Moolah Blog!

Recently, Tiffany from Rock Stories commented on one of my blog entries titled “Save One Check; Live off the Other!” She explained how it would be nearly improbable that a family or even an individual could possibly use this savings strategy. However, there are other ways that an individual making minimum wage or less could manage to save and I’ll explain a few ways in this blog entry. You must understand that I personally am currently employed and earn less then the minimum wage, full time worker and am incurring debt due to the loss of scholarships now that I’m over my 120 credit hour limit for some of my scholarships. It’s been tough because I no longer can depend on grants because they won’t award me much except to cover books (which is awesome–don’t get me wrong). However, the rest of my aid is purely financial aid loans which have been slowly accumulating. I only make about 80 dollars a week which could conservatively add up to a little under $400.00 a month.

I’ve taken the following steps in trying to save on my purchases. I’ve enrolled into a program with Bank of America …”Keep the Change.” I tend to write checks or use my debit card so I mark down a number rounded up to the nearest dollar.

Recently I’ve been looking at possibly applying for Federal Aid in paying either for groceries or even utilities (Food Stamps/Insurance/Medicaid). You see, I’ve had to make decisions that have been tough but all for the sole purpose of continuing my education. I don’t bet on chances, I bet on sure things and I’ve managed so far this well. I still get nervous about how I’m going to manage through every semester, how I might not be able to live the life that some fortunate individuals have been able to live while in school. That doesn’t keep me down, that doesn’t stop me from achieving my dream or at least fighting for it!

Now, with the loans that I do have, I’ve managed to cover tuition and fees and also shelter costs but will have to depend on my earned income for food/beverages and also utility cost. If anyone has to live frugally and is trying their hardest to try and a save a buck, please don’t count me out of the bunch! I know that there are circumstances that are way way more difficult than the one I find myself in but I’m so glad with what God has given me.

He has given me a library with unlimited internet access, a place to escape from the real world every once in a while (moolah blog) and also with good friends like BudgetCents.net (Steve), Thenetfool.com (Jim), hedgeagainstspeculation.com(Richard), Frommike.com(Mike), DavidMackesCents.com(David), The Bill Manager (JM), Bob’s Stock Advice (Robert), and a few other souls that have kept me financially literate and have giving me ideas and ways of possibly getting through and doing away with the stress that tends to pile up with such a big obligation to myself! Not to mention some of them have gone to an extent in helping me earn a little bit of moolah online!

In any case, I find that the best way to save for me is to round up on my purchases at the grocery store, also, I tend to put away 10% of what I make into my Mutual Fund account (it is currently earning more on interest that my loans is taking away in interest). The rest of my Disposable Income I either use for things I need and/or use to try and make business. By business I mean, I tend to haggle through lots of deals in and around Austin and try to resell online for a few bucks more.

So, to sum it up, I go to school, work, eat and sleep. But at school I’m investing in my education plus using the internet to blog and make a few bucks haggling! At work, I’m earning/saving. And at Home I eat and sleep. Thats my life, and I consider myself fortunate because I know others don’t have it so simple.

Please ask me for any questions you might to ask of me, I would be happy to answer any of them!

One last important thing, I would like to thank Gather Little by Little, for introducing me to Freecycles! I hope I can get a free meal out of it! ;D Its an amazing place where you are connected to folks that are getting rid of things they don’t use anymore. I’m looking to get a couch and I might just get it since one was posted today!

Respectfully,

Tony Tovar

P.S. I think I might start a personal finance blog that reflects my finances and where I’m trying to get. In my case, I’m trying just to get to a Net of Zero from the negative (loans)!