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.
Viewing the 'Uncategorized' Category
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.
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.
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.
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.
Below are our original goals for the remainder of 2018 along with how we're tracking to meet them. It's a bit misleading as we received a big influx of money from DH's work payment. In September, we'll only receive one and half paychecks for DH, so things will be tougher.
1) Pay off 2 more credit cards (Ashley Furniture balance: $827, Marriott balance: $2500): On track - Paid $544.01 extra to Marriott in addition to current charges and interest payments. Paid $280 to Ashley Furniture.
2) Save 10k in a replacement car fund. ($50): On track - Right now, YNAB says we're on track since we were able to put aside DH's bonus. I know this will fall behind in coming months, but we'll do our best. New balance is $5064.54.
3) Live off last month's income. ($2500): On track - This will fall behind in September since we won't have 2 full paychecks for DH, but right now, we're ahead. Current balance is 2970.34. We need about $5600.
4) Fulfill fireplace fixing and dining room pantry savings goals ($160): On track - Fireplace account has $320/$800 set aside. Home Maintenance (where we'll pull the dining room pantry from) has just over $100. The pantry I'm looking at runs about $200.
So far, we're doing well. September will be tough, but then I think we'll be able to make some headway again in October when DH's schedule should be back to normal.
I just realized I've been MIA most of August. Things are still chugging along. DH gets back today, and his paycheck will come in tomorrow, so I'll be able to meet all of the goals this month (more to come on that later in the week). I am a little disappointed with myself at the exorbitant amount of eating out that I did ($234.06), but sometimes, life is about survival.
I love payday...mostly because I get to go in and budget it. I finished off the Costco and Marriott CC sinking funds since both come up this month. I also went into the next month and reset the goals for next year. Since I started midway through this year, they were higher than they normally would be.
I've also started putting more things on autopay. As I get more comfortable with YNAB, it's easier to simplify all the bills to pay themselves.
DH's bonus comes in tomorrow. It's a little less than I thought at $5500ish, but still a big help. The goal is for that to go into the car replacement fund, but I think that I'll have to use some of it temporarily to float us until DH's next paycheck. Maybe if I don't fund the sinking funds until his money comes in, I can swing it, but seeing the orange makes me feel like I came up short.
DH's only paycheck this month will come in Friday. It'll be slightly more than normal due to 4 hrs overtime. There will also be an additional per diem payout for some short term out of town work he did before he left.
DH left this morning. I'm a big emotional eater, so skipping fast food breakfast was a big deal. I had made a batch of blueberry overnight oats, but those didn't look appetizing. Instead, I just grabbed a yogurt, nutrigrain bar, and bigger lunch.
I was debating adding money to the animal fund to get our dog groomed, but I decided to just try it myself. She's a GSD/Husky mix, so her fur is getting out of control. I'd bought a cheap grooming kit when I was considering cutting DH's hair. However, he's since decided to just embrace the bald look, so I'm going to use that and give it a shot. That'll save $100 if I can get her to a reasonable state.
I've also planned simpler meals since DH is gone. They're so easy that my brother can pitch in and cook more.
Like the last time that he was gone, I've made a list of small house projects that just never seem to get done to tackle while he's away. Today is furminating all the animals, cutting the dog's nails, and using the hair remover block on the couches/chairs. Other things this week include clearing out all of empty the Amazon boxes from our downstairs closets, organizing some of the house decorations, decluttering the kitchen, and deep cleaning the floors.
It's been up in the air as to whether DH would have to go out of town for 3 weeks again this month, and as of yesterday, it was confirmed. DH leaves on Monday morning to drive to his destination 6 hours away. While there, he won't have to drive and meals are covered. He knows he gets mileage, but we have to check on gas reimbursement. His projected pay for the out of town work will be just over 3k before taxes/deductions to be paid out the week after he returns.
This means, we'll have to do some moving around again this month. Between his one paycheck next week and my two normal paychecks, I think I can cover this month's expenses and next month's mortgage. If we can manage that, then I can use all of that work paycheck when he returns for goals. Our expenses are considerably less when he's away because I keep the temp much higher (75-78 depending on how cold I am), and we eat less/simpler because it's just me and my brother.
I'm going to update on these goals once a month, so here's where they stand today.
1) Pay off 2 more credit cards (Ashley Furniture balance: $827, Marriott balance: $2500)
2) Save 10k in a replacement car fund. ($50)
3) Live off last month's income. ($2500)
4) Fulfill fireplace fixing and dining room pantry savings goals ($160)
I did some more forecasting/YNAB goal setting, and it looks like my goals are going to be really hard to reach. Forecasting what I'd need to accomplish them looks like this:
1) Pay off 2 more credit cards (Ashley Furniture needs $180/mo and the Marriott card needs $520/mo). Capital One is just not going to be possible with the other goals, but if we happen to get some sort of windfall, then maybe.
2) Save 10k in a replacement car fund. 6k of this will come from DH's bonus. We need just under $800/mo for this one.
3) Live off last month's income. Based on the average spending from the few months of YNAB data, we need $1200/mo for this one, but less if I prioritize this over sinking funds and/or roll the BEF into last month's income and use that buffer. Taking out the mortgage payment (which we recently started accounting for next month's in this month's budget) leaves us needing $720/mo.
4) Fulfill fireplace fixing and dining room pantry savings goals (160/mo)
That totals almost 3k/mo going towards these goals. I'm not sure we're going to be able to do this, but I'm going to try. DH and I will have to discuss what's priority. For me, I'd rather accomplish 1,3, and 4, and adjust our car budget to whatever we manage to save. I think he'd prioritize 2 and advocate for skipping 4 this year.
Just typing this out, I've realized that 1 and 3 are my main priorities (and by default, DH's). While I want 4, and I suspect he'll want 2, I think we'll probably end up going with 2 and part of 4 - a safer car is more important than getting the fireplace fixed this year. The pantry is only $150 and would help with kitchen organization. Worse case, I tell him not to get me an Xmas gift, and we use those funds for that.
Debtfreeme pointed out on my last post that I don't pay rent...I've been in the house for almost 2 years now and still refer to my mortgage payment as rent...oops!
To honor my stillborn son's original due date, my boss gave me a butterfly bush. She knows we have a ton of yard, and landscaping isn't our thing. She came over to help us plant it, and we ended up spending hours out there starting to clean things up. Apparently, we have boxwoods and azalea bushes in the front. (I'm terrible with plant identification.) We used the new hedge trimmer to clean them up and shape them nicely. We dug out a bunch of weeds and small trees that were popping up. The butterfly bush looked beautiful for a few days, but then the rain stopped and it shriveled up. My boss was shocked because she said they're really hardy. I'm really hoping it perks back up because my whole concern with planting something was that I wouldn't be able to deal if that died too...
This past weekend, DH cut the grass since there was a break in the rain. I decided to use the hedge trimmer (I'm obsessed with that thing) to clean up the shrubs and bushes in the backyard. 4 hours later, we'd actually moved on to start clearing out the line of overgrowth that had provided privacy between us and our neighbors. We'd torn down their 4 ft fence and replaced it with a 6 ft privacy fence, so the overgrowth wasn't needed anymore. Unfortunately, most of it is on our property. The longterm plan is to turn that side into a small vegetable garden (lettuce, zucchini, peppers).
Everything looks so much nicer. Next year, I'm looking forward to hopefully putting some perennials in a few areas that we've cleared.
I'm experiencing the YNAB poor phenomenon. There's currently over 5k in my checking account, and yet I have no money. That probably doesn't seem like much by most people's standards, but that's far more than I normally keep in there. It's usually a toss up as to whether I'll hit the $1500 daily balance minimum needed to avoid checking account fees.
For the first time in a long time, I can afford rent on the first rather than using our first paychecks from the new month.
These are small, but very exciting wins. As mentioned before, debt payoff is going to slow a bit as we build some momentum towards the savings goals, but I do feel very grateful that YNAB's philosophies finally clicked with me.
Some quick financial wins. We're slowly working our way towards last month's income. We're about 40% of the way there with our available funds and 60% of the way there if we were to clear out the sinking funds and count them towards the buffer. Considering the weird paychecks with DH's work travel, I'm feeling pretty encouraged. Adding in the BEF would be 75% of the way there. We want to get there without counting the SF or BEF, but it's still nice to feel like we're making progress.
I also finally paid off the BoA CC. It's been next on the list for awhile, so it was nice to finally see it gone.
I did do some Prime Day shopping. I ended up moving my Amazon CC on budget in YNAB and entering the transactions, so that they would come from the right categories. I had all the money already set aside to pay the unplanned spending in full!
I adjusted my direct deposits to contribute a larger amount to our joint account - an extra 800/mo!
I have also decided on some midyear goals that I think are achievable by the year end (DH is on board by default since he trusts me to handle the money):
1) Pay off 2 more credit cards (Ashley Furniture and the Marriott card totalling about 3k, stretch goal would be 3 including Capital One at 1300)
2) Save 10k in a replacement car fund (6k of this will come from DH's bonus)
3) Live off last month's income
4) Fulfill fireplace fixing and dining room pantry savings goals (about 800 total)
It's going to require a lot of diligence and a little luck to achieve all 4 of these things, but I've never felt this in control of my money.
One last note... For anyone who was curious, I decided to forgo the match on my 401k through the end of this year in order to make some serious progress on getting to some stable financial footing. Beginning January 2018, I will increase my withholding back to 8% to get the full match and DH and I will just make do with slower debt reduction progress. (If all goes well, we'd have about 28k CC and 30k student loans.) DH has increased his contribution to 15% since he started later than me with retirement funds.
Well, there goes my super cheap meat source. Zaycon Fresh unexpectedly and abruptly suspended operations yesterday. Their phones are down, their offices are covered, and they're not responding to emails. I have $160 worth of food that won't be delivered, so I'm disputing those credit card charges today and will hopefully receive that back. Now I'll have to find another source for cheap, quality meats. We've gotten fish from Lidl which is pretty cheap and good quality. Their chicken is a good deal as well, but I'd never needed to buy it since Zaycon Fresh was cheaper. Before finding Zaycon Fresh, we used to buy the $20 meat deals from Safeway which comes with family packages of 4 different meats. Then we'd portion it into 2-person meals. Now, I'd probably have to cook the whole thing if we go that route since my brother is with us.
Looking for some advice as to how to proceed.
DH got a surprise email this week. He is also getting a raise - 7%! We both work really hard, so it's nice that our companies realize the potential and are recognizing it. While we're both still well below our full earnings potential, we enjoy our companies and work.
I'm trying to decide the best way to handle these increases. We don't currently contribute much to retirement: I do 3% and DH does 10%. I do not reach my max. Since it's 50% up to 4% of salary, I'd need to contribute 8% to receive my full company match. I have done the match in the past, but lowered it to get extra money to put to today's goals. Since we're still trying to pay things off, I've been keeping my contributions low for the past year or two.
What I'd like to do is keep my contribution static through December to give us a little more time to get on stable footing (hopefully one month ahead on income and pay off another 3 credit cards). Since DH's income is variable and I always underestimate it anyways, I want to use his raise to up his contribution to 15%. He'd still get a very small increase in his take home, but he'll be setting himself up well for the future. Since he came in with no debt, I hate the idea of my debts burdening his long-term security.
Is this a good way of handling it? Should I just take the hit and up my own to 8% now and find a way to live within whatever our take home is at that point? Since using YNAB, we've 'found' extra money that we've been using to cash flow projects we've been putting off, so nixing those would allow us to live on our current salaries before the raises. Since my raise was almost 6% and I'd up my contribution by 5%, I'd be working with a less than 1% raise plus DH's 2% to improve our current situation. I'm just not sure what's the best way forward. We'll have about $500/extra a month right now with our raises and keeping contributions as is (not counting the several hundred we spend on delayed projects). That should be more than enough to get up to last month's income and pay off 3 more cards to by Christmas (2 are under $1000). Upping my contribution would give us maybe a couple of hundred, so we'd have to stop the extra projects in order to really get any debt payoff traction.
I really don't want to keep putting things off - saving up for hypothetical future children, funding sinking funds, staining the stairs and fence, stocking up on tools, minor landscaping, fixing the fireplace, etc. But maybe taking care of my future self is a bigger priority. Thoughts?
A bunch of random things today...
1) Raises were confirmed. Mine was over 5% which I fully understand is pretty incredible in today's world, but still leaves me several 10s of 1000s below what I would probably get by leaving. Adding in the month plus of PTO and amazing flexibility helps too, but it's still something I constantly struggle with.
2) Had a rough afternoon yesterday. I had to go to the hospital to get a copy of the records I need for Aflac. It hit me really hard being back there especially because I had to walk by the labor & delivery unit.
3) DH's car needs maintenance (the light's been on pretty much the whole time I've been driving it). Plus, the tire pressure light came on yesterday. Plus, my car needs inspection this month. Plus, my brother said he was hearing a weird rattling on the drive back here. I had about $60 in the car things fund, but added another $100. I don't think we'll need it, but I'd rather put the money there in case. The tire pressure light went off after I put free air in the tires and recalibrated. DH is under a maintenance plan, so while it's a further drive for his oil change/tire rotation, it's free. The car inspection shouldn't be more than $30. The only variable is the rattling which may or may not be something.
4) I'm trying to focus on using up things in our pantry. I did have to get groceries yesterday and spent $30 on tortillas, hot dogs, a 50% off tenderloin, snacks, and fruit. I made grilled cheese sandwiches with the last of the bread, meat, and cheese and homemade tomato soup. Tonight is chili with 3-4 cans of random beans that have been in the pantry forever.
5) I have a potentially spendy weekend coming up, but I'm trying to minimize the output. I was invited to a winery tonight that I'm thinking I'll skip. Sunday, my friends and I are taking their kids to a play place in the mall by my house. I invited everyone to my place beforehand for brunch. I have everything on hand for waffles or pancakes. I want to grab some eggs and turkey bacon (there's $10 in the grocery budget for that), and my friend is bringing fruit. It cost money for the play place, but since I'm not bringing a child in, I can just tag along as the second adult on their admission. Plus, there's a military discount.
6) Weather depending, I also invited all of their dogs. We're dog sitting one dog (in addition to our pup), so I figured if the weather's nice, we'll break out the kiddie pool....if you've never seen a puppy pool party with 5-6 large dogs, you're missing out.
7) Lastly, if the dog party does happen, we'll need to be extra careful. Last weekend while mowing, we found a rabbit's nest with 4 or 5 newborn bunnies (we're talking less than a week old). While they're considerably bigger, they're still babies and I don't want to stress them out. I'm thinking of getting some cheap netting and staking out that corner of the yard to block it off.
Our raises go into effect tomorrow. Still no official word, but there's a different number in the check calculator tool and rumblings that that number is indeed reflective of our increases. By my new projections, we're only $50 short (not counting any money from my brother and underestimating my paycheck by about $20 since I'm not sure of the exact number). That includes some budgeting for fuel/groceries. I was able to submit past/present claims for Aflac totaling $175 for physician visits. Still waiting on the $1000 claim to see if the paperwork I submitted is enough or if I need more. Considering how much tangential spending crept in (Babies R Us closing sales, personal items for DH before leaving, a concert and dinner with friends that I rarely see, etc.), I'm pretty proud that we were able to weather this. I do have a $30 Costco card to supplement groceries. I also cashed some CC points out for a Papa John's gift card. DH is pretty miserable, and I want to make sure he has some comforts when he gets home. I didn't want to spend eating out money since we'd already gone way over with unanticipated spending, so I figure this is a good compromise since our points just accumulate with no real plan for them.
Apparently, I need to read my policies better. I had submitted a claim for the pregnancy and received $1160. We had a meeting today with our rep, and it looks like I actually am missing another grand. Plus, I haven't been using my physician benefits. I get $25 for up to 3 physician visits/yr. The $1000 I was paid out was for an overnight hospital stay. I am supposed to get an additional $1000 for the birth itself. That would be completely unexpected and go straight to the buffer putting us closer to/a bit over 50%. Since Aflac is retroactive, I'm also going to put in for previous year's physician benefits. 4 years' worth would be another $300.
I also *think* I know what my raise is, but still waiting to hear official word. If it is what I'm suspecting, it's almost a full percent more than my most optimistic estimate. Still well below what I'm worth, but I really do like the flexibility the company offers, so I'm trying to be patient.
I think we're going to take July to focus on building a buffer for August. Thank goodness I'd at least started sinking funds because raiding that gave us some breathing room. By my forecasting, we'll be $40 short of covering everything (with no grocery spending and minimal fuel). We should be fine though because that's not accounting for little brother's rent payments which we should have at least something before the next paycheck. That's also banking on some sort of increase. Our performance reviews and any subsequent increases go into effect on our next paycheck. While I haven't received official word, I feel confident that I will at least get something based on conversations with my managers and my performance. If I go to minimums for July, then I think we can save about a third of next month's income (maybe closer to half if I don't replenish the sinking funds just yet and instead categorize to the buffer). It's not much, but should more than cover the delay of paycheck that we'll again face in August. Once that paycheck finally comes in, we'll be able to go back to normal...although, is there really such a thing?
I'm really hoping we'll come out a bit ahead with all of this since I covered all expenses from my paychecks. DH's delayed paychecks are fair game to go straight to buffers/sinking funds since they're not needed to pay anything back. Also, I'm pretty proud that I was able to do this without 'borrowing' from the EF. In the past, I wouldn't have hesitated to take what we thought we needed.
We had a flurry of spending right before DH left, but I haven't spent anything since Saturday. I did have to raid pretty much all of my sinking funds to cover the pre-trip spending, but I didn't touch the EF and since I can cover the remainder of June and early July with the money we have, DH's paycheck will go to paying those categories back. One of the spendier items was 4 Echo Dots. We use Alexa constantly and have the goal of one in every room (we literally use them that often). They were on sale for $40 down from $50, and then another $20 off the purchase of 2. I did 2 separate orders of 2. 2 of them will be gifts (one to DH's brother who graduates high school today and one to my brother for his birthday), one will go in our bedroom, and the last one will go in the office.
I learned how to use our lawn mowers this past weekend. DH didn't get a chance to get to the yard before he left, and my brother came up this weekend to help, but it rained all weekend. This upcoming weekend is supposed to be nice, so I plan to tackle the yard then. I've also been giving my days some structure by adding exercise and a house project to each day. So far, I've cleaned baseboards, window sills, and door frames and cleaned/packed a ton of DVD cases that I took from my mom's house months ago. Today I will steam clean the microwave/toaster oven and clear out a bunch of Amazon/shipping boxes from our storage closet.
This weekend, I'll finally get around to our house binder which has been on my to-do list for about 2 years.
I had maxed out my FSA this year in anticipation of having a child. While that happened (albeit not in the way I would have liked), I grossly underestimated how amazing Tricare is and had a good amount leftover. As is, I have about 600 remaining, but at this point, I'm not clamoring to spend it since I can roll over $500, and we still have 4 months to the end of the plan year.
I did spend $230 to splurge on an Ava bracelet. It's basically a high-tech fertility monitor that tracks temp, stress, sleep, hr, etc. I got it this week and am liking it so far.
Other than doctor visit copays/meds, I don't foresee any other medical expenses, so I suspect that I'll be rolling over somewhere between $300-400 (we've both already gotten new glasses and had dental visits). DH has about $300 left, but I may suggest he use that to get prescription sunglasses, and then we only fund my FSA next year. (I had funded $500 in his thinking that our out of pocket costs might be more than what was in my FSA.)
My little brother was able to make a rent payment yesterday. Since this is a 3 paycheck month, he should be able to make another payment at the end of June, but not going to rely on it.
With that payment, we can actually follow the necessities only budget which does include cash spending for groceries/fuel/pets (granted, these are minimal amounts, but there's money allocated for it). On that budget, there is currently a $175 deficit, but I'm hoping to come in under budget on the variable categories (especially food and fuel since DH will be out of town) and I underestimated on DH's paycheck intentionally. I'm guessing his paycheck will actually just cover that deficit since he's likely going to have some overtime and is missing some of the differential pay from his last travel.
It's a very small thing, but I'm at least happy that we won't be adding anything to the credit cards to cover this weird pay gap. I actually borrowed from some of our other categories (electric and water are due this week, but the categories weren't going to be funded until next Thursday, so I rolled with the punches), but I already forecasted to put those back with the next paycheck, so we're basically going to stay flat for the next month.
Budgeting's going to be so fun when DH's big paycheck finally does come through in July. We'll be able to fill in some of the goal categories that will have to be skipped, pay off BoA CC, and have extra to designate specifically to the car fund.
Still waiting on tax returns.
Sometimes, it doesn't feel like I'm making progress. But then I remember, that we haven't added any debt in 6 months, have paid off several credit cards, are consistently staying within designated budget categories, and have begun setting up sinking funds (I didn't bat an eye at DH's car registration and inspection last month and there's already money set aside for mine later this month). It took me more than a decade to accumulate all the debt. It's going to take more than a few months of focus to get rid of it.
Lastly, my raise should go into effect soon. Our reviews are sometime in the next week. I didn't get a raise last year because I received a significant bump a few months before review time due to another job offer. I have a feeling I'm going to be disappointed by the number, but hoping for the best.
The one drawback (and that's debatable since it's not the purpose) of YNAB is being able to forecast. I get the methodology, but I do like to think ahead a bit. Right now, I'm still forecasting through my Excel spreadsheet. This morning was enlightening...
DH will be going away for most of June. During this time, he will not be collecting a paycheck. (Side note: he will get paid afterwards for the entire time. Plus, he will get the difference in pay between his normal work and the 3 weeks' pay.) I don't know why it didn't occur to me before to look at this info and make sure we were covered.
In my forecasting today, I mapped out scenarios for budgeting for all expenses, only the 'necessary' ones (including cash for groceries/fuel/pets), and only the ones that required cash on hand (not ideal, but I could set groceries/pets to 0, and assume minimal fuel costs which would come out of only my fuel money). I also mapped out scenarios where I finished paying the BoA CC as planned versus using that money to cut into the deficit.
I still have to discuss with DH to make a decision, but it looks like if we only go with paying the minimums on things that require cash on hand, hold off on BoA payoff (no payment due this money/0% until September) and assume no grocery or pet money/minimal fuel costs, then we can get by without adding debt. We will have to temporarily borrow from the EF until DH's pay comes in, but that will only be a week at the beginning of July. And realistically, we probably won't have to raid it all because I don't account for rent payments from little bro, but that will cover the deficit.
It's going to be a really tough June...tax money may come in during the month which would alleviate some pressure, but again, not counting on it. When that arrives and DH's bigger checks come in July, we'll be able to put a pretty decent buffer in place to prep for when this happens again in August. I'm not sure why I stuck my head in the sand when I knew this was coming, but c'est la vie. We'll get through it.
The car's been on our radar for awhile. I have a 8 year old coupe style car. DH and I would like to have kids and we knew that at that point, we'd have to get something a bit bigger and safer. DH gets a bonus this summer that should be between 5 and 6k take home. The plan was to use that and bank the snowball after these next two debt payoffs to put about 10k down on a new CR-V (the redesigned model with the safety driving features). However, after reading Total Money Makeover and thinking it through, I decided it wasn't worth it. **Side note** I'm still pro-new car. Despite the cost and instant depreciation, I find comfort in the fact that I know exactly what's happened to it and where it's been. **End Note** Right now, it just doesn't make financial sense. We can get a decent older CR-V for that same 10k outright, bank the monthly car payment, insurance & property tax difference for 5-7 years and then buy something nicer. For now, I will continue to drive my car until kids become more of a reality than a pipe dream.
In other news, goodbye Wells Fargo student loan! It was kind of silly to pay it since it was only 5%, but it was the next smallest one and freed up $50 to the snowball. Next month is the BoA CC that has 0% interest (the promotional period ends later this year and it was low-hanging fruit) and then we'll split the snowball into the higher CC debts and the car savings.
So that $53 I got refunded? I had put it in as a refund inflow transaction to the Home Maintenance category. Imagine surprise when my credit card went negative! Thinking it through, I realized this makes perfect sense because I had already paid the credit card bill including the $53, so those dollars already had a job: credit card payback. I was able to fix it by budgeting more to the credit card payment (we're still carrying some debt on our everyday use card from DD1's euthanasia/cancer treatments last year). Then my TBB went negative until I cleared the $53 from my Home Maintenance fund. Here I was thinking we had that money back when realistically, it had already done a different job.
Fortunately, I'll be able to replenish that $53 on my next paycheck by allocating the money that was going to go to credit card payments to the Home Maintenance fund instead.
In other news, we have very loose plans to buy a car in the next year or so. I think I've finally managed to get DH on board with the plan to pay cash for a used car! That's a story for another day, but quite the win.
Normally, I'm weirded out by Google's stalking, but in this case, it paid off. DH got a Google notification that an item he had viewed was the cheapest it's been in 3 weeks. It was a battery push mower that we had bought for $200. I looked up Home Depot's policy and sure enough, they do price adjustments. The mower was 25% off, so we'll be getting $53 back. Pretty awesome deal.
DH got his check today. It was smaller than normal due to him being out of town for two days last week. Everything's been budgeted. We decided to forgo a big anniversary dinner. Instead, we'll see the new Star Wars movie for $6.25 each on Regal's discount day. I'm even going to forgo the snacks which is kind of a huge deal for me. I budgeted $15 to entertainment to cover that. I think the 23rd is Chick-Fil-A's military appreciation day, so we'll probably do that as well since it's a free meal.
I've topped off most of my sinking fund categories and have a few more to do when my paycheck comes in next week.
I'm waiting on several items to come in/resolve: state and federal returns (totaling about $900) and a Swagbucks order (about $5 which would give me the $25 I need to do a Paypal withdrawal).
This weekend was really tough. We had a 1-yr. old's birthday party and Mother's Day. Suffice it to say, I didn't handle it well. I took yesterday off and am feeling much better today. On the positive side, DH's parents came over to grill for Mother's Day dinner. They brought everything which was a bunch of steaks, ribs, hot dogs, and wings, plus rice and cake. Other than making one plate for DH's brother who was working, they left everything else with us. So while there's only $27ish left in the grocery budget and half a month to go, we should be okay. This will be the second month sticking to the $250 and minimal eating out. (We did get Five Guys one night since they opened one close by to us, and we'll have our anniversary dinner somewhere - both budgeted.)
I got an email two days ago reminding me that two of my animals have their annual wellness visits coming up. Even though I'm working on building up an Animal Fund, there certainly isn't enough in there to handle their checkups. I was a little bummed that we'd likely have to add debt or raid our small EF, but decided to do what I could to mitigate the damage. One of those things was finally following up on our Aflac claim from the early delivery. I was expecting a couple hundred from that, but it turns out that we're getting just under $1200 back. We'll be using that to cover the animals' checkups, knock out one of the smaller debts, and add some to our sinking funds/buffer.
This was the first weekend in a long time where there was frivolous spending, and even then, it wasn't terrible. There was a local air show that my brothers and I attended. Although it was free, there was a suggested donation of $5/adult. I put in $5 to cover all 3 of us. It is a completely free, amazing event covered only by donations and sponsors. In future years, I'd like to donate the full suggested amount (or more), but for this year, I stuck to 5 bucks. We also spent $12 at 7-11 beforehand to get some snacks/waters to round out the pb&j sandwiches I'd packed. (Our pantry was pretty meager since I'd been so determined to stick to the $250 grocery budget.)
All told, we had a full day of fun for less than $18 since the snacks lasted past that day. I gave the last $2 of that $20 to my older brother to buy 2 burritos on his 1.5 hr drive home. I also spent $4 later Saturday evening to buy a Wendy's 4 for $4 for my little brother.
No eating out for me, but I actually will be eating out today from my $5 fun money as I didn't pack lunch. In my ridiculously poor planning, I left my wallet in my husband's car this past weekend which ended up on base during his drill time. Since I couldn't access it, I didn't make it to Costco as planned to do the grocery shopping for the week because I didn't get my wallet back until after they closed yesterday.
Dinner meal plan for the week is all set up. I plan on doing the $250 grocery budget again, but added a separate Household category which will start with $50. I know we'll need to split it eventually and since I'm feeling more comfortable with YNAB, I decided to do it now. I know we'll need laundry detergent and cooktop scrubbing pads out of household, but that's all for the moment. I also need to start a separate Zaycon Fresh category.
|<< Newer Entries||Older Entries >>|