I recently started tutoring a 7yo boy, the grandson of a colleague of mine. He needs help with reading and spelling which is totally my area of speciality. I was asked completely out of the blue so this is truly extra money I haven't accounted or planned for.
As he's only 7, a whole hour is too much so I see him half an hour per week and leave him some fun tasks to practise each night. I charge £25 per hour (the average rate here for a primary school age tutor) so that will be an extra £50 a month during term time.
So I'm debating what to do with this extra money. I could just add it to my savings (it would be around £500 for the whole year) or use it to buy something specific. There's no contract or defined end so his parents could stop it at any time. It really is bonus money but I'd like to use it on 'something.'
What would you do with it? Save it, spend it on something like stocking up on storecupboard items? Spend it on a treat? A wee holiday? Craft materials to reopen my Etsy shop? Plants/seeds for the garden and allotment? The possibilities are endless!
When I did tuition, I tucked it aside and it went towards for holidays and spending money.
ReplyDeleteUsing it for a specific project of some kind would be fun. Enjoy! xx
Definitely going to keep it aside! xxx
DeleteI would pop it into a slush account/jar, which would help you at times when you need more cash, ie a big shop for your store cupboard or purchasing seeds, because all of your list sound worthy.
ReplyDeleteSince it's cash I'm thinking of a jar of some sort. It will be nice to actually see it mounting up! :-)
DeleteThat's a nice bit of extra cash! I think I would be tempted to put it into savings whilst keeping track of how much it is in total. Then, when it does come to an end, spend it on a treat - nice break away somewhere, upgrade to tv?
ReplyDeleteA break away would be nice. I'm not discounting it :-)
DeleteIf you can manage the items you mention within your normal budget, then spend this extra money on something else, something special, something you love; that way, if/when that wee income stream stops, you'll have something to look back on and smile, and still have the things you spent it on, or lovely memories. I would suggest books, hand-dyed sock wool (Mel has some lovely ones in her etsy shop :) ), flower seeds/bulbs, DVDs/CDs, a picture for your home, beautiful candles, nice underwear, fleece/rolags for spinning, an afternoon/day out once a month, craft materials. With my £50 I would ring-fence it, and any left over after buying something/spending would be put aside for future lovely things - will soon mount up - or donated to a charity of your choice. Life is too short not to have things you love if you can, and make memories. Just my thoughts :) x
ReplyDeleteDefinitely want to do something special with it. I've already had a look at Mel's gorgeous yarn but I'm using up my stash first before buying any new yarn!! And I agree life's too short! xxx
DeleteI would put it all to one side until you do decide properly what you would like to do with it. There's no rush to decide and perhaps if it does go on for quite a while you could then split it into different 'pots' of money to use for different things.
ReplyDeleteDefinitely going to put it aside and think about it while it mounts up. Maybe I'll wait until next year before deciding how to spend it :-)
DeleteI would keep it separate from your income and either save it or put it to something like your allotment for plants etc. Catriona
ReplyDeleteYes definitely going to keep it separate. Maybe spend it on something for the allotment next year :-)
DeleteLots of options there - I think I'd be saving it up then using it for a really nice treat.
ReplyDeleteAlison in Wales x
Lots of options and some fab ideas. I'll save it up first then decide :-)
DeleteSquirrel it away, great if you receive the payment as cash and can tuck it into a pot or somewhere you won't see it. When the tutoring ends you will know what you want to do, for now enjoy the 'comfort' of knowing a lovely bonus little sum is building up.
ReplyDeleteYes, I'm going to squirrel it away in a nice jar then use it one day when it's a goodly amount! :-)
DeleteI would put it away and use it for emergency spending or to buy craft supplies.... Probably in my case more the craft supplies.
ReplyDeleteGod bless.
Definitely going to put it away and then decide what to use it for when it's a decent amount :-)
Delete