How I Doubled my income this week
It's about time this little house starts carrying some of its weight around here! Little did the Ashleigh in this photo know, she would work for every dollar she earned and more.
As a full-time grad-student and veteran, the living stipend from my GI benefits are my main source of income - about $2000 per month. Now, one can definitely survive off of $2000/mo, especially while living the infamously...umm, we'll call it "thrifty" #CollegeLife.
But I don't just want to survive while in college. I wanted to live comfortably.
I want to show you why I talk about mindset before I talk about the steps to building wealth. Because wealth starts here: after the want and before the action. Know that, more than anything I write after this point, the most important part of the story is the thought process that follows.
So! Here's how I turned $2000 into $3950:
1. I leveraged what I learn in school to set a work schedule
Without taking the RN test (send good thoughts my way in August!) I
knew I wouldn't be able to work as a nurse. But, as a midwifery student, I know help is incredibly limited for families with new babies. That need is doubled for families with premature babies or babies that need a bit more care.
So, I started babysitting. I was able to set my own price point and my own hours - $25/hr for 12 hours/week.
That's an extra $1200/ month in my pocket.
Since it's earned income, $700 will go into savings and $500 will go into my Roth IRA so I can decrease the opportunity cost of not investing while in college.
2. I signed a lease with a new roommate
I finally found the second perfect roommate for my housemate and I, adding another $750 to my pocket and covering my entire mortgage.
Warning - another money mindset statement ahead. While this may seem like easy money, it's actually an investment; I invested a ton of time into making this happen. This has been in the works for a minute. It started back in April, when I cleaned all of the uniforms, boxes, and stuff I had stored in there. Then I had to buy a bed and mattress. I advertised the room on furnishedfinder.com for a month, and interviewed more than 7 applicants before finding the perfect one.
But for a year-long lease with covered mortgage payments? I'll take the investment any day.
$48,000/ year for working 12 hours a week? I'll take it!