hours.  There are some differences in the other person and myself.  One is that he is more than an hour away.  The other is that he has a business and this is all he does so his price is justified.  In the past I would have just tutored and not taken any money but the parents are expecting to pay and I could put that money on the car.    I could actually tutor a total of twelve students from January to May.  This could be a potential $3600 for the car.    The ones that I tutor for free I would continue not charging but any new students would be asked to pay.  The six students that are currently requesting my service are expecting to pay.   

Have you ever volunteered a service and then began asking to be paid?  is this just an example of Dave Ramsey’s philosphy that good things happen when you are doing the right things with your money?

Oh yeah – Everything is not perfect.  I bought chips yesterday.  Went into the store and came out with only chips – NO DIET COKE.

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