mcreal
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Post by mcreal on Apr 14, 2011 12:49:41 GMT -5
Shanendoah - yes, I will post my budget for others to review. It may be a couple of days for me to get to it. The biggest problem with my budget is that my mortgage payment is 57% of my take-home pay. I am resolved to stick to my monthly take home pay for regular expenses. It is nearly unrealistic, and this is why it causes such stress. I receive a substantial bonus quarterly - based on sales - and thats what I use for emergencies and debt reduction. When I started this jouney a year ago my minumums were $1300+ per month, leaving little for greater debt reduction or EF to build. My creative debt reduction has reduced my mins to $1000, and business is building at work, so my bonuses are on the rise.
Sheila - yes, I am making progress. Nearly $10K in debt reduction in 12 mos. My CC debt (racing) and car debt (not in my WIR race). It just takes every ounce of energy every day and I am so focused on success, when the financial surprises hit, they tend to derail me more than if I were not so focused. If I heard myself talk - I would say "lighten up, you are on the right track, you will get there" - but for me, I tend to hear the negative chatter in my head instead.
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sheilaincali
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Post by sheilaincali on Apr 14, 2011 13:07:10 GMT -5
mcreal: $10k in 12 months is huge! Congrats to you. I just don't want you to get down on yourself for having to use a CC for some college expenses and that sort of thing. Karma to you as you deserve it for all of your hard work and determination
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redwagon
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Post by redwagon on Apr 14, 2011 13:36:58 GMT -5
mcreal - wow i'm impressed! keep it up!
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dianartemis
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God made me and started laughing
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Post by dianartemis on Apr 14, 2011 14:20:23 GMT -5
mcreal: & Keep up the good work!
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Apr 14, 2011 16:39:34 GMT -5
sheila and mcreal- HUGS for both of you!
sheila- you are a better woman than me- I would have let my brother have it and I can't stand to be in the same county as my father! Of course, our father probably would have rendered him toothless for the display of disrespect- I was the only one allowed to question his authority- probably because I had too much dirt on him...
mcreal- there is a difference between using a credit card and using it responsibly. If you NEED to use it for school expenses- you do it. And make your pay down plan reasonable. I don't want to see anyone as stressed over money as my Mom was after her divorce from my father.
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azmom
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Post by azmom on Apr 14, 2011 18:55:08 GMT -5
This message has been deleted.
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sheilaincali
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Post by sheilaincali on Apr 14, 2011 19:17:25 GMT -5
mizbear: This zen like attitude I am working to adopt has come at a price. Thousands spent on therapy, hours spent crying because of my family, years of lost contact with my sister because she called me a bad name once. I could have made different choices along the way but I am actively trying now to make good choices. Learning to pick my battles and as a result having a lot fewer battles. But hey- karma for you for having a headace worthy family too
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reeneejune
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Post by reeneejune on Apr 14, 2011 19:30:20 GMT -5
mcreal - I'm pretty sure that deadbeat dads are required to continue providing support to their kids through college. hehehe... I considered suing my parents for child support (for myself) when I was in college because they wouldn't do a blasted thing to help me. sheila - that's pretty much why my aunt isn't talking to me right now. I wouldn't stand aside and let her yell at and belittle my Grandmother. I got between them, told her to cool it, and she blew a fuse.
Today I interviewed for a different position with the same company. The new position would be running the classroom at a new store about 30 min. north of where I live. It's my ideal work environment, but the timing might not be right for me. If I'm selected for the job, I'd start training the last two weeks of May (no problem there) but the store opens two days before the beginning of the Black Hills Meetup which would mean that I wouldn't be able to go. It's also a part time position, which would be perfect if I was ready to go back to college right now, but I'm still 6 months out from being in a financial position to go back to school. There's no guarantee that I'd get enough hours to be able to support myself. I know the store manager likes me and is familiar with my work, but there's lots of interest in the position, so I may not even be offered the job. I'll just leave it up to fate now. What is meant to be, will be.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Apr 14, 2011 19:47:58 GMT -5
sheila- If it weren't for my therapists, I'd probably still be best friends with Jack, Jim, Johnny and Jose. I decided getting rid of the stress was cheaper than my bar tab. renee- It will work out my dear- and if you go back to school, you may be able to land assistance or grants. There is money out there if you look hard for it. Also, would an online school work for your chosen field? Sometimes the tuition can be less expensive and will suit your schedule better if you are working.
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reeneejune
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Post by reeneejune on Apr 14, 2011 20:51:16 GMT -5
mizbear - the one remaining garnishment I'm paying on is my federal student loans... I won't qualify for any more aid until it's paid off, which should be in 6-8 months at my current rate of payments. I learned quite a lot about financial aid rules when my parents decided that they didn't have to provide me with the information the school requested. I was too young at the time to be anything but a dependent (unmarried and too smart to get knocked up) and so my school revoked all of my aid... federal, state, and school all because my parents wouldn't fill out a few papers and make a couple of copies. Sorry if I'm a little bitter on the topic. I was only a year and a half away from my degree thanks to all the hard work I put in. Now I've got to start over, practically from the beginning.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Apr 14, 2011 20:58:16 GMT -5
renee- One of my friends' future DILs is going through the same thing right now- I don't blame you for being bitter- I wish my mother had refused to give me information unless I broke off my engagement to my first husband- I would probably have my degree and not have half the problems I have right now! BIG HUG
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mcreal
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Post by mcreal on Apr 15, 2011 9:23:28 GMT -5
Ok - here's my budget, I welcome your comments. This is the budget on paper, the numbers I strive to achieve each month. It is so tight, I frequently fail. This is for a household of two, myself and #3D, with #1D staying here 2-3 nights a week. Once #3D is working, I can reclaim about $100 per month toward her car insurance and phone. #2D is returning from college in a month, and I will have a full house. As you can see, the biggest hog in the budget is the mortgage - I refinanced when my income was higher, I appraised much higher and I had not come to my senses about money. I currently cannot sell it and pay off the mortgage, it also needs about $10K in repairs.
Fuel $250.00 Auto Insurance $250.00 Groceries $200.00 Home Repair lawn $65.00 Household Exp $175.00 Life Insurance $32.00 Mortgage $1,936.73 Cable / Internet $114.00 Garbage & Recycling $26.00 Gas & Electric $163.00 Cellular $190.00 Water $33.00
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shanendoah
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Post by shanendoah on Apr 15, 2011 9:59:58 GMT -5
Update: 6 CS + 6 NS = 12 of 26, 6 of 12 MOANI'm right at where I want to be for the month, so happy about that. Swamped at work today. mcreal: I'm missing your debt payments and what you put toward your girls' schooling on your budget ETA: I started a personal finance blog yesterday. If you're interested, its over at bakingbudget.blogspot.com/
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mcreal
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Post by mcreal on Apr 15, 2011 10:38:00 GMT -5
Shanedoah -
My debt payments, medical, college, car repairs, home repairs come out of my quarterly bonus. CC Debt Minimums = $925 Car Payment = $195 College payments are "as needed" - between grants, scholorships, student loans and grandma, I have gotten off easy with books and occassional housing. #2D will be an RA on campus next year, contributing incredible savings. No housing or food. I will have to cough up spending money, as it is unlikey she will be able to work and manange the RA job and classes. Medical = average month last year was $250 per month
My lowest bonus quarter last year was $2617 - a really tough quarter. 2010 total bonus after tax $17289 - it was a low year for me. 2011 looks much brighter.
Anything over medical/car repairs/college and debt minimums is split 50/50 between EF and additional debt reduction Unexpected earnings, rebates, etc goes 50/50 as well.
I picked up a "side job" recently in the wine business. I have a partner and we occassionally get appraisal and cellar management jobs. This one is ongoing, $100-$150 per hour (split) managing a wine cellar. We put in about 10 hours so far, so that income will go to the 50/50.
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startsmart
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Post by startsmart on Apr 15, 2011 11:07:01 GMT -5
Mcreal, I think my heart stopped beating when I saw the mortgage payment. Wow. First of all, you're doing better than most. You're aware and striving toward your goals and making progress. Which is so so important.
First thought would be to increase your income, looks like you're doing that with the side biz. Please PLEASE put a simple agreement in place with your partner. Then do the little important things to grow the biz like asking all previous clients to write you a review.
For everything else, and I mean everything, work towards the lowest reasonable cost.
Examples: household budget probably includes a lot of random things. Clean/organize your laundr room to see how much laundry soap you have. Read the bottles and show your daughters how much to use each load. This will probably cut usage thus saving you money. When you get to the end of the bottle, add water to get the last bit out. In the meantime look at coupons and sales so when you find a good deal you can get more without paying full price.
There are lots of little things to do to save fuel. Get your tires rotated and properly I flared. Remove extra weight from the trunk. Slow down. Practice those regularly and you'll see gas costs go down or maybe not increase as much with rising prices.
While you're looking at expenses get quotes on car insurance and ask what discounts you can qualify for.
Most of the time it's a lot of medium and small things that will add up over time until you've got a comfortable cushion and less debt.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Apr 15, 2011 11:08:36 GMT -5
mcreal- Is it possible to just go to internet for right now and are your cell plans for 4 phones? If not for 4 phones are you close to where you can adjust your plan? Same with the auto insurance- is that covering all 4 of you on your plan? I understand the need for internet with students in the house, I just didn't know if you could shave a few dollars by going cable free. My mom and I save on our cell phone bills (even though I no longer live at home) by ganging onto 1 plan and when I lived at home, we all used the same car insurance carrier to get a bigger discount. Don't know if that helps, because you have probably thought of most of that already...
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azmom
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Post by azmom on Apr 15, 2011 15:56:49 GMT -5
ugh-not doing so hot. Yesterday should have been a NSD but instead the baby and I had lunch with DH (by baby I mean my very grown up soon to be 4 year old but even when she is 20 she will still technically be the baby right) Anyhow, I don't regret the decision but maybe I need to rethink my thinking on racking up NSD or at least start utilizing "fun money" as in actually giving us each cash. We have gotten lazy and have been "keeping track" of our debit purchases. Tuesday and Wednesday were both CSD-I only spent at the grocery store. DH did pay our deposit for our Cardinal Season tickets on Wed. I'm starting to get sick and I really dislike being sick. I have a race on Saturday that I have not trained a bit for. Not sure if I am even going to run it. It is Pat's Run and benefits the Pat Tillman Foundation...I LOVE this race but I might just sit it out. No reason for my to spend money to today at all so hopefully I can stay put!
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ses
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Post by ses on Apr 15, 2011 18:21:48 GMT -5
I'm here! I have been sort of AWOL lately. Life seemed to get in the way of everything recently, but i have been reading and keeping up.
I am staying on task pretty much with sorting through my Mom's stuff. This is what I get for ignoring all those boxes for the past six years. Perhaps half done. My DSis is not going to enjoy how much I set aside for us to go through together, mostly photos and slides a lot of them of her family.
With the climbing price of gas and groceries I stocked up a bit on heavy stuff that will cost more to transport. Today a friend and his son (growing so big so fast) helped me get a years supply (500 lbs) of water softener salt and kitty litter (100 lbs) and stow it in the basement. God bless them!
Diana--I forget, how long it has been since Sammy joined your family? Sounds like things are progressing nicely. Onyx and Calleigh finally decided to get along. Of course, Calleigh is the one to initiate any mutual cuddling and grooming of each other, but Onyx is usually quite agreeable about going along with it. It just takes time.
Mcreal-- I think you are doing a fantastic job of moving a very big mountain. The only suggestions I have to give, other than breathe, is to check into cable /internet costs. Giving up cable and using Hulu or something and the public library for movies would save me $28.00 a month. And I tend to use less television over the summer months anyway. Could you save by bundling cable/internet/phone. I'm sure you have already asked for lower rates everywhere you can. This next idea is a little off the wall--could you get your taxes appraised and reduced based on the current value of your house and by reducing the appraised value possibly reduce your insurance? Even a small reduction in your escrow payment could reduce your mortgage payment. Perhaps some fine tuning of household expenses. Really so difficult to do. One thing I have started doing since January is using an excel spreadsheet. It is so easy to see the big picture as well as note every little baby step of progress. The color coding and highlighting are great, and very encouraging! It also lets me record to the penny the expenses in each category so I always know exactly where I am at.
One thing you need to start doing immediately is start a journal of every positive thought, decision and action you make every day. We usually encourage newbies to record every penny spent for a month, but I think you need to record every little positive in your day so you can review them in a rejuvenating and restoring bubble bath with soft candles and maybe some music. You need to take care of yourself.
Have you ever considered what a GOOD example you are to your daughters. They are at the age so many young people get sucked into consumer debt. Seeing you deal with this issue will make them think twice, whether they realize it or not
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redwagon
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Post by redwagon on Apr 15, 2011 19:48:24 GMT -5
Great advice for mcreal, ladies, not sure what I could add! I'm sure it's hard to budget with such shifting numbers of people in the house depending on time of week/year. You are setting a great example for your girls, though! Oh, I'm not sure where you work, but do they have any relationships with cell companies? I know my last company got me 15% off my monthly Verizon bill (shhh... they don't know I've left and I still get the discount). startsmart - if her mortgage payment made your heart stop I fear what mine would do to you. Ah, life on Long Island... I've knocked down my debt a bunch this month, which feels great. Still getting used to blue's new paycheck. I'm tempted to send all the "extra" to debt, but I know with all the weddings/showers (first tomorrow) this summer it's best to just hang on to it. Looking forward to getting reimbursed for my two classes and knocking another $1k off. My interview went great and I'm pretty sure they'd hire me, but like last time, it doesn't feel right. The benefits at my current job are too good to leave for just any other job, so I will wait it out. Going to try to network through my NYU class instructor to get a name of someone to follow up with about a job I applied for at his company (one of the biggest publishers in the country) in the children's department (my goal department since day 1). We shall see... great interview experience though, great people, probably a great place to work, I just fear my heart wouldn't be in it. And if I'm going to stay in publishing, I need to find a position I'm passionate about. It's too thankless a job otherwise. People are mean and the industry is in upheaval lol. Thanks for the juju though! We got our wedding pictures on disc and I've been getting all sappy uploading them to my online gallery and captioning them. It was such a fun day, and I really snagged a great guy. Sometimes it's easy to get caught up in the day to day struggles, but really, I am so blessed. Kind of going along with what SES suggested for mcreal, I think we could all use a little daily positive thinking or giving of thanks. Have a great weekend ladies. I'll be bridal showering and then doing my final paper. Fun!
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spruby
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Post by spruby on Apr 15, 2011 20:29:21 GMT -5
Well I'm back from my work trip and I'm happy to say that I have no more work trips planned. So I should get to stay home at least a week! Good news on the job front - I made both short lists for the job I want at work - interview(s) should start getting scheduled next week. Plus I posted my reworked resume and talked with one recruiter already. They were super excited when I said I had no kids, no house to sell, and DH was retiring to do freelance/write - so we could move anywhere at all - for the right job/$$$$. Fingers crossed. NY was tough - was sick/still suffering from side effects of cortisone shot - but I had all NSD (everything I spent will be reimbursed) and even picked up a MOAN walking back to the hotel one evening. The discouraging part was how overwhelming male the whole thing was - ~100 people, <10 women, and I'm the only women who spoke - at all - to anyone but their own group. The guys didn't even notice. Given the nature of the work - I understand why lots of women drop out of the field or switch to different areas - but sheesh. DH is sick now, tomorrow the weather is supposed to be icky - so may just stay home and nap/catch up on house work & work work. Hope everyone is doing OK. I'll catch up this weekend
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mcreal
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Post by mcreal on Apr 15, 2011 20:35:59 GMT -5
Daughter #3 GOT THE JOB! The lost child. Finally getting some traction of her own. CELEBRATING TONITE! Thanks all for your input. Really good stuff here. I will use it all.
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redwagon
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Post by redwagon on Apr 15, 2011 21:29:18 GMT -5
Yay DD#3!!!! This calls for a dance party!
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shanendoah
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Post by shanendoah on Apr 15, 2011 22:42:38 GMT -5
WOOHOO! Karma for mcreal because I know from the WIRR West board what a struggle this has been and what an AMAZING mother she is.
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ses
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Post by ses on Apr 15, 2011 23:43:02 GMT -5
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startsmart
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Post by startsmart on Apr 16, 2011 20:56:03 GMT -5
well it's an interesting Saturday here. I slept in with the four dogs and then went out to get my phone fixed. Now watching a Hoarders marathon and cleaning my mom's office. I think their house is 10 years away from the level you see on that show. Very frustrating to see this stuff they collect.
the sleep was good because work is really, really trying right now. The person who is supposed to take over part of my responsibilities is driving me crazy. She is bringing up all my violent tendencies.
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reeneejune
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Post by reeneejune on Apr 17, 2011 0:11:48 GMT -5
So with the fall out from my fight with my aunt, I'm $200 short this month, which pretty much sucks all the way around. I've tapped out all my available credit, and I'd go pawn something for the money, except I don't own anything of value. So first thing Monday morning I'll be at the bank begging for a small personal loan. I've got my fingers crossed that considering my history with them (paid off my car loan early, never been late on my CC payment) they'll take a chance on a $200-300 loan to me. I'm also looking into peer-to-peer lending sites this weekend. Basically in panic mode. My fall back option is to borrow half the money from my BFF and talk to the apartment complex about paying the other $100 of the deposit next month. Why is it that when you're counting on someone to help you, they flake out?! Before anyone says it, yes, I'm kicking my own backside right now for not having anything in savings before moving out. If I can get through this hurdle, I'll be fine and I'll get my EF established.
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pointy
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Post by pointy on Apr 17, 2011 6:48:44 GMT -5
quick update: 13/22 NS and 16/27 No QVC
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Deleted
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Post by Deleted on Apr 17, 2011 9:29:31 GMT -5
Good Morning Ladies. Sorry I haven't been around. I have been extremely busy with work and have just felt like I really don't have much to add to the thread right now.
So here is an update on me: I just finished a long term substitute job. It was a very challenging job. I had 34 students with 7 of them being special needs. I was there for about 7 weeks. My last day there I was hired for another long term sub job for the same school district, but at another school. I will be teaching 3rd grade for about 4 weeks. It made me feel awesome to be so highly recommended for the 2nd long term job. I also got a wonderful letter of recommendation from the principal for my portfolio.
DH will be coming home from Iraq next month. He is supposed to fly to Georgia sometime mid-May. I am so excited for him to finally be able to come home! We have lived apart for far too long. After he gets home we will be preparing to move to Kansas. Our report date for there is June 30th. So it will be a crazy busy time.
July 4th we will be sailing out of New Orleans for a cruise that we have been planning and saving for almost 2 years. I was able to pay cash for it. Not one single red cent went on a credit card!
In the past year I have been able to pay off about $13K in credit card debt! I am still plugging away at it. I would have been able to pay off more, but I did have to put a new furnace in my house, I paid for the cruise in cash, and I bought my step daughter a used car. I know that a more financially responsible person would have used the money to pay off more debt, but these are things I have wanted to do for a long time. I didn't add to my debt since I used cash. In the next few months I do hope to have another $4,000 paid off before we move.
So that is my update. I hope you all are doing well. I was able to skim some of the pages, but I didn't take notes.
Have a great day.
ETA: I have also been able to save up 8 months worth of mortgage payments so that we won't be struggling to pay our mortgage while looking for a renter for our home. We cannot sell since we are about $80K underwater.
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Deleted
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Post by Deleted on Apr 17, 2011 14:58:05 GMT -5
So with the fall out from my fight with my aunt, I'm $200 short this month, which pretty much sucks all the way around. I've tapped out all my available credit, and I'd go pawn something for the money, except I don't own anything of value. So first thing Monday morning I'll be at the bank begging for a small personal loan. I've got my fingers crossed that considering my history with them (paid off my car loan early, never been late on my CC payment) they'll take a chance on a $200-300 loan to me. I'm also looking into peer-to-peer lending sites this weekend. Basically in panic mode. My fall back option is to borrow half the money from my BFF and talk to the apartment complex about paying the other $100 of the deposit next month. Why is it that when you're counting on someone to help you, they flake out?! Before anyone says it, yes, I'm kicking my own backside right now for not having anything in savings before moving out. If I can get through this hurdle, I'll be fine and I'll get my EF established. Reenee, what peer to peer sites are you looking at?
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Apr 17, 2011 15:34:04 GMT -5
mcreal- Great news!
reneejune- HUGS. I don't know what to say other than that.
ImaAngel- YAY! Are there other military in your present area where you could post your current home as being available for rent/sale/lease so that you can avoid tapping that savings if possible? I am so glad your hubby is returning home.
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