I’ve written about driving for Lyft as a source of additional income. I am also starting to earn money for my writing!
To keep everything straight, I just opened a new checking account, with a debit card and everything. I am keeping all of my part-time or freelance earnings in that account. Instead of using this as immediate savings, I am using it to hold me accountable to my savings goals.
My goal is to deposit $250 into my savings account each week. I have gotten seriously behind on this because life happens! My adjusted strategy is to make these deposits diligently and use my side money to cover myself if I am running short between paychecks. This also keeps me from spending money that I don’t have with my credit card. I am thinking of this as my short term rainy day fund.
Have any of you done this with part-time job money? Do you have another unusual strategy for managing your income?