• Zach

Savings Journey: June 2018

Updated: Feb 22, 2019


That red one shouldn't be there :(

There was awesome news, and a stupid mistake this month. Awesome news first! I surpassed my savings goal for this school year!!! My goal was originally $15,000 because it was a new job and a bit of a pay cut. Then I saw that I would reach that easily and upped it to my more traditional goal of $20,000. This month I zoomed past $20,000 and I still have two more months to go! Right now I've saved right around $21,000.


Now I can blow my whole pay check on summer fun!


But it should have been about $600 more, because I made a stupid travelling mistake today when I was supposed to fly back to the States. I didn't have my old passport with me, which contained my residence visa because I didn't know I needed it. By the time I was informed that I couldn't board the plane, there was no time to go home and get it. So I had to re-book my ticket for the next day, and of course the difference was $600. This was not a good way to start my summer break. It also screwed up my target savings rate for the month and took it from a very healthy 50% to a less inspiring 35%. ::cue sad trombone music::


So now, anything I don't spend from my paychecks for July and August is further over my updated goal, which makes me feel good about spending as much as I want back with my family. Of course, I probably won't try to blow it all, that's not really my style, but it's nice to know I can if I want to.


That confidence also allowed me to cancel renting out my apartment this summer while I'm gone (sort of an AirB&B thing). I wasn't comfortable packing up my apartment and having people I don't know living in my space, even if I would get some money out of it. That's the benefit of hitting your savings goal and getting a little taste of Financial Independence. You can make decisions that may cost you money in order to put yourself in a more comfortable situation.


I guess I can't be too mad. I am the Happiest Teacher after all!


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Currently in Dubai, UAE