In August of this year, I’ve set a goal to save $6000 CAD for my next trip to Asia in June of 2017.

To sum it all up, with the little savings I already had for travel, I needed to save $570/month for the next 9 months. Since it’s the start of November, this leaves me only with 7 months.

 

Did I achieve my goal?

The end of October, I was able to save a mere $200 for travel. This is way below my target goal. There are a couple reasons for missing $370 for this month.

Firstly, this month I work a little under 10 hours. With the economy going through a downturn in my city, I haven’t been able to get full time hours. I’m currently on employment insurance but this is nowhere near how much I would be making if I was working full time. 

Secondly, there are other accounts that I am determine to add money in each month without fail. To achieve this goal, what I’ve learned from books and researching online is that it’s best to split up my paycheck by a certain percentage for each account. This allows me to save equally throughout my accounts no matter what the pay is for that month.

Very useful technique for months that you don’t make as much as you would and very rewarding when you make even more.

 

Revising my goals for next month

I decided to revise my goals for the next two months. I’ll still aiming for $6000 by the beginning of June but for the next two months, I decided be more realistic with my current situation and have a goal of $200 for November and December. I will review again in the beginning of January 2017 to my situation then.

There are things I believe I can cut out as I realized I spent a little extra on gas in October. I’ll be more aware of this situation in November to allow me to save an additional $100 or so for that month. As I said earlier, if I were to save an extra amount, it would be split between all accounts.

 

What else can I do?

I believe I am doing as much as I can with savings. Now it’s time to increase my income.

 

What am I currently doing?

I’m constantly checking the job markets inside my city and a little bit outside (around 4 to 5 hour drive). However, each new position I find in my field, there is an average of 300 to 500 applicants. I still do apply.

If the economy does pick up in my city, I would be the first to get a called back from my old company.

During the beginning stages of the downturn, the company I was working for laid me off a couple of times until they decided to switch me to an hourly position instead of a salary position.

This was because the projects they were getting at that time, only lasted about a month or two but that would be it. They didn’t want to keep laying me off and re-hiring me therefore we came into conclusion that I would be an hourly worker for time being and once it starts picking up, they would switch me back to a salary position.

I do go in every week to let them know that I am ready to work whenever there is work that needs to be done.

 

How about online?

This year in June, I have been constantly learning about online businesses especially with blogs.

I regularly visit Mark Wiens blog for information on how he made it happen. He is a food travel blogger (now also a youtuber) that had started his blogging career back in 2008. He is very open in sharing his ideas about how to get starting and of course, food!

I do hope to make some sort of income from this online but I realized that it does take a little bit of time, commitment, and learning to make it happen.

If you have any tips with either how to look for another job or tips about blogging, contact me or leave a comment below. I would love to listen. Whatever works for you! 

Published by Duy Dang