After twenty plus years in the classroom, I turned in the keys to my room for good. I couldn’t even finish the year. It had become unbearable. Double classes, disrespectful students, entitled parents, increased expectations, and poor compensation in a post pandemic era had finally taken its toll. The one thing that I knew would come into play on a serious note was an understanding of my financial flow as I left head first into self employment. Gone are the days of direct deposit every two weeks like clock work. Welcome the irregular pay day and a new way of paying my bills.
The first thing that I did was create a cushion as my transition approached. Summer tends to be slow and I have to be able to take care of myself. Two advisors were brought on board to handle insurance and retirement planning. Texting with my accountant increased and a new budget planner was purchased. All bills have been removed from automatic debit, and cash is my first method of choice these days. One basic budgeting strategy that I follow is to pay everything that is due within the next two weeks. This has been key. I use the change from my groceries for gas and coins are also added to the tank.
I make my own coffee and cook three meals throughout the week. Medical appointments are planned accordingly. While I am unable to stuff cash into all of my envelopes, the major ones are full. Mortgage, food, and gas are always my top priorities.