Pay day was today and this is what happened
* Saved over half of September mortgage payment
* Reduced CC10 by only $15
* Added to my retirement savings
* Added funds to the sinking funds
* Set funds aside for auto pay bills (e.g. water, car insurance, cellphone)
* Paid half of the astronomical cable bill that is due on 8/17 🙄, and
* Paid tithes
Most of this check went towards saving, and I’m happy with that. I’m anticipating a reduction in my electric bill with the SO gone but not so much with the water, since I’ve been pressure cleaning.
I noticed I won’t be saving much with SO gone on the cable as I thought. Why? Well when we split the bill it was $85-89 per month, now with just the internet it is $70. So my savings is really, approximately $200 a year 🤦🏽♀️🙄. I’ve got to look for cheaper, internet service.
Lastly I’m going back to meal prepping
Viewing the 'Retirement' Category
Pay day was today and this is what happened
Yesterday I really needed to get moving and work on the next budget period, but I was so enjoying the quiet time and I was just exhausted from the workweek.
Things I need to do/done
✔️ Update the budget for next pay period
✔️ Update/fill my cash envelopes
✔️ Balance CC10
✔️ Update student loan accounts
✔️ Change direct deposits to include the pay increase.
Update my planner for August
Checked my net worth and found that it increased by .01% that’s $1953.94 🙄🤦🏽♀️. It’s progress, just wish that it was more. I know I’ll get there once I’m able to tackle the student loan debt.
I made adjustments so that I am saving more of my pay increases. Typically I’d spend this money by increasing my way of living that include shopping and dining, but not this time. I split the increase among retirement, saving and debt. These three things are my priority.
Today I’m going to wash 🧼 my car 🚗 she’s filthy. I’ve asked the SO for quite some time and he just hasn’t, so I’m going out before it gets too hot to do it.
So my manager told me I can get reimbursed for some of my HR professional development credits and membership. Well I renewed my SHRM professional membership and will be submitting my request for reimbursement of $189. I was so happy to hear this. I’d been saving for it and just needed another $25 to renew. I used the CC for the points and will pay it next week.
Now I’ll continue to save, because I also have my recertification due in January, I think, I need to double check, and that’s $400. I’m with a nonprofit so money is always tight. I’d love to go to one of the conferences, that’s always a couple of thousands of dollars but hey maybe the company will pay.
Other news, I ate out twice this week. I’ve really got to cut this out, this can add up quickly.
I also checked my SS benefits, I’ve earned the credits to collect, I realize as it is now, I need a monthly income of about $6,000 if I want to keep my current lifestyle. I definitely have some planning and saving to do. Oops also investing
Washed and colored my hair, saved myself $60. I do have to go in on Wednesday for a relaxer and and cut 🤦🏽♀️🙄. Wish I could do this myself but oh well.
Today was a no spend day. I’ve actually had seven (7) no spend days this month. I did buy one item that was not necessary, a float for the pool, I already had one, so I took it back. Got my $3 back.
The best thing I could have done was create sinking funds. I was invited to a birthday party for an old friend, who I love dearly. Even though we don’t talk regularly I would not have missed her party. Anyway, I had the money in the sinking fund to get her a gift, one of my favorite wines.
Also last week, I had the funds for my oil change 😃. Now it’s time to renew my professional membership, cost is $200, I’ll submit for a refund on the job, but if I’m not issued the refund I at least have the money.
Without these sinking funds I would have used a credit card. I’m so proud of myself.
I spent my afternoon balancing my accounts. One thing I noticed on the Vanguard account is an in and out, something called Swipe, what does that mean? Also, SO opened his retirement account, right now it’s $20 a week and we will gradually increase.
My net worth has decreased a little, I can’t wait until I’m able to see a positive number vs a negative one.
It’s a struggle some days but I do see the progress.
Today is pay day. The SO told me he’ll be handling my half of the bills this month since I’m dealing with my brother, and need to save for any additional potential legal fees, so I’ll be adding about $1200 to the EF within the next few days. I’m giving God all the glory and the praise. I was so worried about my EF and in just over a few weeks, I’ll be close to $3,500 after dishing out $5,000 for legal expenses. I’ll also be adding $750 to it mid July as well, once the tenant pays the rent.
I was thinking once I hit the $4,000 mark, I should start back paying down the CC, not as aggressive as before, since I was able to beef things back up so quickly. I know this isn’t the best option because legal fees can quickly rack up and I do not want to use a credit card, so I’ve decided to hold off. Maybe wait until I’m at about $7,000.
Honestly I just want my brother to leave me the hell alone. If I’m not able to get my legal fees back, I’m okay with it, just leave me alone. A part of me is hoping that the judge is empathetic towards me after realizing the crap he’s putting me through, and makes him pay me something extra in addition to my legal fees. I believe if he has to pay me he’ll stop, money rules him.
So pay day updates. Because I’m OCD about things, I paid the mortgage. I should have the funds today from SO. I did tell him I could foot the bill for my half of the household bills, his mother hasn’t paid him in two weeks, that’s a different story, but he’s insisting that I put the money up in case something else pops up.
Today’s pay day completed list:
$187.27 tithes not an option to skip
$990.10 mortgage, extra $25 principal
$195 CC10 minimum payment
Rolled over my IRA and now I’m confused. Though I’m dealing with this legal crap, and trying to beef back up my EF account I still want to add even if it’s $30 to my retirement, I’m definitely behind on the eight ball on this, and scared. I’m no spring chicken.
Before adding the funds I reached out to Fidelity and was informed that I can contribute up to $6,000 to this account. I definitely won’t me this goal amount this year, but hoping to next year. The only issue would be, is I would not be able to roll it back over to another employer’s 401(k) account, because that would be co mingling of funds. I’m okay with this. My current employer doesn’t match and I don’t plan on contributing until CC10 is gone next year. Had to push the pay off date back until next year, given the legal stuff.
Any way, the rep told me that I’ll be getting a 5498 rollover event form from them, and a 1099 withdrawal ACT (?) transfer form from my former employer’s plan. He informed me that I’d have to file both and that essentially the two would cancel each other out. It’s an in/out.
Now my question to you all is, do I go ahead and add the $30 to the account?
Last time I jumped on things and almost made a big boo boo without checking here first.
The tenant paid the rent $850, via cash app. I’ll throw $100 into the rental property account that I manage for my siblings and $750 into my EF, to rebuild it. Thank God, they agreed to let me use the money for legal stuff.
My rollover hit my Fidelity account and I’m suppose to pick some funds, but before I do that I will definitely research and get an understanding of how things work. I still have to roll over another $200.
As you all know I’m in a battle with my idiot brother. Yesterday I read this in my daily devotional.
“Truth is the absolute standard by which reality is measured. We may even have the facts, but you can have the facts and still not know the truth. Jesus said in John 8:32, only the truth can set you free. You can have information and not have the truth. Focus on the truth and watch God use it to bring you victory. “ - Tony Evans
This devotional really drills home, you can have the facts and not know the truth. That’s what I’m experiencing with my brother. I can’t wait for this to be over.
Just some Sunday rambling. I checked my accounts and earned a total of $3.59 in interest last month. Interesting, I pay 100x this in interest each month. Baby steps.
My grocery cash envelope has about $4 in it for groceries. I have chicken I can prepare and I’ll go pick up some strings beans to go with it. I still have a few meals in the freezer, so I should not go over. I’m impatiently waiting on pay day.
I called Fidelity and found out that I can set up direct deposits to my rollover account through my employer, Vanguard doesn’t allow this, I thought this was cool. I’ll set this up tomorrow.
I also completed the rollover/transfer form to transfer the $74 from the traditional IRA at Capital One 360 to Fidelity. I should have close to $3K once I get everything all rolled over. Then it’s up from there.
CC10 was bugging me, so I paid the $185.85 to bring the balance to $8,000. Friday is pay day and I’ll be throwing about $200 at it, then two weeks later I can throw another $1,000 at. Can’t wait to get this baby paid off. I’m anticipating 8 months to pay off but I really think it will be paid by Christmas.
Opened the Fidelity rollover account. I’ll complete the forms for the 401(k), number 1, today, scan it and email it to be processed.
I’ll have to call and speak with a representative for the 401(k) number 2. Not sure why this is so difficult for $230 dollars.
I’m going to schedule a time to meet with a representative from Fidelity as well.
I’ve decided that I’ll keep the Roth with Vanguard and rollover/traditional with Fidelity. Right now I’m contributing 2% to retirement (Fidelity and Vanguard accounts) it’s not much but it’s a start.
Once I can get a handle on the remaining credit card and student loans, as well as educating myself on investments, I’ll invest more. I’ll continue with this amount and gradually increase each year and at every mile stone (debt paid offs etc). The goal is to be contributing at least the 15% in the next five years.
In stupid tax (debt) news, I took a look at the budget. Looks like I’ll be adding an extra $1,000 💰 to CC10. It sickens me that I can’t add this amount to my retirement but hey. Looks like I may not have this CC paid off until early next year, if I’m only able to throw a $1,000 at it. We’ll see, I may be able to cut a few things or come into some cash.
That’s it for now
To say, I added $10.79 to the rollover, rounding down my checking account, can’t wait for the actual roll overs to hit