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Saving & Debt Payments

May 27th, 2022 at 11:33 am

I received my $800 payment from my long-term client,  paid my tithes of $80 and I have $720 left. I plan on keeping $500 in my checking account and using $200 towards savings and debt.

 

I always struggle with how much to save, pay towards my snowball but for savings I decided to round up and for debt I decided to round down. 

 

So for today I will be saving or paying the below: 

 

$29.63 EF

$13.04 car fund

$16.96 baby EF 

$15 vacation fund 

$50 student loan

$68.59 mortgage 

$20 IRA 

 

I'm so upset that I won't be meeting my June goal of paying off my student loan; however, I have to remember that I came a very long way and by the grace of God I was able to do what I have done. Actually, the goal was to pay it off by December but I was doing so well that I thought jube would be the month. 

 

I think that when I get the settlement check rather than paying the September mortgage and the November HOA, put that money aside. My thinking is I should land a job/contract by then and the money saved I'll just throw it at my student loan. If I don't get a gig well at least I know I have the money. 

 

Seems like saving and paying debt is the story of my life. I can't wait to reach financial freedom. But is that such a thing? 

When It Rains It Pours!

May 19th, 2022 at 10:22 am

When it rain it pours. 

 

Yesterday I was able to get a used refrigerator. Well, my ex came by to help me put the old one out before picking up the new one. 

 

While doing so we found a copper line running from the refrigerator. I told him it had to be the ice maker. Well, he called his brother who is a handyman, and he tried walking him through how to disconnect by turning the water off. He (ex) couldn't find the valve and I told him several times to just leave it. I'll have the company (appliance store) to deliver and pay, they should know how to disconnect. 

 

Long story short, he called his cousin who walked him through, cousin is a plumber, and now I have no running water in the kitchen. I told him a 100xs to just leave it. Apparently, something is clogging the pipes. I really didn't want to be spending any extra money. I don't fault him because my dishwasher stop draining some time ago and my ice maker stop making ice so it was bound to happen but why now? I can't help but think if he had just left it alone as I instructed I would have water and a least when the appliance company came if the water had stopped I could pay the company to fix it right then and there.

 

More money being spent. Unbelievable  

Quick Update

May 18th, 2022 at 10:38 pm

Well, I paid the HOA and COBRA bills for three months. I paid two months on the mortgage because the website didn't update and I want to make sure my payments are applied to both June and July, before I pay August. 

 

I'm so glad I did this because I don't know what may happen as far as income goes. 

 

I also purchased a used refrigerator for $214 with tax. Thankfully my ex will pick it up for me, so there is no delivery charge. Though it's not the color I was looking for I'm glad I was able to get a good used one. 

 

I got the news that the payment for my settlement was received, after legal fees I'm expecting about $8500. I'm just going to save this money. 

 

I also saved a total of $433.27, I rounded up to the nearest $50 for all my savings account. I'm a big believer of putting something up, no matter how small for rainy days. So, I wanted to make sure I socked away something since money will be right. I'll update my sidebar later. 

 

Lastly, in regards to finances, I have about 310 euros left and will exchange those tomorrow for US dollars, I checked and it will be $308.

 

In nonfinancial news, one of the travelers I went on the trip with, admitted that the trip was poorly planned and that he too was very disappointed. I was really surprised because I thought it was just me. He stated that there were quite a few days that he was very upset with us not spending any time at some location visited and also that we had too many things planned for one day. 

 

That's it for now. 

Ugh!

May 17th, 2022 at 09:07 pm

So I get home and now my refrigerator is out. I went to two used appliance stores with no luck. Now I'm looking into purchasing a brand new one and they're not going to be available for some time. This is so frustrating. Thankfully I have a small one in my home office. 

 

Yesterday, it cost me $60 to replace my driver-side seatbelt latch. It was acting up before I left and I was planning on ordering upon my return but I thought I had sometime. Anyway, it gave out, and thankfully it was in stock and the SO was able to install, so no labor fee. 

 

Murphy seems to be hitting me from all sides. I'm happy for my EF but it makes me nervous when I have to use it. 

 

Its only Tuesday and I already feel like giving up. 

 

Motivated

March 22nd, 2022 at 10:11 pm

 

I did it!

 

I reworked my budget so that I will max out my IRA for 2022 and meet my savings goals. 

 

Yes, I'm still paying off debt but for me paying debt and saving simultaneously gives me peace of mind and keeps me motivated. I've learned that everyone’s journey is different and I have to do what best fits my needs and most importantly keep me motivated. Who knows this may change again, but for now here's what happened today. 

 

$500 added to EF

$773 paid on mortgage principal 

$2000 paid towards student loan number 3

$500 towards IRA 

$205 saved for HOA

$100 for house fund, next few years I'm going to need a roof 

 

Next week I get another $800 and I’m going to throw it towards my student loan 

Here’s an update

May 16th, 2021 at 10:46 am

 

Happy Sunday everyone!

As promised I wanted to check in and let you all know how things are going. 

 

First, my job is very stressful, our CEO needs to retire, but she refuses. She’s done a great job with getting the business where it is but we can’t move forward under her leadership. I’ve submitted about 85 applications in the last 30 days and nothing. For those saying people don’t want to work, I say think again. It took a friend over a year to land a job. This was his first and only offer. 

 

Next, I managed to get my emergency fund to $14,000. I’ve never had that much money. Though this is a drop in the bucket for some, it’s a lot for others. I’m so proud of myself. My goal is to save about a years worth of my take home pay. 

 

Moving onto my student loans, I’d slowed down because the HOA is attempting to amend the bylaws to force everyone to change the roofs even if there is no damage. I’ve been praying this does not pass. Any way I started back at it. I got my second loan down to $6500, I’ll be paying another $300-$400 this week. It feels good seeing this go away, even if it is slow. 

 

My internet has been down since Wednesday, this sucks but I have to finish my taxes, I’ll do that today using my phone’s hotspot. Thank goodness I completed most of it. I just have to add the tax ID of my side hustle and hit send. 

 

I’m still trucking along with the 52 Week Challenge as well as the $2021 for 2021. I had fell behind a bit but I’m catching up. This money will go towards my student loans. 

 

I’m still paying an extra $25 a month on my mortgage and adding an extra $25 to my IRA each month. I know Dave says not to do this but I’m older and it gives me a peace of mind. 

 

Health wise, I’ve been walking more so my blood pressure has been great. Hopefully when I see the doctor I can get off these pills completely. 

 

That’s it for now

Can I Cash This Check?

September 30th, 2020 at 10:30 pm


When my brother and I was going through it, I wasn’t happy with my original attorney, so I sought another one. I thought I had given her a deposit, to hold. $4,000. But I had no record.

Long story short, I’d asked about the money but the attorney said she didn’t have one. Today out of the blue, she called and mentioned she was cleaning her office and found an envelope with my name on it and a note marked to hold. Low and behold it is the check. She said she thought it was strange because normally the funds would go into the trust account. She’s returning to me. It’s a cashier check, I no longer bank with the bank that issued it, my question is, will I be able to cash it?

If I’m able to cash it, the money is going straight to my savings account. My goal is to save 6 month of my take home pay. I’ll continue to tackle my student loans the same as I am currently doing.

Other news, I paid another $320 on my student loans. My total paid for the month I believe is $3,000, I’ll calculate this weekend. I know that I’m just under $3k for my first loan.

Can I Cash This Check?

September 30th, 2020 at 10:07 pm


When my brother and I was going through it, I wasn’t happy with my original attorney, so I sought another one. I thought I had given her a deposit, to hold. $4,000. But I had no record.

Long story short, I’d asked about the money but the attorney said she didn’t have one. Today out of the blue, she called and mentioned she was cleaning her office and found an envelope with my name on it and a note marked to hold. Low and behold it is the check. She said she thought it was strange because normally the funds would go into the trust account. She’s returning to me. It’s a cashier check, I no longer bank with the bank that issued it, my question is, will I be able to cash it?

If I’m able to cash it, the money is going straight to my savings account. My goal is to save 6 month of my take home pay. I’ll continue to tackle my student loans the same as I am currently doing.

Other news, I paid another $320 on my student loans. My total paid for the month I believe is $3,000, I’ll calculate this weekend. I know that I’m just under $3k for my first loan.

September Check In

September 4th, 2020 at 09:59 am


Pay day and I paid $400 on my student loans. I’m hoping to have my lowest balance loan, of $5,485.00 paid off by December 🙏🏾. The best thing that could have happened was this zero interest deferred payment. It allowed me to tackle at least one of my loans aggressively.

Now I’ll admit last month was a dud. I fell off the wagon, buying things for the house. I wanted to “fix” my home up. I painted my kitchen cabinets, painted the spare bedroom, bought a rug, bought a cube for the office space, and other miscellaneous items. Though I love how things turned out I’m pooped about what I spent (paid cash). So for September I had to reel things in, it’s a no spend month for me. For every day I spend nothing I’m adding $2 to my challenge fund.

Saving news, I socked away $400 in savings today as well, I also realized that my EF, including my mortgage account, has 6 months of expenses saved. I’m so excited about this. I’m really nervous about what will happen the first quarter of 2021, I think things are going to get bad. We can’t have record number unemployment and nothing going into default. But either way, I want to be ready, my goal is to have 6 months of my take home pay saved not expenses but I’ll take this for now.

Other news, I had to call the electrician back, we think that the plug on the dryer was bad, fingers crossed, that it’s fixed. I don’t mind hanging my clothes to dry but I like to dry my towels in the dryer that way they’re nice and soft.

That’s it in a nutshell for me.

Checking In

August 22nd, 2020 at 08:08 am


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

EF Update

August 6th, 2020 at 07:57 am

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.

Refi Approved

June 24th, 2020 at 05:56 pm


My refi was approved, whew! I should be closing next week. I’m so excited to be saving on this mortgage. The savings is about $230 a month.

If I close next week, there will be no July payment, I can sock that payment away to my mortgage sinking fund, and that would put me at 3 months saved, aside from the EF. Once that happens, I can now stop funding this account and throw that money at my student loans.

I was hoping to throw $1000 this month to the student loans but it looks like only $500. I totally forgot I had to pay for the inspection of the home during the refi. Oh well, something is better than nothing.

I’m so thankful for everyone here and of course God, who has taken me on this journey to get my finances in order. I have a ways to go but I’ve definitely come a long way. God put it on my heart, that pay check to pay check was not the way to live, and all of you encouraged me along the way. It’s such a relief, to finally see I can do it.

I’ll admit, I get disappointed when I look at my student loans but, I know I can get them behind me

I’m 46 but for some reason it’s on my heart that I’ll be totally debt free by 55, and that includes the house.

Saving, and Paying Off Debt

June 12th, 2020 at 10:53 am


Sinking funds. I have so many, but they give me peace. When I bought my house I started a home repair fund, best decision ever and later a mortgage fund. The goal of the mortgage fund was to save three months payments, in addition to my EF. By the end of this month, I’ll have the three months mortgage saved.

I’m so excited about this! Just knowing that I have at least three months of mortgage saved, not including my EF, is amazing. Once I hit that goal, I can throw the extra cash at my EF. The goal of my EF is to have six months of expenses saved. I have a way to go but definitely believe I’ll get there.

I signed the documents to lock in my refi rate of 2.70. In my excitement to post I was thinking my total payments would drop close to 50% but the numbers I was looking at was only the P&I. I forgot about escrow, over all based on the recalculation I’m looking at a 30% decrease, that includes P&I as well as escrow. That’s still significant and will help me knock 🥊 this mortgage and student loans out sooner.

Today was pay day, I managed to save 51% of my income. This include my monthly mortgage payment. If I close before the first, I won’t have to make the July payment. I also, added an extra $100 to the student loans. Though when I look at the balance, my payments look like pennies, I know eventually this will change. In the past I paid for my degree, I have no idea what possessed me to take out a student loan, oh well, can’t cry over spilled milk.

Finally I feel like I can breath, that I can make head way. I’m saving and paying off debt, and it feels good.

Nervous

April 17th, 2020 at 10:03 am


This is tough for me but I decided to hoard cash and only pay the minimum on my debt. Though I think/feel like my job is stable, with this pandemic, things can change over night.

I reached out to our controller, after reading an article that the loans for small businesses had reached its cap. He was always adamant that there is a possibility that the organization wouldn’t get it, as with I, but just to read about it, it did something to me. Our organization’s loan application and backup documents are in, at this time we are just waiting.

Then a friend of mine, who has a small business, was in the middle of underwriting when he received an email, his loan was denied due to depleted Paycheck Protection funds. He actually shared the email. This is so heartbreaking, as well as my validation to save more aggressively now.

Honestly I’m nervous about food. I went on Walmart Sunday, and the shelves were empty, no eggs, milk, orange juice, nothing.

I know we’re told not to hoard things, but I’m heading into the grocery store today to get a few perishable items, and water. We’re heading into hurricane season, and if we have an active season, with this pandemic, only God knows what will happen.

For the most part I feel good but I can’t help but be nervous.

Stimulus and Confusion

April 15th, 2020 at 10:27 am


This week has been rough, work is very stressful. I’ve got to learn to let things go. This is not my organization.

Financial news, my stimulus/loan hit my account today, $1200. I added this to my emergency fund. I also, received the check from my side gig (last week) and decided to pay my car insurance for three months, saving me about $16.

Though I’d really like to tackle my CC right now, a part of me is telling me to save. Save as much as I can, and pay minimum payments on bills. I’m so confused about what I should do. Save, pay debt, save pay debt.

My student loans payment automatically stopped.

I’m just confused 🥴

Pissed!

March 18th, 2020 at 07:51 am


I ell these last few weeks have been extremely exhausting for me.

First my mom hit me for $1500 that I totally forgot about, significantly reducing my EF. I’d borrow the money from her about five years ago. I tried paying her back and she wouldn’t take the money. Honestly I forgot about it, well she asked for it. Was I annoyed? Absolutely but I owe it and I’m done with it. She was upset because I took my $100 she owed me, for paying her cable bill. Either way, we’re done. I’m trying to hold on to my EF in case I’m laid off.

Next, I’m in HR. What I’ve found is that these managers do not adhere to the recommendations that I make. They’ll go to my boss, the CEO, get her confuse and convince her to go with their recommendations, that normally benefits themselves and their favorites.

Well yesterday, I had a manager insist on laying staff off. I’d advise her against it. The controller and I had worked out a few kinks and created a plan that could keep staff, all would receive their pay, and keep medical expenses at least a month. I’d given her a few options. She said she would speak to her direct report and call me back. Well the next call I get is the CEO decided to shut down two facilities, 40+ employees. I ask, when will this be done she says it’s already done. Being pissed is an understatement.

Well after she did this, she realized that the plan to pay her high income earner friends was no longer. 1.5 to 2 hours later, she’s on the phone telling her director staff to return to work. This is so unprofessional and unacceptable, I can just scream. We can’t do this to staff, given these times.

When I finally spoke to my CEO, she liked my recommendations and was told she was never provided my recommendation.

Birthday Blues

January 16th, 2020 at 11:13 pm

Well it’s been a pretty good week. Tomorrow I turn 46, wow.

I feel somewhat down because I feel like I haven’t gotten myself together financially; however, I’ve made some progress.

Rather than focusing on the negative, I’ll focus on the positive.

Today, I paid an extra $453.78 on CC10 knocking the balance down to $5,500. Tomorrow’s billing cycle ends, so I’ll be hit with interest 🙄🤦🏽‍♀️. I did look at transferring the balance to a zero interest card but the fees to transfer wasn’t worth it. I’ll have the card paid off in a about four to five months.

I also added $50 to the EF, $50 to the IRA account.

This month I have not eaten out, 16 days. Wow. I almost gave in yesterday, it was the sorority’s Founders’ Day and I really wanted to hang out with my girls but paying the credit card 💳 debt was the best decision. I’ve saved a ton by not eating out.

Tomorrow I’ll head to Sweet Tomatoes for my free birthday dinner.

Lastly, I decided to get the quote on the hurricane shutters before the season rolls around. It’s so difficult for me to find some one to come and put the plywood up. I wish I could find a decent handyman. I’ll apply for the city grant for reimbursement