Mid-Year Check In
It occured to me that I never reviewed the year 2019 or posted my financial goals for 2020 during my unannounced and rather lengthy blog hiatus. However, that doesn't mean I didn't set goals to achieve!
This blog post will serve as my 2020 resolution post. Better late than never, right?
I set the following goals for our family this year. Keep in mind, these were set in December - before COVID-19 was an everyday, household word.
1. Save money in our Stork Fund. This is in addition to our fully funded emergency fund.
Goal: Met. I used my job (VIPKID) to aggressively save money just to help offset any potential unforeseen issues with pregnancy or his birth. Pregnancy luckily had no complications, nor did labor and delivery. We pray baby's development is much the same.
2. Work every other Saturday night and aim to teach 130 class per month until maternity leave.
Goal: Not met. I stated before that these goals were set in December. January and February were excellent months. I taught 147 and 151 classes respectively. Then, the US gradually began shutting down due to COVID-19. The volume of people working from home dramatically increased. VIPKID released some statistics that while overall they had more students wanting classes, the number of available teachers in March/April/May 2020 compared to those months in 2019 was double. In March I taught only 98 classes, April I taught 80 and May I taught 90.
I used some time in the month of May to regroup and refocus to help increase bookings. I took workshops, added certifications and reached out to LPs (learning partners). All of these tactics seemed to work. My number of bookings increased. My number of followers on VIPKID grew by 30% as well. I'll be honest. I wish I would've had more bookings, but there are many teachers who took bigger hits to bookings than me. I am grateful for what I had.
I plan on returning to teach for VIPKID once I feel that I can successfully sneak in some classes while The JuJuBe and baby brother snooze (and while Mr. Pennies is home). However, the company has rolled out some less-than-desirable new rules that directly affect their veteran teachers. For past teachers, any time you taught a class on time, you received a $1 bonus. Then, if you taught more than 45 classes, you would also earn an additional $1 for each and every class taught that month. The new incentives are much, much lower and result in a pretty decent pay cut each month. Many of the veteran teachers are understandably unhappy - lower bookings and now lower pay. I don't plan to leave VIPKID but I am frustrated. I do feel that perhaps my maternity leave may be better served if I research more ways to earn money while working from home.
3. Cash flow additional classes for The JuJuBe.
Ah yes, another goal interrupted by the coronavirus. You can imagine that classes full of toddlers during this pandemic currently no longer exist. I am still saving the money for these classes in our sinking funds. I'll be honest. I'm not entirely comfortable in resuming these classes any time soon with a new baby in tow. We will just have to wait and see what the rest of 2020 holds before we make any decisions about our enrichment opportunities.
4. Keep and maintain an accurate tax account. Pay taxes quarterly.
This is an area where I failed last year. I did pay taxes, but not quarterly. I also didn't pay in nearly enough. I do expect a fairly large tax return next year with the birth of baby brother just around the corner but I still plan to pay in my quarterly taxes. I am saving 25% of each VIPKID paycheck and pay federal taxes on this. Because I live in the state of Tennessee, I do not have to pay state income tax.
So, how have your 2020 goals shifted? I know that we've all been thrown for a huge loop this year. It's okay to adjust your goals and resolutions to have them meet you where you are. I think the word for this year is flexibility. We could all use some grace and flexibility in our lives! So, take a breath and review what you wanted to focus on. It's okay to miss the mark and it's okay to start over! Thanks for stopping by!
Update: Baby brother arrived June 6, 2020. We are doing great! The JuJuBe is in love with her brother and we are gradually adjusting to life as a family of 4.
This blog post will serve as my 2020 resolution post. Better late than never, right?
I set the following goals for our family this year. Keep in mind, these were set in December - before COVID-19 was an everyday, household word.
1. Save money in our Stork Fund. This is in addition to our fully funded emergency fund.
Goal: Met. I used my job (VIPKID) to aggressively save money just to help offset any potential unforeseen issues with pregnancy or his birth. Pregnancy luckily had no complications, nor did labor and delivery. We pray baby's development is much the same.
2. Work every other Saturday night and aim to teach 130 class per month until maternity leave.
Goal: Not met. I stated before that these goals were set in December. January and February were excellent months. I taught 147 and 151 classes respectively. Then, the US gradually began shutting down due to COVID-19. The volume of people working from home dramatically increased. VIPKID released some statistics that while overall they had more students wanting classes, the number of available teachers in March/April/May 2020 compared to those months in 2019 was double. In March I taught only 98 classes, April I taught 80 and May I taught 90.
I used some time in the month of May to regroup and refocus to help increase bookings. I took workshops, added certifications and reached out to LPs (learning partners). All of these tactics seemed to work. My number of bookings increased. My number of followers on VIPKID grew by 30% as well. I'll be honest. I wish I would've had more bookings, but there are many teachers who took bigger hits to bookings than me. I am grateful for what I had.
I plan on returning to teach for VIPKID once I feel that I can successfully sneak in some classes while The JuJuBe and baby brother snooze (and while Mr. Pennies is home). However, the company has rolled out some less-than-desirable new rules that directly affect their veteran teachers. For past teachers, any time you taught a class on time, you received a $1 bonus. Then, if you taught more than 45 classes, you would also earn an additional $1 for each and every class taught that month. The new incentives are much, much lower and result in a pretty decent pay cut each month. Many of the veteran teachers are understandably unhappy - lower bookings and now lower pay. I don't plan to leave VIPKID but I am frustrated. I do feel that perhaps my maternity leave may be better served if I research more ways to earn money while working from home.
3. Cash flow additional classes for The JuJuBe.
Ah yes, another goal interrupted by the coronavirus. You can imagine that classes full of toddlers during this pandemic currently no longer exist. I am still saving the money for these classes in our sinking funds. I'll be honest. I'm not entirely comfortable in resuming these classes any time soon with a new baby in tow. We will just have to wait and see what the rest of 2020 holds before we make any decisions about our enrichment opportunities.
4. Keep and maintain an accurate tax account. Pay taxes quarterly.
This is an area where I failed last year. I did pay taxes, but not quarterly. I also didn't pay in nearly enough. I do expect a fairly large tax return next year with the birth of baby brother just around the corner but I still plan to pay in my quarterly taxes. I am saving 25% of each VIPKID paycheck and pay federal taxes on this. Because I live in the state of Tennessee, I do not have to pay state income tax.
So, how have your 2020 goals shifted? I know that we've all been thrown for a huge loop this year. It's okay to adjust your goals and resolutions to have them meet you where you are. I think the word for this year is flexibility. We could all use some grace and flexibility in our lives! So, take a breath and review what you wanted to focus on. It's okay to miss the mark and it's okay to start over! Thanks for stopping by!
Update: Baby brother arrived June 6, 2020. We are doing great! The JuJuBe is in love with her brother and we are gradually adjusting to life as a family of 4.
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