We spent a LOT of money yesterday. Especially for a no spend month, can you guess how much?
If you guessed $136, then you would be right.
I know, I know....please wipe that look of shock off your face. :)
You see, we also have another goal for this year: spend money on no more than 100 days. This is proving to be quite the challenge.
So, when Hubs said he wanted to take me to Texas Roadhouse for my birthday dinner, I knew I had to stop at the grocery store and pay the plumber (our water heater broke, and needed to be replaced).
That brings our total to $179/$250.
I knew our expenses would be slightly higher than our previous no spend month because my birthday with thrown in there, but I did not anticipate replacing the water heater.
Oh well, I am still quite hopeful that we will be near our $250 goal. It will be a challenge, but we plan to give it our best shot!
How are you doing on your no spend month? Am I the only one out there?
Showing posts with label finances. Show all posts
Showing posts with label finances. Show all posts
Tuesday, January 8, 2013
Friday, January 4, 2013
Blessings From A No Spend Month
Each and every time my husband and I do a no spend month, I am amazed at how blessed we truly are.
.......and another realization I have is, why don't I utilize this blessing each and every month?
Hubs and I received his paycheck this morning, so I paid/scheduled bills. His paycheck was smaller than normal. Huge bummer, but I began paying bills and was able to pay all our bills AND about $150 in addition debt. AMAZING!
God blesses you in great ways. Please do not waste/ignore the blessings he has showered upon you. I know that I will try my best to use the blessings I have received for Him!
Thursday, January 3, 2013
No Spend Month
We have entered our 3rd no spend month! YEAH!
Hubs and I have restricted our spending to no more than $250 for the month, which is only about 25% of our variable spending during any other month.
It will be a challenge, but let's see how we do!
Here is an update on the last couple of days, I will try my best to update daily...but, things do get a little crazy around here. :)
1/1 - $0
1/2 - $15 (ice cream sundae toppings, ice cream, cheeries, milk)
1/3 - $28 (christmas presents, bread, bacon, soda)
So far, our total is $43/$250. That number is higher than I would like, but....hopefully we will have no need to run to the grocery store for a while!
Although, I just remembered we are out of potatoes....oh well, meals will get creative this week! :)
Was the $43 ONLY for necessities, umm....no! But, I justify the expenses. The $15 was spent on an ice cream "date" with some good friends of ours (I fed 10 people ice cream sundaes for $15!).
Secondly, in order to comply with my goal for 2013, I have begun Christmas shopping with rewards/giftcards....all of which I got for free! I have purchased 4 gifts, so far, and I have only spent $0.40 on gifts. AWESOME! Oh, and I still have $29 in rewards/giftcards to spend on future gifts! I will be shopping!!! :)
And, the bacon is for my favorite Daddy! He loves bacon wrapped little smokies, and I am making him some for our Christmas get together this Saturday!
Are you doing a no spend month? Will you join me? It's not too late!
Hubs and I have restricted our spending to no more than $250 for the month, which is only about 25% of our variable spending during any other month.
It will be a challenge, but let's see how we do!
Here is an update on the last couple of days, I will try my best to update daily...but, things do get a little crazy around here. :)
1/1 - $0
1/2 - $15 (ice cream sundae toppings, ice cream, cheeries, milk)
1/3 - $28 (christmas presents, bread, bacon, soda)
So far, our total is $43/$250. That number is higher than I would like, but....hopefully we will have no need to run to the grocery store for a while!
Although, I just remembered we are out of potatoes....oh well, meals will get creative this week! :)
Was the $43 ONLY for necessities, umm....no! But, I justify the expenses. The $15 was spent on an ice cream "date" with some good friends of ours (I fed 10 people ice cream sundaes for $15!).
Secondly, in order to comply with my goal for 2013, I have begun Christmas shopping with rewards/giftcards....all of which I got for free! I have purchased 4 gifts, so far, and I have only spent $0.40 on gifts. AWESOME! Oh, and I still have $29 in rewards/giftcards to spend on future gifts! I will be shopping!!! :)
And, the bacon is for my favorite Daddy! He loves bacon wrapped little smokies, and I am making him some for our Christmas get together this Saturday!
Are you doing a no spend month? Will you join me? It's not too late!
Wednesday, December 26, 2012
Financial Success in 2013
I have been thinking a lot about our finances over the past few weeks, and feel more strongly than ever that we need to be completely debt free, including our mortgage.
Now, I know this isn't something that will happen quickly....but, we have a goal of having our 30 year mortgage paid off in 15 or less. Hopefully a lot less! :)
Anyway, while I have been strategizing ways to make this dream a reality, this question arose: How many "no spend days" can we have in one year?
I am going to challenge my family in 2013 to spend money on no more than 100 days (fixed expenses not included). Will you join me?
This includes groceries, gifts, clothing, etc. Basically, anything that isn't a bill (fixed expenses).
Trust me, you will force yourself to plan your meals, discover alternatives (for example, I was short one egg for banana bread the other day but I found an alternative online!), and in doing so.....you will spend less!
Do this exercise...bring up your bank statements for the last 3-6 months. Then calculate how many days in that time period you spent money. Once you have this number cut it by 1/3 or even 1/2....then adjust the number to apply to the entire year.
Everyone wants financial security, why not take steps to make 2013 the best year ever (financially speaking, of course). :)
Image was found via Google at this location.
Tuesday, July 17, 2012
Reducing Your Energy Bill
We moved into our house almost a year ago, and over the last year I have been doing everything in my power to reduce our energy bill.
When we first moved in, we signed up for the budget program through Alliant Energy. We didn't know exactly what it would cost on a monthly basis, and wanted to be sure we allotted enough money in our budget. The customer service representative informed me that the average energy usage was $194/month. Okay, so...that was our budget, and our "starting line".
Over the last year, the following tips helped us save a LOT of money (I will share the exact number shortly).
- During the winter, we kept our house at 65...most of the time. We dressed warmly, and were totally fine. It wasn't difficult, and my kids didn't mind at all. My husband complained the most, but I would just throw a blanket at him and call it a day. :)
- When Spring arrived, Hubs turned off the gas to both our fireplaces. This saved us $10/month.
- And finally, during the summer we ONLY (unless we are having company and using our main level) use our air conditioner at night. We lower the temperature to about 68 from 12a-9a. Typically, electric companies charge more for electricity during "peak" hours (i.e. when everyone is using electricity)....so, we try to use energy during "off hours". We also do most of our laundry and running of the dishwasher after 9pm.
So, after doing the above 3 things for the last year we have reduced our budgeted billing to $153/month. But, last month...using the AC pretty much all month, our total was only $125. I expect our energy bill to continue to go down, and I can't wait! :)
How do you save money? What steps have you taken to lower your energy consumption?
Extra Information: Our ranch home is approximately 3200 square feet, and was built in 1999. We also use "common knowledge" tips, like turning lights off when not in use, etc....which I didn't feel like reiterating to all your smart people. :)
Image was found via a Google search.
Image was found via a Google search.
Monday, April 16, 2012
Practice What I Preach
Just about a year ago, my husband and I announced that we were consumer debt free! The only debt we held, at the time, was a student loan (that I swear will never be fully paid off!). Anyway, since last April we relaxed a bit with the budgeting, what a BIG mistake.
We have acquired $1500 in credit card debt (I know, right! I feel horrible.), and we now also have our mortgage (which feels GREAT!).
Each month I keep thinking to myself, "where is all the money going?"....so, I finally decided to practice what I preach. I worked to organize the last 6 months of our expenses into categories to see what we were ACTUALLY spending....nearly fainted at the numbers, and then created a plan.
The crazy thing? During this period of time of little to no tracking of our expenses, I was creating these actual spending sheets and budgets for friends and family! How hypocritical of me, I should have been on top of our spending before giving other people advice.
Anyway, thankfully we are back on track and have a plan to repay all debt by the end of the year, and I have been EXTREMELY diligent with tracking our spending since my initial discovery of our finances last week.
Does your family budget? Do you need help setting up a budget? I hope be happy to help. Simply e-mail me @ jennifer.overy@gmail.com and I will either do it for you (obviously with your involvement), or guide you in setting up the tracking sheet, creating a debt reduction timeline, and a monthly budget.
What are your financial goals?
We have acquired $1500 in credit card debt (I know, right! I feel horrible.), and we now also have our mortgage (which feels GREAT!).
Each month I keep thinking to myself, "where is all the money going?"....so, I finally decided to practice what I preach. I worked to organize the last 6 months of our expenses into categories to see what we were ACTUALLY spending....nearly fainted at the numbers, and then created a plan.
The crazy thing? During this period of time of little to no tracking of our expenses, I was creating these actual spending sheets and budgets for friends and family! How hypocritical of me, I should have been on top of our spending before giving other people advice.
Anyway, thankfully we are back on track and have a plan to repay all debt by the end of the year, and I have been EXTREMELY diligent with tracking our spending since my initial discovery of our finances last week.
Does your family budget? Do you need help setting up a budget? I hope be happy to help. Simply e-mail me @ jennifer.overy@gmail.com and I will either do it for you (obviously with your involvement), or guide you in setting up the tracking sheet, creating a debt reduction timeline, and a monthly budget.
What are your financial goals?
Tuesday, September 14, 2010
The Overy Family Financial Tips
Many of you have been asking me about the steps we have taken to get out of debt.
Believe me, it has not been easy. And it is still a journey we are dealing with each and every day.
We have gone through our entire marriage with very few frivelous purchases, and we think long and hard before we buy ANYTHING.
Now, don't get me wrong. We do go out for dinner about once a week....and our children (and even ourselves) want for very little. We have a good life.
So, here are the Overy Family Financial Tips:
Tip #1 - Before even spending a dime from our paycheck, we pay bills. I make sure to leave enough of the paycheck out for groceries and other necessities if our bills exceed our available funds, but otherwise all money goes to bills. If we have more money than bills, we might use this for something fun, but this rarely happens. Right now, all extra money is going toward our kids birthday and Christmas.
Tip #2 - One of the biggest "tools", if you will, that helped me understand debt and how much something really costs is to equal the item to the amount of hours needed to work in order to pay it off. For example, my husband wants this video scope thingy (which he swears will help him with his job, however I think he just wants a cool tool). The cost of this "cool" scope thing, $250. So, I took the $250/his hourly wage, and guess what? He would have to work 18 hours in order to pay for this ONE item! To me, not worth it. Another example for all you females. There is this pair of jeans....that I REALLY want (and might get, because I only have 1 pair of jeans....but, that is not the point) will cost us 3 hours of work. That makes me choke a little. I have a hard time spending money when I think of our expenses in this manner.
Tip #3 - Use cash. It really helps.
Tip #4 - Leave your credit/debit cards at home. I have often found myself, when using cash, saying "well, if I go over I will just put in on the debit card and replace it with the cash when I get home." Well, that way of thinking gets you no where. We just end up spending more money than necessary, and because of that taking money from our savings. Not a good thing.
Well, that's all I have for today. If I think of any more useful hints I will be sure to let you know! :) I hope this helps you on your journey to becoming debt free, and living within your means.
Believe me, it has not been easy. And it is still a journey we are dealing with each and every day.
We have gone through our entire marriage with very few frivelous purchases, and we think long and hard before we buy ANYTHING.
Now, don't get me wrong. We do go out for dinner about once a week....and our children (and even ourselves) want for very little. We have a good life.
So, here are the Overy Family Financial Tips:
Tip #1 - Before even spending a dime from our paycheck, we pay bills. I make sure to leave enough of the paycheck out for groceries and other necessities if our bills exceed our available funds, but otherwise all money goes to bills. If we have more money than bills, we might use this for something fun, but this rarely happens. Right now, all extra money is going toward our kids birthday and Christmas.
Tip #2 - One of the biggest "tools", if you will, that helped me understand debt and how much something really costs is to equal the item to the amount of hours needed to work in order to pay it off. For example, my husband wants this video scope thingy (which he swears will help him with his job, however I think he just wants a cool tool). The cost of this "cool" scope thing, $250. So, I took the $250/his hourly wage, and guess what? He would have to work 18 hours in order to pay for this ONE item! To me, not worth it. Another example for all you females. There is this pair of jeans....that I REALLY want (and might get, because I only have 1 pair of jeans....but, that is not the point) will cost us 3 hours of work. That makes me choke a little. I have a hard time spending money when I think of our expenses in this manner.
Tip #3 - Use cash. It really helps.
Tip #4 - Leave your credit/debit cards at home. I have often found myself, when using cash, saying "well, if I go over I will just put in on the debit card and replace it with the cash when I get home." Well, that way of thinking gets you no where. We just end up spending more money than necessary, and because of that taking money from our savings. Not a good thing.
Well, that's all I have for today. If I think of any more useful hints I will be sure to let you know! :) I hope this helps you on your journey to becoming debt free, and living within your means.
Friday, April 16, 2010
5 Question Friday!
Good Mornin' folks :). How are you doing? Any exciting plans for the weekend?
It is once again Five Question Friday, and since I haven't participated in a couple weeks, I thought I would just jump right in. :)
1. What words do you use on your blog/online that you don't use in real life?
Very interesting question. I can't really think of anything.
I am all about being true to yourself, and acting the same in any given situation. When I was a teenager I would act differently depending on where I was.
I had a personality for church, school, work, home, hanging out with friend.....etc. Whew, it was a lot of work. :)
I guess I should say that I don't use "words" like: lol, irl, jk in real life.
2. Do you still write checks?
Yes! I love to write checks. I am not sure why I love it, but I do.
Plus, I totally don't understand our current banks on-line bill payer. My old bank was super easy, but this one....not so much.
3. Who was your favorite President and why?
Ooh, very good question.
Abraham Lincoln is the first that comes to mind. He truly had a heart for the people. Even thought he had a very difficult home life, he was looking out for the well-being of others.
I have this wish that Glenn Beck will run for President, much like Robin Williams did in "Man of the Year". If he becomes President, more than likely, he will become my favorite "current" President.
4. Are you a yeller?
In a negative way I would have to say no. If I have told Jackers to get out of the kitchen a million times by the end of the day I might yell. Well, I wouldn't really say it is yelling so much as raising my voice.
I yell when I am playing with Jackers....obviously in a positive way. He loves when I chase him around the house.....and yell "I'm gonna come and get you!".
5. Have you ever dumpster dived?
No, eeew!!! That's disgusting. I will never dumpster dive, unless my kids (and Lord help me if they do) decide to "explore" the dumpster and I have to go rescue them. Yuck!
So, I think that you should join in on the fun! If you have a blog, create a post....and if you don't, no worries. Just leave your answers in the comment section. :)
Happy 5 Question Friday.
It is once again Five Question Friday, and since I haven't participated in a couple weeks, I thought I would just jump right in. :)
1. What words do you use on your blog/online that you don't use in real life?
Very interesting question. I can't really think of anything.
I am all about being true to yourself, and acting the same in any given situation. When I was a teenager I would act differently depending on where I was.
I had a personality for church, school, work, home, hanging out with friend.....etc. Whew, it was a lot of work. :)
I guess I should say that I don't use "words" like: lol, irl, jk in real life.
2. Do you still write checks?
Yes! I love to write checks. I am not sure why I love it, but I do.
Plus, I totally don't understand our current banks on-line bill payer. My old bank was super easy, but this one....not so much.
3. Who was your favorite President and why?
Ooh, very good question.
Abraham Lincoln is the first that comes to mind. He truly had a heart for the people. Even thought he had a very difficult home life, he was looking out for the well-being of others.
I have this wish that Glenn Beck will run for President, much like Robin Williams did in "Man of the Year". If he becomes President, more than likely, he will become my favorite "current" President.
4. Are you a yeller?
In a negative way I would have to say no. If I have told Jackers to get out of the kitchen a million times by the end of the day I might yell. Well, I wouldn't really say it is yelling so much as raising my voice.
I yell when I am playing with Jackers....obviously in a positive way. He loves when I chase him around the house.....and yell "I'm gonna come and get you!".
5. Have you ever dumpster dived?
No, eeew!!! That's disgusting. I will never dumpster dive, unless my kids (and Lord help me if they do) decide to "explore" the dumpster and I have to go rescue them. Yuck!
So, I think that you should join in on the fun! If you have a blog, create a post....and if you don't, no worries. Just leave your answers in the comment section. :)
Happy 5 Question Friday.
Thursday, April 8, 2010
Review of March Budget Goals
Goals for the month of March
- Keep $500 in savings. Nope, but we spent it on debt reduction.
- Stay current on all bills. Complete! :)
- Create my "debt repayment time-line". Done!
- Save money, as much as possible (at least $1000)
- Update budget.
- Use only cash for our everyday expenses.
What are your financial goals? How did you do last month (or over the last several months, like me)? Good luck!
Review of March Goals
We are in the fourth month into 2010! Time is flying, seriously I can't believe it.
Sorry I didn't post this at the beginning of the month. I thought about it, I really did. I just never got around to updating my goals.
Anyway, here is how March turned out.
Relationship Goals:
Go on at LEAST 4 dates with my husband (a date means without the kiddos....yikes! And not on a "holiday").
I don't think we went on any dates this month. But, that okay because we are well on our way to meeting our goal for the year. 3/4 dates completed! :)
Be better about communicating.
Awesome! We spend some time talking about Z's past relationship with his former fiance. It was difficult for me to listen to even more details of the story, but it was good for our relationship. She hurt him so badly, and even to this day it still effects our relationship.
"The Days of A SAHM" Goals:
Post at least 20 times a month.
Yep, yep, yep! I posted so much, you guys are probably tired of it! :)
Host more giveaways.
The Vintage Pearl was a fabulous giveaway last month, and I have a couple more in the works!
Personal Goals:
Read more often.
The only thing I read is blogs. Seriously, I haven't opened a book in the long time. I spend hours reading a day, but it is usually in front of the computer or on my phone.
Keep my car clean.
Complete! I have been doing really well with this, even though it might surprise those of you who know me. I am in the process of writing a post about how I am organizing my vehicle.
Spend one on one time with each of my children.
My husband and I have been doing a better job about switching off the duties with each of the children. Usually I have Jack, and he has Ady...but, we are trying to switch it up so each child gets some time with the other parent. Not that I don't see/talk to the other child, but we just focus our attention on the one child for an hour or so a night. Otherwise it is "group" play. :).
Financial Goals:
Stick to a budget.
We are still caught up on bills, but we no long have our savings cushion. :( It killed me to use it, but it was in our best interest. We were able to settle with a credit card company for significantly less than we owed, so we jumped at the chance to eliminate one of our credit cards.
Don't acquire any additional debt.
Accomplished!
Create a time line for debt reduction.
Done, you can view it here. However, it will be changing soon because we are getting rid of the truck! I am so excited!!!! That frees up a LOT of money each month.
The reason we didn't get rid of it before is because Z needs this truck for work, but APX is now providing him (and all their technicians) with new vehicles. (He is excited!) Anyway, we have no need for three vehicles. So, we are getting rid of the truck!
Weight Loss Goals:
Exercise at least 3 times week.
Nada.
Keep a daily food journal.
Nope.
Drink at least 64 oz of water a day.
Haha!
Stop telling myself that I will "start tomorrow".
Currently telling myself this....
Keep myself accountable by posting regularly, and not justifying my actions.
No, no, no.
How are you doing with your goals for 2010?
Sorry I didn't post this at the beginning of the month. I thought about it, I really did. I just never got around to updating my goals.
Anyway, here is how March turned out.
Relationship Goals:
Go on at LEAST 4 dates with my husband (a date means without the kiddos....yikes! And not on a "holiday").
I don't think we went on any dates this month. But, that okay because we are well on our way to meeting our goal for the year. 3/4 dates completed! :)
Be better about communicating.
Awesome! We spend some time talking about Z's past relationship with his former fiance. It was difficult for me to listen to even more details of the story, but it was good for our relationship. She hurt him so badly, and even to this day it still effects our relationship.
"The Days of A SAHM" Goals:
Post at least 20 times a month.
Yep, yep, yep! I posted so much, you guys are probably tired of it! :)
Host more giveaways.
The Vintage Pearl was a fabulous giveaway last month, and I have a couple more in the works!
Personal Goals:
Read more often.
The only thing I read is blogs. Seriously, I haven't opened a book in the long time. I spend hours reading a day, but it is usually in front of the computer or on my phone.
Keep my car clean.
Complete! I have been doing really well with this, even though it might surprise those of you who know me. I am in the process of writing a post about how I am organizing my vehicle.
Spend one on one time with each of my children.
My husband and I have been doing a better job about switching off the duties with each of the children. Usually I have Jack, and he has Ady...but, we are trying to switch it up so each child gets some time with the other parent. Not that I don't see/talk to the other child, but we just focus our attention on the one child for an hour or so a night. Otherwise it is "group" play. :).
Financial Goals:
Stick to a budget.
We are still caught up on bills, but we no long have our savings cushion. :( It killed me to use it, but it was in our best interest. We were able to settle with a credit card company for significantly less than we owed, so we jumped at the chance to eliminate one of our credit cards.
Don't acquire any additional debt.
Accomplished!
Create a time line for debt reduction.
Done, you can view it here. However, it will be changing soon because we are getting rid of the truck! I am so excited!!!! That frees up a LOT of money each month.
The reason we didn't get rid of it before is because Z needs this truck for work, but APX is now providing him (and all their technicians) with new vehicles. (He is excited!) Anyway, we have no need for three vehicles. So, we are getting rid of the truck!
Weight Loss Goals:
Exercise at least 3 times week.
Nada.
Keep a daily food journal.
Nope.
Drink at least 64 oz of water a day.
Haha!
Stop telling myself that I will "start tomorrow".
Currently telling myself this....
Keep myself accountable by posting regularly, and not justifying my actions.
No, no, no.
How are you doing with your goals for 2010?
Tuesday, March 23, 2010
Ugh, life!
Why does following the rules have to be so difficult?
In this particular instance, I am talking about finances.
Why, when my family and I are trying to follow the rules, are we punished?
We get fees upon fees, phone calls...etc. etc. etc. We are doing our best people, and would love to work out some agreement with you.
Just this morning I offered a credit card company a guaranteed $100 a month (and probably more) if they would be willing to stop giving us over-limit fees, etc....and they said no.
I asked him whether they would like to get the amount that I am offering or nothing at all (threatening bankruptcy)....and guess what they said? They would rather us file bankruptcy than work with us.
There has to be something wrong with that.
I am very much of the mentality, "I will teach you to fish, rather than feed you a meal"....so, bankruptcy isn't something I would ultimately want to do....but, at this point I am ready to give up.
Why is bankruptcy so easy (and a very appealing option, lol....who wouldn't want to get rid of there debt)? I feel as if we are being punished (but not really because it is our debt) for trying to fulfill our agreements.
Ugh, life!
In this particular instance, I am talking about finances.
Why, when my family and I are trying to follow the rules, are we punished?
We get fees upon fees, phone calls...etc. etc. etc. We are doing our best people, and would love to work out some agreement with you.
Just this morning I offered a credit card company a guaranteed $100 a month (and probably more) if they would be willing to stop giving us over-limit fees, etc....and they said no.
I asked him whether they would like to get the amount that I am offering or nothing at all (threatening bankruptcy)....and guess what they said? They would rather us file bankruptcy than work with us.
There has to be something wrong with that.
I am very much of the mentality, "I will teach you to fish, rather than feed you a meal"....so, bankruptcy isn't something I would ultimately want to do....but, at this point I am ready to give up.
Why is bankruptcy so easy (and a very appealing option, lol....who wouldn't want to get rid of there debt)? I feel as if we are being punished (but not really because it is our debt) for trying to fulfill our agreements.
Ugh, life!
Friday, March 5, 2010
Paying off Debt
We paid off CC #2 today! We were able to settle with the company for about 60% of what we owed! So, I am very excited....to say the least.
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC #1: Goal of 13 months, estimated pay off date Apr. 1st, 2011.
CC #2: Goal of 15 months, estimated pay off date June 1st, 2011.
CC #3: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st. 2012.
So, here is our new repayment time-line!
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC#1: Goal of 13 months, estimated pay off date Apr. 1st, 2011
CC #3: Goal of 23 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
I know that it doesn't look like much, but we are getting closer!!! Let's hope we randomly inherit some money....wouldn't that be awesome?!?!
The downside of paying this off earlier is, we took away from our savings. We have only $250 in our "account"....but, we have plans to replace this in April when we will have an extra pay check. Please, hold me accountable!
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC #1: Goal of 13 months, estimated pay off date Apr. 1st, 2011.
CC #3: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st. 2012.
So, here is our new repayment time-line!
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC#1: Goal of 13 months, estimated pay off date Apr. 1st, 2011
CC #3: Goal of 23 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
I know that it doesn't look like much, but we are getting closer!!! Let's hope we randomly inherit some money....wouldn't that be awesome?!?!
The downside of paying this off earlier is, we took away from our savings. We have only $250 in our "account"....but, we have plans to replace this in April when we will have an extra pay check. Please, hold me accountable!
Wednesday, March 3, 2010
Debt Repayment Timeline
So, I told you I would post it...and here it is. It is going to take us forever, but hopefully the time will go quickly. Once we get that darn truck paid off we can throw all our extra money at our other debt. Yippee yeah!
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC #1: Goal of 13 months, estimated pay off date Apr. 1st, 2011.
CC #2: Goal of 15 months, estimated pay off date June 1st, 2011.
CC #3: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st. 2012
Truck Loan: Goal of 12 months, estimated pay off date Mar. 1st, 2011.
CC #1: Goal of 13 months, estimated pay off date Apr. 1st, 2011.
CC #2: Goal of 15 months, estimated pay off date June 1st, 2011.
CC #3: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
CC #4: Goal of 24 months, estimated pay off date Mar. 1st, 2012.
Student Loan: Goal of 24 months, estimated pay off date Mar. 1st. 2012
Tuesday, March 2, 2010
Budget Review/Goals
It has been an eternity since the last time I posted, relating to our budget. So, I thought I would take a stab at it.
Here is our old monthly budget ($2488.21/monthly):
And here is our "new" budget that we have been following for the last couple of months ($2,052.83/monthly):
Here is what I set as our goals, way back in October. Haha.
1. Stay under budget for groceries.
We have been doing pretty well with staying under a certain amount for groceries...however, there is always room for improvement.
2. Readjust budget to better suit our needs.
Paying off debt with our income tax return really helped our financial situation. Now, we just need to start throwing the "extra" money at our debt.
3. Find ways to increase our monthly income and reduce our expenses.
I continue to baby sit, making approximately $50 per week. But, otherwise we haven't increased our income by much. We are having a garage sale in April...so that will help.
4. Create a way to better understand our budget....do they make a "Creating a Budget for Dummies"? Haha.
Still don't always understand it, but I am getting better at sticking to it.
Goals for the month of March:
Here is our old monthly budget ($2488.21/monthly):
| Electric/Gas | $70.00 |
| Credit Card #1 | $15.00 |
| Car Loan | $174.00 |
| Truck Loan | $663.00 |
| Credit Card #2 | $21.00 |
| City Water | $32.00 |
| Credit Card #3 | $0.00 |
| Gas - Auto | $40.00 |
| Credit Card #4 | $39.00 |
| Groceries | $217.00 |
| Water - Sanitation | $14.00 |
| Internet | $19.95 |
| Car Insurance | $123.86 |
| Rent | $500.00 |
| Student Loan | $35.00 |
| Cell Phone | $88.59 |
| Totals | $2,052.40 |
And here is our "new" budget that we have been following for the last couple of months ($2,052.83/monthly):
| Electric/Gas | $121.00 |
| Credit Card #1 | $15.00 |
| Car Loan | $0.00 :) |
| Truck Loan | $663.00 |
| Credit Card #2 | $0.00 |
| City Water | $40.00 |
| Credit Card #3 | $0.00 |
| Gas - Auto | $25.00 |
| Credit Card #4 | $0.00 |
| Groceries | $300.00 |
| Water - Sanitation | $18.00 |
| Internet | $19.95 |
| Car Insurance | $123.86 |
| Rent | $500.00 |
| Student Loan | $38.00 |
| Cell Phone | $78.00 |
| Totals | $1940.81 |
Here is what I set as our goals, way back in October. Haha.
1. Stay under budget for groceries.
We have been doing pretty well with staying under a certain amount for groceries...however, there is always room for improvement.
2. Readjust budget to better suit our needs.
Paying off debt with our income tax return really helped our financial situation. Now, we just need to start throwing the "extra" money at our debt.
3. Find ways to increase our monthly income and reduce our expenses.
I continue to baby sit, making approximately $50 per week. But, otherwise we haven't increased our income by much. We are having a garage sale in April...so that will help.
4. Create a way to better understand our budget....do they make a "Creating a Budget for Dummies"? Haha.
Still don't always understand it, but I am getting better at sticking to it.
Goals for the month of March:
- Keep $500 in savings.
- Stay current on all bills.
- Create my "debt repayment time-line".
Sunday, January 24, 2010
Income Tax Return Solution
Thank you everyone who e-mailed/commented me! You had wonderful ideas ;o)
This is the solution we have come up with: Spend the bulk of our income tax return reducing our debt. Take approximately $500 to fix up my vehicle, and stash $1000.00 into a CD.
The point of the CD is just in case something happens. We don't have an emergency fund (savings account), so if something did happen with my vehicle we would not have a back up. So, this $1000 in the CD could be used in case of an emergency.
By doing this we will be reducing our month spending by $174! Yeah!
Do you think this is a good solution?
Update: You know that darn truck that hubs just has to have??? Well, we are finally to a point in our loan that we owe less than the vehicle is worth. YEAH! I thought that this day would never come.
This is the solution we have come up with: Spend the bulk of our income tax return reducing our debt. Take approximately $500 to fix up my vehicle, and stash $1000.00 into a CD.
The point of the CD is just in case something happens. We don't have an emergency fund (savings account), so if something did happen with my vehicle we would not have a back up. So, this $1000 in the CD could be used in case of an emergency.
By doing this we will be reducing our month spending by $174! Yeah!
Do you think this is a good solution?
Update: You know that darn truck that hubs just has to have??? Well, we are finally to a point in our loan that we owe less than the vehicle is worth. YEAH! I thought that this day would never come.
Thursday, January 21, 2010
Income Tax Return
Wow, it has been a while since I did a financial related post....but, here goes.
Most of you know our financial situation (I have been honest, some may say too honest....lol), so I pose this scenario for you.
Hubs and I will be getting back $xxxx.xx from the government in Feb/Mar (once we finally get our W2 from Hub's work), and we are trying to plan what to do with it.
See, my vehicle is a piece of junk! Seriously. The exhaust system needs to be fixed, it needs a new transmission, it has over 250,000 miles on it, and it really needs an oil change.
Anyway, should we spend a good portion of our income tax return on purchasing a newer vehicle for our family (one with less miles, or none would be nice, and larger to accommodate our family), or should we use this money to reduce our debt (also spending some money to fix up my vehicle so it is in proper running condition....at least to the best of our abilities)?
If we had a good credit score, I would say in an instant that we should just reduce our debt because if something happened to my vehicle we could get a loan for a different one, and then pay off the loan amount with the 2010 income tax return. But, we don't have a good credit score. I am pretty positive we would not qualify for any type of loan, and if we did the lender is stupid. Lol. Our debt to income is outrageous, and while we are working on reducing our debt...it is slow going.
So everyone, what should we do? Pay down debt, or purchase a vehicle? Thanks for all your help!
Most of you know our financial situation (I have been honest, some may say too honest....lol), so I pose this scenario for you.
Hubs and I will be getting back $xxxx.xx from the government in Feb/Mar (once we finally get our W2 from Hub's work), and we are trying to plan what to do with it.
See, my vehicle is a piece of junk! Seriously. The exhaust system needs to be fixed, it needs a new transmission, it has over 250,000 miles on it, and it really needs an oil change.
Anyway, should we spend a good portion of our income tax return on purchasing a newer vehicle for our family (one with less miles, or none would be nice, and larger to accommodate our family), or should we use this money to reduce our debt (also spending some money to fix up my vehicle so it is in proper running condition....at least to the best of our abilities)?
If we had a good credit score, I would say in an instant that we should just reduce our debt because if something happened to my vehicle we could get a loan for a different one, and then pay off the loan amount with the 2010 income tax return. But, we don't have a good credit score. I am pretty positive we would not qualify for any type of loan, and if we did the lender is stupid. Lol. Our debt to income is outrageous, and while we are working on reducing our debt...it is slow going.
So everyone, what should we do? Pay down debt, or purchase a vehicle? Thanks for all your help!
Wednesday, October 14, 2009
Sigh of Relief
So, I told y'all the other day that my husband's blackberry was broken.....well, he received his new one and some good news. His company (great company and I am so glad that he works for them) set it up so only $25 a week is taken out of our paychecks. So much better than taking the $150 out all at one time. Such a relief to my nerves, and less of a blow to our budget.
If you love the image you see above, just click here.
Saturday, October 10, 2009
October Budget Goals
There have been a few changes to our monthly budget, so I would like to post it below so you can see the differences. We are making approximately $2488.21 per month.
Here is our current monthly budget:
I am begging someone to make my budget make sense to me....how do we have less expenses to income, yet can't seem to make all our payments on time. I really need to be better about tracking our expenditures, and how much we are bring in.
Anyway, here are our financial goals for the month of October.
1. Stay under budget for groceries.
2. Readjust budget to better suit our needs.
3. Find ways to increase our monthly income and reduce our expenses.
4. Create a way to better understand our budget....do they make a "Creating a Budget for Dummies"? Haha.
What are your financial goals? How did you do last month? Good luck!
Here is our current monthly budget:
| Electric/Gas | $70.00 |
| Credit Card #1 | $15.00 |
| Car Loan | $174.00 |
| Truck Loan | $663.00 |
| Credit Card #2 | $21.00 |
| City Water | $32.00 |
| Credit Card #3 | $0.00 |
| Gas - Auto | $40.00 |
| Credit Card #4 | $39.00 |
| Groceries | $217.00 |
| Water - Sanitation | $14.00 |
| Internet | $19.95 |
| Car Insurance | $123.86 |
| Rent | $500.00 |
| Student Loan | $35.00 |
| Cell Phone | $88.59 |
| Totals | $2,052.40 |
I am begging someone to make my budget make sense to me....how do we have less expenses to income, yet can't seem to make all our payments on time. I really need to be better about tracking our expenditures, and how much we are bring in.
Anyway, here are our financial goals for the month of October.
1. Stay under budget for groceries.
2. Readjust budget to better suit our needs.
3. Find ways to increase our monthly income and reduce our expenses.
4. Create a way to better understand our budget....do they make a "Creating a Budget for Dummies"? Haha.
What are your financial goals? How did you do last month? Good luck!
September Goals Recap
This is how we did on our financial goals for the month of September. I would say that we did, okay. Of course there is room for improvement...however, we could have done a lot worse.
- Purchase all necessary items for Baby #2's arrival. I am going to say that this goal is complete. The only thing I need to purchase prior to her arrival is diapers (which of course is VERY important) ;o).
- Keep grocery budget under $217.00 for the month. We spent approximately $260 this month on groceries. While this is over our budget by $43, I feel pretty good about the amount we saved. We would have normally spent around $400 each month. I understand that reducing your budget is a process, and I hope to have this goal completed within the next month or two.
- Find additional ways to increase our income and reduce expenses. Our income has stayed about the same at this point, however my husband is scheduled to get a raise at the end of October, first part of November. We did however lower our monthly car insurance payment by around $23! Yeah for saving money!!!
- Get our bills at least 50% of the way caught up. Nope, yet again. We have not completed this goal. I had every intention of paying up all the bills with our next paycheck (since we will receive three in the month of October), however the replacement cost of the Blackberry is definitely putting a dent in our plans.
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