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Archive for September, 2018

Lots of paydays and a trip

September 21st, 2018 at 10:30 am

Today was essentially 4 paydays - my personal account, my contribution to our joint account, DH's paycheck, and a payment from my brother. It's all been appropriately budgeted out.

One thing I haven't yet mentioned is that next month, my brothers and I are going on a road trip. My dad moved from California to the deep South. It's now about a 14 hour drive to see him, so we hope to go down once a year or so. This year, we timed it for my brother's and our stepmom's birthdays.

I've only budgeted $300 to the trip. We're going to drive straight down in one shot, but break the drive into 2 days coming back. I used my rewards CC free night for the hotel. We're staying with family and will mostly just focus on family time, so the $300 is gas, road snacks, hotel parking, and then a trip to the aquarium on the way back home. The trip fund is fully funded. We also have the money for my kitchen pantry set aside, so I'll probably pull the trigger on that soon.

A Fresh Start

September 20th, 2018 at 06:20 am

Apparently, my company has 2 financial planners as free resources. They gave a presentation the other day, and I decided to meet with them to get some ideas. They asked me to give them a look at my financial picture, so that they could help me develop a plan. I'm still working out what information I actually want to give them, but it did force me to look at my financial spreadsheet and recalculate debt payoffs based on where I am today and some things that we're anticipating. According to the new calculations and not accounting for raises and bonuses, we should be debt free (except for the mortgage)by the end of the first quarter in 2022. If we push hard and stick to this plan, we may even be able to do it earlier. My 35th birthday is in December 2021. That'd be a pretty nice gift to myself.

Can't wait to free up money

September 18th, 2018 at 06:38 am

I'm trying to cut myself some slack because we have a lot of things we're juggling right now. I currently put aside about $1250 across 5 goals - Marriott CC payoff, Ashley Furniture CC payoff, fireplace fixing, property taxes, and an old loan that I took for my mom that she just completely stopped paying me on. All of these goals minus the old loan were planned to be completed by the end of the year. Rather than rush to live off last month's income, I'm going to use the $1050 freed up from everything else to pay off the Mom loan (there'll be less than $1k left) in January (if I can't find the cash before the end of the year) which would free up the last 200. That extra $1250 will give us breathing room to up my retirement to 10% and still give us at least an extra $500/month snowball. Looking at the next few months, it looks like Last Month's Income will happen first quarter of 2019. We also won't have $10k for a new-to-us car, but we're going to stay within whatever we manage to come up with (it's looking like about $8k). That'll also free up whatever money we'd been saving to that goal - not sure what the number is yet since October will be the first normal pay month we've had in awhile.

Life's Hard

September 14th, 2018 at 06:12 am

It's been so difficult adulting recently. On the one hand, our financial situation is probably the best it's ever been. On the other hand, we still have light years to go, so it feels impossible. To be fair, we are not even remotely gung ho about the debt payoff, so I guess that I can't get upset if I'm not actually willing to commit to the sacrifices.

A random list of financial things:
- I moved our baby emergency fund of $1000 out of our checking account and in to savings. (I used to keep it in checking to ensure that we'd have the $1500 account balance.)
- Our checking account saw over $10k for the first time ever which is huge. It's still sitting up that high, but all of the money is accounted for in various YNAB categories.
- I won't be able to make all of my goals for the rest of the year. I know the living off last month's income will be short, and I'm pretty sure the car will too, but I'm still going to try. We'll just find a car within whatever we do have saved. And DH will have one extra paycheck month by year end which will get us kind of close on the last month's income.
- I set up our credit card payments today and realized that if I found an extra $500ish, I could pay off last month's balance on the Marriott card (our main one) and officially move on to riding the credit card float rather than paying interest.
- I also should have an extra $500 coming in from DH, but that might be better funding ahead rather than allocating it to the credit card.