School starts tomorrow and I'm proud to say financially I'm right on track with Tinyhouse and college; in fact I'm doing better than I planned. It's strange and exciting to see everything working out, it means I must have figured all the numbers correctly.
At the beginning of the summer I sat down and made a budget/plan on what I needed to do to pay down loans but still save enough money for the house. I ended up with a plan of paying $200 a month towards loans $400 a month in personal expenses(cell phone, gas, food) and then a lump sum of $1750 at the end of summer to pay for college myself without taking out any new loans. After all of this, I calculated I'd need(and have) about $2,200 left for the house when school started.
Well, now school is starting and I have nearly double that amount left over for the house. This is perfect because phase one of the house(framing and weatherproofing for winter) will cost $6,500. This means over the school year I only have to make $2,000 instead of $4,000. Then my pay during next summer can all go towards phase 2 of the house and once again making sure I can pay for school without any new loans.
I'm normally very private about my finances but I'm putting this all out there educational purposes. Plus, this blog is not only bout building a house, but trying to be debt free. I know when I was researching building a Tinyhouse(and really I still am) I was eager for any new information I could get and really, I didn't see much behind the finical planning side of things. So hopefully if someone finds this who is also curious about building a Tinyhouse, it will help them.
At the beginning of the summer I sat down and made a budget/plan on what I needed to do to pay down loans but still save enough money for the house. I ended up with a plan of paying $200 a month towards loans $400 a month in personal expenses(cell phone, gas, food) and then a lump sum of $1750 at the end of summer to pay for college myself without taking out any new loans. After all of this, I calculated I'd need(and have) about $2,200 left for the house when school started.
Well, now school is starting and I have nearly double that amount left over for the house. This is perfect because phase one of the house(framing and weatherproofing for winter) will cost $6,500. This means over the school year I only have to make $2,000 instead of $4,000. Then my pay during next summer can all go towards phase 2 of the house and once again making sure I can pay for school without any new loans.
I'm normally very private about my finances but I'm putting this all out there educational purposes. Plus, this blog is not only bout building a house, but trying to be debt free. I know when I was researching building a Tinyhouse(and really I still am) I was eager for any new information I could get and really, I didn't see much behind the finical planning side of things. So hopefully if someone finds this who is also curious about building a Tinyhouse, it will help them.