My budget is already out of whack for the month of February.
First of all, my hair dryer died so I needed to buy a new one. That was the least of my worries, though. I did my taxes Friday night, and I owe the state $901. I am not pleased! However, my parents are graciously giving me a gift of $901 to send in to cover it. Bullet dodged. I didn't ask them for the money--they offered of their own accord. I am only getting $89 back from the feds, but it beats having to pay them.
Second, those pesky overdraft fees did hit--to the tune of $105. I called my bank, only to speak with the most unhelpful customer service person ever. However, when I went to visit my branch in the afternoon, and talked to my personal banker, she did everything she could to listen to me and e-mailed her supervisor to see about getting some of those fees refunded. Hopefully, that will happen--if not, it's a stupid tax on my part. I really like my bank, so I'll be disappointed if this can't be fixed (even partially).
I explained to my personal banker about wanting to pay off my credit card, and she said that the bank has a credit card with 0% interest for 6 months and then 9.99% after that. It's a way better rate then what I have now, so I applied for the card and will be moving that balance over. Then at least all monies I pay go to the principal.
Finally...she told me that my credit score is 717!!! This is absolutely wonderful, even though I no longer believe in using credit. It will still help me in a few years when I'm ready to get a house. Now...remember, I'm 24 years old so that is an extremely high score for my age. =)
Today I'm on a mission to find a part time job. I'm hoping to either be a server in a restaurant, or to cocktail waitress at a bar or lounge. My good friend Y is coming with me because she's looking for a side gig as well. It would be nice to work somewhere with a friend!
Saturday, January 31, 2009
Thursday, January 29, 2009
Possible Overdraft Fees
I was really excited for today. I had budgeted so well since my last payday, and I was sure I'd have about $100 to move into savings.
Not only was I wrong, I might be hit with some overdraft fees tonight!
I thought all my bills for January had been paid, but I was wrong. The fees for my ninjutsu dojo hadn't been taken out yet. I have them set up on auto-draft and I completely forgot that they are paid on the 28th each month. So that came out last night, and then this morning I had grabbed an Egg McMuffin at McDonald's (paid for with my debt card). I checked my account balance a little bit earlier, and saw that I was -14.23. Yikes!!!
So immediately I transferred funds from savings to make my checking account positive, and then I called my bank because I didn't see any overdraft fees yet. They said that:
- Since I moved the funds over before 2 p.m., they will officially "post" at midnight.
- Whether or not I am hit with fees depends on if the merchants submitted paperwork for the pending transactions to be posted at midnight tonight. Both my ninjutsu fees and McDonald's are pending, as are a couple other things. But the customer service lady said that I moved enough for everything to clear--and the most important thing was that I had done it before 2 p.m. so it could be processed with today's business.
I get paid at midnight tonight (direct deposit) but that doesn't offically "post" until midnight tomorrow--so while it'll be "available," it can't help me avoid possible fees. Ugh.
I won't be able to see if fees were assessed until tomorrow morning. If they are, I'm going to call and ask for a refund. I know it's my own fault, but since this never happens they may be able to do it as a courtesy. If they can't be refunded, I'll probably be paying an overdraft fee stupid tax.
Next month, I'll be using cash envelopes and therefore hopefully avoid this whole scenario from happening again. =)
At least it's going to be payday. I will update tomorrow with what happens with this.
Tuesday, January 27, 2009
A Moment of Thanks
After hearing about yesterday's 71,400 job cuts, I just want to take a minute to post how thankful I am that I have a great job that I absolutely love, that is very secure. Although I'm not on a continuing contract (also known as tenure), I will get that after I teach in my building for 3 more years. So I know it's coming.
I have not heard any rumors about positions being cut where I work currently--in fact, they're always hiring new teachers each year. They are also building a new middle school right now.
So, I feel pretty safe. And I am incredibly thankful and blessed that I was able to find my job. I hope that all those people who were laid off will be able to make it through these tough times and be able to support themselves and their families.
I have not heard any rumors about positions being cut where I work currently--in fact, they're always hiring new teachers each year. They are also building a new middle school right now.
So, I feel pretty safe. And I am incredibly thankful and blessed that I was able to find my job. I hope that all those people who were laid off will be able to make it through these tough times and be able to support themselves and their families.
Sunday, January 25, 2009
February Budget
Payday is coming up on Friday, so with that in mind, I'm going to post my February budget. Please comment and tweak where you see fit!
Income: ~$2,200
I'm not sure on the exact amount yet because I just changed my tax withholdings, and I'm finally on the correct salary scale at work beginning this month, so I'll find out when it's direct-deposited Friday.
Rent: $600
Utilities: $75 (electric and water are on one bill; I don't have any gas appliances)
Internet: $50
Cell Phone: $83
Car Payment: $264
Car Insurance: $90 (this will go down in March--a separate post on that will be written soon!)
Discover Card: $81
Ninjutsu/Kickboxing Class: $110
Ninjutsu Weapons: $36 (these are required, and Sensei will kill me if I procrastinate on this any longer)
Summer Savings: $150
Prescription: $30
Doctor Co-Pay: $20 (I have another doctor's appointment besides the dentist in February)
Food: $150
Gas: $150
After all those expenses, that leaves me with $401. However, next month is when I am going to the dentist, so I know I'll be spending $59 for the exam and at least $80 for the cleaning. If they require me to have the x-rays in order to take me as a patient, I'll have just enough to cover that--but I'm really hoping that if I'm polite but firm and promise to come back in a few months for them after I can save up for it, they'll let it go for now.
Some other notes:
Income: ~$2,200
I'm not sure on the exact amount yet because I just changed my tax withholdings, and I'm finally on the correct salary scale at work beginning this month, so I'll find out when it's direct-deposited Friday.
Rent: $600
Utilities: $75 (electric and water are on one bill; I don't have any gas appliances)
Internet: $50
Cell Phone: $83
Car Payment: $264
Car Insurance: $90 (this will go down in March--a separate post on that will be written soon!)
Discover Card: $81
Ninjutsu/Kickboxing Class: $110
Ninjutsu Weapons: $36 (these are required, and Sensei will kill me if I procrastinate on this any longer)
Summer Savings: $150
Prescription: $30
Doctor Co-Pay: $20 (I have another doctor's appointment besides the dentist in February)
Food: $150
Gas: $150
After all those expenses, that leaves me with $401. However, next month is when I am going to the dentist, so I know I'll be spending $59 for the exam and at least $80 for the cleaning. If they require me to have the x-rays in order to take me as a patient, I'll have just enough to cover that--but I'm really hoping that if I'm polite but firm and promise to come back in a few months for them after I can save up for it, they'll let it go for now.
Some other notes:
- I didn't budget for entertainment, because whenever C and I go out, he always pays. He has to go to some Army training stuff for a couple weeks in February, so he won't be around, but I usually just hang out at home and entertain myself online or get stuff done around the house. I spend time with my neighbor a lot, and it doesn't cost any money to have a board game or video game or movie night at home. We also cook dinner for each other during the week and eat so we can catch up (as opposed to spending $ to go out to dinner!).
- Valentine's Day is next month--C will be gone on the actual day, so we'll be celebrating it late. That means that I can get chocolates and and a card for him on sale the day after when they're all marked down a whole bunch! =)
- Since I'm trying to make sure I have enough money for summer, I don't have much of a debt snowball going currently. I've just been moving all extra into my savings account. I'd rather have too much than not enough, and I can use all the extra cash later on as a huge snowball all at once.
- I'm doing without buying any new clothes, or "stuff." Definitely not needed, nor do I have the space in my one bedroom apartment anyway! =)
- Items like shampoo, soap, toothpaste, laundry detergent, toilet paper, etc. are included in the Food category.
Friday, January 23, 2009
Second Job.
I really wish I could pick up a second job to speed this whole process along. Dave Ramsey calls for "gazelle intensity" which means doing anything and everything within your power to increase income to get out of debt faster.
However, I can't see myself getting a second job right now. Any part-time employer would have to be willing to work around the schedule for my full-time job. Many times, we have faculty meetings that we don't find out about until the day of, or at most, the day before, so a second job would have to be willing to let me be late if that happens since my career comes first. On top of that, I refuse to give up my ninjutsu classes. They keep me sane and balanced and they are a lot of fun. So, that's another thing an employer would have to be willing to work around. I can't see myself being hired *anywhere* with such limited availability right now.
So, for the time being, I will budget well, and focus on teaching (which is my career job). I'm off in the summer, so for those couple months I'll find a part time position and attempt to work close to full-time hours to make up for not working two jobs now!
However, I can't see myself getting a second job right now. Any part-time employer would have to be willing to work around the schedule for my full-time job. Many times, we have faculty meetings that we don't find out about until the day of, or at most, the day before, so a second job would have to be willing to let me be late if that happens since my career comes first. On top of that, I refuse to give up my ninjutsu classes. They keep me sane and balanced and they are a lot of fun. So, that's another thing an employer would have to be willing to work around. I can't see myself being hired *anywhere* with such limited availability right now.
So, for the time being, I will budget well, and focus on teaching (which is my career job). I'm off in the summer, so for those couple months I'll find a part time position and attempt to work close to full-time hours to make up for not working two jobs now!
Thursday, January 22, 2009
No Las Vegas
Me and C's Las Vegas trip is a no-go. His leave request was denied, because his unit is going to Louisiana to train for a month in May, and the tentative dates for our trip fell too close to when they'll be leaving (we would have gone in late April). In case it's not obvious, he is a military guy. ;)
We are both disappointed, but the silver lining to this is that I can put the $500 cash that I was going to spend on this trip to paying down the Discover Card instead! I think that the universe is trying to tell me something about that. Now I am even more anxious for all my W2's to get here.
We'll go to Las Vegas someday...when I am debt free, and can *truly* enjoy it!
We are both disappointed, but the silver lining to this is that I can put the $500 cash that I was going to spend on this trip to paying down the Discover Card instead! I think that the universe is trying to tell me something about that. Now I am even more anxious for all my W2's to get here.
We'll go to Las Vegas someday...when I am debt free, and can *truly* enjoy it!
Wednesday, January 21, 2009
Dental Expenses
At the end of February, I have a dental appointment scheduled. I have not seen a dentist in over two years, because I was not insured. I was supposed to become insured as of January 1 through my employer, but due to a paperwork snafu, it didn't happen.
As a result, I have to pay for this dentist visit out of pocket (and all subsequent visits this year). I got the name of my new dentist from a co-worker. When I called, to schedule my first appointment, the receptionist said that the exam is $59, x-rays are $199, and cleanings start at $80 but it could be more based on the type of cleaning I need. I'm sure I'll need far more than the low-end one given the amount of time it's been since I last had a professional cleaning.
Ouch!
I already know I can't afford the x-rays--there's just no way I'm touching my summer money to do it. Going on a payment plan is out of the question, too. I'm going to firmly, but politely, explain to the dentist when I go that I do not believe in payment plans, and therefore will not allow x-rays to be done at this time. Hopefully, that will work. I have been warned that some dentists refuse to take you as a new patient unless you have the x-rays done, so I'm hoping that's not the case. What I can do though is promise that I will have the x-rays done over the summer, when I'll be working at a second job. I'd like to get my teeth cleaned 3 times a year from now on, anyway.
Provided he'll still do an exam, with no x-rays, and clean my teeth, I can pay for those out of pocket without touching savings--but it will make February a really tight month.
I wish I could just wait to go until I'm insured, but at this point that's not an option anymore. It's been too long, my mouth feels really yucky, and I don't want my teeth to rot and fall out (ha!). I'm lucky that in my 24 years, I have never had a cavity! =)
Any readers have tips on how to deal with explaining to a doctor that I cannot go into debt over dental or even just normal medical procedures, and therefore need to refuse a routine thing until I save more money?
As a result, I have to pay for this dentist visit out of pocket (and all subsequent visits this year). I got the name of my new dentist from a co-worker. When I called, to schedule my first appointment, the receptionist said that the exam is $59, x-rays are $199, and cleanings start at $80 but it could be more based on the type of cleaning I need. I'm sure I'll need far more than the low-end one given the amount of time it's been since I last had a professional cleaning.
Ouch!
I already know I can't afford the x-rays--there's just no way I'm touching my summer money to do it. Going on a payment plan is out of the question, too. I'm going to firmly, but politely, explain to the dentist when I go that I do not believe in payment plans, and therefore will not allow x-rays to be done at this time. Hopefully, that will work. I have been warned that some dentists refuse to take you as a new patient unless you have the x-rays done, so I'm hoping that's not the case. What I can do though is promise that I will have the x-rays done over the summer, when I'll be working at a second job. I'd like to get my teeth cleaned 3 times a year from now on, anyway.
Provided he'll still do an exam, with no x-rays, and clean my teeth, I can pay for those out of pocket without touching savings--but it will make February a really tight month.
I wish I could just wait to go until I'm insured, but at this point that's not an option anymore. It's been too long, my mouth feels really yucky, and I don't want my teeth to rot and fall out (ha!). I'm lucky that in my 24 years, I have never had a cavity! =)
Any readers have tips on how to deal with explaining to a doctor that I cannot go into debt over dental or even just normal medical procedures, and therefore need to refuse a routine thing until I save more money?
Monday, January 19, 2009
Taxes and Travel
Right now I'm playing the W2 waiting game. I'm a little bit nervous, because three of my four W2's are coming from former employers in another state. I had to contact each with my new address, and I'm not sure if I gave them sufficient enough warning for them to be mailed to the right place. For one of them, I can retrieve it online so it's a non-issue, but I'm still nervous about the other two. I want them as soon as possible so I can go over to H&R Block and do everything ASAP. The fourth one, from my current employer, won't be a problem obviously!
In 2008, I had a full-time job, a part time job on top of it due to sub-standard pay at the full-time gig, and then in the summer I went back to a former job that I had enjoyed. So that is why I have so many W2's that will be coming! I'm looking forward to doing my taxes because in 2008, I made the most money I have ever made in a year so I should be getting a really awesome refund.
I also pulled my Discover Card statements from July and August up today, and added up my deductions for traveling to interview and moving. The total amount I'll be able to write off will be $1,165.04! That will be really nice, and should boost my total refund amount a little.
In other news, C and I are planning a trip for April when I have spring break. We will probably be going to Las Vegas. I have never been there, and after comparing prices we found that it's cheaper to go to Vegas than it would be to go on a cruise (even if we drove down to the port!). I will be able to pay cash for my plane ticket and my part of our hotel, and then C said that he would pick up the tab for everything else when we're there. So even though food, shows, cover charges to clubs and all that are extra, I won't have to budget that in--though I will probably set aside a small amount of money for shopping and gambling! I am so lucky to have a debt free boyfriend who spoils me rotten. ;)
I wish we could book now, but I'm waiting for the above mentioned tax refund to come because otherwise I'd have less than I'm comfortable with in savings. I know that some readers would argue that I shouldn't go on a trip when I'm in debt still, but the way I see it is--I'm paying cash so I will be able to truly enjoy it. I won't have to dread incoming bills from it whatsoever. And it's not a super extravagant expensive trip. It'll basically be a long weekend! I am very excited.
I will be sure to post as my W2's trickle in, and further updates about trip planning as well.
In 2008, I had a full-time job, a part time job on top of it due to sub-standard pay at the full-time gig, and then in the summer I went back to a former job that I had enjoyed. So that is why I have so many W2's that will be coming! I'm looking forward to doing my taxes because in 2008, I made the most money I have ever made in a year so I should be getting a really awesome refund.
I also pulled my Discover Card statements from July and August up today, and added up my deductions for traveling to interview and moving. The total amount I'll be able to write off will be $1,165.04! That will be really nice, and should boost my total refund amount a little.
In other news, C and I are planning a trip for April when I have spring break. We will probably be going to Las Vegas. I have never been there, and after comparing prices we found that it's cheaper to go to Vegas than it would be to go on a cruise (even if we drove down to the port!). I will be able to pay cash for my plane ticket and my part of our hotel, and then C said that he would pick up the tab for everything else when we're there. So even though food, shows, cover charges to clubs and all that are extra, I won't have to budget that in--though I will probably set aside a small amount of money for shopping and gambling! I am so lucky to have a debt free boyfriend who spoils me rotten. ;)
I wish we could book now, but I'm waiting for the above mentioned tax refund to come because otherwise I'd have less than I'm comfortable with in savings. I know that some readers would argue that I shouldn't go on a trip when I'm in debt still, but the way I see it is--I'm paying cash so I will be able to truly enjoy it. I won't have to dread incoming bills from it whatsoever. And it's not a super extravagant expensive trip. It'll basically be a long weekend! I am very excited.
I will be sure to post as my W2's trickle in, and further updates about trip planning as well.
Sunday, January 18, 2009
No More Mail
A few days ago, I sent a "secure message" to Discover Card online. They are constantly sending me those pesky cash advance checks and related service ads that they want me to enroll in. I'm sick of the extra paper mail and wasting time shredding it all and throwing it in the trash.
Today I got my response:
I also finally switched to online-only statements from my bank. I always view them online and I never open the paper ones they mail me. So that should reduce extra mail too!
Little things like these help me keep fighting the debt fight. =)
Today I got my response:
Thank you for your recent inquiry about the volume of solicitations you receive. I understand your concern and will be happy to assist you today!I am really glad I took the time to do this. Hopefully, all that annoying snail mail will stop coming in from them now!
Although your request will be processed immediately, we ask that you allow a reasonable amount of time for the check and solicitation mailings to stop. This is because marketing campaigns may have begun prior to your request.
Please be assured that Discover Financial Services, LLC., does not hold Cardmembers responsible for any unauthorized charges made with these checks.
I appreciate your business and the opportunity to be of service. Thank you for choosing to use Discover Card.
Sincerely,
Natalia
DISCOVER, CASHBACK BONUS and the other trademarks, logos and service marks used in this e-mail are the trademarks of Discover Financial Services or their respective third-party owners
I also finally switched to online-only statements from my bank. I always view them online and I never open the paper ones they mail me. So that should reduce extra mail too!
Little things like these help me keep fighting the debt fight. =)
Friday, January 16, 2009
A Small Windfall
Today in the mail, I received a check for $50 from my grandmother. It was a belated birthday gift. I couldn't get to the bank before they closed, so I won't be able to deposit it to savings until Tuesday (thanks to MLK Day on Monday). However, when I do, my balance will be close to $900!
I get paid again January 30 (I only get paid once a month). On payday, I will be moving any leftover cash from checking into savings--which should be between $60 and $75. Additionally, I will be putting $150 from my paycheck in savings, too. So, come January 30, I will have around $1,100 in my savings account.
Dave Ramsey says to cap out your baby emergency fund at $1,000, but since I am on 10 month pay, I need to save enough to make it through the summer. I plan on continuing to save at least $150/month through the end of the school year, adding my end-of-year bonus to my summer account (which should be about $2,500), and also putting part of my tax refund in it. I'd rather have too much than not enough, and then the extra can go to debt once I make it through July and August. It goes without saying that I'm going to work somewhere too, for extra money!
The old me never would have planned for summer--I probably would have just lived off a credit card. So this is huge for me!
I get paid again January 30 (I only get paid once a month). On payday, I will be moving any leftover cash from checking into savings--which should be between $60 and $75. Additionally, I will be putting $150 from my paycheck in savings, too. So, come January 30, I will have around $1,100 in my savings account.
Dave Ramsey says to cap out your baby emergency fund at $1,000, but since I am on 10 month pay, I need to save enough to make it through the summer. I plan on continuing to save at least $150/month through the end of the school year, adding my end-of-year bonus to my summer account (which should be about $2,500), and also putting part of my tax refund in it. I'd rather have too much than not enough, and then the extra can go to debt once I make it through July and August. It goes without saying that I'm going to work somewhere too, for extra money!
The old me never would have planned for summer--I probably would have just lived off a credit card. So this is huge for me!
Thursday, January 15, 2009
The Journey to Freedom
Being debt free has always been a dream of mine. I didn't know how I could singlehandedly go about doing it. After all, it seemed like an insurmountable obstacle. It was a very scary thing, to add up all my debts and realize that I owed a grand total of $28,883 to different people. Almost a full year's salary in my case!
However, I didn't let it get the best of me. First, I gave thanks. I got a new job in 2008, and although it required me to move 600 miles, it was for the best. I couldn't be happier in that respect. The negative part was that I added $3,000 in credit card debt between traveling to interview and moving itself because I just didn't have the cash in savings. I'm still working my way out of that hole. After I got situated in my new home, I sat down with all my bills and added up the grand total. I owed on my credit card, my auto loan, a Federal Stafford student loan, two medical bills, and I also had to pay off an apartment lease that I broke when I got my job offer.
Soon after I started at work, I got the first part of a signing bonus I was promised. That went toward my credit card and paying off the two medical bills. Later, I got the remainder of the bonus which allowed me to pay off my old leasing company and to put another $1,000 toward my credit card debt. Then, after some investigation, I found that my Stafford loan qualified for teacher loan forgiveness because of the school I started teaching in. I put in the paperwork for that, so that eliminated another $11,000 of my debt. It's still "technically" there because I have to work in my building for 5 years before the balance is cancelled, but I plan on staying. *knock on wood*
So...here I am. All I have left to get rid of is my lone credit card and my auto loan, and I will be free! The purpose of this blog is to chronicle my journey, as well as to offer advice and encouragement to anyone who is following the same road.
Like the ninja says, "Ha-ji-meh." (Let us begin!)
However, I didn't let it get the best of me. First, I gave thanks. I got a new job in 2008, and although it required me to move 600 miles, it was for the best. I couldn't be happier in that respect. The negative part was that I added $3,000 in credit card debt between traveling to interview and moving itself because I just didn't have the cash in savings. I'm still working my way out of that hole. After I got situated in my new home, I sat down with all my bills and added up the grand total. I owed on my credit card, my auto loan, a Federal Stafford student loan, two medical bills, and I also had to pay off an apartment lease that I broke when I got my job offer.
Soon after I started at work, I got the first part of a signing bonus I was promised. That went toward my credit card and paying off the two medical bills. Later, I got the remainder of the bonus which allowed me to pay off my old leasing company and to put another $1,000 toward my credit card debt. Then, after some investigation, I found that my Stafford loan qualified for teacher loan forgiveness because of the school I started teaching in. I put in the paperwork for that, so that eliminated another $11,000 of my debt. It's still "technically" there because I have to work in my building for 5 years before the balance is cancelled, but I plan on staying. *knock on wood*
So...here I am. All I have left to get rid of is my lone credit card and my auto loan, and I will be free! The purpose of this blog is to chronicle my journey, as well as to offer advice and encouragement to anyone who is following the same road.
Like the ninja says, "Ha-ji-meh." (Let us begin!)
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