Home > Archive: December, 2019

Archive for December, 2019

Sinking Funds are Great!

December 28th, 2019 at 04:47 pm

I realized that I completely over budgeted/saved for my professional certification renewal. The fee to renew is $160 vs the $400+ I was thinking. $400 was the actual exam 🤦🏽‍♀️🙄.

I try to attend free events and listen to webinars for certification credits, but would really like to attend a convention. However; $2000+ for a convention is just not in my budget. My employer would reimburse me but my boss gives us such a hard time in that you feel so uncomfortable asking, it’s not worth the hassle.

Given that I over saved and also have the funds for my second renewal that’s due next year (I have two professional certifications), I’m going to change the saving amount from $25 to $10, per pay period. I’d still like to keep the cash on hand in case an event/training comes up that I’d like to attend and I’m not reimbursed by my employer. The good thing is, if I’m not reimbursed, I can use this has a business expense, since I have the consulting gig.

The goal was to hit $500 for the professional sinking fund and stop. Hopefully I’ll be reimbursed for the renewal and with the first pay check in January, I can stop outright, I’d hit my goal.

Meanwhile the extra $15 I’ll throw at the car sinking fund, since I’ve cleaned that baby out. But if I’m reimbursed the $169 and hit the $500 mark with the first paycheck in January, I can stop funding and add the extra $25 vs $15 to the car fund, to get that back up.

I’m so thankful that I found out about sinking funds. It actually, well for me, make saving so much easier. I prefer this method, rather than having one account for everything.

Though I didn’t meet my debt repayment goal for 2019, I’m still somewhat in the dumps about this, I’m also thankful for the sinking fund and the ability to pay cash for things, such as the legal bill, car repair, electrical repair etc. Who would have known I’d be back on my way to financial freedom.

Friday Updates

December 27th, 2019 at 05:22 pm

Well final cost to repair my car $776.26
The funds actually came out of the sinking fund that I save for car repair and a new car. I sort of feel defeated but I am thankful for being able to pay cash for the repair. I literally knocked my car sinking fund down to zero. I went ahead and got my headlights cleaned, cost was $80. It had become increasingly difficult to see at night. I’d tried the toothpaste remedy and other stuff but nothing cleaned them. Pray fully I can the get the sinking fund back up.

Today was pay day, and I wasn’t able to add extra to the CC 😢. So I’m feeling really down.

Needless to say, I socked away about $344 to sinking and emergency fund.
Added to my IRA. I almost changed the amount by $25 less, but opted not to. I need to stick with the plan, of bumping my IRA contributions every year.

I paid a few miscellaneous bills, and tithed. Today I’ll be stuffing my cash envelopes.

Next month is a better month. I should be able to throw about an extra $300 to the CC, and $400 to my car fund.

I set the bar high for 2020, the goal is to pay off $20k in debt. I know it’s going to be tough but if I keep a lean budget, blog so that I’m held accountable, I think, no, I know I can do it.

I’ve got to stay focus and determine as it pertains to paying down debt and saving. Though this year wasn’t too bad, I just feel like I should be further along

Merry Christmas 🎁🎄

December 25th, 2019 at 10:20 am

Merry Christmas everyone!

May your day be filled with joy.

Guess What? I Had An Emergency

December 22nd, 2019 at 08:49 pm

Thank goodness I did not use the emergency fund, my car broke down today. Cost $779.00. This will clean out my new car/maintenance fund.

Though I have a car fund, for maintenance/new car, I also have an EF. It felt good to have the money to pay cash to get my car fixed, and not touch my EF. I’m not happy about the cost but I’m thankful I’ve been saving.

This just reminded me you have to have a cushion

CC10 Driving Me Nuts

December 21st, 2019 at 10:40 pm

CC10 Is getting on my last nerves. I’m trying to figure out how to pay it off by December 31st.
I can take $5,000 out of the EF but I’d still owe $1200 and the EF would drop to $600 🙄🤦🏽‍♀️.

I’d really wanted this card gone by the end of the year and then I got hit with a legal bill due to my brother who thinks my dad was a millionaire.

With the side gig, I could have it paid off in about 5 months, paying about a $1000 a month. Then tackling the student loans in June.

I’m just so confused.

Quick Update

December 21st, 2019 at 01:05 pm

Hi all
It’s been awhile but I’m still trucking along.

These last few weeks have been super busy. Work has been crazy, we have one manager that everyone and I do mean everyone struggles with, including the CEO, who needs to be fired. I’ve somewhat made the recommendation but my manager, CEO, is quite sensitive to this. The woman has worked with her for 25 years 🤦🏽‍♀️🙄. The position is a $110k + a year that actually can be eliminated.

My side hustle is going great, they’re actually looking to expand in 2020. I have a really strong feeling they’ll be offering me a full time gig. I’ve decided if I’m offered the position, I’d negotiate two days there a week with benefits for $65k a year and keep my current job negotiating $65K a year for three days. Fingers crossed.

On the money front, thank goodness I saved and paid cash for Christmas. I spent more than usual, for the family game night. Reason being is because this time it was all on me. Usually the SO chips in, but he didn’t as much as he usually do. I paid the server and the photographer and that’s usually him. I’m not upset, just glad I’d budgeted for it. The sinking funds really do help. I bought Christmas gifts for my staff, nephews, and paid for game night all with my Christmas sinking fund. Not to mention, no stress.

Today I’ll be reviewing my cash envelopes, and updating my budget for January

Dryer and Electrical Issues

December 10th, 2019 at 11:41 pm

I’m so glad I followed my first mind.

I was having issues with the dryer. I called the repair guy because the SO never picked up the free one for me. Well I found out it’s not the dryer but the socket, there’s an electrical issue.

Cost to have the appliance repair guy out, $65 but at least I found out it was electrical and avoided a potential fire 🔥. I’m on the fence with this though, because the dryer isn’t getting hot. I’ll see what the electrician says, I’m nervous

The repair guy’s exact words to me as he showed me the plug 🔌 on the dryer was, “ I’m glad you had this unplugged, you could have had a serious issue.” The plug was burned and so hot he couldn’t even touch it.

I have an electrician, I’ll see if he can come out Friday, since I’m off. I’m also thankful, that I had the sinking fund for household repairs, though this is an inconvenience, I’m not frantic over how I’m going to pay for it.

Talk about scary.

Financial news, I’ve been so stressed at work that I’ve been dining out. Well I decided enough, buying breakfast is costly. Not sure why I allow these things to get to me, work that is.

I sold an item on Poshmark, making $7.05, can’t wait for this to hit my account.

I spent the afternoon getting my planner ready for 2020. The goal is to pay off CC10 by the first quarter of the year. Once that’s done, I’ll be tackling the student loans.

For me it’s peace of mind but I know most of you won’t agree but once CC10 is gone, the goal is the following
* $100 monthly to EF
* $100 monthly to IRA
* $100 extra monthly to mortgage
* $500 extra to student loan

After calculating everything, savings, expenses, I could actually add an extra $1000 a month to the student loans once the CC is gone. I’m feeling excited for 2020, we will see.


December 1st, 2019 at 03:43 pm

December is here, I can’t believe it.

Yesterday was a relaxing day, with a little activity. I switched out my fall decor for the Christmas decor, I’ll be finishing up decorating my Christmas tree 🎄 today.
I also did a little holiday cleaning, have to finish this up today.
The red decor will stay up until Valentine’s Day.

This morning I finished up my monthly consulting report for my side hustle, and created the invoice. This month I’m billing for $1300, $400 will go towards the training and I will make a total of $900. This is an extra $100 on top of my normal consulting services. The trainer charged me $400, I charged $500. I’m also going to let the owners know, that I’m interested in other opportunities in case they know of any other small businesses that will be needing my services. I also told my friend who is an accountant, he’s the one who got me the gig.

I’ll say this, I’m glad I got the laptop for the side gig, it really helped me out today.

Later today, I’ll review my November budget.

Hope everyone enjoyed their holiday.