August can be a very daunting time for those of us in the Pilates world. In fact, summer in general can be a daunting time. Learning how to stretch your bank account is a great way to make your money last through those weeks when all your clients seem to vanish off on exciting vacations.
While a Pilates teacher can earn a substantial living, (with odd but flexible hours), it can be forgotten that when one is not working, there isn't necessarily a salary coming in each week. How does one stay afloat, especially in a city like New York.
The answer is planning ahead. Though I am quite laid back about many things, I am not laid back about financial matters. Before moving, I spent two years saving up for this exciting time in my life. Knowing that I would not be able to live off my savings for more than 10 months, I gave myself a deadline to be off transferring from my savings accounts to my checking. The best decision I made when I opened my own personal checking account (not attached to a parent) was taking only a third out of my main savings account to put in as checking. This checking account also serves as my "rent account". The income of two of my jobs currently goes into that account, and every once in a while I move a few hundred dollars into the attached savings account. Meanwhile my main savings account is frozen, I can only transfer money out of it in person, making it harder to spend that money. For spending money, I have a separate account that I have had since college. That account is for my student loans and every day expenses. While I am constantly stressed about numbers, the numbers in that additional(modest) savings account has not dwindled this whole summer.
Many people look at me like a lunatic when I tell them my money is in two different banks, but it has helped me keep my life somewhat together.
Maybe this will help other people, maybe it won't. But planning ahead is what helps me work just enough to cover my expenses while having the time to do the things that I love.