Amber's Personal Finance Blog

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.

It’s new to me but old to most. I read Apple approved to split their stocks, 4 to 1, they closed out at about $400, that’s about $100 a share after the split. Something so simple gave me so much joy, just a week ago I had no clue what a split was or how to calculate, and today I’m smiling because I have a clue.

Now, as I mentioned earlier I’m in no position to buy stock but I couldn’t help but play the game. Even though Apple is a viable organization, what’s going to happen next year? I’m anticipating that sales will plummet. Right now we have high unemployment, high GDP, we are in a recession but most haven’t felt it yet because the government is pumping all this stimulus money into to economy. So with that, I’m anticipating that Apple’s stocks will decline. So if I was in a position to buy, I think I would hold off until the top of the year, when stock prices decreased a tad bit more, purchase and later experience the increase once things bounce back.

For you pros what’s your thoughts?

Please be gentle, I’m new to this.

Met with our mentor today to discuss investing. No I’m not at the point where I can invest, but I’m at the point where I want to learn about investing. The man we met with is a multimillionaire, he started when he was young. One thing he honed in on was, save most of your income, don’t buy unnecessary things and read.
It’s myself and two friends, he has agreed to teach us and he’s not charging.

I chuckled when he told us to get the books from the library because they’re free. First thing came to mind was if you want to be rich, do as the rich. I’m nervous about this journey but I’m excited.

Our first assignment, and it’s a tough one, pick a company you’d like to invest in and ask yourself why? Look at the owners, how they’ve performed etc. I’m so nervous because I have no idea what or who I’d like to invest in. But I’m going to try and tackle.

Lastly, I logged into my student loan account, and finally my payment of $500 hit, I’m officially now paying down principal and it feels great.

It felt good to not think about COVID today

Please take this virus serious, I lost one of my good friends today

I’m so excited, I finally paid off the interest on my student loan (smallest balance). I paid my last amount in interest that was $455 and $45 on the principal.

This month I have paid over $2000 in interest, now I can start paying down the balance. I honestly did not think that I’d see this day, even though years ago I paid off a student loan, nothing compared to what I owe now. It’s such an amazing feeling and I’m so thankful to God for getting me this far even during a pandemic.

My last payment of $300 finally hit my student loan account, I’m down to my last $455 in interest before I am able to tackle the principal balance.

I’m both excited and thankful. I’ll have about two months of no interest to pay down the smallest loan, my goal is to pay at least $4,000 by the end of September. The balance is $7085.16.

I honestly thought I’d have these loans forever, but it looks like I’ll be done with them in three years, then it’s the house.

Today my friend’s mom died. She fought a long fight with this virus, please practice social distancing and wear a mask.

After I got the news, I started decluttering, my house. I tackled the kitchen (lower cabinets )and then moved to my master bathroom. In doing so I found I have a leak. I’m so glad that I’ve been saving since I moved into the house for home repairs. I called my handyman who should be here next week.

I completed my budget review tonight and found that for this last pay date I saved 54% of my income. Though most was to my sinking funds (future events) it was nice to know that I’m able to. Just wish I was investing this.

I also paid $300 on the student loans, next week I’ll pay about $500. I haven’t calculated but I’m anticipating that I’ve paid closer to $2000 this month on student loans, surpassing my goal of $1,000.

For the month, I saved almost $500 for my challenges. This will go towards my bed room set. I’d taken half the previous amount saved and threw it at the student loan, this was why I was able to go beyond my goal.

Yesterday was the first day I went out in months. Literally. I took a drive to a consignment store and they required a mask, and practiced social distancing. It was just nice to get out. I didn’t find a bed room set, but I did find the place to be expensive. It’s might be less expensive for me to buy a new set. I’ll keep saving and browsing around.

It’s pay day and I came in under budget with my cash envelopes, by $94. I stuck to a plan, and that helped. I was so tempted to head to the grocery store but I promised myself that I wouldn’t go until the next pay day, that’s today.

I stuffed my cash envelopes for the next budget period, and I’m promising myself the same thing, get what’s on my shopping list only, and don’t go back to the store until the next shopping date, two weeks away.

Today I paid $300 on my student loans. I’m down to my last $455 on this loan before I start tackling the principal. Thankfully we have one last month in that the loans are interest free, I’m hoping to knock $1,000 off the principal next month, bringing that balance just over $5k.

I read the proposed senate stimulus bill, and there is no mention of the federal student loans, bummer. Fingers crossed that the paused interest will continue, for a few more months.

Friends and family news
My friend whose mom decided to have a party during this pandemic, that was diagnosed with COVID, later put on a vent then in an induced coma, has taken a turn for the worst. The family was asked to call in hospice. The daughter in law who attended the party, tested positive but is showing no symptoms and is going about her daily routine as if she’s not been diagnosed and it pisses me off. It’s not much I can do besides tell her she needs to quarantine.

I can’t stress this enough, wash your hands, keep your distance and wear a mask.

Excited, I picked up another side gig for about $60 for a hour. Of course this will go towards the student loans.

I’m really hoping that my business would pick up, but it takes patience.

Every little bit helps. I signed up for budget billing with my electric company, I’d budgeted $120 for the month. However, the bill was to be $150 but because I did the budget billing it was $97. I took the $20 saved and added to my student loans.

This week is a pay week, and I’ll be adding $300 to my student loans.

I went back to using cash envelopes, I noticed I was spending a little more with my debit card. I also noticed that I still have about $94 left in my cash envelopes left, hopefully this is a no spend week and I can use what’s left and pay down my student loans.

My fingers are crossed 🤞🏾 that this deferred interest accrual continues at least through the end of the year. I’m really making some headway on these loans. The interest kills me.

Finally my student loan payment hit my account, since last month I’ve paid off $2375.75 in interest. I have $800 to go before I can start tackling the principal of $6,629.41. I’m so excited because next week is pay day, and I’m throwing $300 on this loan and then on the first I’ll throw $700 for a total of $1,000. That means my balance will be $6429, all principal.

I’m so close to paying this off I want to scream. Though I have a huge student loan debt, it will just feel good to pay one off by the end of the year, God’s will.

I’ll be honest, I hope Congress continues with the interest free accrual through the end of the year at least

I can’t stress how important it is to wear a mask, wash your hands frequently, and practice social distancing. This virus is serious, it is not a hoax, and if one person dies from it, that’s too many.

As you know my friend’s mom did not take this pandemic seriously, she is now in ICU in an induced coma, and her daughter in law, my friend’s wife now has the virus, contracted, they think from the party they all attended. Please adhere to CDC guidelines.

I’m in Florida, and things are bad. We have had over 100, clinical staff quit, at a local hospital. Let that sink in, over a 100. Nurses do not want to expose themselves, they’re seeing first hand what’s happening. My friend who is a physician shared, based on what she’s seeing, it’s not going to get better. Please, do what you must to protect yourself, family, friends and others.

Today I received my tax return of $538, I wish I could break even but hey. Anyway, I paid a few things (see previous post) and paid an additional $200 on the student loan debt.

This has been an amazing month, when it comes to tackling my student loans. Though I have a way to go, it still feels good to finally be able to get to this debt, while I’m on this debt free journey. I’ll be honest, I’m praying that another relief comes down the pipe and they continue the interest free relief until at least December, that would allow me to pay off one of the loans at least.

Since June I’ve paid almost $2000 in interest, next Friday is pay day and I’ll be paying $350 that would wrap up the interest and rest would finally go towards the principal.

For a while I was really depressed about these loans, I mean really depressed, but the ability to actually make payments and see a little headway really made a difference.

So glad that I checked, there was a time that I’d stick with the insurance company paying crazy rates, now I have no problem switching.

Geico sent my renewal, I felt like I did not receive the discount, called and got another quote with a different company, I’ll be saving $114.78 and for me, every little bit helps, so I’m switching.

Tomorrow is tax day and my deposit is scheduled to hit, I can’t wait to add more to my student loans.

I’m so close to paying off one of my student loans I can taste it.

I decided to take half of the money I saved for my bedroom set and throw it at the student loans. That leaves me with about $1,000 to go before I start tackling the principal and it feels great.

I don’t know why but I feel like God wants me to get rid of this sucker. Yes the bedroom set is falling apart but if I can get used I’ll be fine. Plus I can wait a little bit.

Wednesday my taxes hit and I’ll be paying $200 on them.

Paid an extra $150 today on the student loans, the balance is now $28,292.98, this amount is a combination of two loans.
The smallest of the two is $8,567.75. With the $150 payment, my new balance will be $8,417.75. Next pay day I plan on paying $300. Either way, I think I can get this loan paid off, I hope by December. My goal, $1000 a month.

Pay day is Friday, I sort of played around with the numbers and realized I will be saving about 34% of my income. Though most of this is sinking funds (e.g. HOA, mortgage, car insurance) it’s still a great feeling knowing I can save for these things.

After tallying what I’ll be adding to my challenge fund, my YTD will be $1532. I’m so excited about this. I had so many plans for this money when I first started, saving for my 50th, then it changed to paying off CC, now I’m teetering between a bedroom set and student loans.

My bedroom set was a hand me down, it’s over 20 years old and the drawers are actually falling apart, literally. I also need a new mattress but think I can hold off another year. However, a apart of me is saying screw the bedroom set and pay off the student loans. Maybe I can find a decent use set for $500 and throw the rest on the student loan. Either way I’m waiting until the last check in December and I make my last contribution before deciding.

By playing around with the budget I found some extra cash and I’ll be paying $150 on the student loans. That’s $707.02 towards my goal of a $1,000 for the month. Though I’ll meet my goal with the last check of the month, I really hope I get my tax return before the end of the month, so that I can throw the money on this student and that will take me over goal.

I’m happy that I’m able to make the payment but ticked off that this $1000 isn’t going towards retirement.

Received the refund, for the house after the refinance, the amount was $779. I also received a refund, thank goodness, for my professional membership from the job, in the amount of $219.

Now that I have a nice chunk set aside for professional membership and certifications, $763, I’m going to stop contributing to that account and add the amount I was contributing to the student loans. My membership is ridiculously high $219 and the certification (two) are about $150 every other year, and of course they’re due in different years 🙄🤦🏽‍♀️. So with $800 saved, this should cover those expenses, plus I get a refund so I can stop saving after July. Once I’m told no more refunds, I’ll kick the savings back up again.

I promised myself that any money I get, something will always go in the savings, pay yourself mentality. I’m not saving as much as I would like to, I’m trying to pay off the student loans but I vowed to always put something up.

So out of the $779, $100 went to the EF and 619.90 went towards the cash back credit card payment. The $619.9 includes the appraisal, $510, and two fees of $54.95 for the refi, so overall I did not spend anything out of pocket and made money using my credit card cash back.

I had about $60 left, so I paid $30 towards the student loan and left $29 in my checking account as a buffer. I also paid the $219 (the refund) towards the credit card, for my professional membership fee. I like the idea of using the card, not carrying a balance and earning cash back. Even if it’s just $30 a month, that’s $30 I have to add to my student loan every month.

When I went to pay my student loan, I saw that there was a allocation option, never noticed it before 🙄🤦🏽‍♀️, so I clicked on it. Low and behold, I can allocate the percentage I want applied to each loan, interest first of course. I noticed that the loan that showed a balance of $29k was actually split into multiple loans. The smallest balance is just over $6k, that means that at the rate I’m going, $1k month, I can have this loan paid off by December. I feel so much better, knowing that these loans are broken up and that I would be able to pay one off this year. I feel like I can make some traction.

Lastly, the prayers are working, my friend’s mom is doing better, she’s still on the ventilator and in ICU but she’s doing much better, thank God and thank you all for your prayers.

That’s it in a nutshell.

So Miami-Dade County is going back on lock down, I’m literally a skip and a hop away from this county. I can’t figure out, why the governor refuses to lock us back down. The bars, that are supposed to closed, are packed, people aren’t wearing masks and our numbers are skyrocketing. I’m in Florida.

I spoke with my friend, his mom is still not doing well. My other friend had to give up her office, the hospital has to turn her floor into a COVID unit, and my neice who is a nurse, is starting to feel fatigue, she hasn’t had a day off since February. Oh and we have positive cases that I’m now dealing with on the job, one employee has been admitted.

I just don’t understand. We prepare for a hurricane, we will even bunker down if the storm is approaching but we can’t do this for two-three weeks, my God.

I know this isn’t finance related, but it can be. If things do not get under control we are going to see some devastation. A local city, is feeling the pinch and will start shutting electric off of residents who can’t pay their bill, the average bill is $1200 due per household and over a million dollars past due for the city, for three months. Now you start factoring in rent and mortgages, that have been placed on hold, this will be a mess.

I just pray things get better.

Listen for those of you who think that your rights are being violated when asked to wear a mask, please put your selfishness aside.

This mask wearing topic has become political, and it is a health care issue.

My friend’s mom is fighting for her life right now. She decided against his wishes to have a party. That’s right a house party. People showed up, there was no social distancing and no mask wearing. Guess what, she is now in ICU fighting for her life. I received a 2:45 am call that things have turned for the worst. The family can’t even visit her.

Please keep this family in your prayer.

I’m finally tackling Chris Hogan’s “Retire Inspire” it’s pretty good. I ended up purchasing it because for some reason none of the local libraries had digital copies. Honestly, I like the way books feel anyway, and I can highlight if need be.

After reading a few chapters I got even more anxious about paying off my student loans, I want to max out my 401(k), IRA and HSA but I can’t until I get these loans paid off. I hate I took these loans out. 😡

Now that I’m doing these user surveys, I get Amazon gift cards so I can use these for books and household supplies. I’m nervous about ordering groceries via Amazon but we’ll see what happens down the line. Any money saved from not buying household goods I can throw at the student loans.

This was a good week, money wise, with the next pay day I will only be able to throw an extra $100 at the student loan. I cashed out the reward cash from the credit card, $27.02 and threw at my student loans, MTD paid, $527.02. I’m on track with hitting my goal of $1000 for the month.

I’m hoping I get the mortgage payment refund back soon. I have to reach out to the broker regarding my $75 application fee refund. That’s on my list to follow-up on Wednesday.

Lastly, I reworked my budget. I bumped my direct deposit to the emergency fund by $100 a paycheck since I’m saving that amount in mortgage, I also reallocated the car fund direct deposit. I met my goal for the upcoming six month car insurance renewal in August, so I was able to decrease the amount needing to go to the account for the next renewal in March 2020 by $100. It feels good, everything seems to be working out.

Wrapped up my taxes, $538 refund. The new tax bill wasn’t good to me, it screwed up my deductions for the house but hey 🤷🏾‍♀️
Once I received the refund, I’ll pay $54 for tithes, $100 to the EF and the rest to student loans. I think I’m going to surpass my $1,000 student loan payment for July. Next week I should be able to drop another $500 on the loans, with the first check in July and extra cash being received. I am feeling so excited. I already paid $500 on the first.

I’m truly thankful, this is the first time in a very long time in that I’ve been happy, there were times when I thought I wouldn’t make it, and here I am.

I’m so thankful for God’s grace and getting me through some really rough times.

Closed today, I’ll be getting a check on the 7th for just over $700 and I’ll also be getting a refund on the payment I made for July.

The first payment is due September so, I’m throwing August payment into the saving that will give me three to four months of mortgage payment saved. I’m happy with that because that was my goal.

Next I’m adjusting the budget, and my direct deposit, to account for the $222, I’ll be saving each month in mortgage since refinancing.

I completed my first user review and made $50 in gift card (Amazon). I’ll use these gift cards to purchase household goods.