Everything seems to be happening so slowly. I had $690 in my emergency fund and last weekend I took $90 to go out with Leslie and have fun. I blew the rest of it on fast food. I don't begrudge doing it much, because I only have so much restraint, and it's better to just take some out and have some fun than deny myself and end up going crazy and spending all of it on stuff I want but don't need. I suspected, when I read Ramsey's assertion that most people can get the emergency fund saved in a couple of months, that I wouldn't fit into that category. I just don't make enough money and I don't have anything else to sell. I already have two jobs and now I am going to start tutoring a woman who is trying to escape waitressdom by going to school but she can't get through the math by herself. I'll probably charge her $10 an hour. Every little bit helps.
I just have to be patient. The money from Vince is helping a ton, but at least half of it is going to my budget, to make up for the parts that just weren't realistic when I set the first amounts. For example the $150 for groceries just isn't realistic, given that makeup, laundry detergent, cleaning supplies, etc. comes out of that money. I had budgeted $60 for gas and that wasn't enough... it's more like $80 or $90 with gas prices so high.
Right now I have $1700 coming in my federal tax returns. I am waiting for something from the U of A because I got some fellowship money when I finished my master's this past summer. But I think I might have been taxed on it last year. If I don't get something from them today I'll go ahead and file. With that money I can finish my emergency fund and start my debt snowball. My debt snowball is different from how Ramsey says to do it because I signed up with ACCC. I have decided to pay off the small B of A loan, then the car, then the Hughes credit card that is in Mom's name. Those are the ones that are not included in the ACCC account. Then withdraw from the ACCC program and pay off those 4 accounts, smallest to largest. Then I can tackle my student loans. Freaking $40,000 of student loans... I feel like I will never pay them off before I die, and maybe I won't.
Saturday, January 29, 2011
Sunday, January 16, 2011
Wow.
A change I haven't been able to make: putting milk and sugar in my coffee instead of the creamer or hot chocolate. Can't do it, and want to use the sugar-free creamer because I use less of it than milk.
I don't have to think about how many times I am eating fast food because I can spend the "restaurant" money on that and when it's gone, it's gone. I just know I'm not going very often at all and it may indeed be once every other week. Probably it's more like once a week.
I have been scrimping on water and electricity and clipping coupons religiously.
I haven't given up my smart phone for a cheaper plan. I just haven't been able to bring myself to do it.
Vince came home and yesterday he brought a ton of food home. Now I just need a few things and I will be able to stay within the budget I set for groceries. WAY exciting.
My paycheck was big because I got my sub pay for last quarter. The money went directly to my emergency fund and now I am more than halfway to my goal of $1,000.00. Unbelievable. I am current on all my debt.
It looks like bankruptcy is not necessary, and now that I am not paying fees and my interest rates are about 1.5%, I no longer feel like I shouldn't have to pay the money back.
I haven't had any trouble dedicating the time I need to work on the budget. I have been checking my bank balance every day but once I saw that the credit card payments had been disbursed by ACCC and I am current on everything, I stopped checking those every day.
So, progress report. I started the Total Money Makeover one month and 2 days ago. In that time, I have accomplished the following:
Become current on all my debt.
Saved a little more than half of my $1,000 emergency fund.
Made a budget and did a really great job considering it's the first month.
Completely and totally changed my attitude about money.
Incredible. What a blessing.
I don't have to think about how many times I am eating fast food because I can spend the "restaurant" money on that and when it's gone, it's gone. I just know I'm not going very often at all and it may indeed be once every other week. Probably it's more like once a week.
I have been scrimping on water and electricity and clipping coupons religiously.
I haven't given up my smart phone for a cheaper plan. I just haven't been able to bring myself to do it.
Vince came home and yesterday he brought a ton of food home. Now I just need a few things and I will be able to stay within the budget I set for groceries. WAY exciting.
My paycheck was big because I got my sub pay for last quarter. The money went directly to my emergency fund and now I am more than halfway to my goal of $1,000.00. Unbelievable. I am current on all my debt.
It looks like bankruptcy is not necessary, and now that I am not paying fees and my interest rates are about 1.5%, I no longer feel like I shouldn't have to pay the money back.
I haven't had any trouble dedicating the time I need to work on the budget. I have been checking my bank balance every day but once I saw that the credit card payments had been disbursed by ACCC and I am current on everything, I stopped checking those every day.
So, progress report. I started the Total Money Makeover one month and 2 days ago. In that time, I have accomplished the following:
Become current on all my debt.
Saved a little more than half of my $1,000 emergency fund.
Made a budget and did a really great job considering it's the first month.
Completely and totally changed my attitude about money.
Incredible. What a blessing.
Thursday, January 13, 2011
the coffee
The ground coffee I bought doesn't taste bad at all, but I am still going to Costco this weekend to buy a big bag of beans. It is more economical than the ground coffee - I think - I am going to see how long a bag lasts and then I will know which one to buy.
Last night when I went with the girls to see the president, I went straight from work and had to stop for dinner. Since I had commanded the girls to go, I thought I should buy their dinner too. Since we were already at Beyond Bread, that's what we got... we were catching the bus from there, so we couldn't drive through any place. The bus cost $9.00 for the 3 of us. I spent the rest of my spending, grocery, and $10 of my gas money on the sandwiches and bus. Right now all I have in my envelopes is $10 for gas which I need to use today. The good news is I'm halfway through the month, I get paid tonight and still have $30 for groceries, $10 for restaurants, $20 for gas, and $20 for spending coming out of this paycheck. I just might make it on what I budgeted. Probably I will have to adjust it, especially for groceries, but overall I think things are going pretty good for my first month of my first attempt at a budget. If I get the sub pay I am expecting, my paycheck should be quite a bit larger than normal, so I can fit the adjustments in and then put whatever is left toward my emergency fund.
Ramsey says that if you make $20,000 a year or less, you should have $500 in your emergency fund. Otherwise put $1,000. Last year I made somewhere around $33,000. I wonder if I should stop my emergency fund at $750 or so since I am not making that much more than what he considers very low wages.
Last night when I went with the girls to see the president, I went straight from work and had to stop for dinner. Since I had commanded the girls to go, I thought I should buy their dinner too. Since we were already at Beyond Bread, that's what we got... we were catching the bus from there, so we couldn't drive through any place. The bus cost $9.00 for the 3 of us. I spent the rest of my spending, grocery, and $10 of my gas money on the sandwiches and bus. Right now all I have in my envelopes is $10 for gas which I need to use today. The good news is I'm halfway through the month, I get paid tonight and still have $30 for groceries, $10 for restaurants, $20 for gas, and $20 for spending coming out of this paycheck. I just might make it on what I budgeted. Probably I will have to adjust it, especially for groceries, but overall I think things are going pretty good for my first month of my first attempt at a budget. If I get the sub pay I am expecting, my paycheck should be quite a bit larger than normal, so I can fit the adjustments in and then put whatever is left toward my emergency fund.
Ramsey says that if you make $20,000 a year or less, you should have $500 in your emergency fund. Otherwise put $1,000. Last year I made somewhere around $33,000. I wonder if I should stop my emergency fund at $750 or so since I am not making that much more than what he considers very low wages.
Monday, January 10, 2011
Sunday, January 09, 2011
Patience!
This whole process is going to take a long time and I will have to be patient. At some point I hope I will stop feeling the need to check my account balances almost every day. I should only need to spend time on my finances twice a month, when I get paid.
One of my B of A accounts does not qualify for my debt reduction program because the balance on the account is less than $500. Stupid!
My laptop is seriously on its last legs. It's going to give out and I will be unhappy. I will feel deprived and I might get desperate and crazy and do whatever it takes to get a new mac.
My FSA debit card finally came so I don't have to front cash for my prescriptions for a while.
My cash is going fine so far. I didn't budget enough for groceries though. I have about $50 for the rest of the month and it's only the 9th!
One of my B of A accounts does not qualify for my debt reduction program because the balance on the account is less than $500. Stupid!
My laptop is seriously on its last legs. It's going to give out and I will be unhappy. I will feel deprived and I might get desperate and crazy and do whatever it takes to get a new mac.
My FSA debit card finally came so I don't have to front cash for my prescriptions for a while.
My cash is going fine so far. I didn't budget enough for groceries though. I have about $50 for the rest of the month and it's only the 9th!
Sunday, January 02, 2011
2 things
First, it is really difficult to adjust to this cash thing. I had no idea. On my cash flow sheet, I will have about $50 in my bank account from tomorrow until my next paycheck on the 14th. When I look at it, I have instant anxiety. Nearly 2 weeks without any money?? How will I manage? I have to remind myself that I have cash in envelopes for all the things I will need between now and then. My gas, groceries, restaurants, and misc envelopes all have sufficient money in them (I think) to get me through the next 2 weeks. Total change of mentality! It's going to take some getting used to. I worry that I will forget about the cash and use my debit card. I think I will put the debit card into a pocket in my wallet so that if I go to use it, it won't be there and I will remember to use the cash.
Second, I am spending a LOT of time on this. I'm pretty sure that after a few months, it won't take so much effort to make sure I have everything in order. I just don't see myself devoting the time that is necessary to keep it all straight after I start work again tomorrow. Typically I am so tired when I get home that I really don't do anything except eat dinner and watch TV for 3 hours or so before I go to bed. We'll see what happens. If everything goes according to plan, I won't have to do anything for the next 2 weeks, until I get paid again.
Second, I am spending a LOT of time on this. I'm pretty sure that after a few months, it won't take so much effort to make sure I have everything in order. I just don't see myself devoting the time that is necessary to keep it all straight after I start work again tomorrow. Typically I am so tired when I get home that I really don't do anything except eat dinner and watch TV for 3 hours or so before I go to bed. We'll see what happens. If everything goes according to plan, I won't have to do anything for the next 2 weeks, until I get paid again.
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