Rich in Spirits

December 2011 Totals

2011-12-28T18:57:00.000-08:00

405 - Credit cards
5548 - Car
0 - Student loans

5953 - Total Debt

1477 - Stocks/Emergency Fund
48414 - 401K
2604 - Roth IRA

52495 - Total Savings

Net worth - 46,542

Wow, I haven't updated this in a while. But I have been plodding along, and too busy for most of the end of this year, when my side crafts business takes off. It's paid off! Now I've finally gotten my credit card down to a level where it can always be paid off with my next paycheck, and have my manageable car payment as my only other debt, though I'd like to pay that off sooner than scheduled, to save on interest.

I sold some of my emergency fund stocks to fund, in part, a loan of $1,500 to a relative that I don't expect to be repaid anytime soon. Sometimes we must do such things. I'm building that back up and hoping to also rebuild my straight-up cash reserves. Getting several dollars a month in dividends, which is small but feels exciting. I need to get better at making my money work for me. It is, though: in spite of the market fluctuations, my Roth IRA is at $2604 after my contributions of $2300. Hopefully there will be a lot more growth in the next 30 years!

I was able to make Christmas a little more thriftily grand by giving $150 in gift cards that I got for free from points from using my Southwest Chase card. I got a free tank of gas by donating blood, and a book of coupons to local restaurants. I got an insane amount of new clothes yesterday -- 4 pairs of jeans, a dress, 5 sweaters, several t-shirts and casual shirts, lots of socks and boxers for my boyfriend -- for $160 at the post-holiday sales. A moderate splurge. The jeans are from a store that I consider very reliable; I don't plan to wear them all right now, but the ones I am wearing now will wear out someday.

I'm feeling good. Here's to a prosperous 2012 for all!

August 2011 Totals

2011-08-18T20:45:00.000-07:00

1861 - Credit cards
6114 - Car
0 - Student loans

7975 - Total Debt

1526 - Stocks/Emergency Fund
42829 - 401K
2361 - Roth IRA

46716 - Total Savings

Net worth - 38,741

Wow, where has the summer gone? I thought I had missed a month, but not two! Well, like many, I don't have too much to report. Still haven't chipped away at the credit card satisfactorily, even after selling a bunch of my company stock a couple of months ago. I traveled a bit this summer, but not in a major way. Flew to the family house in Florida, took a road trip through New England, crashing with family and friends, planning one last hurrah at a B&B in a town not too far from here. No things like A Trip To Japan. But they add up. And the performance of, well, just about everything isn't buoying my spirits....

Goals: Pay off credit card, pay off car, continue to invest in stocks that pay me dividends every month, continue putting same amount into 401K and Roth IRA (buy low, sell high!), try to avoid shopping and trips, continue to participate in research studies and surveys to make extra cash, save up to buy a house and build a better EF.

That's a lot, but I can do it.

May 2011 Totals

2011-05-21T09:10:00.000-07:00

2384 - Credit cards
6373 - Car
0 - Student loans

8757 - Total Debt

2742 - Stocks/Emergency Fund
45389 - 401K
2520 - Roth IRA

50651 - Total Savings

Net worth - 41,894

CSA, for which I have already paid, is providing most of the food I'm eating right now. No big trips planned except for a trip to Europe for my job, which should give me my fill of airports for a while. Getting there!

April 2011 Totals

2011-04-25T15:55:00.000-07:00

2665 - Credit cards
6515 - Car
0 - Student loans

9180 - Total Debt

2668 - Stocks/Emergency Fund
44496 - 401K
2493 - Roth IRA

49657 - Total Savings

Net Worth - 40477

When I started this blog, I had $50K in debt, and now I have nearly that much in the bank! Feels good. Need to get a handle on my debt though. I have been saying this every month.

March 2011 Totals

2011-03-27T12:27:00.000-07:00

2536 - Credit cards
6656 - Car
0 - Student loans

9192 - Total Debt

2431 - Stocks/Emergency Fund
43168 - 401K
2389 - Roth IRA

47988 - Total Savings

Net Worth - 38796

Just did my taxes and got a $3 refund. That's pretty much hitting the nail on the head as far as making sure my withholding, etc is in line. Not getting a refund when you see others getting them is not fun, but having my money work for me all year instead of having the government holding on to it is fun!

February 2011 Totals

2011-03-03T18:39:00.000-08:00

3962 - Credit cards
6836 - Car
0 - Student loans

10798 - Total Debt

2416 - Stocks/Emergency Fund
42335 - 401K
2370 - Roth IRA

47121 - Total Savings

Net Worth - 36323

Same as last month. Been failing at debt management, tho I've got lots of money in the bank. Not planning a big trip out of the country for the first time since 2008. Let's see if I can't get this under control.

January 2011 Totals

2011-01-31T21:13:00.000-08:00

3741 - Credit cards
7011 - Car
0 - Student loans

10752 - Total Debt

2205 - Stocks/Emergency Fund
40524 - 401K
2233 - Roth IRA

44962 - Total Savings

Net Worth - 34210

Get rid of the debt! I have seemed to fail at this, though my investments grow.

December 2010 Totals

2010-12-24T06:16:00.000-08:00

2432 - Credit cards
7250 - Car
0 - Student loans

9682 - Total Debt

1993 - Stocks/Emergency Fund
38752 - 401K
2140 - Roth IRA

42885 - Total Savings

Net Worth: 33203

I am pleased with this ending to the year. Investments are progressing on track, debt still exists but in a manageable way.

Goals for 2011 are: continue debt eradication, aggressively build cash reserves, continue to figure out how to make my money work for me (e.g. stocks that pay monthly dividends - I'm at about $5-6 a month but that can improve!

November 2010 Totals

2010-11-21T04:39:00.000-08:00

3342 - Credit cards
7392 - Car
0 - Student loans

10734 - Total Debt

1886 - Stocks/Emergency Fund
36362 - 401K
1963 - Roth IRA

40211 - Total Savings

Net Worth: 29477

October 2010 Totals

2010-10-23T14:53:00.000-07:00

3568 - Credit cards
7533 - Car
0 - Student loans

11101 - Total Debt

1817 - Stocks/Emergency Fund
35090 - 401K
1920 - Roth IRA

38827 - Total Savings

Net Worth: 27726

Trying to keep living on the straight and narrow path.

September 2010 Totals

2010-10-06T17:17:00.000-07:00

4240 - Credit cards
7674 - Car
0 - Student loans

11914 - Total Debt

1751 - Stocks/Emergency Fund
33262 - 401K
1809 - Roth IRA

36822 - Total Savings

Net Worth: 24908

Getting there, little by little. The big news here is that somehow I missed my 401K becoming vested, something I didn't think would happen until 2012. This is very exciting!

August 2010 Totals

2010-08-27T19:51:00.000-07:00

4528 - Credit cards
7954 - Car
0 - Student loans

12482 - Total Debt

1675 - Stocks/Emergency Fund
29409 - 401K
1626 - Roth IRA

32710 - Total Savings

Net Worth: 20228

Dear Economy,

Kindly get that dirt off your shoulder? Thanx XXXOOO!

July 2010 Totals

2010-07-27T18:34:00.000-07:00

4831 - Credit cards
8816 - Car
0 - Student loans

13647 - Total Debt

1637 - Stocks/Emergency Fund
30209 - 401K
1644 - Roth IRA

33490 - Total Savings

Net Worth: 19843

I know. I am bad.

June 2010 Totals

2010-06-21T13:55:00.000-07:00

3847 - Credit cards
8959 - Car
0 - Student loans

12806 - Total Debt

1584 - Stocks/Emergency Fund
29207 - 401K
1585 - Roth IRA

32376 - Total Savings

Net Worth: 19570

Just got back from a wondrous trip to the Pacific Northwest for a business development conference and to visit a relative I never, ever see. Not financially wise, but soul-nourishing.

May 2010 Totals

2010-05-22T08:02:00.000-07:00

2936 - Credit cards
9119 - Car
0 - Student loans

12055 - Total Debt

1531 - Stocks/Emergency Fund
27560 - 401K
1485 - Roth IRA

30576 - Total Savings

Net Worth: 18521

Wow, my investments are plummeting and my debt isn't budging! Time to tighten the belt!!

April 2010 Totals

2010-04-24T08:17:00.000-07:00

3129 - Credit cards
9279 - Car
0 - Student loans

12408 - Total Debt

1519 - Stocks/Emergency Fund
30048 - 401K
1608 - Roth IRA

33175 - Total Savings

Net Worth: 20767

Whoooooaaaaa all that Japan stuff (hotels, bullet trains, shopping for mega craft supplies at amazzzing prices) hit my CC at once and it's a bad scene at the moment! I don't care, it was so worth it and will be handled soon! And I am right on track for getting another free flight on Southwest soon thanks to that activity. So something good's coming out of that. I will then have two free tickets on Southwest with enough FF miles on Delta to go somewhere awesome, as well. Seeing as much of the world as possible has sort of risen in priority, not that it was ever low, just in realizing that I need to do it while I am young and spry, and free of children/home ownership/other such obligations.

I feel quite prosperous at the moment in spite of any debts.

March 2010 Totals - Easy Come, Easy Go

2010-03-28T16:19:00.000-07:00

435 - Credit cards
9439 - Car
0 - Student loans

9874 - Total Debt

1310 - Stocks/Emergency Fund
28099 - 401K
1482 - Roth IRA

30891 - Total Savings

Net Worth: 21017

Wow! The universe sure works in interesting ways! I enjoyed being debt-free for a few weeks before a drunk driver crashed into my car, parked on the street in front of my house, while I was sleeping. The car was considered totaled. I bought it new 5.5 years ago and had hoped to have it for 5 more years. I got a decent price for my car (which was not in perfect condition). I bought a brand-new car and haggled for a few hours to get it to the price I wanted.

It was a sad and stressful experience to make such a major purchase with no desire and hardly any time to do so. I could have maintained my debt-free status by trying to buy an equivalent car to the one that I lost, but I was very nervous about buying a used car since I couldn't guess how the previous owner had taken care of it. My new car gets 35 mpg and I hope to hold on to it for 10 more years (here's hoping!!) so hopefully the financial impact won't be too great.

Torn between wondering whether I should quickly pay off the car debt, or continue to amass savings. The monthly payment is very low and the interest is pretty low. I hate being in debt again. But I need to amass more ready cash. We'll see.

By the way, I am not diving into stocks in any haphazard way - I bought some company stock at a 15% discount. We have only one opportunity per year to do this, and I devoted a chunk of money to that. I cannot sell it immediately, but I can in one year.

February 2010 Totals - I Did It!

2010-02-27T04:14:00.000-08:00

232 - Credit cards
0 - Car
0 - Student loans

232 - Total Debt

210 - Emergency Fund
25890 - 401K
1356 - Roth IRA

27456 - Total Savings

Net Worth: 27224

I did it! I became debt-free! Yes, at the moment my credit card has a small balance which will be paid shortly. I intend to continue to use my credit card for all purchases so I earn free flights and can see more of the world. At any given time I might be carrying a balance of a few hundred dollars.

From now on my goals will change a little! I am still refining them. I want to continue to invest in my 401K and Roth IRA and amass a much more generous Emergency Fund. I am also curious about how to optimize my investments to be able to generate income for me each month, too. I have recently been exploring stocks that pay monthly dividends. CDs are another likely option for a portion of my Emergency Fund (though they earn such small amounts these days).

But first, I will do something completely un-frugal and enjoy my trip to Japan in April! And enjoy the feeling of being indebted to no one. At least until I buy a house :-)

January 2010 Totals

2010-01-29T17:04:00.000-08:00

1654 - Credit cards
0 - Car
782 - Student loans

2436 - Total Debt

164 - Emergency Fund
24969 - 401K
1300 - Roth IRA

26433 - Total Savings

Net Worth: 23997

Getting there! Process severely delayed by the fact that I bought Two Tickets To Paradise, aka Japan, for April, but I needed to buy them before the prices went up, and use our vouchers from last year which were nearing expiration.

Barring any unexpected issues, and considering some small ins from crafting, I really should be able to achieve this by the end of February. So close!

Had some luck selling books on half.com lately - they pay quickly! Nice! Working hard....

December 2009 Totals

2009-12-19T10:56:00.000-08:00

876 - Credit cards
0 - Car
2944 - Student loans

3820 - Total Debt

154 - Emergency Fund
24002 - 401K
1255 - Roth IRA

25411 - Total Savings

Net Worth: 21591

Wow, so close!

Since January is a three-paycheck month, I think it just might be The Month I Become Debt Free. Card balance is high with holiday shopping; I have some money from craft sales coming in next month that will help chip away at that, though.

I have been keeping my EF in stocks that pay dividends monthly. They are gaining value and I have been getting small payments each month! I have also elected to receive a portion of my bonus (should there be one) next year in company stock. We buy it at a 15% discount, so that will be an instant 15% ROI (though I can't sell it for one year). It has also been paying nice (annual) dividends, so that is another source of income, however small. As I become debt-free, I will shift my focus on learning how to make the money I have work for me!

November 2009 Totals

2009-11-18T07:43:00.000-08:00

322 - Credit cards
0 - Car
5090 - Student loans

5412 - Total Debt

206 - Emergency Fund
23095 - 401K
1190 - Roth IRA

24491 - Total Savings

Net Worth: 19079

Did not make as much progress paying loans down this month. However, it is the holiday season, and I am hoping to make some extra money with crafts. In the last week I shipped goods to 3 places, and will see the income from sold goods in December/January, and I sold some goods to a store with immediate payment. Two live shows will also take place in the next 3 weeks. Home stretch!

October 2009 Totals

2009-10-24T08:24:00.000-07:00

672 - Credit cards
0 - Car
5720 - Student loans

6392 - Total Debt

110 - Emergency Fund
22183 - 401K
1135 - Roth IRA

23428 - Total Savings

Net Worth: 17036

Credit card is up since I bought a lot of craft supplies that I will use to make goods to sell during this holiday season, generating some more cash!! I am so close to meeting my goals!

I would LOVE to become debt-free in 2009. It is within my grasp, but would require very large amounts of discipline and self-denial. We will see. At the same time, I do not feel terrible about not meeting my goals by the end of this year as part of that is due to the fact that I am simultaneously building my savings (not wanting to miss out on employer match on the 401K). Look at my net worth grow! Wahoo!

My Strategy - Update

2009-10-03T14:59:00.000-07:00

A comment that I just received made me realize that I haven't talked a lot about my strategy lately. So here are a few notes:

I charge everything on my Southwest credit card to get free flights. I am just about to earn my fourth. So I try to operate debt-free in this way though I may at any time have a balance of a few hundred dollars that I plan to pay off with my next paycheck.

I am also putting into my 401K the minimum amount I need to do to get the company match. This is key! I also started a Roth IRA which I put $50 a month into. Just for some diversity.

I am thinking about starting to invest in stocks, but I need to do some research first.

I then apply any extra money that I have left over each month to paying off my student loans. This is happening a lot more slowly than I wanted it to, and it's bumming me out. I have been more of a social butterfly this year than I have been in the past, and all that going out and traveling adds up! At the same time, I don't want to deny myself. At the very least, I am paying a little more than the minimum that I owe every month. Though my main goal with any windfall would be to apply it to eradicating these as quickly as possible!

Longer term goals once that's handled are to save enough money for a down payment on a house, and to be able to buy my next car with cash (my car is 5 years old so it won't be for some years yet).

It was noted that my emergency fund is also very low. This is true. I have gotten a bit lazy about keeping it up as I live very frugally in a very low cost of living area and my next paycheck is always good for a month of expenses. But I know this is pretty reckless, so I will work on building it up a little more for now.

I am constantly trying to find out how to make more money. Luckily, I live in an area with many universities, and I just looked on Craigslist and found two research studies that I can sign up for.

I also just signed up for Pinecone Research and am waiting to hear back on whether I will be able to complete surveys for money through that site.

I just looked and saw that it's possible to sell your hair on thehairtrader.com. I didn't realize this! I could maybe be a good candidate for this. I do have beautiful hair, though I don't think it would look very pretty growing and growing until I had a good 12 inches or so to cut off.

Any more ideas for drumming up some extra cash?

September 2009 Totals

2009-09-12T05:37:00.001-07:00

372 - Credit cards
0 - Car
7601 - Student loans

7873 - Total Debt

10 - Emergency Fund
21110 - 401K
1063 - Roth IRA

22173 - Total Savings

Net Worth: 14300

August 2009 Totals

2009-08-23T18:05:00.000-07:00

457 - Credit cards
0 - Car
7791 - Student loans

8248 - Total Debt

10 - Emergency Fund
19280 - 401K
969 - Roth IRA

20259 - Total Savings

Net Worth: 12011

Plodding along, looking for small opportunities to generate income and trying to be frugal. Eating the many tomatoes from friends' gardens helps!

Trying to sell as many crafts as possible too.

July 2009 Totals

2009-07-26T14:15:00.000-07:00

579 - Credit cards
0 - Car
8919 - Student loans

9498 - Total Debt

55 - Emergency Fund
17667 - 401K
884 - Roth IRA

18606 - Total Savings

Net Worth: 9108

Bleak times over here. I seem to have forgotten how to deny myself pleasure. Must relocate discipline, STAT.

June 2009 Totals

2009-06-27T06:39:00.001-07:00

329 - Credit cards
0 - Car
9025 - Student loans

9354 - Total Debt

10 - Emergency Fund
15861 - 401K
781 - Roth IRA

16652 - Total Savings

Net Worth: 7298

I am in the home stretch, but it is getting so hard because I refuse to deny myself fun.

Still being frugal - basically never eating out unless a social interaction calls for it (e.g. it's part of seeing a group of friends that I want to see; my house isn't really fit for entertaining), barely shopping for groceries outside of my paid-for CSA share, taking lunch to work every single day. All of these things seem to revolve around food! But that really is a huge expenditure for many people.

May 09 Totals

2009-06-03T16:24:00.000-07:00

629 - Credit cards
0 - Car
9942 - Student loans

10570 - Total Debt

10 - Emergency Fund
15599 - 401K
718 - Roth IRA

16317 - Total Savings

Net Worth: 5747

So, I'm still a little in the hole thanks to the Italy trip, but I am not worried about that! It's not unrecoverable, and July is a three-paycheck month. The trip was wonderful, and I am super glad that we went in May as we did, while things were touristy but not CRAZY! TOURISTY!

Oh, but it all felt worth it when we got bumped from our flight on the way there. For leaving just 4 hours later, we each got $500 in future travel, plus $12 for food in the airport. We got to Rome at 12:00 p.m. instead of 7:30 a.m. Hardly a hardship! I have been wanting to get bumped for so long!

April 09 Totals

2009-04-29T18:51:00.000-07:00

370 - Credit cards
0 - Car
10085 - Student loans

10455 - Total Debt

10 - Emergency Fund
13325 - 401K
616 - Roth IRA

13951 - Total Savings

Net Worth: 3496

Plodding along, plodding along. Still moving in the right direction, if slowly. Still on target for September completion of goals, I think!

March 09 Totals

2009-03-12T18:15:00.000-07:00

152 - Credit cards
0 - Car
11213 - Student loans

11365 - Total Debt

10 - Emergency Fund
13151 - 401K
569 - Roth IRA

13730 - Total Savings

Net Worth: 2365

I have finally achieved a positive net worth!!!

February 09 Totals

2009-02-21T08:37:00.000-08:00

226 - Credit cards
0 - Car
13418 - Student loans

13644 - Total Debt

787 - Emergency Fund
9978 - 401K
440 - Roth IRA

11205 - Total Savings

Net Worth: -2439

I keep putting money into my 401K, and it just keeps plummeting and plummeting.

I did get back a sizable sum of money that I had loaned to a family member - with interest - so it did get me ahead on the credit card and EF front.

ETA for student loan payment is now Sept 2009. Taking a trip to Italy in the spring. Not helping me get there any faster - but going in May instead of June, July or August means that I am getting a wonderful deal!

January 09 Totals

2009-01-04T15:18:00.000-08:00

1326 - Credit cards
0 - Car
14431 - Student loans

15757 - Total Debt

19 - Emergency Fund
10604 - 401K
413 - Roth IRA

11036 - Total Savings

Net Worth: -4721

December 08 Totals

2008-12-29T16:23:00.000-08:00

1226 - Credit cards
0 - Car
15241 - Student loans

16467 - Total Debt

19 - Emergency Fund
10050 - 401K
375 - Roth IRA

10444 - Total Savings

Net Worth: -6023

Oh GOD my credit card just got out of hand in the last week or two, hastily doing some Xmas shopping, taking visiting relatives out to eat, blah blah, the holidays. I don't believe too hard in New Year's resolutions - I feel like you should strive to fix what needs to be fixed at whatever time of the year it is - but I need to reel in the spending!

My pal G's recent mention of selling a few used books online reminds me to list a few things on half.com to bring in a few bucks.

Considering that my car is worth about $6500 right now, I think I reached my goal of achieving a positive net worth this year, though it feels like cheating to say so. Having credit card debt at all makes me feel so scummy anymore.

Still moving in the right direction tho, if sloppily...

Here's to BECOMING DEBT-FREE IN 2009! Sooner rather than later. I doubt I'll hit my goal of getting there by March (unless I find a few grand on the sidewalk or something) but let's shoot for June. In my heart, I know that will also be a stretch too, but I work best under pressure!

November 08 Totals

2008-11-26T07:29:00.000-08:00

354 - Credit cards
0 - Car
17432 - Student loans

17786 - Total Debt

44 - Emergency Fund
9159 - 401K
314 - Roth IRA

9517 - Total Savings

Net Worth: -8269

The value of my investments continues to plummet! Technically, I don't need to worry about that as much at age 28 as someone older. It does mean, though, that I will probably not achieve a positive net worth this year as I had expected! But, in this economy, keeping both my debt and my savings moving in the right direction is what I need to focus on.

It also appears very unlikely that I will meet my target of paying all my debts by March 2009 as I had hoped! It is looking more like June or so. Which I also won't be sad about. Being debt-free by 30 is still do-able, and also not a bad achievement, even if I wanted to do it before 29!

October 08 Totals

2008-10-23T16:05:00.000-07:00

792 - Credit cards
0 - Car
18544 - Student loans

19336 - Total Debt

131 - Emergency Fund
8697 - 401K
284 - Roth IRA

9112 - Total Savings

Net Worth: -10224

So, investments down, but hacking away at the CC debt and excited about the prospect of making some extra money in the winter craft show season!

Extra Money For Fast Googlers!

2008-10-05T13:27:00.000-07:00

I'm always looking for ways to make extra money, and ChaCha is one of my most recent discoveries.

ChaCha allows users (anyone in the US - try it!) to send a question via text message to 242242 (ChaCha). ChaCha "Guides" are standing by on their PCs, 24/7/365, ready to find the answer.

To become a Guide, you sign up on their site, read some training material, and then complete a series of test searches, which will be evaluated over a period of a couple of days. Once accepted, you can sign in to Guide pretty much whenever you want, for as much time as you want! You can even fill out a profile describing your interests to increase the likelihood of getting questions that you're suited to answer.

Sound too good to be true? Well, honestly, you'd have to spend a LOT of time Guiding to pay your rent. Guides currently start out getting 10 cents per successfully completed question - so if you're speedy and can answer 50 questions an hour, that's only $5! However, incentives abound, from achieving a higher pay rate based on answering a high number of questions over time, or getting bonuses, either randomly awarded, or for completing a certain number of answers in a certain time frame.

All in all, it's not a bad way to make some extra cash - especially if you're watching TV or surfing the Net anyway. I've made enough so far for a tank of gas!

September 08 Totals

2008-09-22T17:07:00.000-07:00

1401 - Credit cards
0 - Car
18685 - Student loans

20086 - Total Debt

374 - Emergency Fund
11228 - 401K
273 - Roth IRA

11875 - Total Savings

Net Worth: -8211

Been spending too much lately. Falling behind on loan payoff and still have not paid off credit card! Need to impose discipline!

Making some extra money from selling crafts, which always gets busy during the holidays. Doing a little work as a guide on ChaCha, but that pays hardly anything. Need to beef up the EF and get that debt GONE!

August 08 Totals

2008-08-24T08:54:00.001-07:00

1542 - Credit cards
0 - Car
19128 - Student loans

20670 - Total Debt

342 - Emergency Fund
10494 - 401K
233 - Roth IRA

11069 - Total Savings

Net Worth: -9601

Slowly but surely, but, ah, slowly, moving in the right direction. Roadtrips galore....but that is what summer is for, if you ask me. I will be hibernating soon enough.

July 08 Totals

2008-08-07T16:07:00.001-07:00

1752 - Credit cards
0 - Car
19553 - Student loans

21305 - Total Debt

447 - Emergency Fund
10159 - 401K
191 - Roth IRA

10797 - Total Savings

Net Worth: -10508

Aaaah, still catching up from Europe and car inspections and summer road trips! Things are a bit dire now, but I won't panic, just keep plodding along.

June 08 Totals

2008-06-28T06:17:00.001-07:00

1926 - Credit cards
0 - Car
20695 - Student loans

22621 - Total Debt

825 - Emergency Fund
9007 - 401K
143 - Roth IRA

9975 - Total Savings

Net Worth: -12646

Well, I am back from Europe! It was completely worth it, but my finances took a big hit. I depleted my savings a lot, and my savings are not earning very much now, either.

It's scary, after about $700 in contributions to my 401K this month, it is still worth LESS than it was last month. I guess that is good around dividend time though, but...man.

So, I have some CC debt to tackle and I need to beef the EF up again as well. I can do this. August is one of those magic-three-paycheck months! And I'll be disciplined. I am getting too close to my goals to not be.

And, at least, the trip was super fun!

May 08 Totals

2008-04-29T21:31:00.000-07:00

0 - Credit cards
0 - Car
21495 - Student loans

21495 - Total Debt

1683 - Emergency Fund
9015 - 401K
101 - Roth IRA

10799 - Total Savings

Net Worth: -10694 (soon this will be positive and I will be so excited!!)

So, my EF went down the crapper since I went to Germany for work and did some shopping with our weak dollars. Then I bought tickets to go back to Europe next month! BUT at the same time, I am not going to feel bad about it. I work hard and I deserve this. And, I am still making progress on my debt reduction and long-term savings. And I still have some money in the EF in case of emergencies.

So I am happy!

April 08 Totals

2008-04-26T08:04:00.000-07:00

0 - Credit cards
0 - Car
22925 - Student loans

22925 - Total Debt

2780 - Emergency Fund
8308 - 401K
50 - Roth IRA

11138 - Total Savings

Net Worth: -11787 (soon this will be positive and I will be so excited!!)

Made a lot of headway on the loans this month! We got our bonuses at work, which helped with that. I went to San Francisco which depleted my EF a bit, but I am not feeling too badly about that. I will still be getting a sizable refund from my federal income tax, as well as the stimulus payment, so that should help me build up a little more of a cushion!

March 08 Totals

2008-03-21T16:00:00.000-07:00

0 - Credit cards
0 - Car
25372 - Student loans

25372 - Total Debt

3315 - Emergency Fund
6800 - 401K

10115 - Total Savings

Making progress on the loans. EF went down a bit. I took some out to pay for a writing workshop next month that I really, really, want to go to, and to pay the entrance fee for a conference I am going to. I am glad that I have extra money around to do these things! So I am not stressed about it. But I don't want to let it go under $3K...

Oh, I just noticed that I have finally passed the point where I have paid off more than I still owe! Sweet.

Bonus Time!

2008-03-13T18:49:00.000-07:00

I get a bonus this year! Finally! Wahoo! See, though I will have been working with this company for 5 years in July, I was a contractor for most of that time, and was just hired permanently last year. So this is my first year of getting to enjoy a bonus, the first installment of which will be in tomorrow's paycheck. My company does it very oddly. You get 80% of it at first, and the final 20% comes about 6 weeks later (after taxes are filed, I guess). And for me, the whole shebang was lessened by the fact that I was only an employee for 67% of last year and my bonus was adjusted accordingly.

Why are bonuses taxed so much!? I do not understand. My installment now was $1467, of which I get $874. 40% straight to Uncle Sam! Sigh. It is appreciated, though, although I won't be doing anything earth-shattering, just paying back my EF, from which I borrowed some money to pay for my CSA (Community Sponsored Agriculture) share, which will get us fresh groceries every week for 30 weeks! and also ran up a small balance on the Southwest credit card on which I charge day-to-day purchases and pay off every month.

It's just funny to watch something like National Lampoon's Christmas Vacation and the way bonuses were often associated with Christmas. At the same time, that movie has a good lesson - don't count on bonuses. Don't look a gift horse in the mouth.

I do wish it were a little higher - in fact, it likely could have been. The company grades our performance on several measures to determine what percentage of our salary our bonus is. One of these measures is safety, and I think we did horribly last year, with several recordable injuries. Sad to think that someone smashing their finger in a filing cabinet can contribute to thousands of people getting a smaller bonus, but, hey, it's free money and I am grateful for it.

February 08 Totals

2008-02-16T18:35:00.000-08:00

0 - Credit cards
0 - Car
26284 - Student loans

26284 - Total Debt

4070 - Emergency Fund
6150 - 401K

10220 - Total Savings

Feeling good about things.

Still need to do my taxes for this year. Think I will get a refund (though not counting on it for anything). I did a quick calculation with an online tool and was at about $800. We'll see.

My plans for the year as detailed in the last entry haven't really taken any additional pay into account. I don't like to base plans on things that haven't happened yet. However, with a tax refund, as well as the bonus I will be getting (part on March 14 and the rest in April) I would put 50% of those toward my loans and the other 50% in my EF. I may get a COL raise of 3% or so this spring and would likely put that into the EF too.

You may have noticed that I have a liberal definition of "Emergency Fund." Basically it's everything in my ING account, so pretty liquid, though not immediately accessible, and earning interest. I keep money in there a bit to think about what I'll do with it before doing something like taking a trip or making an extra loan payment. Having had some lean years growing up, it's really an enormous comfort to know that some money is there if I need it.

Getting a Roth IRA is probably a good idea at some point too...hm.

I honestly can't believe that I started this blog two whole years ago. I was just thinking about the beginning, and for a minute, I couldn't remember if it was '06 or '07 that I began. It does sound a little crazy for me to say that I am hoping to pay as much debt as I did in the third year of this journey as I did in the first two combined. But those who know me know that I can be kind of crazy, and have mad stamina!

2008 Goals/Checkpoint

2008-01-26T08:36:00.001-08:00

I just realized I haven't taken a look at the big picture in a while.

Here is what I am doing lately with regard to finances:

Loans - about $750 a pay toward these
ING EF - about $100 a pay toward these
IRA - about $350 a pay toward these (includes company match)

Loans: Stretch goal is to pay down to $9000 by the end of 08, then $1500 a month for the first 6 months of 09. This would leave me debt free by 30, though it would feel more exciting to be debt free by 29 (March 09). Just think, the sooner I can pay off my loans, the sooner I will free up $1500 a month to put into savings!

ING: I hope to have about $4500 in ING by the end of Feb and $5000 by the end of March since I have gotten a little addicted to seeing that balance rise and putting some extra in there! But after that I will feed it at that $100 per pay rate. This would leave me with about $7000 at the end of the year, however, I am fully prepared to use $3000-4000 of that on a 1-2 week trip to Europe this summer, so it will be less. My ultra bare-bones monthly budget is about $1000, so it would still leave me a bunch of time should anything happen with my job.

IRA: These contributions added to my existing balance would put me at about $14000 at the end of the year, though who can really say how things will go with the behavior of the market lately?!

So this is how I hope things will look at the end of the year:

0 - Credit cards
0 - Car
9000 - Student loans

9000 - Total Debt

4000 - Emergency Fund
14000 - 401K

18000 - Total Savings

Which also means that I will achieve a positive net worth sometime in 2008 also! Exciting stuff!

January 08 Totals

2008-01-12T07:55:00.000-08:00

0 - Credit cards
0 - Car
27244 - Student loans

27244 - Total Debt

3707 - Emergency Fund
5345 - 401K

9052 - Total Savings

The house two doors down for us went up for sale recently! And sold super fast, before I could even think about wanting to buy it. But it made me think about having more cash on hand for such an occasion, should another property that seems right come up for sale, and I reduced my loan payments this month to beef up my EF a bit. I am lucky to live in an area that wants young people to buy houses here so badly that apparently, as friends who have bought houses tell me, you can get a house with no money down, and even finance the closing costs. Not that I necessary want to do that, but I'll be continuing to add to my EF as aggressively as possible.

Right now my EF is in ING and it's a mix of their standard Orange Savings at 4.1% and short-term CDs at 4.7%. All told, it is earning about $14 a month or $170 a year. Not bad! Nothing I could live on, but it's getting somewhere!

And I still hope to get somewhere this year, somewhere far, far, away, across an ocean, so lots of that $$ will go away and I am trying to make sure that I have some left over too for, well, emergencies!

December 07 Totals

2007-12-22T08:26:00.000-08:00

0 - Credit cards
0 - Car
27616 - Student loans

27616 - Total Debt

2197 - Emergency Fund
5295 - 401K

7492 - Total Savings

So, my EF didn't take the hit I thought it might, after Christmas shopping. What saved me was an unexpected small windfall from a project that I had worked on this year.

I have been managing my EF more fastidiously lately, too. Those nice guys at ING Direct are kind enough to send you cute emails when the interest rate on your account goes UP, but not when it goes DOWN. Sneaky! It's taken a couple of steps down recently and is currently at 4% or 4.1% or something. However, they offer a lot of options with regard to CDs, and you can get a rate of 4.7% just by committing your money for 6 months.

So I have been keeping a good chunk of my EF in CDs...making sure that I have enough accessible for a real emergency. However, it's pretty easy to get your funds out of a CD, too. They do take a penalty fee of three months' interest, though.

Here's to a productive 2008! I hope to knock out most of my remaining loans while socking away as much as I can. Other goals include going to San Francisco and Europe, and helping to educate my friends and family about saving so that everyone around me can feel better about their situation! Yay!

November 07 Totals

2007-10-31T20:51:00.000-07:00

November 07 Totals

0 - Credit cards
0 - Car
28912 - Student loans

28912 - Total Debt

2020 - Emergency Fund
4621 - 401K

6641 - Total Savings

Moving along, moving along.

Trying to get back on track with putting $1300 a month toward loan debt (this was my aim - or more, even, if I could). And any extra that I can scrounge up!

A couple of things made me a little discouraged, though they aren't really setbacks or anything...just, depending on how you look at numbers, things could seem better or worse than they are. For example, I realized that I am not yet vested, and only about two-thirds of that 401K total is actually mine at the moment. Which, still, is not too shabby, and growing fast.

In addition, my boss told me that I was getting a bonus, and I assumed that taxes and all would be taken out as normal...but I had no idea! I lost over $600 of it to taxes (it was taxes more heavily than my normal pay) AND, coincidentally, I found out from the HR department that they had made an error and withheld too little tax this year, so they made an adjustment to the tune of $300-some dollars. $1000 straight to Uncle Sam. But it was gravy anyway, so can I complain? No...I just wish my boss hadn't told me what the amount was supposed to be, a month before I got it. I had a lot of time to think about what I was going to do with that money!

But it's a good lesson - until it's in your hands, you are not going to be doing too much of anything! So better to cool your jets.

October 07 Totals

2007-10-14T10:19:00.000-07:00

October 07 Totals

0 - Credit cards
0 - Car
29750 - Student loans

29750 - Total Debt

1910 - Emergency Fund
3800 - 401K

5710 - Total Savings

September 07 Totals

2007-09-01T05:26:00.000-07:00

September 07 Totals

0 - Credit cards
0 - Car
30564 - Student loans

30564 - Total Debt

1859 - Emergency Fund
3103 - 401K

4962 - Total Savings

August 07 Totals

2007-08-04T08:36:00.000-07:00

August 07 Totals

0 - Credit cards
0 - Car
31083 - Student loans

31083 - Total Debt

1300 - Emergency Fund
2296 - 401K

3596 - Total Savings

Not too much is new....loans are moving in the right direction, just more slowly than I would like! Hopefully I'll get more disciplined about this soon. I really do NOT want to have any debt when I hit 30. Although I should reach a positive net worth before then which will also feel pretty good! I guess that I could technically include the value of my car in such calculations, though I should not, because of course it just gets smaller every passing day and that is sort of depressing. But it is doing well and I hope to have it for a long time! I just threw down a few hundred on some pretty hardcore tires which was a big expenditure, but they'll take me to 100K and make sure I don't have any more accidents in the snow! Sigh.

July 07 Totals

2007-07-17T20:29:00.000-07:00

0 - Credit cards
0 - Car
31905 - Student loans

31905 - Total Debt

1026 - Emergency Fund
1760 - 401K

2786 - Total Savings

We went on a vacation to Boston at the beginning of the month, so I not only didn't add too much to savings, I took a bit out of my EF, and did not make a very large payment toward my loans this month. I'm still not used to getting paid every two weeks instead of once a month on the 15th. It may sound funny, but it was almost easier to get the whole month's pay in one big chunk. I know that it shouldn't really make a difference though.

Anyway, I plan to make two nice payments to my loans in August, which will hopefully get me back on track.

June 07 Totals

2007-06-23T09:10:00.000-07:00

0 - Credit cards
0 - Car!!!!!
31942 - Student loans

31942 - Total Debt

1230 - Emergency Fund
1080 - 401K

2310 - Total Savings

It felt so good to pay off my car!!!!! Just waiting for the title to come in the mail...

Buckets of Fun!

2007-05-26T15:40:00.000-07:00

One thing I really love about my ING account is the ease with which you can set up smaller accounts within your master account! Once you are all set up with them, it takes literally maybe 1-2 minutes to set up a new account, linked to your checking account or however you have set it up, ready to transfer funds!

So far I have set up separate funds for Travel and Christmas. I have been running around $500 a year for holiday gifts, so, if I set up an auto deduction for just $10 a week all year, I'll have a pile of Christmas money ready for me, with no stress!

If you are saving for a deadline, like December 25 or so, just figure out how much money you'll need, divide it by the number of weeks between now and then, and just set up an auto deduction from your checking account for that amount each week! The sooner in advance you can start planning for something, the smaller the burden on your budget.

I have set up a general Travel fund because I hope to go on a really big trip somewhere next year, and I don't have any specifics, but if I just do a little a week, I'll be ready to jump on a great airfare sale next Spring. Again, $10 a week for a year is not a bad start - a ticket to Europe if you find a good deal, a few tanks of gas and hotel money for a long-weekend road trip!

And, of course, this money is earning interest all the while, growing for you as you move toward your deadline!

In addition, and this may be an option for you, my job just set up a new, great HR system where it is easy as pie to have up to five direct deposits set up. So I could have the money directly deposited from my paycheck into these buckets. It can't get much easier than that! Well, I do understand that there are certainly times for all us when there really might be $10 a week to spare. But that is when you make it like a game, and cut down where you can, maybe eating out one time less per week, setting up online banking to mail your bills instead of sending them with stamps....get creative!

But the point really is, no matter what amount you can spare a week, get that auto-deduction set up so you can save without having to think about it - heck, even $2 for a year would be like finding a Benajmin on the ground just when you need it - whether it's something special for your sweetheart's birthday, or an extra payment to the student loan, or that new pair of glasses you didn't think you'd need...

May 07 Totals

2007-05-20T10:13:00.000-07:00

0 - Credit cards
1369 - Car
32436 - Student loans

33805 - Total Debt

1279 - Emergency Fund
432 - 401K

1711 - Total Savings

I am well on my way to a positive net worth!!

April 07 Totals

2007-04-19T20:30:00.000-07:00

0 - Credit cards
2660 - Car
32496 - Student loans

35156 - Total Debt

250 - Emergency Fund

March 07 Totals

2007-03-17T09:38:00.000-07:00

0 - Credit cards
3948 - Car
32545 - Student loans

36493 - Total Debt

250 - Emergency Fund

Saving Money on Food

2007-02-25T19:06:00.000-08:00

This is a big challenge for me. We both love to eat good food! Who doesn't? However, there are a lot of things that you can do to keep spending in check. Here are some of my recent tactics:

--Beware of coupons. Sure, if you have a Sunday paper, check out the offerings, but the vast majority of coupons are for brand-name items which are already more expensive! It's not worth it, even with the savings, unless you go to a place that offers double or triple coupons.
--Make lists! They'll help to keep you on track and avoid impluse buys. Whatever works for you. Perhaps it would be more helpful to you to keep a piece of paper on the fridge, that you mark as you run out of things. Put this list in your wallet so that when you go to the store, you can get in there for what you need and be less susceptible to impulse buys.
--Go to different stores. I hate to admit that this is necessary, but if you plan your trips, you can accomplish your shopping needs without wasting too much gas or time running around. For example, I love going to Costco. For many things, it is great, however, some things are better bought at the regular supermarket, like produce - if I bought limes in Costco volumes, for example, I'd get a good price per unit but I wouldn't be getting a good deal if half of them went bad before I could use them. Which has happened. Additionally, there is an Aldi between Costco and the grocery store. So I will also stop there to pick up things that the grocery store might be selling for more money, like cooking oil, or produce sometimes.
--Learn how to wing it! Couscous is one of our favorite things to have on hand. You can mix them with so many things! We have an improvised dish that we make that goes a little like this: Saute some onions and green peppers, mushrooms, whatever vegetables you may have on hand. Make couscous separately. When the vegetables are done, mix everything together. You can also add other things to this like cheese, is you have it - we love feta - and some stir-fried tofu. Tasty!
--Brush your teeth! Ok, this may sound crazy, but I find that if I brush my teeth right after eating dinner I am not as likely to want to pick on foods and snack all night. I am really bad about this. Give it a try if you are too!

February 07 Totals

2007-02-18T19:53:00.000-08:00

0 - Credit cards
5233 - Car
32623 - Student loans

37856 - Total Debt

500 - Emergency Fund

Well, unexpected expenses continue to pop up.....I had a minor car accident in the show, and have to pay the $500 deductible as well as rent a car during the time of the repairs. Also, we just went to visit my ailing grandmother, and the last-minute airplane ticket was not inexpensive, though certainly justified. Luckily, my tax refund just about covers these things, without me having to use credit cards for any of them.

I also applied for the Southwest card after seeing a really great intro offer that would allow me to earn half a free flight just for signing up! We will see if i get the card. I hope so - I love Southwest!

Additionally, I was shorted an entire week's pay on my last paycheck from work. Just another example of why it's important to keep your own records and know how much to expect in your check!!

January 07 Totals

2007-01-21T15:33:00.000-08:00

0 - Credit cards
6509 - Car
32687 - Student loans

39196 - Total Debt

602 - Emergency Fund

Sigh, I had to deplete my emergency fund somewhat to get through the holiday season. I am bummed out about that! Though happy about making a fresh start for 2007! I feel like I am really on track with my goals. It is going to feel awesome to hold the title to my car in my hand! I just know it!

December 06 Totals

2006-12-21T17:52:00.000-08:00

0 - Credit cards
7784 - Car
32687 - Student loans

40471 - Total Debt

1462 - Emergency Fund

Goals have not changed since last month:

1. Keep balance zero on credit cards
2. Keep putting money in Emergency Fund (EF)
3. When I get about $3500 in EF, take $3000 to open a Roth IRA
4. Simultaneously work on paying off my car; this will be completed in June 2007
5. After car is paid off, get more aggressive with student loan payments, doing lots more than minimum payments, with the goal of paying off by first/second qtr 2009

November 06 Totals

2006-11-15T19:35:00.000-08:00

0 - Credit cards
8079 - Car
32798 - Student loans

40877 - Total Debt

831 - Emergency Fund

The Eagle Eye Gets the Prize...

2006-10-18T18:41:00.000-07:00

Busy, busy, busy. Who among us can really say that they have enough hours in any day? I know I can't, that's for sure. But there is one thing that we need to make time for, and that is a quick review of our accounts and all their ins and outs.

When I got the first bill after signing up for my cell phone plan a few years ago, I almost had a heart attack. Something definitely didn't seem right - it was so high! I took a look at the bill, and found that, although I had signed up for a plan that included free nights and weekends, I was being charged for all the calls I made during those times! I called the service provider, they said right away, "You are right! I'll change your bill right now!" But what if I never looked? What if I had that bill set up to auto-pay every month and never looked and it just kept deducting that wrong amount?

I thought of this the other day, too. I get paid once a month for the number of hours I worked in the previous month. I usually calculate the amount before my check even comes, so I know how much to expect and can plan out my budget. When I got my paycheck this month, I saw right away that the number was not correct. I called the office, explained the situation, and they checked on it, agreed with me, and wrote me a check for the difference of a couple hundred. What if I hadn't bothered to find out in advance what my check should have been?

Nowadays, our information might pass through the hands of numerous people, and who can say how many computers, before it gets to where it needs to go. Humans aren't perfect, and computers don't have the brain to tell when something "looks wrong." It's up to you to keep an eye on your accounts - it's your money!

October 2006 Totals

2006-10-14T14:21:00.000-07:00

0!!!!!! - Credit cards !!!!!!!
8427 - Car
32864 - Student loans

41291 - Total

Yes! I did it! I paid off my credit card! I am going to be eating a hell of a lot of rice this month, but it will taste so awesome, I can just tell.

I think I may revise my strategy just a bit for a couple of months to really get my emergency fund funded, as well as some sort of long-term savings set up. I'll probably start reporting those totals each month too, once they start being a little less embarrassing. I did have a fair amount saved up, and then there were all these....emergencies.

My strategy is changing a bit from here on out, based on some talk I've been having with some very kind and wise folk on a PF forum I found.

I think that I will beef up the Emergency Fund (EF) first, then focus aggressively on paying off my car by June 2007. Then I will work on the student loans while also putting the maximum $4000 a year in a Roth IRA.

I think this will allow me to stay on track in paying off my debts, or maybe finish paying them off a few months later than scheduled, while making sure that I do start on some long-term plans and planning for short-term unexpected needs as well!

September 06 Totals

2006-09-14T18:11:00.000-07:00

1975 - Credit cards
8670 - Car
32875 - Student loans

43520 - Total

I've been working so much lately! I didn't get to make as much headway as I wanted to on my credit cards because I had to spend another couple hundred on some clothes for work. At least I did so during the great Labor Day sales!

I wish I could pay my credit cards off by next month but I don't have $2275 free. Haha, maybe if I didn't eat for a month. I will see if I can do some extra work somewhere for some extra cash. Almost there! Man, I'm so close I can taste it.

My credit score has been going up and up since I've been whittling these down. It was hovering around 675-690 for a long time. In August, my TransUnion score was 710, and I just checked yesterday, and Experian says my score is 730! Getting there, though I have a bad habit of thinking of credit scores like SAT scores, telling myself "Once you pass the 700 mark, you can basically stop trying." Not so much! Haha.

I'm so excited about how much money I will have freed up once I have paid the cards off. Sure, it will be going toward debt management, but at least a car payment and federal student loans are much more noble things to be in debt for, you know?

I fully admit that Christmas shopping will derail me a bit, too, I know, although I am already pre-empting that by trying to find ways to spend less money, one of which is to use points from my bank card rewards program to get things like restaurant gift cards that I'll use as gifts. I don't really care about Christmas that much myself, but I always have to get some things for my immediate fam.

It's That Time of the Year Again!

2006-08-23T18:30:00.000-07:00

Need a few extra bucks? Why not go through your old books and post those that you don't need anymore on half.com?

Check it out:

http://www.half.ebay.com/

I've been using this site for years. It's pretty simple to get started. You can sell books in any condition. Payments are lumped and distributed twice a month on the 15th and the 30th.

Now is the time to do it since all the college students are getting their books for classes and lots of the smart bargain hunters use half.com to do it! I know I did when I was in college!

So, admit to yourself that you are never going to brush up on your literary theory again and get those pages to someone who needs 'em! I need to do that myself...

August 06 Totals

2006-08-19T08:53:00.000-07:00

3482 - Credit cards (augh!)
8937 - Car
32893 - Student loans

45312 - Total

The credit cards are just almost do-able in 2 months, if I really really stretch and don't have any unexpecteds...and not too much fun either. I'm so close!

It's Summer, But I'm Not So Hot...

2006-08-15T16:52:00.000-07:00

Well, I'll post the totals in a few days, but August's are really going to be nothing to write home about. This has been a crazy month for expenditures: Eye exam and a new supply of contacts, teeth cleaning (w/no dental insurance, though I do, luckily, have vision coverage), ER visit last month, routine checkup, and my auto inspection, with the few hundred dollars worth of work I needed to do to pass. It's hurtin'!

The good news is that I can't remember the last time I ate out, and spending in general has been way down. I think I will treat myself to a couple of new albums this payday, so I don't go totally bonkers.

July 06 Totals

2006-07-18T20:17:00.000-07:00

3693 - Credit cards
9179 - Car
32929 - Student loans

45801 - Total

It is looking like my student loan balance is going to be increasing every month if I don't step it the hell up. Gotta get these credit cards out of my face and start sliding those 1000+ payments over to the government, stat!

It's a Long Road Ahead.

2006-07-16T21:27:00.000-07:00

Staying motivated on this path is a hard one.

One thing that I find helps is just taking another look at the numbers. It might not work forever, but seeing the numbers go down, down, down every month is great. Of course, I wish they were going down faster, but as long as they're not going up, I'll be ok with that!

One thing that makes me sad is that I'm not growing my savings really aggressively at this point. I realize the importance of saving, and starting young! But when you think about it, channeling the money I would have put in savings towards eradicating my debt will have the same effect on my net worth.

Right now I am trying to put $20 a week into my emergency fund. This does not happen in tight weeks. This month is a killer with car reigstration, car inspection, having to get a tire mended, going to the dentist and eye doctor, and the emergency room besides! My pockets are empty.

I also, without fail, put $500 into a CD every 6 months. I know this is not the most aggressive tactic, but I think I will be a lot more aggressive when II have my dispoable income back. I wish I had a bigger emergency fund, but I can break my CDs (with a small penalty on the interest) if something catastrophic happened.

Since I am paid once a month, when I get paid, I actually put some of the money into my savings account, and take it out after two weeks. It's another little thing to keep track of, which can be tricky, but it makes it seem like I get paid twice a month, and my money is earning a bit of interest in the meantime.

You know my motto: every bit counts. My boyfriend thought I was crazy when I stopped to pick up a shiny penny on the sidewalk last week. I told him I thought it was a dime, and that helped my case a tiny bit, but just a tiny bit, really.

June 06 Totals

2006-06-20T20:17:00.000-07:00

June Totals

4978 - Credit cards
9424 - Car
32883 - Student loans

47285 - Total

This feels like it is taking/is going to take forever.

I have to try to remember that knocking away a solid $1000 in debt, after interest, in even a crappy month (these June totals reflect my May activities, from the paycheck for time worked in April - I missed some work from being sick and May was therefore a tight month, sigh) is a good thing.

I am racking up the points with my checking account! I have 12000+ now and with 20000+ I can get either $40 cash or $50 credit to certain stores. I'm not advocating frivolous spending, but it might be good to get some new clothes for work.

I still haven't gotten an $88 check for an odd job I did over a month ago now. I'm on the phone a couple of times a week with these people! I know it is not a ton of money, but I don't know how they can have such a hard time getting their act together. Other family members of mine worked the same event and were paid without incident...

Am also participating in a study at one of the universities for $20. Every bit counts.

Very interesting...

2006-05-19T17:46:00.000-07:00

I have a problem with Coinstar change-converting machines. They are a great idea, but the 8% they take out for their services really bothers me.

I just found out that you can change your coins in for free...if you have a location near you that provides a gift-card option.

Apparently you can change your coins in for gift cards to places like Starbucks, Waldenbooks, Pier 1, etc, and avoid paying the fee.

Now, I'm not going to advocate this wholeheartedly...I mean, if you have $100 in front of you, I'd say it may be safer to put it in an ING account or something instead of using it all on Caramel Macchiatos...but if that's your poison....

Find out if you have a gift-card-offering machine near you here: http://www.coinstar.com/us/WebDocs/A1-0-3-1

May 06 Totals

2006-05-18T16:40:00.000-07:00

May Totals

5718 - Credit cards
9662 - Car
32897 - Student loans

48277 - Total

Getting there...little by little. I can't wait to have those credit cards paid off - the interest they accrue each month is hazardous! I'm working the hardest on those, first.

April 06 Totals

2006-04-24T20:17:00.000-07:00

6757 - Credit cards
9913 - Car
32961 - Student loans

49631 - Total

Sense and Sensibility

2006-04-24T19:23:00.000-07:00

While I have as much debt as I do, I am going to focus most of my disposable income toward paying that off. However, I am not going to neglect savings while I am paying off my debts. I am concerned with having a safety net, in case something went awry with my employment or another emergency came up.

I admit that I once thought that a.) it was unimportant to save money in one's 20s, and b.) it was impossible to save money in one's 20s. That was until a friend pointed out to me a principle that I just found reiterated on another site here: saving in your youth is not only smart, it is practically an imperative in an age when the fate of Social Security is so uncertain, and life spans are ever-increasing. The author of the linked piece writes:

"Suppose you set aside $1,000 a year (about $19 a week) from age 25 to 34 in a retirement account earning 8% a year, and never invest a penny more. By the time you turn 65, your $10,000 investment will have grown to $168,627.

But if you don’t start saving until you’re 35 years old and then invest $1,000 a year for the next 30 years—that’s a total investment of $30,000—you’ll have only $125,228 by age 65.

You might want to read this example over again, slowly.

The moral of this story (a depressing one if you’re in your forties) and the focus of this chapter: If you don’t start saving in a tax-favored retirement account while you’re young, you’ll miss out on perhaps the best investment opportunity of your life. That’s because retirement plans offer terrific tax advantages that allow your savings to grow rapidly. In order to maximize the benefit, though, you should get started right away. The government limits the amount you can set aside each year, so if you fail to contribute now, you won’t be able to make it up when you’re older (and perhaps wiser)."

When my friend first pointed this concept out to me, I thought what you might think: "Well, thanks, but I do not have a spare $1000 laying around." Until I did the math in my head, realized that that was indeed less than $20 a week, and that I could strive for, and meet, this goal.

You should try to do this too, if you can. If you think you can't, think about your situation in two ways. First of all, can you cut any of your expenditures so that you come up with an extra $19.23 a week? Maybe you are spread thin, and truly cannot. Then, think about your situation in terms of what you can do to get that extra income every week. You owe it to yourself!

Here are some thoughts that I have considered, and that friends have shared. Not all of these topics will resonate with every person. What I hope to encourage you to do is to cut back in places where it didn't seem possible before, and to consider income sources that you may not have considered before:

To Cut Back and Save
--If you use a credit card responsibly, or consider applying for one in order to build a solid credit history, seek one that offers cash-back rewards, without charging an annual fee, of course.
--If you insist upon giving into your Starbucks urges, think about cutting back. Instead of a latte, get an Americano with room for cream.
--Walk, run, bike, skate, etc, when you can. You'll avoid having to pay gym fees while cutting back on your gas usage.
--Do not succumb to those oh-so-convenient coin machines at the supermarket that let you dump your coins in and trade them for cash. Those often deduct a fee for their service of up to 10% which is too much to pay for convenience! Suck it up, roll 'em yourself, and keep the extra $10 on a $100 by taking them to the bank for free.
--Does a grocery store in your town offer incentives on fuel for shopping there? That could be a wise choice - unless their prices are higher to compensate for this, and end up costing you just as much anyway.
--If you belong to a warehouse store such as Costco or Sam's Club, see if they offer a better price on fuel. Mine often do.
--If your cell phone does the trick and you feel as if you can't live without it, get rid of your land line.
--If you are paying off several debts at once, make sure you check the interest rates on all of them. Devote your extra resources to paying off the one with the highest interest rate first!
--Grow fruits, vegetables or herbs at home.
--Don't just throw two first-class stamps on a letter if it feels heavy. Take if to the Post Office and have it weighed - additional ounces are less than 39 cents.
--If you really just like a certain song from a new album, buy the single song on iTunes.
--If you are a AAA member, make sure you are taking full advantage of all the discounts that your membership offers! Contact your local office for a booklet listing them all.
--Do you taxes yourself instead of paying someone to do them! For most of us, this is definitely an option. The instructions are lengthy, but really not that hard to understand.
--See if your favorite stores accept competitors' coupons. They may have a sign stating this in the front window, or you can try asking your cashier.
--f you find yourself buying a certain magazine every time it comes out, getting a subscription might save you money in the long run.
--If you like to cook, make double recipes and freeze half for later. This will help you curb impulse food buying, since you'll always have something tasty waiting for you in the freezer!
--If you're going on a road trip, bring some snacks from home (like a bottle of water and a thermos of coffee!) or even buy some munchies at the supermarket. Food on the road is going to be expensive and, if you're riding around hungry, you'll be more prone to impulse-buy.
--Invest in a programmable thermostat to save money on heating bills in the cold times of the year. For example, we were both out of the house every day from 9 am to 6 pm, so we programmed ours to turn itself all the way off during those blocks of time.
--Buy some reusable plastic containers for your food, to save money on zipper bags, foil and plastic wrap.
--Re-use plastic shopping bags as liners for small trash cans and as lunch bags. You don't need to buy brown bags or tiny trash bags.
--Rent movies instead of seeing the newest ones in the theater. Also, not that I'm advocating this, but bringing your own snacks to movies will save you a lot, if you must see the latest flicks first.
--Don't use dryer sheets, or if you do, cut them in half.
--Use 3/4 of the suggested amount of laundry detergent. It will do the trick!
--Did you know that you can make your own microwave popcorn? I didn't! All you need are some kernels and a brown paper bag. Fold the bag over tight, and fire that microwave up!
--Carpool with friends or coworkers if you can.
--Bring lunch to work! Even if you don't do it every day. This will save you so much money. When you make dinner at night, make a little extra, and save it for the next day.
--Meat is costly! If you are a meat-eater, try eating less meat, and get your protein from sources such as eggs, tofu, beans, and nuts.

To Generate Extra Income
--Babysit! A good old standard. Start with neighbors with whom you are friendly if you don't know any other place to get started. Or friends' or coworkers' kids. If you are really in a financial pinch, and willing to give up some fun, you can charge higher rates by working holidays - New Year's Eve, Valentine's Day, etc...
--If you live in a university town, there are probably medical/psychological studies going on during the school year. check in your local newspaper or free weekly, or on Craigslist.
--Speaking of Craigslist, this place is a gold mine. This is where odd-jobbers die and go to heaven. Depending on whether your town is on here, or if a lot of people in your area use the site, you can really do well posting things like "Big snow today, huh? Call me and I'll shovel you out!" Maybe raking leaves is your forte? People post a lot of other jobs on here, one-time gigs such as transcribing jobs, editing jobs, moving jobs, etc. Get creative and dig around!
--Roll change that you find around the house. It depends on how dire your straits have been, but I know a bunch of people who could scrounge a $20 out of this.
--Sell plasma. I won't lie, this is not very pleasant. If you are not a fan of needles, this is not for you. However, it is possible to make $30-40 a week, cash, doing this.
--Sell books and media items on Half.com.
--Sell things you don't need anymore on that wonder of wonders, eBay. Many towns also now have storefronts where you can bring the items that you want to sell and staff there will get it online and sell it for you.
--Some banks are now offering no-fee rewards programs that offer gift card or cash-back incentives just for doing your everyday banking! One is National City.
--Start a new savings account at ING with a minimum deposit of at least $250, and you'll get a $25 bonus. You need to have a current account-holder send you a referral link - contact me and I can send you one.
--This is pure chance, but Blingo offers the chance to win money while you Google! So far I've only won a bunch of free movie tickets, but hey, free entertainment! And I keep hoping...

March 06 Totals/I am greater than the sum of my debts.

2006-03-23T18:38:00.000-08:00

A young go-getter friend of mine recently chastised me for not having a 5-year plan. So I sat down and really took stock of my life.

I added up all my debt and saw that it came to $50,958. And then I did some more figuring and found out that I could feasibly have this paid off in 3 years. 36 months. 1095 days from today. But I'm going to try to do it even faster, if possible. And I'm posting it here to show people that it can be done, and to give myself the motivation to continue, if I'm stating my goals in a public forum.

7836 - Credit cards
10147 - Car
32975 - Student loans

50958 - Total

I'll post new numbers on the 23rd of every month. I've always liked that number, 23. And I'll also post tips and thoughts to save money and live on less the rest of the time.

I hope you'll join me on my journey!