As predicted on my Week 5 results, I was able to double my emergency fund as early as on the first week of June. I received the $200 payout from my two new blogs. Here are the figures:
Target = extra $500
Windfall = $36 (no change)
ReviewMe = $40 (no change)
Temp Blogging = $45 (no change)
Text-Link-Ads = $54.24 (no change)
AdBrite = $14.85 (no change)
Data Entry Contract Work = $35
Writing Contract Work = $155.55
Blogs = $200
Total Extra Income from May to June 1st Week = $580.64
Emergency Fund Total = $1080.64
Setting up this financial management challenge is a surefire way to help one get his or her financial act together. Right when I started with the goal of doubling my emergency fund which was sitting quite lazily in my savings account, I became very eager to get hold of as many part-time gigs or any source of extra funds I can get. The common trip to the mall splurging has become a once-in-a-while affair, too, making me take a tighter grip on my earnings. It was a fun and definitely rewarding challenge for me.
I’ll be starting another money saving or extra income generation challenge next week so better stay tuned!
Tags: contingency fund, financial goal, income