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Thank you for the great advice

May 22nd, 2019 at 03:49 pm

I received my $11 survey check finally. I really wish they would make the funds available direct deposit. But I’m not complaining it extra cash.

Now I’m trying to decide if I should throw the $11 at my EF, CC9 or my Vanguard account. I need about about another 6k to have six months of expenses. Unbelievable, $11 and I’m struggling with this. 🙄🤦🏽‍♀️

I want to say thank you to this group for chiming in on me opening my retirement account. I had heard of the conversation but for some reason I had no clue exactly what it was. I liked the Roth due to the delayed tax but as Monkey Momma pointed out the traditional may be best for me saving on my taxes, especially as I’m paying down my debt. I’ve decided to throw 2% each pay period to the Roth. Once CC9 💳 is paid, I’ll throw 3% to the traditional and 2% to the Roth, since it makes no sense for me to now close the account, unless you all have another suggestion, I’m open. But right now it’s 2% until CC9 💳 is paid off. Once CC10 💳 is gone, it will be 5% to both and any extra cash will be split between both. Once the student loans are gone, hopefully three years, I can drop 15-20% to these accounts.

Other news, last night I hosted bible study 📖 and provided snacks for $13.36. I was able to find reduced produce on sale and used my healthy rewards card, saving me another $1+. I almost spent close to $30 on prepackaged fresh fruit but remembered I’m on a budget and I needed take my time and find the most cost effective snacks. When ever I’m in a rush, I over spend.

I went to a job fair today for my organization, made sure I packed snacks and drinks so that that way I was not tempted to purchase over priced snacks and drinks. I also drove home to have lunch. It makes a huge difference when you pay in cash 💰. I have $20 left in my dining out account and there was no way I was going to waste it, I lost $40 over the weekend, forgot my lunch Monday, and spent $10. So I’m not a happy camper.

Thank you for the great advice

May 22nd, 2019 at 03:36 pm

I received my $11 survey check finally. I really wish they would make the funds available direct deposit. But I’m not complaining it extra cash.

Now I’m trying to decide if I should throw the $11 at my EF, CC9 or my Vanguard account. I need about about another 6k to have six months of expenses. Unbelievable, $11 and I’m struggling with this. 🙄🤦🏽‍♀️

I want to say thank you to this group for chiming in on me opening my retirement account. I had heard of the conversation but for some reason I had no clue exactly what it was. I liked the Roth due to the delayed tax but as Monkey Momma pointed out the traditional may be best for me saving on my taxes, especially as I’m paying down my debt. I’ve decided to throw 2% each pay period to the Roth. Once CC9 💳 is paid, I’ll throw 3% to the traditional and 2% to the Roth, since it makes no sense for me to now close the account, unless you all have another suggestion, I’m open. But right now it’s 2% until CC9 💳 is paid off. Once CC10 💳 is gone, it will be 5% to both and any extra cash will be split between both. Once the student loans are gone, hopefully three years, I can drop 15-20% to these accounts.

Other news, last night I hosted bible study 📖 and provided snacks for $13.36. I was able to find reduced produce on sale and used my healthy rewards card, saving me another $1+. I almost spent close to $30 on prepackaged fresh fruit but remembered I’m on a budget and I needed take my time and find the most cost effective snacks. When ever I’m in a rush, I over spend.

I went to a job fair today for my organization, made sure I packed snacks and drinks so that that way I was not tempted to purchase over priced snacks and drinks. I also drove home to have lunch. It makes a huge difference when you pay in cash 💰. I have $20 left in my dining out account and there was no way I was going to waste it, I lost $40 over the weekend, forgot my lunch Monday, and spent $10. So I’m not a happy camper.

Retirement Part III

May 20th, 2019 at 10:18 pm

I’m all mixed up. Thanks everyone for your advice regarding the Roth account. I thought when I read the “all about Roth’s” section, it stated that taxes were basically held off and at age 59 1/2 one could withdraw without penalties. 🤦🏽‍♀️🙄

I also had no clue about the conversation from a 401(k). So now I need to open a traditional IRA to transfer the funds. I’ll do that this weekend, once I’ve done a little more research and asked more questions.

Now my is question, though the amount to open the Roth was minimal, what do I do with it, if I’m opening a traditional IRA? Do I keep both and from time to time make a contribution? I personally feel like one is enough for me to try and manage until I get these credit cards paid off.

Also it looks like the Roth doesn’t allow me to pick funds as of yet, due to the balance I think, the current fund is VMFXX. From what I can tell, I’m still learning, the risk factor is extremely low, the investment is designed to provide a current income while maintaining liquidity. I get this part, but it also states it has a stable share price of $1, what does this mean? I think the cash on hand doesn’t change regardless of what the market is doing.

Retirement Part II

May 19th, 2019 at 08:09 pm

Well this week I plan on taking a look at opening a Roth IRA, I’ll be contributing about 3-5% each pay day. Someone in a previous post mentioned Vanguard, I’ll be doing a little bit more research but was wondering if there are any other financial institutions you may recommend?

Question for SA on Retirement

May 18th, 2019 at 03:56 am

I’ve been so busy at work that I didn’t eat lunch yesterday. I found myself getting dizzy as I drove home. This is a habit I do not want to start. I ate my lunch for dinner and went straight to bed.

My mom gave me two dozens of eggs 🥚 and two packs of two chicken breast 🍗that I could easily turn into eight. I decided to split with my sister since I know she’s struggling and for some reason my mom is so mean to her. I have no clue why. My mom is just mean but she’s worst with my sister.

I checked CC9 💳 account today and the payment hit, yay 😀. I know I had paid it, and it would clear but nothing like the words processed and actually seeing the reduction of the balance. Next week I’m throwing $500 at that baby and she’ll be down to $1300. Two payments in June and she’ll be done ✅.

I’m thinking that CC10 will be done in December and then it’s the dreaded student loans 👩🏾‍🎓.

I wanted your thoughts, I’m 45 and I had stopped the contribution, following Dave’s plan, to my retirement. I’m thinking that once CC10 is paid off I should start back, at least at 3%. It’s going to take about three years for me to pay off the student loans. Or should I follow the plan, pay off the student loans and then throw 15-20% to my retirement. I can also max out my HSA that can be a vehicle for retirement as well.

What’s your thoughts?

It’s Pay Day

May 16th, 2019 at 11:33 pm

Woke up just after 1am checked my checking account and my paycheck was deposited. First thing I did was pay my tithes, I’m so thankful that is, has become second nature to me.

Next I looked and my $500 hit my CC9, all smiles as I added another $231 to it knocking that sucker down to less than $2k, nw balance $1847.75. Next week I should be able to add another $500 🙏🏾😀.

Then I decided to pay the mortgage 🏡. I don’t know if I read/heard this someplace, I think I did, or that I just like to do it but I like to pay my mortgage about 10 to 15 days before the due date. I’m so nervous that something will happen and I won’t have enough time to correct so that I’m not hit with a late fee. Plus I think the best time for a man to pay his bills is when he has the money. As I log in the bank has decided if you pay between the 11th and 16th they’ll charge you $5 if your not signed up for paperless bills. I’m old school and I like receiving my bills in the mail. This really ticks me off 😡 Needless to say and reluctantly I signed up for paperless billing.

Next I transferred money to all my sinking funds 😀. The direct deposit 🏦 didn’t hit because it takes two pay cycles for that to happen, this should be the last time I’m stuck doing this manual process.

Lastly I tried the fresh pizza 🍕 from Walmart, for $6 it was okay. I’ll buy it again but in a much smaller size. My mom gave me two packs of two chicken breast 🍗

HOA

December 7th, 2018 at 03:54 am

Went to my first HOA meeting last night and boy was it a doozy. I went with the intentions of obtaining information only, meeting my neighbors but I became quickly upset as with other residents.

I was extremely annoyed that questions being asked by the residents to the board and the attorney was not being answered, no one had a copy of the bylaws. As I sat there I sent a email to the management company requesting a copy. It disgust me more that the attorney hired to represent the people appeared as though she was there to represent the board who told the residents they were not holding the meeting because they wanted to keep their seats. Unbelievable!

This is going to be quite interesting. I didn’t think that I would be too active but it appears as though I will be.

Other news, two days in a row I fell off the wagon and ate out. Ugh

I told myself that what ever I spent eating out I needed to add to CC9 so I’ve been doing so.

I reached out to my sister and told her I wanted the $50 she owed me. I’m taking this and adding to my sinking funds, home repair and HOA fund.

Last month I spent a $123 for work, found the receipt for reimbursement finally. I’d initially used the CC for this purchase but the credit card has since been paid off. I’m thinking I should add to my January mortgage payment (principal), student loans or pay down CC9. Who would have thought I’d be struggling with deciding which debt to pay off first. 🙄🤦🏽‍♀️

Second Job

December 6th, 2018 at 03:33 am

Aldi’s hiring event is today. I’ve only noted my availability for the weekends, pray for me that I get the job.

As a cashier the hourly rate is $12.70 and I think close to $18 as a manager. I really don’t care about which one is offered, so long as I land a job. The goal is to use all the funds from this job to throw at the student loans. I know I owe the money but the mere fact that when I pay extra it’s only to the interest it just burns me up.

In other news my phone crashed, I did trade it in for a new phone, the good thing is I paid cash. The bad news is it was $300. I did pricing refurbished phones 📱 , but this was cheapest (iPhone 📱) with the series (7) and space. I know why an iPhone? It’s one of those stupid loyal to the brand thing. One of the reasons why I didn’t stop adding to the EF when I hit $1,000 was because I was saving for the day this phone crashed. I’d canceled the insurance last year, and didn’t want to be locked into financing with the carrier again. That process always seems like it takes you years to pay off.

Other than that I have nothing to report

Interest Rates Sucks

November 14th, 2018 at 04:14 am

Ugh interest🙄. Received a new invoice for CC7 that included an interest payment of $80+ , I went ahead and paid it off. I hate when you pay a bill another comes with the interest.

Looked at my student loans, ugh and what I’ve found is that in order for the balance not to increase and kill me I need to pay an extra $200 a month on interest, this will stop the balance from increasing, breaking even until I pay off the last two CCs. Now that the other cards are paid off, I can do that and still pay bills and add to EF. I hate interest 😡.

I’m opening up a separate checking account for the mortgage, and HOA. Though I haven’t closed yet, I want to jump start on socking away for this. Closing looks like December, that will give me 60-days to put things away and have two months saved.

Yesterday I woke up and the cable was off. Smh. I lost it, I called my SO told him I wanted him out. Told him that I can’t keep doing this, that it was mentally, physically and emotionally draining. I told him that I don’t need nor want his bad financial habits to cause me to lose my house and that he needed to go.

Came home after work, and the cable was on but it doesn’t negate the fact that he pays everything late, every three months the cable is off, and he does the bare minimum. I want him gone!

This weekend I’ll be looking for a part time gig, since the holidays are rolling around, this should be easy. Plus I should be taking on another department, that will give me a raise of about $12k, fingers crossed

That’s it have a good one everyone

Update

November 2nd, 2018 at 01:23 am

Good morning all!

The house the debacle is over, I received my check and paid off CC6, CC8 and CC7 will be paid off today.

I decided to purchase the villa that I’m in. The landlord agreed to $140K, and the place appraised at $150K. The good news is by me purchasing the rent/mortgage will be cut in half. The extra money saved, I’ll put half towards EF and the other towards the remaining debt.

I still have the 8k saved so if anything comes up with the home that’s where I’ll dip into. I don’t include this amount in the sidebar.

We are also expecting to relinquish a high level employee, her duties will be split amongst managers so, I should be getting another raise. Upward of about $10k - $12k

Just Sucker Punched CC4

March 30th, 2018 at 12:39 am

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

Target CC Down

March 18th, 2018 at 07:16 pm

I went ahead and paid $37 on CC4 knocking it below the $700 mark 😄. I'm so excited, that I'm trying to think of ways to actually have it paid off before May 1st.

My quarterly goal was to pay off one CC per quarter, I've already met my first quarter goal but it sure would be nice to make it two, in one quarter. I'm not going to stress too much about it because I'm already on track.

I also added an additional $38 to the EF bringing the total to $1174. This is awesome because I want to save at least a $100 a month, and I've beaten that goal for March already 😄. In addition; I'd budgeted $65 for the truck registration and it was actually $49 so I'll be adding the difference to the EF.

On a different note, I have cut out TV, the best thing I could have done. I find that by not watching tv 📺 I get to work on time, and there's more time in my day. Next on my list is social media. I have however; been listening to a new podcast, Jen Hemphill, I like her. She discusses finances and interviews an array of people.

Lastly, the SO and I just finished up our bible study 📖, I'm not sure what's happening but he's making some progress. I did end up asking how his week went with no spending and he said pretty good.

Edit to post. Just noticed that the funds for an item sold on Poshmark was now redeemable, $7.05, so I added this to my EF. I'm so excited. Things are trucking along. New balance $1,181.05