I do love paydays. I love spending the first forty five minutes of my morning reworking my budget to reflect my actual pay and I love paying bills and balancing my checkbook :-).
My paycheck was $121 more than I had expected :-). I added a little money to my household spending a little because there are some things I need to buy that I have been putting off. The rest went right into my savings account. What a good day it is!
Showing posts with label Savings. Show all posts
Showing posts with label Savings. Show all posts
Friday, August 12, 2011
Wednesday, August 10, 2011
My Debt Free Plan is Taking Shape
I spent a good part of last night working on my plan to pay off my debt. With my raise and the BF going back to work it's time I got serious and began to attack this. Because my student loans are below six percent interest I am leaving them be for right now.
Taking a page from Dave Ramsey I have already started to put money into an E-fund. I am going to snowflake every last penny into that E-fund until it reaches $1000 which should be in just over three months.
I am more interested in saving the most money possible in interest so instead of using Dave's traditional debt snowball I am going to modify it. Once my E-fund is complete I am going to throw everything I've got at my Capital One credit card which is charging me almost 18 percent interest. If I can get that up to about $250 a month I should have it paid off about two years after I start attacking it. Then I'll move on to the next and the next. I haven't sat down and did the math yet but I'm looking at somewhere between three to four years to have them all paid off I think.
Plan starts Friday, here I go!
Taking a page from Dave Ramsey I have already started to put money into an E-fund. I am going to snowflake every last penny into that E-fund until it reaches $1000 which should be in just over three months.
I am more interested in saving the most money possible in interest so instead of using Dave's traditional debt snowball I am going to modify it. Once my E-fund is complete I am going to throw everything I've got at my Capital One credit card which is charging me almost 18 percent interest. If I can get that up to about $250 a month I should have it paid off about two years after I start attacking it. Then I'll move on to the next and the next. I haven't sat down and did the math yet but I'm looking at somewhere between three to four years to have them all paid off I think.
Plan starts Friday, here I go!
Thursday, August 4, 2011
I'm Going to Need a New Car Soon
When I started to focus on my debt at the beginning of the year all my friends thought I was crazy. I suddenly stopped going out with them and suggested having stay in nights instead of going out nights. This was completely backwards from their way of thinking which was still stuck in the college mode. Needless to say that I really don't see them much anymore, which I am okay with.
I did see one of my friends last night and I was shocked to find that he was driving a brand new 2011 Jeep Grand Cherokee which has a starting MSRP north of 30 grand (he really isn't the brightest bulb in the box so I would put good money on the fact that he paid almost full price for it). I honestly couldn't believe it. While we were hanging out he was complaining how hard it was to make all of his bills and how he was working a full time job as well as two part time jobs. I really had no sympathy for him because he didn't need the new Jeep. He was driving a 2008 Honda Civic that was in really good condition but he just bought the Jeep because he felt he deserved it. What kind of thinking is that?! You deserved it? I was so mad at him for it. That being said I offered to help him work out a budget to somehow make it all work for him, so we are doing that later this week.
The moral of this story is this, I know that I will need a new car soon. The one I am driving now is coming up on being fifteen years old and while it still drives pretty good I have had to sink almost seven grand (thank you mom and dad for fronting most of that money and then forgiving the debt as my birthday and Christmas gift last year) into it over the last few years. I've decided that once the next major thing breaks (which I think will be the transmission) I am going to have it towed back to my parents house because they want it back and I am going to by a new (used but new to me) car. I will most likely buy a Jeep Grand Cherokee or something similar to that because even though they are expensive and eat a lot of gas, commuting to and from my job in the winter is going to be rough and I feel safer in a bigger car.
I spent most the wee hours of the morning looking at prices for new (used) cars and I realized that while I want one really really bad I'm better off waiting another year or so before I attempt to purchase one (that is if my current car agrees). There's no way I could swing a loan right now. That fact depressed me but also inspired me to continue to pay off my credit cards and to save save save.
I did see one of my friends last night and I was shocked to find that he was driving a brand new 2011 Jeep Grand Cherokee which has a starting MSRP north of 30 grand (he really isn't the brightest bulb in the box so I would put good money on the fact that he paid almost full price for it). I honestly couldn't believe it. While we were hanging out he was complaining how hard it was to make all of his bills and how he was working a full time job as well as two part time jobs. I really had no sympathy for him because he didn't need the new Jeep. He was driving a 2008 Honda Civic that was in really good condition but he just bought the Jeep because he felt he deserved it. What kind of thinking is that?! You deserved it? I was so mad at him for it. That being said I offered to help him work out a budget to somehow make it all work for him, so we are doing that later this week.
The moral of this story is this, I know that I will need a new car soon. The one I am driving now is coming up on being fifteen years old and while it still drives pretty good I have had to sink almost seven grand (thank you mom and dad for fronting most of that money and then forgiving the debt as my birthday and Christmas gift last year) into it over the last few years. I've decided that once the next major thing breaks (which I think will be the transmission) I am going to have it towed back to my parents house because they want it back and I am going to by a new (used but new to me) car. I will most likely buy a Jeep Grand Cherokee or something similar to that because even though they are expensive and eat a lot of gas, commuting to and from my job in the winter is going to be rough and I feel safer in a bigger car.
I spent most the wee hours of the morning looking at prices for new (used) cars and I realized that while I want one really really bad I'm better off waiting another year or so before I attempt to purchase one (that is if my current car agrees). There's no way I could swing a loan right now. That fact depressed me but also inspired me to continue to pay off my credit cards and to save save save.
Tuesday, August 2, 2011
It's Only August 2nd and I love This Month Already
My BF got an email from his manager yesterday telling him to report to work on August 22!!! In a little over twenty days we will once again have a second income!!!!!!! My share of the rent will decrease as will my share of the food budget and almost every other area!!! Words can not describe how excited I am to start having a second paycheck coming in. With him paying all his own bills again and contributing to the various budget amounts I can finally kick my E-savings into overdrive!!! It is a good day today!
Sunday, July 31, 2011
End of July Round Up: Net worth = $-51,716.20
My net worth as of today stands at $-51,716.20 which is a change of $806.33. At least it is going up right?
Complete debt breakdown is as follows:
I did some good saving this month thanks in part to the good overtime I had so yay!
Goals for this week are as follows:
Complete debt breakdown is as follows:
- Capital One: $4,851.48
- Bank of America 1: $2,977.79
- Bank of America 2: $1743.93 (need to watch this one because of fraud)
- Citi Cards: $3830.08
- Student Loan 1: Somewhere in the area of $2,600 I need to call to confirm
- Student Loan 2: $21,797.00
- Student Loan 3: $17,252.62
I did some good saving this month thanks in part to the good overtime I had so yay!
Goals for this week are as follows:
- Open a new checking account for the BF (I failed at this last week because I overslept)
- Tuesday, Wednesday, and Thursday will be no spend days again.
- Reduce how much driving I do, I want to end this week with at least a quarter of a tank of gas.
Thursday, July 28, 2011
Oh Hey Thursday!
Wow, it's already Thursday and that means the end of another pay period! I get paid tomorrow so everything extra in my accounts will be transferred to my savings at the end of today. My no spend days were a complete success this week. I haven't spent a dime since I got back from my future in-laws on Saturday. My car still has just over a half a tank of gas in it which means that I can most likely shave a few dollars off my gas budget for the upcoming paycheck and that makes me happy. Never mind I forgot I picked up a catering job this weekend and have to drive an extra twenty miles.
July is almost over and I have to say that it has been a really good month. Everyone at work has been taking vacations this month except me (because I am still new and my vacation doesn't kick in until next April and I like to take my vacations in the winter) so I have been lucky enough to have about eight hours of overtime every week this month on top of the holiday that was this month so I've been making some pretty good money.
I'll admit that instead of using the money to beef up my E-Savings I used most of it to add some extra food to my pantry. With the BF out of work until mid to late August we have been living off pasta and canned items for most of the summer so it was nice to have some extra food to enjoy.
And last but not least, I will be sitting down with my manager in a few days for my three month review. When I was hired I managed to negotiate a dollar pay raise after three months based off a good review and my manager told me I had nothing to worry about we just had to have the sit down and I needed to sign the paperwork. This should happen either tomorrow or early next week. Oh and it gets even better. For staff Christmas gifts the management puts forth three or four ideas in July for us to vote on and whatever gets the most votes is what the will get us for Christmas. Well, this year the staff voted for a four to six percent "cost of living" pay increase and the management team agreed. This will go into effect January 1. Something to look forward to :-)
Hope everyone has a good Thursday!!!!!
July is almost over and I have to say that it has been a really good month. Everyone at work has been taking vacations this month except me (because I am still new and my vacation doesn't kick in until next April and I like to take my vacations in the winter) so I have been lucky enough to have about eight hours of overtime every week this month on top of the holiday that was this month so I've been making some pretty good money.
I'll admit that instead of using the money to beef up my E-Savings I used most of it to add some extra food to my pantry. With the BF out of work until mid to late August we have been living off pasta and canned items for most of the summer so it was nice to have some extra food to enjoy.
And last but not least, I will be sitting down with my manager in a few days for my three month review. When I was hired I managed to negotiate a dollar pay raise after three months based off a good review and my manager told me I had nothing to worry about we just had to have the sit down and I needed to sign the paperwork. This should happen either tomorrow or early next week. Oh and it gets even better. For staff Christmas gifts the management puts forth three or four ideas in July for us to vote on and whatever gets the most votes is what the will get us for Christmas. Well, this year the staff voted for a four to six percent "cost of living" pay increase and the management team agreed. This will go into effect January 1. Something to look forward to :-)
Hope everyone has a good Thursday!!!!!
Tuesday, July 26, 2011
Coffee, My Weak Spot
I love coffee.
Absolutely love it.
There was a time, when I was in college, that I would drink four or more medium coffees from Dunkin Donuts in a day. When I sat down last December and did my very first budget for January I was shocked to learn that I was spending almost $90 dollars a week on my coffee habit. Of course, I didn't have that much extra spending cash so I was using my credit cards to pay for most of it. I couldn't believe it.
The very next day I went out and bought a small coffee maker and a can of coffee for my house. The first few months were rough as I was still drinking a large amount of coffee however, after slowly reducing how much I drank I am down to two cups every morning and that is it. Instead of spending almost $90.00 dollars a week on coffee that I had to finance with credit I am spending just about $6.00 every two weeks that I am paying for in cash.
It is the little things that make me happy I guess.
On another note, no spend Monday was a success. If I can make it through the next two days without spending anything, and can manage to keep my driving to a minimum, I'll have an extra ten dollars come payday to add to my emergency fund.
-23DID
Absolutely love it.
There was a time, when I was in college, that I would drink four or more medium coffees from Dunkin Donuts in a day. When I sat down last December and did my very first budget for January I was shocked to learn that I was spending almost $90 dollars a week on my coffee habit. Of course, I didn't have that much extra spending cash so I was using my credit cards to pay for most of it. I couldn't believe it.
The very next day I went out and bought a small coffee maker and a can of coffee for my house. The first few months were rough as I was still drinking a large amount of coffee however, after slowly reducing how much I drank I am down to two cups every morning and that is it. Instead of spending almost $90.00 dollars a week on coffee that I had to finance with credit I am spending just about $6.00 every two weeks that I am paying for in cash.
It is the little things that make me happy I guess.
On another note, no spend Monday was a success. If I can make it through the next two days without spending anything, and can manage to keep my driving to a minimum, I'll have an extra ten dollars come payday to add to my emergency fund.
-23DID
Sunday, July 24, 2011
June Financial Roundup Networth = $-52,522.53
Once a month I am going to post a financial roundup for everyone to see. It will include a breakdown of my net worth as well as some notes on my budget for next month. This will hopefully keep my on track and allow my net worth to continue to increase instead of decreasing evening further.
As you can see I am carrying an extremely high amount of student loan and credit card debt. I am hoping to see a good change at then of July because I had some good overtime at work plus the holiday this month. I am considering finding a second job in order to dramatically increase my net worth but I am still on the fence.
As you can see I am carrying an extremely high amount of student loan and credit card debt. I am hoping to see a good change at then of July because I had some good overtime at work plus the holiday this month. I am considering finding a second job in order to dramatically increase my net worth but I am still on the fence.
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