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Archive for September, 2017

Rich People Don't Spend Their Money Foolishly

September 30th, 2017 at 12:24 pm

Rich people don't spend foolishly.

During our FPU class Dave Ramsey (DR) tells us rich people bargain on everything and that they don't spend their money foolishly.

So we went out to dinner with one of the fiancé's clients, who is what we refer to as rich. They invited us.

While we were at dinner, he kept hinting that we should order from the PB menu. This menu was the special. He'd mention that we could order what ever we liked, but recommend the PB menu. So after, several comments about ordering from the PB menu, we ordered from the PB menu. I couldn't help but laugh to myself, I thought about Dave Ramsey saying the PB menu gives you a 3 course meal and the others don't, what's your better choice? The PB menu. Why spend à la carte, when you get the same meal or better for less. I ended up with steak vs chicken.

When it came time to pay, again, our rich friend was smart about spending his money, he whipped out his coupon. Again I laughed to myself, thinking about DR comments, "rich people are rich because they don't spend their money foolishly."

As we headed out, our rich friend ask where did we park? The fiancé told him valet. He said, "okay we are over here in the garage."
Again DR words played in my head. The fiancé paid for valet ( $30). Normally I think it's about $10 but because he wanted to park the car in the front, he paid the extra $20. I simply reminded him that rich people are rich because they don't spend their money foolishly. Cost our rich friend $5 to park in the garage. While it cost us $30 and we are poor.

Moral of the story, don't spend your money foolishly attempting to impress others you won't meet or giving yourself a false sense of "richness."

Budgeting

September 30th, 2017 at 11:55 am

I know that I'm new to this whole budgeting thing, but I'm a little annoyed. I budgeted $20 for one baby shower scheduled for tomorrow and totally forgot about the one for today.

During my FPU class, we were told that it will take about 90-days to get things right but for some reason this just bothers me.

I'd budgeted paying an extra $25 on CC 2 and now have to shift those funds for a gift. I guess I should be happy that I had the money to shift, but the CC debt is driving me nuts.

Yesterday was my first no spend day, in I don't know how long. And it felt good.

Today I'm at the salon. I decided to get my hair done every other week vs. every week. This saves me close to a $100 a month. In between those weeks, I color my hair for about $5 vs $15 and I also relax my hair for about $11 vs $50. Makes sense to do it myself than to pay her.

Lastly on a different note, I researched what my salary should be for what I do without a degree and it's between $54k and $70k. Now with a masters and my certification that range increases significantly. I've gone to my new boss for a raise, he said to wait and see what my old boss recommends. He too agreed that we, the team, deserves a raise. So I'll wait and see. If the salary increase isn't between 60-65 I'll be back looking.

September 2017 - Spending by Categories

September 29th, 2017 at 02:06 am

Well it's the end of the month and I'm done with all my spending.

Tomorrow is pay day, and I have completed my zero balance budget for this pay date. First time ever doing such a thing. I'm also going to try the cash envelope system when it comes to spending. This too is a first timer. I'm actually excited about it.

So for September here we go!

Wages $3112.56



Total expenses $2669.89
Difference $442.67 (actually about $80 left, CC payment not included).

As you can see, hurricane supplies killed my spending. Ugh! At least most of the items (over 90%) I can use for dinner and snacks. The other items such as sterno, first aid kit etc can be set aside for next year.
I've placed this expense, on my calendar to start stocking up in January. Particularly when there are BOGO. Crazy!

Bank charges are the interest that I'm paying in CCs each month. And gift are lunch and pedis with the mentee as well has treating BF dinner.

One thing I noticed is that not all CC payments are included. I have to figure out when I run the MS Money report that all CCs are included.

Let's see how the next two weeks go.

Targeting Run

September 24th, 2017 at 06:48 pm

Sundays after church is my trip to Target 🎯. I have decided to buy meat that's on sale and create my meal plan from what I have purchased.

There was 1lb (93/7 ) ground beef for $1.89, this was with the $4 off coupon. The fiancé was with me chitchatting, that caused me to miss the cashier, not taking the $4 off one of the packages, so now I have to go back 😡.

We picked up Tyson chicken, 3lbs for $4.99 and a 12 pack of pork chops for $5.99. I'd say we did pretty good.

Today we started week 5 of Financial Peace University and the topic was on impulse purchases. Of course while in Target the BF made an impulse purchase🤦🏾‍♀️🙄
I explained to him that the extra $5 he spent on candy, we could have applied to the debt snowball.

Hopefully he'll get it

In need of recommendations

September 24th, 2017 at 01:29 am

Now that I'm back on track with paying down my debt, I absolutely hate spending money.

I was asked by a friend to mentor a young lady they're attempting to adopt. They're a great family and if I had a kid and something happened to me I'd want them to raise my kid, so I agreed.

The problem isn't the mentoring it's the money I'm spending. I really can't afford it. I need to plan so that we are not spending that much money.

Today's spending:
* Lunch $18.15
* Pedicures with tip $54
* Book store purchase $20.33

Well I can't include the bookstore purchase because, that was a local author's book that I'd promise to buy.

For me I can't afford $80 every two weeks so I need to look for some free activities.

Next week the museums here are free so we will go there, the city is starting movie nights that are also free, so we will start doing that kind of stuff. She's a tough kid because when you ask what she's interested in, her response was "nothing."

All in all, I do know it's for a good cause, so I'll just keep trucking along and try and find alternatives that are free. If you have any ideas please share.

Tomorrow is week 5 of Financial Peace University, I'm on track. I've completed my zero balance budget, debt snowball worksheet and read the material. I received the water and electric bill, I under budgeted by $6 but hey that's okay, next time around I'll just adjust.

Tonight, I'm meal planning. If I do this I'll stay with in my budget for food.

Saved $51 today

September 23rd, 2017 at 12:23 am

Today was a pretty decent day. The A/C was out at the office, they kept us there. Good thing no one died from heat exhaustion 🙄🤦🏾‍♀️
I hate being in a position where I feel like my job is more important than my health. But I'm still looking.

On a different note, no dining out so $6 saved. I washed my own hair today and that was another $45 saved. All in all I saved $51 today. Since I saved $51 today, I'll split the money saved and add $25.50 on CC3 and $25.50 to my savings.

Tomorrow I have my little mentee so I'll be looking for a nice restaurant with coupons; hopefully we can get a BOGO. I was thinking about pedicures but I need to find something else and less expensive to do.

That's it for now, have a great weekend.

Updates

September 21st, 2017 at 04:55 pm

Today was a busy day. I'm working from home today but am able to get some other things done well. I'm really feeling accomplished.

I've updated my side bar with the exception of my savings accounts.
I'm mad at myself because I put CC 2 back in my purse and charged it up again. But putting things on paper hit home for me.

Last night I worked on my first zero budget and it was a struggle but I completed the second one for the next pay date in half the time.
I also created my cash envelopes, so that I can stick to the budget, once it's gone it's gone.

Financial Peace University: Week 3

September 21st, 2017 at 02:38 am

Week 3 of the financial peace class and it was tough.
Well I'm actually behind due to the hurricane.

This was my first time ever creating a zero balance budget. But by doing so, it really put things into perspective. The idea of telling my money what to do vs it telling me is so rewarding.

I actually put everything on a spread sheet vs the paper method, that way each pay date, all I have to do is key in the budgeted amount, the formulas are already there to take care of the calculations.

It has sadden me to say that the fiancé has yet to participate, other than going to the class. I told him we are wasting our time planning a future when money is the number one reason for divorce as well as our problems. I can give you the tools but it's up to you. I've told him what he needs to do with his business as far as the mother not paying him, he refused to do anything. I signed us up for a class, in hopes to get things in order and he refuses to participate. There's nothing else I can do.

Tomorrow I'll review my spending thus far, create my zero balance budget for the next pay date, create my spending envelopes, balance my checkbook and update my sidebar.

For me blogging helped me out of debt the last time, I felt committed to the group. I know what to do but I think FPU will speed up the process.

All is well

September 16th, 2017 at 01:20 am

All is well, this has been one crazy week after Irma.

It's the middle of the month, and I wanted to check my spending. Hurricane supplies killed me, over $300 🤦🏾‍♀️🙄. Next year I'll definitely plan better.

The good thing is, half the stuff purchased ( e.g. Batteries, water proof containers, solar lights) can be used for years to come.

I'll be posting my mid month spending totals tomorrow.

Thanks for your prayers everyone

Irma Update #2

September 10th, 2017 at 10:24 pm

Though Irma is now in the Tampa Bay area (about 3 hours northwest of me) we are still experiencing a ton of rain and hurricane force winds. I'm on the east coast, Palm Beach County.

Our power flickered a bit but we haven't lost power. We lost one board of the patio fence but that's it. We're in constant tornado watch, that scared me, but we have the safe room set up and ready to go with supplies (e.g flash lights, water, food, pillows, blanket and radio).

We have cameras so we can look out side, the canal next to the house is filling up, hopefully it won't over flow.

I'll keep you all posted and thanks for your love, support and prayers 🙏🏾

Irma Update

September 10th, 2017 at 08:07 am

Hello all!

Just wanted to check in and let you know we are okay. We have button up the villa and have our supplies.

Irma is at the lower Keys here in Florida but we are definitely feeling it's impact in Palm Beach county. We are under tornado warning, please keep us in prayer

Preparing for Hurricane Irma

September 4th, 2017 at 10:12 pm

Preparing for Hurricane Irma is exhausting.

We were able to get our Hurricane supplies but I just feel like I need more. Having gone through, Andrew, Wilma, Francis, Jean and Katrina you just never know. You can be prepared but contingent upon what happens you're not prepared enough.

Please keep us in your prayers as we brace for these storms

Can't seem to balance

September 2nd, 2017 at 04:14 am

Trying to balance my checkbook and I'm off by $12.61. This is driving me crazy. I've checked and double checked, and still can't find the error. I also reviewed the beginning balance and I can't seem to find the error. I took a break, but really wanted to get into reviewing my transactions for the week every Friday.

For two days I have not dined out, I'm so happy. So I'll be adding $6 to the miscellaneous account ($2 for breakfast; $2 for lunch and $2 for dinner) for day one. I'll do the same on CC number 3 for day 2.

We had bought season tickets for college football game last year, with the tickets you get free wings, so Monday I'll dine in, order a Coke and go home. 😀