Sending hugs and prayers to our Saving Advice family located in Texas and Louisiana.

Please stay safe

Just checking in, I hope everyone is doing well, for me I’ve been trucking along.

We have another storm brewing, 🤦🏽‍♀️🙄, hopefully it passes us by. Yesterday I headed out to the store to pick up a few snacks, other than that I’m doing pretty well with hurricane supplies. Though today it appears as though the storm made a turn, I’m always thinking better safe than sorry, these things can shift at any moment.

Yesterday I paid $300 on the student loan, finally got the balance just under $6k at $5885. This is one of four loans, and I’m so happy to be tackling them finally. For September I’ll be able to pay about $1500 on it.

I also made my first mortgage payment after refinancing, I really want to pay extra on this loan but won’t start doing that until January. I’m thankful for the long term savings.

My emergency fund, finally hit the 6 months worth of expenses saved yesterday. I’m so excited about this, because I’m genuinely nervous about this virus and the impact on businesses. I’m working but we laid off a ton of staff, that we brought back but things look shaky.

I’m so thankful that I worked my butt off to pay off this debt. By doing so my expenses reduced and I was able to save. Rather than needing $2500 a month for expenses, I only need about $1200 a month. I did rounded up to $1500 to include groceries and miscellaneous stuff.

Separate from my EF that covers mortgage payments as well, I also have about 2 months of mortgage (including escrow) payments saved, and about $2k for home repairs.

Though I haven’t hit financial independence I have hit financial peace of mind.

I’m praying things turn around with this virus and economy. One thing I’ve learned, the stock market is not the economy.

In friends and family news, my friend lost her dad to COVID, this is the third person I know who had lost their lives to this virus. Another decided to take a family trip because they needed to get away, well, the entire family was diagnosed and fell very ill, the husband ended up in the hospital for a while, thankfully he’s still with us.

Stay safe everyone

I’ve been painting my kitchen cabinets and they’re turning out okay. First I learned, if the paint has streaks, use a sander, then it was use a sponge brush. Now I’ve removed the hardware. All in all, it’s coming out pretty good, and I’m happy I’m able to revamp my kitchen without paying a arm and a leg to do so.

This past week was slow, I completed a survey in that I earned $20 so I paid $20 towards the student loans. Next week is pay day, so I’ll be able to make additional payments.

I’m trucking along, paid $300+ last we on student loans and another $20 today.
I’m so happy to have finally started tackling these loans, two years it took for me to get here. Hopefully in two years they’ll be gone.

I want new cabinets and realized it’s a want not a need. I got SO to help me change the hinges since the cabinets were falling apart. I got some free chalk paint from amazon and started to paint the cabinets. So far I’ve done only one coat but they look great. I’m going to paint the hardware silver that way I don’t have to buy any. Over the next few days, I’ll add the additional coats.

Creating an office space was the best thing I could have done. I find that I’m more productive with work and my personal stuff. I’d like a loveseat sofa bed for the spare room/office but it’s no rush. Over the last few weeks I’ve been decluttering the house and it is truly making a difference.

This week I received two checks, one for my escrow from the previous lender and a refund from my attorney. I had asked her to hold on to the retainer a little longer in case my brother started up. Well the check came and it was almost $2k. I was surprised.

With both of these deposits and my payday savings I’m about $15 away from having 6 months of expenses saved. I guess things work out for a reason. Ii will up the side bar later

I’m pretty certain my escrow account will not be enough to cover taxes and insurance in November, so I’m saving my October and November side hustle checks to pay the difference. I do not want a higher mortgage payment.

Things are trucking along, after reviewing the budget, and making some adjustments, I’m able to pay $400 on my student loans Friday. I’ll be honest, I’m hoping this interest free savings continues, I’m making some serious progress on my loans.

As you all know I’ve been saving for a bedroom set, I took half of my saving a paid on my student loans, thinking I could save another $700+ by end of the year.

Well I get a call from my sister and her friend is selling a wood bedroom set. Though wood isn’t my first choice, if the price is $500 or less I’ll make it work. I’m going on Wednesday to look at it. Fingers crossed.

Well I looked at the loan docs and I’ll admit, I questioned the amount, it was explained; however I didn’t realize I didn’t understand until I got my statement. I consider myself pretty literate, however I guess not. Basically when the loan officer/broker told me that I was correct that the balance was the $109k she didn’t explain the charges. So I assumed that was what I was financing, lesson learned. I’m annoyed, only because I told her I felt like the process was being rushed, two, when communicating I think she deliberately played on my ignorance. I also received a gift card from here with a note that it was my application fee. I’m pissed because I questioned this and she told me it would be refunded after the closing, well she didn’t tell me it would be in the form of a gift card. Didn’t know I had to ask if this would be a check, gift card or cash.

I also received a huge check today for my escrow and taxes. I’ve put this in my EF account, contingent on the tax bill in November, I’ll use this to pay the bill, I’m almost certain I won’t have enough in my escrow account. What ever the balance is after taxes and insurance, I’ll pay down the principal.

Long run when I look at it and crunch the numbers, the overall savings is worth it. My break even is actually two years. I’ll start back paying an extra $100 on the principal.

Hello August!

I can’t believe we are eight months into the year.

On top of COVID, now we are dealing with a potential hurricane. I’m praying that this thing remains a tropical storm ⛈ , or at the mist a category 1 storm, I’m so over it.

Thankfully, I’ve been stacking up on supplies for COVID and hurricane season so I didn’t have to go out in that mess. The lines were crazy.

I called the SO, to see if he thought I should put up the plywood, he said no since it was a Cat 1 the day before and it looks as though none, except for one, of the neighbors are putting up anything either. We are getting some rain that’s it right now.

I received my statement from the new mortgage company and the balance owed is $10k more, not sure why so I’ll be calling them on Monday. I also received my escrow refund from the old company, that I’ll put in the bank. I have a feeling I’ll be billed in November and I want to make sure the money is available. I’ll tell you the truth, I was so tempted to take this money and pay off my lowest student loan, then save for November taxes and insurance. I also need to call my old mortgage company, I haven’t received my refund for my last payment.

Monday will be a busy day on the phone.

Since last week, I’ve been decluttering. I realize that I’m less productive with clutter, and I spend way too much money on junk, well I use to. Yesterday I found things that I had no idea I had, 2-3 of the same stuff. I trashed so much unopened makeup 💄 it was ridiculous. For each project, area I declutter, I’m throwing $5 into my challenge fund, so far I’m at $30. I tell ya it feels really good to get rid of junk. I vowed not to buy a thing until I use what I have.

I’m so sore from the bending, moving, stretching et cetera, that I might take today off and just relax; however, I really want this desk area/mini office finished.