For those who are new readers, I will just give a quick history. I am a part-time work-at-home insurance nurse and I am in grad school to earn my masters in nursing education. We had planned on using tuition reimbursement to cover much of my degree, but when I was forced to leave my full-time position to manage our children’s needs, we had to make a decision: do I hold off grad school, take out loans, or figure out how to pay cash? We had just paid off my loans from degree #2 and we did not want to take out more loans. This graduate degree is #4, and we cash flowed and used tuition reimbursement for #3 while paying off the last of the loans for #2. Yes, it was a little crazy. We knew it would be tight if we opted to try paying cash, but we thought we could do it. That means we have to pay between $2800-3900 every three months between August 2015 and January 2017.
It’s the end of February, and I have already started my Research and Ethics classes. We’re about five weeks away from Grad School Payment Number Four. How are we doing?
I am pleased to say that despite only having a total of four work shifts in January, and what will end up being five and a half shifts in February, I have gotten by without needing money from my husband’s savings funds to cover the expenses I usually cover. Part of this is by cutting back our entertainment funds and part is from transferring from my little nest egg.
We are on track to pay for my Health Assessment and Pathophysiology classes in cash without depleting our savings, about $3900.
I was successful in getting reimbursed by work for part of my December internet, and I just got a lump sum for a year of business internet. The internet is already in our budget, so we will be putting this one aside to pay for the kids’ new play set.
We are going to continue to keep a lock-down on our entertainment budget for the next 6 months, since my income can fluctuate and we need to think about our Roth IRAs for 2016 on top of my grad school payments. I hope more work comes available as spring and summer roll around, just like last year. March is looking up with seven shifts booked already! I just applied for a scholarship, so here’s hoping I will get something from that department as well. Even a little bit would be appreciated.
Join the newsletter
Subscribe to get my latest content by email. As a thank you, I'll give you my grocery-saving tip sheet:
10 Steps To Save $100 or More Per Week.