Lower rate early payoff??

The math way of organizing Credit cards says to pay off the highest interest rate first. I like saving money. Last weekend when CC#2 lowered my rate I stopped and paused. Should I now refocus on another card CC#3 with a rate of 12.9% interest and let the 9.9% ride? But I have decided to keep paying off CC#2. there are two reasons. The savings over 6 months is maybe about $180.00 total. It would have me paying off debt a tiny little earlier. BUT I have a baby coming. If I had to just pay the minimums on all my cards because of additional child care expenses it would be better to have fewer cards then lower interest rates. I don't think the change is focus is worth it. So I am following Dave Ramsey' snowball temporarily until this CC #2 is paid off. I think it should be complete by May of next year. Security is more important then $180.00 in fees. Then I will return to highest interest rate card first. It will really depend on Christmas expenses and how pay checks work while I am on short term disability and maternity leave. It is good to have an emergency fund so I know I can cover one month's expenses. Hopefully after that all the funds will kick in properly and I will be receiving a regular pay check. It will be a fine balance I am sure. My employer while a strong stable company is known for its flubs on payments. So I am a little nervous. One day at a time road traveled. One day at a time.

Cross stitch Posts

So November has arrived and I have finally finished "Smell my Feet". I love how it turned out. I will post pics of the finish when I do the finish. It has to be soon because I cant leave it abandoned for an entire year!


And to keep myself and my hands busy while I go to the Drs twice a week I need a small to carry with me project where I can just grab the project and go. So I am working on a wonderful winter sled. I started out wanting to keep it all the same as the pattern calls for but the unavailibility of some supplies will require me to re evaluate that. Some of the Rayon threads are no longer available. And truth be told I love the cotton much better. I knoww what the Colors would be in the regular cotton thread so I plan to use those and create a little pin keep or perhaps a door hanger. I love to hang little items on the china cabinet for the season. Lets see how far I get on the finish.

And in the evenings... The big project... is one I had started but had to stop. I lost heart. Really who in the heat of Aug wants to think about Santa. Well besides me... because typically I love Christmas all year round. I have considered a Christmas Room. But then thought. DH might object. LOL


This design is Song of Christmas......L&L 46 I love it. .

Marilyn Leavitt-Imblum is one of my all time favorite designers. I have also stitched

Spirit of Christmas......L&L 11
Nantucket Rose......L&L 20
Angel of Light......L&L 7
The Bride......L&L 9

hmmm and I am missing a Santa... But you get the idea. I love her designs.
This weekend I discovered a huge problem with some of the threads though. I had to pull out almost the entire left angel. Yep over 60 rows of stitches. to do over again. Something was wrong with the threads. The dye lots were not the same. They did not match. Perhaps by letting it sit for six months I aged the threads somehow and the yellowing of the one angel showed up like crazy. There was even a line in the skirt where I had changed threads to a newer brighter white. It was not a good combo. Out with the bad and a redo. Painful but I could not look at the finished piece and live with the error. Not when I have the ability to fix it now. It took two days of careful seam ripping and meticilous thread pulling to get rid of the yellowed threads. Ahhh but now she is ready to start fresh and whole and I will have a bigger sense of pride that the piece looks right.

So I feel ready for the baby to come. I have my nap time projects and the room ready. Come on little son.

Ask.... Dont forget to ask

Yesterday I decided to spend $35.00 on myself. I was talking to my DH about it and he started telling me about a feature that cc#2 has in order to make purchases online. They will issue another number to your card so that if you are unsure of the reliability of a web site you are not compromising your personal information. Great idea I thought. I use my bank debit card for everything, but this site was new to me and I was not feeling that it was all that secure. But I don't like to use my credit cards for anything but carrying a balance. No new charges keeps my debt load the same. Its a control issue. BUT.... Security is a bigger issue I am willing to transfer funds to pay off the purchase now in order to maintain my identity. Issue #1 I have never activated the card. Okay that is first.... Dial the number and activate card. Because of the length of time it has been since I rc'd card and activating it I got a customer Service person on the phone. He verified my info and activated it. He then asked me a strange question... "Is there anything I can do to keep you happy as a customer?" To which I immediately replied. Sure. Lower my interest rate. Thinking Yeah right he wont do it. I have tried this with other banks and they pass you around till you are sick of the service and give up or they finally tell you no. But this card has the highest interest rate of all the cards where I carry a balance. (I have other higher rates but I paid off CC#1 and the other cards have transfer balances of 4% & 5%) It is not a big deal for some of the cards because if you are not going to make any new purchases who cares what the interest is. I want to pay off the debt. That is my #1 focus. I will not shift it until it is done. So then he says.... I can lower the rate to 9.9. DONE I replied. Wow That was easy. (The rate was 15.99) We will see if that effects the balances I am currently carrying. If it does apply to other balances and not just new purchases I will refocus on another card to pay off first, which has a 12.99% interest rate. There is no need to give the banks MORE then they need to and if they are willing to give me a lower interest rate I am so willing to take it! Lets hear it for positive action steps. Oh yes and Issue #2 was I had not yet changed my name... So the Customer service rep went ahead and made that change for me too. Go team. I have to say they did a great job on their customer service and I think a LOT higher of this card for that reason. I have worked with a lot of banks both professionally and personally and I have to say it was a lovely experience getting a friendly person on the line who was able to accommodate me with such ease. Way to go CC#2 and me for asking for what I wanted.

I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......

Actions defining my priorities.

After reading paid twice's blog entry here (http://www.paidtwice.com/2008/11/06/actions-define-priorities/) which I read every time she posts. I started thinking about my actions and my priorities. My #1 concern is paying down as much debt as possible before the baby goes into day care and I have to shift my priorities. I spend money on my daughter and now my children. I rarely buy myself clothing. I rarely buy items to decorate the house although last month I spent $10.00 on some hand towels for the down stairs powder room. Mostly because we are having guests on thanksgiving and I want that bathroom to be clean. Sadly I spent a lot of money on food this month. Gestational Diabetes is a bear to maintain so making sure my sugar levels are where they need to be for the baby I do spend more money on foods. And the volume of food is increased from what I normally eat (even though I did not gain a single pound this week)

Last week I spent some time indulging my renewed passion in Cross stitch. So far it's just looking. I have decided that what I want for Christmas is to be able to purchase some cross stitch supplies. And I would also like subscriptions to stitching magazines. I miss the hobby. I love reading the blogs and seeing posted progress of other people's ideas. It's also going to be a long winter with a new born and I know that with my daughter it was cross stitch that saved my sanity the first time around. I fully expect for it to work again. But I want to act within the confines of my budget. Any hobby can go awry quickly with spending on things that you don't need. Cross stitch is no exception. But if DH is going to get me a gift for Christmas isn't it okay to get what I want??? It may also be possible to ask mom for stuff too. That way the big green eyed monster will keep me in check before my actions override my priorities.

Actions and priorities... Shouldn't your priorities define your actions and not your actions define your priorities?? That is to say set your goals. Decide what you really want for your life and then keep your actions within those goals. There are no perfect people so slipping up like shopping for the powder room last month are the little indiscretions that take place outside of the boundaries you have set for yourself. But coming back to realign my priorities... That's what counts. Always returning to my goals. Paying off my Credit Card debt. That is first for me. When I first began this journey I limited everything. Now that I am in the rhythm of the process its going okay.

What do you spend your money on?

Children, debt, food & shelter. In that order.

What do you go without or spend less on?

Clothing for myself. Decorating the house.

We don't get movies except on the rare occasion. As things move forward I will spend less on food. I continue to budget for work clothing. I rarely buy anything for lounge around the house clothing. We are cutting back our cable. We gave up the home phone. We use cells only.

What are you saving for?

#1 is having an Emergency fund. I keep $2000. Because I feel with children you need that extra and above the Dave Ramsey rule.

#2 is a down payment for a home and closing costs.

What percentage do you save?

I don't do it as a function of a percentage. I received some money from my grandmother and I have set aside that for closing costs. If we were to purchase a home right now we would have to finance 100% of the cost. This is possible for us because my DH is eligible for a VA loan. We have not been really looking at homes however so it's a pretty long way off.

My budget is pretty bare bones. It took a year to get there. It was NOT overnight. I want to be out of debt. It seems like a long time to go without buying pretty things for yourself. I have found that my children are Very expensive and they are my main priorities. DH is an awesome man and financially he has really kicked it up in terms of budget. We keep separate checking accounts. This is because we manage money differently and I would be really uncomfortable managing my money the same way he does. Having been married before I like it separate. We agree on common spending items and we agree on most of the priorities.

I am feeling comfortable with our choices. Health care evaluations are this weekend. I need to decide which plan will be best for us. It was much easier when its just me. and I find very difficult to plan for the unknown.

Priorities and Actions in Action….

Priorities and Actions in Action….

I have promised myself time to stitch if I finish the priorities on my desk. (Fear of leaving stuff undone is also motivating me. Labor looms...)

1) Scan Comcast bill to submit for work (Done)

2) Collect Sprint Bills (done)

3) Pay bills online (Done)

4) Call at least 2 pediatricians (DONE)

5) Look online at which Pediatrician takes my insurance (DONE)

6) Find pricing of benefits for next year. (DONE)

7) Call Dr about missing prescription (DONE)

8) Pay Hosp bills (done)

9) Mail Package to SK (Done)

10) Call Short term Disability Benefit # (DONE)

11) Fill out Finals Gift pack for DD (Done)

Those items were the stick. The carrot. Cross stitching. I needed a reward. I dont know why I thought it would be "quick" to handle. I had a lot to do. I rocked through it. Fear of labor was another stick. But in the end I did it. I got it all done.

And so here is the result of the stitching. As you can see I made some progress. All that is left is is a bit of sock and the back stitching. I am so proud to have completed this piece. I instantly fell in love with it and cant wait to finish it into a door hanger. That is this weekend priority and plan. Clean the house, pack for the hospital, and finish a few Cross stitch pieces. I will take more pics when they are done.

Last item is to find the thread boxes. We moved them somewhere. I would never abandon them.

Here ia a pic of the Cross stitch. It is a pattern by La D Da called "Smell my feet". It was in the JCS Oct2008 issue. I love it.

November goals:

November goals:


Stitching:
Finish three ornaments for Halloween.
Find 1 small project to take to Dr. Office with me

Baby:
Put pack in play in our room so baby has place to sleep
diapers
bottles
Pediatrician
Evaluate health plans

Finance:
Submit expense bills to Office
Pay bills

Good news. I paid down $961.59 in debt last month. Not quite sure how... but it worked. I am so excited. CC#2 new balance is $3170.32. Next month it will be under $3000 mark. Wahoo!!! I am rollin', snow ballen'

The pay down date according to my snowballs on http://www.whatsthecost.com/ is still Aug 2011. It seems a long way away. That works in my favor in a way. It gives me time to do slow and steady wins the race.

DH even was able to talk to the cable company and renegotiate a deal so that the cable bill dropped significantly. Feeling much better about cable. And I should get a refund from work for some of the cable expense. That will really help.


Notes for October....

I only spent $82.80 on gas last month. WOW what a difference commuting and a dip in the gas prices makes.

Eating out was another story. I spent a lot more eating out then I should. Its time to make sure I have quiche prepared for breakfast!

I also spent $207.87 on misc. Expenses. One night the power was out and I went shopping for the baby. The other times I really wanted to stitch something so I bought some items to create a project. they were small amounts but they added up quick. I will need to be more careful in November.

Cross Stitch love returns

I love cross stitch. It is a frugal hobby when you look at the time spent working compared to the cost of materials. Some projects cost more then others. I started out in Early Oct. looking to make a welcome baby sampler of some sort.I could not find a pattern I wanted. I looked all over the place but I did not feel inspired.

20 years ago I made a sampler for my aunt when My cousin was born and I started remembering how I had accomplished that. I remember charting out the name and the letters along with a picture I liked. Bingo! I started creating a plan. I could make a sampler for my son of something I want.

But in the mean time I have found a pattern I loved in the latest issue of Just Cross Stitch Magazine (JCS). it was called "Smell my feet". It was so so cute. I decided to stitch it first being in the Halloween spirit. I had decorated for Halloween around the house and I needed something to take with me to all my doctors apts.

Once I found the needle in my hands again I was content. It has been 9 months since I worked on a cross stitch project. I was discouraged at the lack of stitchers there seem to be. All the craft stores cater to the scrap bookers these days. JoAnn fabrics, Michael's, AC Moore.To find the truly awesome designs you have to really know the designers and do a LOT of research.

Then I did a search on technorati for cross stitch blogs. Well Of course if people are blogging about Personal Finance they would be blogging about cross stitch. I fell deeper in love. I am reading about projects people are working on. Looking at different finishes they use to accomplish these items. A pin keep, a pillow, an ornament, framed. The passion is back. And I realized I was making a mistake. Art is influenced by our moods and passions. I had limited myself to work on one project and one project only until It was completed. Well I had a monumental huge project that I love. But it is a Christmas Santa. and who wants to work on Santa in the middle of summer??? So why not pick up a little quickie project that you can complete and let Santa wait. Its the same theory as the Dave Ramsey snowball. Pick off the little things first. then roll you efforts onto the bigger ones. So this is what I am doing in my cross stitch work. I have almost completed the Smell my feet design. Once it is completed I will be picking up Santa again. It will be November and that is not too early to work on Santa. Plus after a feeling of accomplishment with the small project I feel like I can take on a bigger mountain.

As for my CC status. I picked off a med size one with a high rate of interest. I am working on another Med sized one with a lower but now the highest interest card rate of all the cards. I do believe I will be able to pay this one off by next summer. Then its on to card #3. I am sticking to the Debt snowball plan.

As for projects... I have Smell my feet to finish. Which I have already purchased the fabric and cording for. I have a plan for two others. I am going to work on them this weekend after the Hospital birthing class. I have been inspired by others finishes and I know I can do it. In a way this is mental clutter and planning on clearing it out feels so good. In the mean time here is a photo of the smell my feet in progress. I Will post it again after completed.

Cross stitch This is something in my life that I am really proud of. As a young girl I heard often the message when you leave a place you should leave it behind you even better then you found it. Well that is what Cross Stitch does for me. It allows me to leave beautiful things behind that lets me know I have been here...