Financial Goals 2013: Revised Edition

When putting together my Financial Goals for 2013, I believe now that I had unrealistic expectations of what we could actually accomplish.  So it is time to revisit the original goals and revise them to better suit us.  

1. Pay off remaining Credit Card Debt:  Almost done.  The balance now hovers at 350.00 dollars.  The credit card debt  has been as high as $13,000.00

2.  Increase savings to 5000.00.  Revising this amount to $3500.00


3.  Save $1200.00 for Christmas,Weddings, and Birthdays.    This year, we took a hit our budget with  unplanned weddings and some special birthdays.  Going to do better this year.   Christmas I will still plan to keep it around $500.00    no changes here.  No money saved yet, but will definitely get going on it.



4.  Save $2000.00 for a trip to Las Vegas in Spring. Nope.  No money put aside, no trip.  Too much going on around here with mom.

5.  Begin contributing to my Roth again.  Only 100.00 so far.  

 6.  After all of the above are accomplished, it will be time to apply all extra money (at least $7000.00) to our primary mortgage.  The balance on our primary mortgage is $98,800.  We want very  much to reduce the mortgage to $90,000 by the end of the year.   Ah.... No.  There has been minimal extra sent to the mortgage company.  Boo! 


Below is what I thought I could magically do with the money in our budget.  Not gonna happen.


  The amount of extra or redirected money need to accomplish these goals for 2013 is

credit card debt  4500.00
gifts                     1200.00
vacation              2000.00
mortgage extra  7000.00    (or $580.00 extra per month)
TOTAL             16,500.00


Here is the revised, what has a better chance of happening :)  
 

credit card debt      350.00
gifts                        1200.00                     
vacation                  2000.00              
 mortgage extra    2000.00   

Roth                         1200.00
Savings                    2500.00                    
                                 9250.00
 

So, it is okay to readjust your goals.  Sometimes what you think should happen, well, reality gets in the way and opens your eyes to what will probably happen.

That is not to say that in a couple of months things won't change again.  Because they might.  But this is what we are going with for now. 

Debt Update

 This month is just flying by, isn't it?  There is so much to do as the holidays sneak up on us.  With a crazy busy work schedule ( not complaining, very grateful in fact!)  I am geting up a little earlier each do to accomplish small tasks.  and how is that working you ask?  Not well, not well at all.  


Since I am behind on some of my task around the house, I am hiring my oldest's son's girlfriend ( who is currently unemployed waiting to have knee surgery) to clean my house tomorrow.  She is a great worker and will no doubt do a great job.  But this morning I have been going around the house and picking up "stuff" so she does not think we are total slobs! 

If the house cleaning works out, I am going to talk to her about working for me listing things on eBay.  I have a closet full of stuff that needs to get listed and if she can list for a couple of hours that will definitely help.  

DEBT UPDATE:    We have been working hard to get rid of our credit card debt but these last two months have had a few unplanned expenses.  Immunizations for my job, professional dues for my career/job, car repairs, AC Repair at rental house,  husband's uniforms..... and the list goes on! 

But..... I am thrilled to say that we are chiseling down our credit card debt.  As of the 1st of November our balance is $4500.00!!   Now the goal is to keep it there and not incur too much more debt through the holidays!

 

  Subscribe by Email ~ Subscribe by RSS ~Follow on Pinterest ~ Follow on Twitter

Just When You Think You Are Getting Ahead....

It must be our turn.  This week has had a lot of extra unexpected expenses, and the week is not even over yet.  It started on Monday.  Our renters called and said that the fan was not working on the AC.  So my husband went over there last night after work and had a look at it and figured out it was the blower motor on  that was bad.  So he went to the Supply house and was able to find a replacement and install the new motor. Cost for parts:  $442.00.
 Boo!!


The plus side is that my husband is an AC tech and was able to fix the unit himself.  We probably actually saved another $400.00 in labor because he was able to do it himself.  Now the renters say the dishwasher is acting up and I REALLY need to find the extended warranty for it. I use to be more organized and knew where things were.  Now, not so much.


For my job at the college I have incurred some more unexpected expenses.  Since I go to different hospitals to visit the students, the hospitals require that we have ALL of our shots updated.  This includes MMR, Chicken Pox, Flu shot, and a PPD.  I am almost done getting all my shots and so far I have spent $400.00 getting them updated and documented.  The cheapest I could find is through the local county health department.


That is about it.......for now.  I know that things do happen and we are just going to go with the flow.  What bugs me is that these unplanned expenses are SLOWING down the progress of paying off our Credit Card Debt!  We will just have to be patient and keep plugging along.

Hope you all have a great Thursday!

 Subscribe by Email ~ Subscribe by RSS ~Follow on Pinterest ~ Follow on Twitter

Our Debt

Over the last month, we were blessed to receive $3000.00 from a family member, a refund or a return of our money in the amount of $1000.00 from the mortgage company... and we have been working extra hard to throw extra money towards the debt. 


RECENT CREDIT CARD DEBT PROGRESS 

  August 22, 2011   11,600.00  Credit Card #1

 October 20,2011   13,055.68  Credit Card #1

November 16,2011 12,124.00 Credit Card #1 

December 3, 2011  11,608.00  Credit Card # 1 

December 29, 2011  10,913.00  Credit Card #1

 February 26, 2012   7900.00    Credit Card # 1

September 1,2012   10,042.00  Credit Card # 1

October 1, 2012        5600.00    Credit Cart #1

I am looking forward to report an even bigger reduction in the credit card debt in the coming months.  




Subscribe by Email | Subscribe by RSS | Follow on Twitter

Spending Report: September 2012 week 1

This week has been going smoothly with regards to spending and keeping track of where the money is going.   It actually feels pretty good to know where the money is going and how much I actually have on hand.  It was not always like that :)


Monday:    Target    42.00    Grocery
                 Target    21.00     Labor Day Picnic



Tuesday:      Aldi           29.65
                    Publix:     110.00   includes personal care items shampoo
                                           
                    Gas:         10.00

Wednesday:  Gas:        56.00



Thursday: 

                                   Misc:        6.00     Toy for Grandson
Operation Christmas Child        9.00


Friday:       No Spend!  woo hoo!!

The grocery category is a little high at  152.00.  I did budget 600.00 for the month ( and yes that is high) but we did not eat out one time this week!!  We both took our lunches to work and there were no drive thru dinners.   We may treat ourselves to a dinner out this weekend, but that is okay.

Gas  is a necessary expense.  I budgeted 500.00 for the month and so far we have spent 66.00 and my husband still has to fill up his truck today.  I think this category is going to be a close one. 

What is the best way for you to keep track of your spending?  Do you feel more in control when you do track your spending? 


Subscribe by Email | Subscribe by RSS | Follow on Twitter

Sunday Afternoon, planning for next week

 After a busy morning at church, It is almost a given that Sunday afternoon will include a quiet and peaceful Sunday afternoon nap.  This time of the week is the winding down of a busy week and time to mentally prepare for the week ahead.

movie theater sign in Celebration

Last week included  a visit with family and friends.  Wednesday I had the opportunity to have lunch with a second cousin that I have never met before.  She is moving to Orlando to get her Master's in education at the University of Central Florida.   Maddy is from Wisconsin but has lived in Florida and works at Animal Kingdom as a  driver/narrator and talks about the animals. I was in Celebration on Wednesday (work related) so we met up for lunch and had Sushi at a restaurant in downtown Celebration.  It was nice to meet Maddy and catch up on what her side of the family was up to.

That evening, I was invited to a friend's house for a Girls Night Out get together.  I have known this friend since I was 10.  We were in elementary school together ( for both fifth and sixth grade) and we went to Junior High together as well as High School. 

Junior High Volley Ball I am holding ball, Loretta in behind me (my left shoulder) with long brown hair.

  I have not seen Loretta since we graduated High School some 34 years ago.  And you know,  we spent some time catching up and after that it was like we were back in high school and no time had passed at all.  We had a great time, I was able to meet some of her friends, we played games and talked the night away.  I cannot wait until we can do it again!

This week coming up,    I will be more conscious of my spending.  For the last several months, that definitely has not been the case.  But it is time to get back on track, (once I decide what that track should be) and monitor my cash flow more carefully.   The credit card debt is still hanging around and has fluctuated from as high as $14,000 to as low as $7500,00.    Today it sits somewhere in the middle at about $10,000.

After this chaotic, no job, tons of family drama  kind of year, I think the debt could be so much worse.  Secretly I would love to cut this debt in HALF by the end of the year.  But that is all I will say about that.  I don't need Murphy to step in and start trying to make it interesting AND expensive.

I still stay busy with my ebay store  and sales have been pretty steady.  I love to hit up the thrift stores and search for treasures to sell.  When I am on the road at my new job, (mobile Ultrasound) I have the opportunity to go to different thrift stores which is a nice perk!

This week coming up I am challenging myself to only eat out twice.  This is an area that definitely needs work, and it is one small step to better budgeting and money management.  I will let you know how it goes!

Linking to Carla's Sunday Nite Chit Chat!

 

Subscribe by Email | Subscribe by RSS | Follow on Twitter

Update on the Stupid Credit Card Debt

Time to see the progress on the Stupid Card Debt.  After today's payment of $500.00, our balance is below $11,000.00  The new balance is $10,913.00.  

This is a huge improvement from when I seriously started to attack this credit card debt back on October 20,2011.  At the time the balance was $13,055.68.   Thus far we have reduced the credit card debt by $2142.00, and that has take a little more than two months.  

Our plans for this year are to eliminate the credit card debt.  This gives us 12 months.  In twelve months we will need to apply $910.00 extra dollars to the credit card to completely pay it off.  We can do this!! 

 And how can we do this you ask?  


Currently our living situation is different.  We are living with my parents because they both currently need supervision due to age and or health.  We are evaluating this situation on a monthly basis.  Upcoming decisions will be based on their health and ability to care for themselves.  




We still have monthly bills which include the following: 


Mortgage   877.00
Phone        183.00
Elec.           50.00 ( may be less, since we are not living there)
Ins.            128.00
Tithe          400.00
ING acct     65.00
                  1703.00


While we are caring for my parents, they are offering to pay for the groceries, gas and other incidentals.  I am no longer employed, since I gave up a recent teaching position to become a caregiver for my dad first, and now my mom.  This is significant since I no longer am receiving unemployment either.  We only have my husband's  income.     When my mom returns home, we are going to have to discuss what I will be receiving in return for taking care of her and dad.  


This will be an awkward conversation, but I am sure we will be able to come to an agreement.   If not, financially I will definitely have to look for employment. But we will see how it goes. 

 Subscribe by Email | Subscribe by RSS | Follow on Twitter

Re-Visiting "The Stupid Credit Card Debt"

Around this time last month, I updated my Credit Card debt.  At that time, our debt was $13,055.68.  Since my layoff in August, it was evident that we were still charging a few things here and there.  Some of the items were for home improvement to update our new home.  Curiously, many of the charges were what I would call "entitlement" purchases.

 I would rationalize to myself that since I was working sooo hard, it just makes sense to eat out. Who wants to come home after a hard day at work and cook??  Obviously, not me!  And it was not just eating out that was part of the problem.   There was also  some random shopping that was going on.... You know... Target... Ross.....  more entitlement for me.  Certainly stuff that I did not need.  Ask me what I bought!  I could not even tell ya what most of the stuff was. 


Since my layoff, I have become acutely aware of where the money is going.  We have been using cash.  For practically everything.  True confessions... I still use my debit card, but not often.  And when I do use the debit card, I feel a little guilty.    Money can be so complicated, can't it? 


August 22, 2011   11,600.00  Credit Card #1

 October 20,2011   13,055.68  Credit Card #1

November 16,2011 12,124.00 Credit Card #1 

As of today, you can see our credit card debt total.  $12,124.00 

A reduction of 931.68 compared to this time last month.   Here is to an uneventful month financially.  ~~That means Mr. Murphy... you need to stay out of our business!!

 

Subscribe by Email | Subscribe by RSS | Follow on Twitter

Stupid Credit Card Debt

We have one credit card with a balance.Not just a little tiny balance, but a huge and evidently growing (slightly out of control) balance.    Just one active credit card should not be such a bad thing right?  OK, so I am a little self delusional.  Having one active credit card is definitely a bad thing.  I hate  that the balance is creeping up and up.  It is just plain annoying.

Payment Info Balance last statement (10/20/2011) $13,055.68 Minimum payment due $270.00 ayment due date 11/17/2011 Here is where we were PRIOR to my layoff in August 2011

Temporary Authorizations

11,6000 Credit Card #1
Zero Balance  Credit Card #2

11,600.00 Total ( August 22, 2011) Credit Card #1


9167.33 Credit Card # 1
4641.38 Credit Card # 2 PAID13,808.71 Total   ( July 4th, 2011)


The Stupid credit card debt is almost back to where it was before the big pay down.  The charges have been mostly for home repair and some unexpected car repairs.  And there are some random charges that should not have been made.  You know the ones: eating out, eating out.... and an all about me splurge at Target.  So... yes the Stupid credit card debt is almost back to where it was, and it does suck! But, seriously, I can only point the spending finger at myself and my husband...... oh yeah... and "Murphy". 

It is time to do better and not go to the credit card.  As of late, we have been paying cash for just about everything.  Time to step it up and be more accountable to myself and my husband.
The "Purchase Interest Charge" is not helping... we are paying 140.00 a month just to carry the Stupid credit balance.  Craziness. 


Confessing the debt is a bit of a relief.  Whew!.

July Goals Update

Time to check in and update my July Goals.  Previously my totals spent at the grocery store were 87.00.  That was about one week ago.  Since then, I have spent 35.00 at Aldi's,  75.00 at Publix, 50.00 at Target, and 20.00 at the convenience store.  Total amount spent so far is 267.00. Not too bad, but we still have 16 days left in July. I have 133.00 dollars left to spend on groceries.   

I have only listed 3 things on Amazon and Half.com.  Hoping to get more listed this weekend.  No bites so far. 

There has been no additional funds add to my credit card bill.  I am waiting for my last check and my check for remaining  vacation and sick days.  When that arrives, I will be able to make a payment to one of my credit cards.  In fact I did receive an offer for zero interest transfer to another credit card.  I am thinking of using that and saving on the interest accumulation.

Okay, So I Had This Idea.....

Does this happen to you?  Realistically, we all probably have very full plates when it comes to getting things done.  Some days you think that you cannot possibly do another "favor" for someone, you cannot pick up the cleaning at the cleaners...You are just done.  But, then in order to keep your sanity your mind is constantly going, different ideas are bouncing all around ( at least in my mind) and some point, you think you actually might have an idea that is pretty good.  Tell me what you think.......

I am going to to challenge ( yes.. another challenge... I just can't say no, even to myself:) I am going to challenge  myself to start selling AVON to pay down my CC debt (at least half) by Christmas.  AACCCKKK!   I sold AVON years ago, and did well.  It helped me pay some bills when I was in school for ultrasound.  Currently, I can't change jobs UNTIL we close on the Short Sale house.  My lender frowns on any significant changes in our sources of income, so I feel like I have to do SOMETHING!

Here is the plus side of starting back up in AVON.  Low start up costs!  Only $10.00 to get started.  So, I raided my change cup and counted out $10 in change (see above pic) and went down to the AVON store and signed up!  Things I have to watch out for..... Any signs that I will be my Best Customer.  I really have to keep that in check.  I don't want to waste money on stuff, instead of debts that need to be paid off.  The idea is to operate this business with LOW overhead.

Historically, I take on projects and go gangbusters!! And then the interest wanes and I get bored and quit.  I am pledging to commit to this personal challenge to reduce my Credit Card debt by half and I hope to do   will do just that! 

Of course, you will all be witnesses and will have the opportunity to keep me in check.  Advice and thoughts welcome.

Money Saving Monday Week 2 The Saved Quarter Challenge

This is week two of The Saved Quarter Challenge.  This week, Penny has suggested that we check our credit reports and see what our score is.  Also, if there are any negative remarks, investigate and post a rebuttal to that negative remark.  Our credit scores are in the high range.  We know this because we are in the process of buying a house, and the mortgage broker ran our credit reports.  He was very pleased that our numbers were in the upper range of good.  Later on today, I will further research my credit reports to see if indeed there are any negative remarks and respond to them.

Below is a breakdown of my debt repayment so far for this month. 
 
300 dollars
  12 dollars amazon
  60 dollars FSA reimbursement
372 dollars Total to my credit card


860 dollars husbands credit card
1232  dollars towards debt repayment


  CC DEBT: 12,123.00
  New Balance is 10891.00
  9 % of debt repaid


We have a ways to go to get that credit card debt under control.  But it is a start.

Budget BREAKdown

Here is a breakdown of our budget.  It is a constant work in progress.  

BASIC INCOME

ME:   BI-WEEKLY NET: 1300.00  MONTHLY INCOME:  2600.00

HIM:  WEEKLY NET:       500.00   MONTHLY INCOME  2000.00

                                                                                               4600.00

Our income can fluctuate.  Hubs will get overtime.  Me... on occasion, I do get overtime but not that often.  This is the basic breakdown of our budget... adjustments are always being made.


These monthly bills are pretty stable.  The electric bill does fluctuate, but I am currently on the average billing plan, so I do not get any surprises in the summer when the temp is 95 degrees. 
I have 4 cell phones on my plan... maybe by next year I can get that down to three cell phones. Everything is pretty self explanatory. 

MONTHLY BILLS

TITHE:    650.00

HOUSE:  870.00  

ELEC:     187.00

CELL:     209.00 (4 PHONES)

CABLE:  120.00

CAR IN  126.00

PHONE:   40.00

WATER:  20.00 

                2222.00 

The following are expenses that occur through out the year.  The money is automatically deducted from our checking accounts and deposited to our ING accounts. Our insurance changed at work (again) and we no longer have access to an FSA account.  In lieu of that, I am automatically deducting 100.00 per month to offset any medical expenses not covered by our insurance.  This will also cover co-pays and deductibles. 

Christmas did me in last year.  It is now part of our yearly budget.  Another category  I had to include is Gifts.  This will cover birthdays, showers, and so on.  Already this year I have been invited to two Baby showers!  Family Birthdays are starting up in February....


We do not escrow our taxes and insurance with our mortgage.  I wish we did, it would be easier.  So we have to fund that category every year as well. 


We have two dogs, and dogs have upkeep expenses. Shots, Flea drops...   Another category that we need to fund.

ING SAVINGS ACCOUNTS
 

FSA          100.00

XMAS       80.00

TAXES      84.00 

INS          100.00

AUTO      200.00 

PETS         50.00 
GIFTS       50.00

                 664.00

I hate paying tolls to drive to and from work.But, if not, I would spend a lot of time sitting in traffic burning fuel and not moving.  So I pay the stupid tolls.  Yeah... I really hate them.   

OTHER MONTHLY EXPENSES

TOLLS              80.00

personal             85.00

SAVINGS         50.00

GYM                 50.00

                         265.00

                         215.00

I still tend to blow my grocery budget every month.  That cuts into our eating out budget... so I guess it is covered.  Entertainment is necessary.  We don't always spend this, and I still need to figure in a category for clothes.

GROCERY        500.00

EAT OUT           200.00

ENTERTAIN     100.00 

                           800.00

I need to get my credit card payment to at least 1000.00 dollars.  I am 301.00 dollars short of that monthly goal.

TOTAL:             3901.00 

CC PAY:            699.00            

                          4600.00

Credit Card Debt Update

Well, Crap.  My plans to consolidate our credit card debt on to one "no interest for one year" credit card did not quite work out.  We applied on line two nights ago and were instantly approved.  I went to the website this morning to check the progress of the transfers, and I see that we were not approved for the amount requested.  And only half of the amount approved was available for balance transfer.  So, we decided NOT to complete the partial transfer and now we are moving on to Plan B.

Plan B is accessing the Bank of Mom.  Yes, in the past, my mom has offered to "loan" us the money needed to pay off the credit card debt.  We declined because ..... well,  we declined mostly because mostly of pride. I think we can swallow that pride now.  I am going to call her today and talk to her about it to see if the offer is still on the table.

Marriot Rewards

I charge everything. Why would I do that? I am building up my Marriott Rewards Points. Again, why would I do that? I love to travel! My husband and I are always looking for the next adventure and I use my Marriott Reward Points to "pay" for the rooms. I love Marriott and enjoy the heck out of staying there.

So, in an effort to build my points up, I charge everything I can on my Marriott Rewards Card. I keep track of what I charge in my small spiral notebook that is with me at all times. Then once a day or so I transfer from my bank account ( bill pay) to my Marriott Credit Card. I always round up the amount and pay ahead. Actually I do have a balance on that card from our bathroom renovation so the rounding up pays towards that balance.

In addition, I will still make my minimum payment of 30.00. This card is CC#2 and will be paid off after CC#1. Part of the snowball thingy that I am trying to implement.


37,686 points as of 3/19/2010 for my Marriott Rewards Points.