Viewing the 'Budget' Category
May 27th, 2020 at 03:55 pm
My husband is out of town for work. He finally had two days off in a row on Saturday and Sunday, but worked Monday (Memorial Day) Strange times we are in, where the time off happens away from the family. But this is really like a deployment for many, so I have to look at it through that lens and be thankful that most days I have been able to see him.
They gave him the option of flying or driving to the destination. He could also have rented a car. He decided to drive his truck, which then prompted us to get some maintenance done that we knew was going to be needed soon. He got four new tires, rear brakes, brake fluid flushed and an alignment for about $1300.
The destination is about 900 miles each way. Mileage is paid at 57.5 cents per mile. This will give us a payment for about $1,035. I think we will bank this money in our Pot of Possibilities once it arrives. We had already been saving for the maintenance and that account is still flush with funds.
Don't worry planning for the second wave is happening, as is planning for hurricane relief in the age of CV. My husband, along with his team, have submitted these plans to higher ups multiple times. There are so many inefficiencies in government, so frustrating to observe. The Army Reserves is rarely deployed on the homeland, so a whole new era of responsibility.
My husband IS on the promotion list for Lieutenant Colonel. Now we wait for orders to make it official. It may take 6 months to get those, as only so many are processed and approved each month. We are grateful for increasing income and feel very blessed to have employment in a time when many others do not.
And on a completely different note, I'm buying a slightly used Crockpot today for $20. The one I had from our wedding (24 years) ago went out around Christmas. I have been pondering an Instant Pot, but haven't found the right price. So a crockpot it is for now. I have a lot of dried beans I have been putting off making because of it. Yes, I know I can use the stove and a pot, but I'm so used to the CrockPot! I am excited.
2 Comments »
April 1st, 2020 at 03:20 pm
We make automatic deposits to our money savings account each pay period! So easy. Highly recommend!
March Big Goal Additions
Paycheck 3/1 $260
Paycheck 3/15 $260
Total Interest $173.11
Total Contribution $693.11
YTD Total $2,069.44
New Big Goal Total $74,153.37
Goal is $200,000. We are at 37.08% of goal. I celebrate every deposit and every milestone on the way there!
This month I am grateful my husband has a job and it still getting paid.
0 Comments »
February 16th, 2020 at 03:35 pm
I've been watching a couple that's on YouTube work on getting out of a lot of debt. They were behind on their mortgage and didn't know until people started commenting that they needed to get current first!! When you are behind on payments that IS a debt and one that can get bad very fast, potentially losing a home or a car.
They have been gazelle intense on selling lots of things and their house is on the market to sell. They are finding cash in their home, including redeeming Ibotta rewards and credit card rewards for cash and gift cards, things that just weren't on their radar.
They are creating budgets, using cash envelopes, stopping monthly subscriptions and eating out. They shopped at Aldi for the first time. The skipped buying each other Valentine's gifts this year. They are rocking it!! And it's very inspiring. If you are in major debt, or looking to figure out what to do, find those that are making it work and follow their example for inspiration. There are lots of people who live debt free, and are climbing out of debt.
Yes, it's overwhelming to be in debt, but it's freedom to make the changes and strive to live a debt free life! Now go find yourself someone to inspire you if you have lost your way.
7 Comments »
February 2nd, 2020 at 10:10 pm
As mentioned earlier this month I have increased the amount we save automatically each pay period going forward to create at least an additional $2,020 in 2020! In the future this will be $260 per pay period.
January Big Goal Additions
Paycheck 1/1 $175
Paycheck 1/15 $200
Extra contribution $125
Total Interest $183.99
Total Contribution $683.99
YTD Total $683.99
New Big Goal Total $72,767.92
Oh, how I would love to to get to $100k! We will just keep plugging along.
1 Comments »
January 23rd, 2020 at 06:23 pm
I plan to save an additional $2,020 for the year. I've decided to simply automate this, and add it to the Big Goal total. Prior to making this decision I had already increased our automated savings of $175 each pay period to $200. This works out to an additional $50 per month saved.
In order to make the $2,020 increase for the year, I will change the automatic savings amount to $260. This increases each savings deposit by $85, compared to last year.
$85 x 24 pay periods is $2,040, which meets the goal exceeds it just a little.
I realized I didn't actually change the amount from $175 to the new $200 until the 15th of January. So I am short on both January deposits by $145 total.
I am moving that shortage today to make that the full $520 saved for the month. I will also adjust our automatic transfers as of February 1 to be $260 per pay period.
I have some apprehension in making this increase despite knowing my husbands annual raise was only enough to cover the added insurance premium for our daughter. This means we are forcing ourselves to have less to spend each month by $170 per month.
I think if it gets pulled out each pay period we just won't see it and will not have it to spend. At least that is the hope. Worse case scenario, I have over saved and can use the money if needed. I'm just going on some faith that the money will be there.
I'm not kidding, but seconds after I typed that I was going on faith, I received a notification on my phone that I sold a book on eBay. I'm taking that as a sign that we definitely should do this extra savings. The money we need will be there when we need it.
Are you saving more in 2020? How are you making it happen? Or if you have debt, are you paying more towards your debt?
Note to self, added $125 for January shortage, since additional $20 would actually put over goal. Transfers set up as $260 twice per month beginning February 1.
Sales, Surveys, Rebates,
2 Comments »
January 21st, 2020 at 03:25 pm
I have not been good at focusing on much of anything lately, including getting a blog post together. So this is all just random.
I paid our youngest daughter's tuition and housing bill. I had saved $500 a month for the last five months to pay the tuition out of pocket. I used her ESA to pay $5700 to pay for room and board. No loans for her yet!
Our oldest daughter's tuition and housing bill is at about $9,294. She is only taking six credits to finish up this May with her two degrees. I have $6,170 in our account towards that and I believe her loan and a couple small scholarships total $3471. So we will have nearly $300 left. I will likely give this to her at graduation to put towards the loans. No point in doing it earlier, as the loans are subsidized interest.
We got a utility refund for being under the average. That was $27.30. This program is likely going away at least in the short term while they do a military housing wide evaluation, due to complaints. I can see the next refund will be larger at $32.11 and appears to be pending now. I save this money towards our Big Goal.
I redeemed credit card rewards recently. Amex $67.30 and Chase Freedom $3.82, and US Bank $13.00. It all adds up!
I earned an Amazon gift card ($25) from Swagbucks since January 1. I earned $506 in gift cards in 2019. Many of which I think I failed to count towards our Big Goal.
I have kept my eye out of for some Christmas cards on clearance and finally found a box of 14 cards by Papyrus for 90% off. I paid just $1.89 at the local exchange store. This is the only Christmas item I was in need of.
This weekend I went to Dollar Tree and bought 9 cards for $6. 8 were 2 for $1. The valentine card my husband picked out for me was $1. This is a win, as he probably would have ended up elsewhere for a card and paid $7! I also bought some of those foil containers with a lid for food. I put a meal in the set of three for a neighbor who is recovering from surgery. Great deal so they won't have to worry about returning dishes.
I did decide to keep YNAB for now. It is a time saver as far as reconciling accounts, and helps me keep good records of our spending and savings. That will be charged to our account today for $75.59. I have looked at other options but will say they don't quite add up to what YNAB can do.
I think I mentioned this once but my husband raise for the year (not the likely upcoming promotion), is going to end up covering our oldest daughters insurance premium. It sort of doesn't feel like a raise when you don't feel like you get to decide what to do with it. But in reality I'm grateful the money came at the right time for the additional expense and didn't have reduce our savings.
It's going to be a busy year. Lots of travel for my husband. Our oldest daughter will graduate in May (with unknown plans after). Will she move elsewhere? What job will she get? She just seems very focused on finishing up. We will travel to her town for graduation. I just made a hotel reservation and probably am lucky I found something at a reasonable price at this late date!
Our youngest has talked about study abroad for this summer, but I'm insistent that any classes she does take must count for her major or minor. So far, we may be striking out. While the experience would be great, it doesn't make sense to pay for a class that doesn't count.
My parents will celebrate their 50th wedding anniversary just after Christmas this year. They have talked about wanting to take a trip with my family and my sisters family on a trip. We have said we will definitely go, but we have no idea where or what the trip may cost.
That potential trip has me wanting to sock away more money in 2020! I mentioned before the year end that some are looking to save $2,020 and I'm thinking of adding that to my savings plans to help with this trip. Hopefully in my next blog post I can try to have it flushed out where I will find this money! I think I just have to make it happen like a bill ($2,020/24 pay periods is $84.17 or $168.34 a month).
Thanks for listening to my brain dump! I didn't even mention taxes...I will save that for another time, too.
Sales, Surveys, Rebates,
7 Comments »
December 31st, 2019 at 02:51 pm
On this last day of the year I thought I'd reflect on a few things, but expect more detailed financial posts in the coming days.
It was an unpredictable year.
I didn't plan for buying our daughter a car, yet the writing was on the wall. That lack of planning resulted in a loan in her name with my husband as cosigner. We are currently making the payment of $133.50 per month because our daughter has a very part time internship. She uses her earnings to cover groceries and gas on the vehicle. The balance is currently $4,949.50. We are not currently making extra payments. I'm mixed about this loan considering we have the cash on hand. But on some level this should be hers to complete once she has a full time job.
We did put $3000 cash down on the vehicle and are currently paying ourselves back for this. I will have an update in a couple days on our progress on this.
Our oldest daughter also has taken on two student loans, each $2750. One is just about to be disbursed for spring. This are the first and only loans she has had to take out. I'm also mixed on these because yes we have the cash, yet I think it is okay for her to have some skin in the game. On the other hand she double majored and we will have supported her for five years by the time!! It's still amazing to me that we were able to get her through school with this small amount of debt.
Our youngest daughter did not need to take out any loans. She still has ESA funds, a least a year of Post 911 GI bill eligibility. We currently save $500/mo (or $6000/yr) towards her tuition.
Our retirement balances have skyrocketed this year with returns exceeding 25%. It was a great year to be in the stock market. We increased my husband's Roth IRA contributions to account for his catch up eligibility since he turned 50 this year.
I'm still impressed with our ability to handle the travel costs associated with having our girls living over 1000 miles away. I think I'm making plane reservations every three months on average!
We did make progress on our Big Goal this year too, which I will report in detail in the next few days. It was an average year towards that goal. Sometimes the effort seems so slow, yet at the same time I'm grateful that we have this goal. I think this money would just slip away without it!
In non financial news, I lost about 15 pounds this year and have been able to keep most of it off all year. I did really well exercising at least 5 days week. I drink a good amount of water regularly. Healthy habits and progress towards a little more weight loss is the goal in the coming year too.
I'm going to count 2019 as a success! Happy New Year!!
2 Comments »
December 29th, 2019 at 06:04 pm
We have been using Hulu Live TV recently, primarily to get our college football team games. Those are over for the season and our daughter who was in their marching band is done forever. Sad! We did cancel it for four months this summer when our expenses were especially high, and used an antenna to get over the air channels.
Hulu Live TV is increasing their price from $44.99 to $54.99. Really, really not worth it to me. My husband does like to have it so for now we are switching service providers. We will now stream with Sling TV for their Blue Plan for $30 per month. We will save $15 over our current price and avoid the $10 increase that Hulu Live was offering.
We may pause Sling here and there for additional savings. I personally could just be fine with an over the air programming, I only watch local news for severe weather information.
My daughter's phone was paid off this month too, so our bill will be lower by $13 a month. Not sure how long we will go until we purchase new ones, but for now I appreciate the savings.
Are you lowering any of your expenses in the coming year? I wish I could lower them all, but so many are rising. I guess I will put another post out on that at another time.
11 Comments »
December 27th, 2019 at 03:29 am
I've spent several months using the online version of YNAB. It works fine. There are some things that are just different, such as not letting categories go negative into the next month. I get why they do this, but we have a lot fluff in our account, so I'm definitely not really going to have an issue. I can't make notes on each category without them rolling over into the next month. I'd like each month to have it's own notes. I do love being able to link the accounts. I only have our two most active linked, but so helpful!
Because we did get a few months free as military, our first annual payment of $75.59 is due January 20. That is the amount due after the 10% member discount from my previous purchase of YNAB4 several years ago.
So, while I think on this option for a couple more weeks, I'm curious how those of you who don't use apps budget. Do you just use Excel? Did you make your own or buy a template or program? Do you use pen and paper? I've done both, but I'm out of shape using all those. LOL!
Thanks for sharing any thoughts. Overall it's not a bad program at all, just wondering if I really want to commit to nearly $80 a year for something I might be able to recreate in some way for free or less money.
After nearly four years of YNAB I am still a fan of what it can do, I think I'm just thinking about the cost and how it does add up over time.
9 Comments »
December 21st, 2019 at 01:07 pm
For just over a year we have been able to pay our rent for our current military housing with a credit card, earning Southwest airline miles and not paying any additional fees.
Unfortunately, the private company that manages the military housing has ended this practice, I believe in part due to their own change in banks. Of course, this has likely been costing them fees on their side.
We can still pay with a credit card, they are now passing on the fees to us to use the card. It would cost us over $60 a month to pay with a credit card. We pay them quite a bit as it is to live here in this 1980s era home (including many of the fixtures), so of course, we don't want to pay more than necessary.
We will now pay our rent with a checking account. This will not cost us any fees.
As a side note, people are livid with this change. They basically gave ten days notice. I think it has to do primarily with the lack of clear communication, and advanced notice of the change. It's amazing to me sometimes, how some organizations operate without no real understanding of their customer or end user.
Again, I appreciate the opportunity to use the card (fee free) and rack up airline miles over this last year. I just used some of the miles to cover two one way tickets for our daughter's return trips back to college after the Christmas break. We will not lose the miles we have accumulated and should have enough for one more round trip ticket.