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
Viewing the 'Emergency Fund' Category
Well it’s been a pretty good week. Tomorrow I turn 46, wow.
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
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
Today is pay day, and I can’t wait to Stuff my cash envelopes.
I’ve created the budget for this pay period; however, my cash envelopes are pretty healthy so I’m sure I’ll be returning some cash back to the bank and adding the extra to the EF. I’m staying focus. Refunding my EF, tackling the CC the student loans, in that order.
I woke up at 3 am, checked my accounts and the direct deposits hit. I paid the following
$200 extra on CC10 💳
I saved a total of $344, this include the EF, sinking funds and IRA. I was able to bump my IRA, doubling, my contribution. I decided anytime I get a raise or bonus I’m adding to the IRA.
I checked my electric bill, today is the last day in the billing cycle, my current usage is $69, by the end of the day, I’m anticipating my bill should be about $72. I’m so excited. My bill has never been this low. I’ve managed to knock my electric bill down by more than half since the SO has been gone.
My ending EF balance December of 2018 was $8197.69 my goal is to not only get back to this balance but surpass it.
As you all know, I had the emergency legal fee of $5,000. I was so close to hitting the 6 month savings goal and then boom 💥. I am thankful that I had the money to pay 💰 the lawyer.
I checked the EF and my balance is $5,559.87, I’m estimating by the end of December 2019 my ending balance would be about $6900. 🤞🏾
There’s so many things I want, and to do but I realize, I need to stay focus. Focus on one thing at a time is a must. First thing is, I need to keep socking money into the EF, the goal is to have 6 months of living expenses, that’s 12k. Plus a little extra, for legal fees, until this issue with my brother is resolved. I’ve been laid off 3xs and thankfully I had money saved. Right now the average time to find a job is about 6-8 months.
I’m still throwing extra at the CC, about $300-$400 a month, hopefully by March/April this baby will be gone.
Next, I know my car will need to be replaced, she has 259,000 miles on her. I love that car (Camry) and I pray she hangs around at least two more years but at so many miles I don’t know. The goal is to have about $5,000 saved, so that I can buy a car cash.
Lastly, it’s the student loans and the mortgage. If all goes well, and I hit my EF savings goals by February, pay off CC10 by March/April, I can pay an extra $400-$500 a month on the student loans , an extra $100 a month on the mortgage, and bump my retirement contributions. That’s the plan.
In other news. SO has been extremely sick. I personally think he didn’t go to the doctor because he has no insurance or the money. He finally broke down and went to the hospital 🏥 yesterday. I told him, if what he was experiencing wasn’t life threatening, that they would stabilize him and send him home 🏡. And that’s exactly what happened. The ER doctor 👨🏽⚕️believes he has an ulcer. I told him that as well. The stress he’s experiencing is off the charts.
Any way they gave him two prescriptions and told him to follow up with a gastroenterologist. The prescription was $200, I offered to pay. It’s the helping others in me. He opted against it. I went online and found a prescription discount drug card, with the card, the prescription dropped to $29.
I’m praying for his sake, he gets his life together.
Balanced my cash envelopes, and I did pretty good. I came in under budget for the most part
Category Budgeted Left
Groceries $80 $30
Auto $80 $50
Personal $130 $0
Fun $30 $30
Household $30 $27
As previously reported in another post, things are looking great. The electric bill was reduced by almost $60, the water bill came in at $45.68, this is the same as last month but down by $20 over all.
I’m going to cancel Netflix, I realize I don’t use it and that’s $14 I can throw at debt.
Savings is up, I’m about $1200 away from meeting my short term EF goal of 3 months worth of expenses saved. I can’t wait to hit the six month mark, then I’ll feel comfortable and can start throwing even more at debt.
Lastly, I received a notice that my taxes for the town in that I live in, has dropped
Cashed out my Ibotta rebates and added to the EF. I’m about $1,300 away from having three months of expenses saved. The goals is six months but I’d love a year.
Today I’ve been binge watching shows by Gail Vaz Oxlade, quite interesting.
Yay final check hit from my previous employer. Of course I paid my tithes $78.06, myself $100 (EF), knocked CC5 💳 down to $500 and kept $100 in checking as a buffer.
I know some of you would say why not pay all to debt? Well because God has been way too good to me, for me not to give Him what belongs to Him first. I’ve learned over the years, that while paying down debt, if you don’t pay yourself first, Murphy will hit and hit hard. Plus this teaches me to live on less than I actually make.
I think this is the Great Depression syndrome. People who’ve gone through the depression tend to save no matter what for a rainy day.
Right before the Great Recession of 2008, I’d paid off my debts and saved a nice chunk of change 💰. Well the recession hit, I wasn’t worried, I was able to stay home, finish college, take trips and enjoyed my summer while all my friends worried and couldn’t find work. I also ended up back in the mess I’m in after this, by not staying true to my values 🙄, lesson learned. So for me, I never want to be in a position where I can’t afford to stay home if the worst thing happens.
I think that’s why I’m saving. Though I’m what one might call a moderate Republican, I hate government interference, I’m pro gun and pro choice, and I don’t like what I’m seeing. Home 🏡 prices are slowly creeping back up, people are frantic about buying a home (me included), jobs are steady but lay offs are happening and gas ⛽️ , well that’s up and down. Plus the markets has been way too good. I always say, what goes up must come down. Maybe I’m overly cautious but I’d rather side on the side of saving than not.
Oops, it wouldn’t be a post without SO drama. His daughter who is pregnant went to the movies with cousins. Apparently one of the cousins decided to head out the theater early. Well this cousin, who just turned 18 gets into a fight with a 16 y/o and ends up in jail. 🤦🏾♀️🙄
I’m not sure why the daughter was at the movie 🎥 she should be in stork mode getting ready for a baby 👶🏾 but of course the grandmother 👵🏽 allowed this foolishness. 🤦🏾♀️ unbelievable. SO is another reason why I’m saving and paying down debt. He has too much drama, I need to move or get him out of here. I can’t afford to live on my own with debt and no savings
Just paid over $300 on the Target 🎯 bill, my new balance is $349.61. I should have this sucker paid off by the end of April, thank you Jesus.
I pulled my credit score with Transamerica and it was 698, not bad. Think my high score was 702. I noticed that as I pay these suckers off it's creeping back up. The jump is due to the decrease in high balances.
Back to Target, I'm going to be really annoyed if my payment isn't posted right away. They have a tendency of holding high payments. They actually suck, you can only make like two payments in a 7-day period, you can't add decimals. For example, I'd budgeted $348.76 but had to round up. No big deal but I like a balanced budgets, no over budget items just under. And lastly they hold large sums of payments. They make it extremely difficult to get your balance down.
It's 3:29 am and I've already spent the following:
* $196.08 Tithes - not negotiable
* $20 vacation club (savings)
* $211 JCP - minimum payment that include my AAA purchase
* $349 Target - debt snowball
Though a lot has gone out and I haven't cut the rent check yet, I'm thankful because one, I never thought in a million years that I could and would be faithful with my tithes. Secondly, with my raise and paying down debt, I've freed up over $500 a paycheck. Right now all you see are the payments but I'm about to add a total of $107 to my savings. All I think about is, when CC4 💳 is gone that will be another $50.
I'm so overwhelmed with mix emotions. I'm upset that I'm on this journey once again and I'm glad that I'm doing what it takes to no longer be slave to the lender.
I know it takes time and that I'll get there
I had budgeted $110 for the optometrist. Well for some reason, things just didn't sit right. I had scheduled my appointment but something kept nudging at me to call them. So I did and found out that my renewal is in July.
I ordered my contacts, that came to $34.99 and canceled my appointment. I'm going to pay half of what's saved to the CC and put the difference in the EF. But a part of me is saying add the entire $75 to CC4. If I did this it will bring the balance to about $658.
On the 28th of February I paid a $1,000 on CC4. I notice that my available credit after paying it hadn't changed, so I called the credit card 💳 company. Well they were holding the funds.
Why would they hold the funds? Well I found out that if you make a large payment they hold your funds. This to me is the most ridiculous thing I've ever heard of. I paid it and it should be processed. Well they finally processed it yesterday, two and a half weeks later. Smh
I've updated my side bar, things are looking pretty good. As you all know, I'm not going on the vacation but I'm saving now for a laptop. I probably could have purchased a refurbished one this budget period but I decided to wait, it's not a must. I do like the idea of putting money aside so when I want a big purchase such as a laptop 💻 that's not an emergency 🚨, I can simply just purchase the item. Or maybe one day I can treat myself to a fabulous lunch, and a little shopping that's credit card 💳 free. What I've found is that this program works but for me I need to do something nice once in a while or at least know that I can. Though I haven't done anything foolish since I've started, just knowing that I have the $100 to blow, if I get a crazy urge, makes me feel good. It's a process. Who knows, I may use this money to pay my CCs, that seems to give me the most pleasure. Who would have thought that paying down debt, gave you a natural high lol 😂 too funny.
I know Dave says to save a $1000 for the EF and then tackle debt. But my car is old with over 200k miles. I drive about 60 miles round trip each day for work. So for me, I think I need to budget funds for the EF, even if it's $20. I want to have at least $6k 💵 saved in case I have to buy another car 🚗. I'm happy that I was able to throw an extra $54 at it. This may slow me down a bit, but if my car breaks down rather than financing I'll have good ol sweet cash 💰.
Sinking fund, well this was to be for car insurance, car maintenance 🚗, Christmas 🎄 gifts and sorority dues; unfortunately I've been using this account strictly for car repairs. I'm glad I have the money 💰 but I was really hoping to be able to pay my car insurance for six months. I have one more item to fix on my car, once that's done everything else should be good and come October I'll be able to pay the six months.
Oh SO, has challenged himself not to spend any money, seems like last week he did pretty good. I didn't ask but I'm happy he's at least trying.
That's it for now.
Finally sold the tennis hopper and balls 🎾
I'm adding the $15 made to the EF, I've decided that no matter what, I'm going to add to my EF each pay period at least 2% of my net income, and what ever else I sell will go to the EF.
I remember my dad saying once that if you put $10 out of your check each pay date and save it, pretty soon you'll have so much money that you won't want to touch it. Since I lost my dad, I've been determine to make him proud about what I've done with my money. I want to save and be generous just like him.
Hopefully I can sell some more items. I'm