New Year - Refreshed goals

Typically I like reading other blogger s new years goals and their year long wrap ups. To my horror I looked at my blog and have not posted since July. Wow. I am not sure where all the time passed to.

In quick summary I have had a new DD child#3. She is beautiful and wonderful I am so happy she is here. She arrived via C-section so my recovery was slow. I also fought mastitis, bladder infection and nursing. Toddler adjustments to a little sister being born were tough but he is handling it OK and we are on the road to being a happy family. Lots of family visitors this time and my DD#1 home from school. In Nov I returned to work for 2 weeks only to skip out again for Thyroid surgery. It took a LOT of effort on family to make that happen and I cant say enough how grateful to my mom I am that she came for a stay.

So here we have arrived at the end of December.
Yesterday was an insane day and I want to blog about the choices I made.
As this is pretty much a pf blog lets look at yesterday from a financial perspective. I am still not sure I made the right choice and I am a bit nervous about it. It really helps me to see things written down

Yesterday was Health Care. So here we go...

Currently I have been paying $578.26 per month

If I left my health care alone it would cost me $855.82 per month. So Obviously we are NOT going to spend that kind of money

The PPO plan is $369.28 per month
The ALT plan is $288.64 per month

So.... I am going with the ALT plan. It makes me nervous but we are going to try it for one year to see if we like the plan. If I don't like it, I will change it to the PPO. We are done with the HMO.

I will save $289.62 per month by making the switch. That adds up to $3475.44 per year. Hmmmm that is two credit cards in a year. Well there is the reason right there to do it. Done. I just needed to see it in black and white. And if we end up paying a lot of $ out of pocket will deal with it when it comes.

Here were my last years goals:

1. Pay off 28,077.53 amount of debt, or this year about $9000.00. That equates to $750.00 per month. I am budgeting about $800.00 to debt but some of that is interest. So we’ll see how I do.
2. Lose 20 lbs
3. Learn to be a SharePoint developer/programmer

#1 was not so hot. Over the course of the year despite paying down some debts here and there they were also increased here and there the net sum for the year: I paid down $ 581.81 total. UGH So goal #1 will be renewed. Pay off $9000.00 of debt.

#2 I have indeed lost 20 pounds. Goal for 2011 Keep it off and loose 20 more.

#3 I did not start a blog and I did not write enough code to be considered a developer. But that is a higher priority this year. Baby is here. No more kids I have the IUD to prove it. Focus is going to be on self and career. Because if I truly want to get out of credit card debt I will have to increase my salary. I have one more year at my employer so they pay the % of my DD tuition. After that I want the economy to be solid enough to risk looking. But I think I can do it. I just have to sharpen a few skills first. So Goal #3 is really #1 and I have a plan on how to accomplish it.

I have a SP environment in which to practice writing code
I have 3 developer books that I can use
I WILL sit down each morning for 1 hour per day and write code. To be a good author you have to journal and write every day. Same with programming to be a good developer you have to write code each Day. The blog has somewhat successfully helped me to be accountable to my finances and I hope the same effect will happen with SharePoint.

So there we go nothing new under the sun except t scars and a beautiful daughter. Good bye 2010. Welcome 2011!

Raise Update

Well I said I would post an update to all the events that have been happening. This is number 4 on the list.

My Raise is on my mind today because as I was going through old text files and posting them I came to the origional post I had written to be excited I was getting a raise and how I was going to re-invest it into my savings.

Well... it turns out that my raise ended up being an increase of $2.57 yep you read it right. The cost of medical benefits went up on July 1 just as my raise came in. And basically it all went to the cost of health care. (And people wonder why the middle class can't get ahead?)

I also received an email today from the parking services. They are raising the cost of parking to be 120 bucks. (I think that works out to an increase of $5.00 per pay period.) Now because my raise was $2.57 per pay period. I am about to be $2.50 in the hole.... till January when I switch my medical benefits plan. And that is before I jump to the next bracket in health care once my DD is born. Ahhhh Sigh.

Well. There it is. Another year of a wash in increase in pay. I really need a moonlighting position. I just don't know what I can do. I have web dev skills, I have book keeping skills. Its finding the clients that want those skills and will allow me to work from home that is the challenge.

All things considered I am glad I got the raise because otherwise this post would be about keeping my health care benefits is costing me money to work and what are my options. As it stands I am still making the change to a different plan in Jan. I hate the plan I have. But I am taking maximum advantage of it... C-Section, tubes in my son's ears and thyroid surgery. At least they didn't make any money off me ;-)

I am becoming a yard sale junkie.

I am becoming a yard sale junkie.

Early on this summer I found a yard sale with kids stuff and I got a little Tykes slide for $8.00 Total bargain. Every kid in the neighborhood has tried it out in one way or another.

In the spring I had really awesome success at a consignment sale near my home. I had gone there the year before and I had good success getting clothing items for my infant son. So knowing I am going to need items for two small kids now... I looked online to see if they were having a sale again. They were. And there was an added bonus that if I sent in a check for $10 I could get in the door at 7:30. Vs 8am when they let in the rest of the crew. I knew all the big items last year were sold early. I also knew that I want to get a swing for my new baby we did not get one for our son and I think it would have helped. So I sent in my payment and made a plan with my husband that I would be getting up and out of the house early and he was to be in charge Sat morning. (Getting him to agree should be easier... Sigh)

With an execution plan in my head, list of needed items in hand I set off to the school where the sale was being held. Parking was crowded but not awful. I found the correct early bird line and hopped on. When they let us in I went right over to the big equip items. There were about 9 or 10 swings there. I picked one that was reasonably priced looked clean enough and headed over to the purchase area (this took all of 5 minutes) I went out to my car and placed the item in the trunk. I then returned to the entrance and re-entered the sale. I started shopping for the rest of the items on my list. I looked at the bedding. And there was the cutest bumper crib set. Pink and green a perfect match for the quilt I have in mind to get for the Oct baby. it was priced 1/2 of the online ones I have seen and very gently used. I was thrilled. I also found a hand made pink blanket and a few girl clothes. I had good success with the boy clothes although the pickings are much slimmer for the larger sizes.

So now I have been looking online and they are having another sale on 09/25. I have resolved to cross my legs and wait to have this baby till 10-1 so I can get DS's winter clothes. Keep your fingers crossed. I saved A LOT of cash buying used clothes. Its been a great find.

Focusing on what I want most.

http://frugalbabe.com/2010/03/10/focusing-on-what-we-want-most/

Inspired by the link above...

Focusing on what I want most.

My priorities
1) my daughters college degree
2) I would like to be debt free
3) I would like to own my own home in which I can retire mortgage free
4) Surrounded by my loving family who I love in return.

What I want vs what I want right now.

Right now I want to go back to bed. But That could cause me to loose sick time and take away from maternity time I am planning to take in October.It is important to me to have "bonding time with my new baby so I will stick it out here at work.

I recently had a conversation with my DD. She was making a stew out of everything going haywire in her life. I tried to help her refocus on only what was important to solve for today. I asked her how do you eat an elephant? One bite at a time. Keep a smaller focus in order to truely achieve your dreams.

She understands but is often surrounded by girls who do not share the same long term perspective. She gets frustrated by the fact they want to be soccer moms and drive a mini van. While she is looking forward to her career. It is often still a choice, despite more equality in the workplace, to have children vs a career. I was often of the Mrs degree. I still think I would like to smack that 20 year old child in me and say you are going to have to work for the rest of your life. Make sure you like what you do. focus on the work part because the marriage and kids is the easy part. Sigh... I knew so little. Yet as life journey continues I like where I am in general. I have a few sources of discomfort I want to be debt free. It causes me a lot of stress. I want to live in my own home instead of paying rent forever. But when you pull back from the details of day to day living I am happy with my Husband and family. I am proud of my DD,and DS and look forward to a second DD on the way. Most days I think I am utterly insane for being pregnant again. But I know I want to have children around me for a long time. My husband wanted to be a dad so crazy as it is, it is done with love. Who knows how it will turn out but I too want to live until I am 90 and so I must act as if that will come to pass. And take steps to ensure it will take place.

Some days I get the money I wants. I want a higher paying career, I want my masters degree, I want the super-sized McMansion. None of those things is unreachable, I just need to make them a priority. Yet I tend to fall back to the simple top 4 listed above. The first is almost achieved. Once it is accomplished I will turn to debt and a home search in a more intense way. I let myself fantasize about the McMansion. If you don't enjoy a good daydream whats the use of envisioning something? But when I envision the details of the dream most of the time I see happy children running in the back yard while my husband and I enjoy a glass of wine with each other or with friends. The location is less important then the scene I paint. Perhaps it comes from my family home which was a large colonial in the suburbs. Where we live now is just costly. We could get a LOT more house for less if we lived in another part of the country. But my#1 choice is where my brother returned to last year in June. He has just become employed after one fill year of unemployment. The prospect is not appealing. We will stay where we are for a while longer.

July Updates

1) my DD school has been resolved and I will be sending her off in August for the fall semester.

2) We took the cheapest vacation ever in our lives and I will have to crunch the numbers on that later. I am pleased

3) My DH is crunching numbers for daycare and a new car - enntire post coming on that

4) My raise came in. And there was an increase to the cost of my benefits. Result: my raise was $2.57 yep you read it right.

5) I am crunching numbers today and I will be posting the results of vacation, car payments, and daycare payments

more of details matter...

So after waiting a few days for my DD's school to get the paperwork I decided to follow up...

Where is the grant money not showing up in the billing statement?
Where is the PLUS loan information I have applied for?
Why is the PLUS loan not showing up on the billing statement?

Oh.... You have another form that needs to be filled out that never got sent to me???? How silly of me. Of course I can sign that paper. Why didnt you email me in the first place..

Well after that email (and it is #11) finally the grant is being reflected in my daughter's account. Lets see how many emails the PLUS loan takes. We are waiting on the government. I am sure they will move quickly... Oh wait ;) LOL what am I thinking?

Details matter

Today I did a little bit of follow up to make sure a grant my daughter is entitled to was being processed. Its a good thing I did. It turns out that the university had not completed a detailed listing of fees and the grant was going to be $750 less then it could have been. Thankfully I contacted the DD's university and they provided more information. Hopefully this will be enough. It did not look like a lot of documentation but perhaps it will do. If not we will be back in touch with both places for round 3. Getting funding this year has been a beast. I need a third job.... Sigh. I am just trying to take it one day at a time and it is not okay to have to come up with an additional $750.00

EVERYONE is becoming so tight with every detail simple transactions seem to be much more complicated. Everyone is watching every dime. I guess that includes me too. Details matter and I don't have a spare $750 anywhere.

good news bad news

The good news is I got a raise. The bad news its $15.00 per week. I am not belittling the amount. Every single bit will make a difference. The panic I am feeling lately about minimum payments is important enough to re-evaluate how the money is allocated.

Last month when I got the news about my raise I had decided to add the $30 bi monthly amount to my automatic savings. Currently I have an automatic transfer to my savings account that takes place twice a month for $105. I think I came up with that amount based on auto insurance costs and contact lenses costs for my daughter. I realized I was not putting any money aside for known expenses. this is a foolish practice and I added the automatic payments to compensate.

In the past few months that ole Murphy he has come to visit in waves. There have been a ton of expenses that I was not prepared to pay for. I have depleted my "emergency" or back up fund quite a bit. Currently it stands at $1384.24. Which means I need to allow it to build back up to the $2000.00 level. I think I can make it by October which is when the auto insurance will be due. and of course our newest dd. 210*3= $630 puts us just over $2014. Now If I increase the amount of the automatic deposit to include my raise I will be able to "add up some snow flaking" and any funds paid over the 2k amount I can then send to pay off one credit card. Impressively the difference in 3 months is 270 *3 or $810 That's $194 to pay down debt. Nice. Lets do that!

I could pay the $30.00 directly to debt but I think at this point its really important for me to be in the habit of paying myself just like a bill. Once that emergency fund is fully funded I can put anything extra towards debt. But If I cant keep that 2000 in the savings account I may never be ready to purchase a house. So I want to practice good sound finances and keep it moving forward.

One other side note. I should get about $300 for some expenses at work paid back to me. All of that will be going to CC#3. Its current balance is 2622.54 and I made a payment in June of $465 so that card is moving in the right direction (2157.54). I want to get down from 5 cards to 4 so that the minimum payments is a bit more manageable. The PLUS loans will start to kick in and I will need to put more of my available cash to them and less to credit card debt. It just cant be helped. My dd is the most important thing.

As a result of the latest ex-husband financial entanglement it will be really important to get out finances in order for the next three months. I keep telling myself one day at a time but Phew.... I am tired of Murphy. Can someone kick him off my porch?


I notice my side bar needs to be updated. That will keep. Its not really good news and it moves in the wrong direction so I did not want to make the changes :-( But I will to keep it on the straight and narrow. The money facts are just that facts and I can face it.

In between poverty and madness

This was a long financial weekend. And it continues today. Here is the low down so far....

The DD's dad is no longer making payments to college directly. Instead he is giving DD $500 per month for expenses. While that sounds like a lot its about 1/3 of his share of tuition. She as a 20 year old has been spending a goodly amount of it. Boy oh boy did she have some open eye moments this weekend as to what that money needs to buy.

Here is a breakdown of the numbers:

Her tuition for the fall is $17,700 Plus a housing element of $1050

Total owed to educational institution: $18,750

Less payments so far totaling 5962.50
Less an outstanding balance of$63.56

Current balance therefore stands at $12,723.94


My work will give her a grant of $6125 (possibly 6500) which leaves $6598.94 to be funded.

We have been taking out loans from a certain institution that has a solid reputation and with which I know many people who have loans with them. To our distress because of changes in the law we can no longer borrow money from the same place.

On Tuesday, March 30, 2010, President Obama signed the Health Care and Education Reconciliation Act of 2010 into law. This Reconciliation Act ends the Federal Family Education Loan (FFELP) Program and requires all schools to begin awarding loans through the Federal Direct Loan Programs (FDLP).

So we applied for a private loan. This was very humbling, I have a decent credit score. But I also have $26,834.32 in debt (June's number) so OF COURSE all my money goes into credit card payments and I have a high debt to income ratio. I knew that but did not really care... till I needed to borrow money from a bank... Sigh It was very humbling to be rejected to fast. The fellow asked how much the rent was. Because rent includes my husbands salary and he pays half the rent it is out of scale for my salary alone. I knew as soon as he asked it wouldn't work. They wanted my husband to co sign the loan. Nope. we were done. So now instead of my daughter borrowing the money for her school I have to take out a plus loan. Here is to hoping it goes well because if I am again rejected she will have to hit up her grandmother for the cash. With times being tight this is not the way to go.

I even crunched the numbers of going to a local state school. (She would hate it but on the surface it looks cheaper) Appearances are deceiving, Guess how much we would have to pony up per year? Yep $13402 about the same amount despite the fact that her school seems on the surface to be more expensive the room & board is cheaper and the tuition reimbursement would be less. I still would have the same costs out of pocket. Crunching those numbers does make me feel better about her choices for school. I am still sick about coming up with the cash but I do feel better.

Onwards......
I am tired of people who do not live up to their financial responsibilities. How come I choose to be responsible and not him? He is such a dope.

The reason for my title is how hard we have to swim to be in the middle. Because I re married I have to include my current husbands income when applying for financial aid. Even though he contributes only to her well being in spirit not financially. So we never will qualify for a financial need scholarship. My daughter applied for over 10 grants and scholarships we were awarded none. As for academic grants she is a good student she has a 3.4 GPA its not enough for an academic scholarship they all require 3.6 and above. So there again we are just close enough to be screwed. I am tired of being so close and getting nothing for my efforts. In the end what I will have is a well rounded wonderfully educated daughter who can now gain employment. Its a big deal and I believe the degree is worth it. And if you read what others have to go through to finance their educations having $30K in loans is not a lot when you graduate. It sucks and is hard but still plenty of people end up with in the 60's and 70's so perhaps I should not whine. But you know 30K is a lot of money to me and I am sooo tired of being in debt. I don't care about the rest of the world. This burden is heavy! and I am carrying it alone. I am completely depressed.

Support system thoughts

Saw this article (http://amysfinerthings.com/finer-things-friday-support-system) and wanted to write my own version...

I have been feeling overwhelmed lately. Murphy is parked on my doorstep and wants to come in. I am pushing back as hard as I can and having little success...

Here is what is happening:

My son may need surgery for tubes in his ears
My daughter's father has decided he will no longer pay for college
We are having a baby in Oct
I need to have thyroid surgery. I need to work with the doctor will try and get it done before my insurance changes in Jan.

All of it is mostly manageable but right now I am feeling quite stressed about issues. In addition there are promised layoffs at my husband's office and we will find out if he is on the list today. Of course there are rumors of additional cuts in the future so there are no guarantees that we would be safe. More stress...

When I see it all laid out here on the computer I have a lot going on.
I guess its about how you spend your time but I am grateful for the people who are supporting me...

Family
My mom has been a rock and even though there is a lot of stuff going on for her she is still coming to see the new baby, and to nurse me through the surgery in Dec.

Co-workers
surprisingly this is changing for me. I used to have good support here it is changing with this pregnancy. I am leaving as soon as my daughter graduates college.

Faith - I have not found a good church in this area. Its too bad really because I do have a strong faith in God. My husband is a no go guy so I tend not to go either, mostly out of laziness.

Looking into a lawyer made me realize how important it is to get to know people in the area and take suggestions from those around you.

Looking into surgery for my son I got a lot of interesting feed back on face book. People love to comment and give input. It did make me realize though the scale of the number of ear infections is wayyyyyyyyyy above the norm and I need to make it different. I do not want him to loose his hearing.

So there we are. I am grateful by brother after one year of unemployment has a job currently. I am grateful my dad is keeping the chaos low. I am grateful my mom will support me the best that she can. I am grateful I will be out of debt some day. I am grateful that I do have a family that I love as crazy as they are, they are mine.

Mad money monday

Life has been busy and I have not felt inspired by others to blog. Although I have a bunch of notepad documents that I might one day go back and post... We'll see.

Picking up from my last post. I have not had the heart to change my side bar. I have had a bunch of financial setbacks last year and this so perhaps I got a bit dis heartened because we have extended the time It will take for my debt to be gone. last month the debt stood at 26713.65 It was a tough winter and fall. And predictions for may have the debt increades by $200.00 Thay was due to some traveling requested by my mom. And you dont say no to my mom. So travel we did.

There is some good news. $200 is did not put me back at $39804. I start with a fresh sheet of paper each month and I believe there is light at the end of the tunnel. Someday I will be out of debt. I am here and I did not give up the ghost. I truely believe that persistance pays.

My raise has ben spent and spent and spent. It has been a blessing but spent... I have set up an automatic payment from checking to my savings account to transfer 100.00 every month to get savings back to $2000.00 It has dropped to ~1400. Some days I have to pay things out of savings so I do not increase the debt. and the emergency fund is where the money comes from. By transfering the cash into savings every two weeks the emergency fund will be replenished by the end of theyear and I can stay on track with debt pay down.

There has been one other piece of good news... I am going to have baby #3 so I will be increasing my expenses. I am doing everything I can to get as much paid down before the arrival date. but 20 year olds seem to have other ideas in mind.

One pregnancy challenge I seem to be having is keeping my mind focused which is causing me to spend too much time on facebook and not enough time on programming or work.

Wet and windy get focused day

Hard for me to realize that I have not posted since Jan. I thought it had only been a few weeks. Silly traveler....




So Instead of back tracking and trying to catch you all up I will just do a brief where have I been and then quickly move forward.





The fall was super bad for expenses. I pulled myself up by my boot straps and re focused in Feb and said no more silliness. So far Feb, March and april have been more on track and I have managed to get my debt payoff to 33% in number terms for you geeks....





I started this journey at $39804.12. Currently I have $26,713.65 in Credit card debt. I have paid off in 2 years $13,090.47 WEEEEEE I have paid off $13,090.47 in debt. I do not wish to be there ever again!





My goals have been to pay off the total of the debt in 3 years. based on the fact it took 2 years to come 1/3 of the way it looks like it will be more like 6 before I am truely free. Thats okay. Not fun but okay. As long as I get ther eventually.





There have been set backs... Health care additional costs and college expenses for my daughter.


There has also been good news. I got a small raise. Even though the place where I work has put a freeze on all raises They examined my salary and found (NOT to my surprise) that I was paid too low below market and this was un equitable. So they gave me a bump to make it more of a market rate. In truth I think I could leave this employeer and make a move to almost double my salary and that is my plan in two years... But I will blog more on the hows of that some other time.



In June of 2009 I had 23864 in debt so I am still not quite back to where I was a year ago.

I left off here... I will post this and continue more in another blog

CREATING THE NEW YEAR

Well its new years so I like many others feel compelled to create goals for myself. Of course its obvious to me my top three.

Here is what I am focused on:

1. Pay off 28,077.53 amount of debt, or this year about $9000.00. That equates to $750.00 per month. I am budgeting about $800.00 to debt but some of that is interest. So we’ll see how I do.
2. Lose 20 lbs
3. Learn to be a SharePoint developer/programmer

I am starting a new blog for #3. I think it helps to keep me on track and focused. I like blogging. Lets see if I can make a little additional income and get some referrals for technical work by putting it out there. I am not going to blog about #2 because from my observations people who are on a debt diet then start talking about a real diet never seem to come back to the debt blogging. And really getting out of debt is more important. It makes me feel like I have lost my friends when bloggers go away. I really am missing I've paid for this twice. She was really inspirational in my focus. Of course I also like NoCreditNeeded. But he blogs much less often and his journey is less about debt and more about skills after the debt. I need and want those skills but I need to remain focused on my own goals.

As I write this blog entry I received in email David Allen's productivity tips email. You can subscribe to it yourself here... http://www.davidco.com/productive_living.php

I Love how he re-frames New Year’s resolutions...

CREATING THE NEW YEAR
What would you like to be your biggest triumph in 2010?
What advice would you like to give yourself in 2010?
What is the major effort you are planning to improve your financial results in 2010?
What would you be most happy about completing in 2010?
What major indulgence are you willing to experience in 2010?
What would you most like to change about yourself in 2010?
What are you looking forward to learning in 2010?
What do you think your biggest risk will be in 2010?
What about your work, are you most committed to changing and improving in 2010?
What is one as yet undeveloped talent you are willing to explore in 2010?
What brings you the most joy and how are you going to do or have more of that in 2010?
Who or what, other than yourself, are you most committed to loving and serving in 2010?
What one word would you like to have as your theme in 2010?

So Here are my responses:

CREATING THE NEW YEAR

Love the positive language that I can create the year I want to have.

What would you like to be your biggest triumph in 2010?
Having baby #3 we are attempting it, but have not had success there yet. Second biggest triumph will be to get the debt back under control. For the last six months things have been a little (a lot) crazy.

What advice would you like to give yourself in 2010?
Have persistence in paying off your debt. Perseverance and diligence these are the skills that will accomplish getting rid of debt. Towards the end Oct, Nov and Dec stay focused on the goals instead of dithering away on auto pilot. Make allowances for the fact that it is a busy time and try to put away extra before the fall to compensate for the time you know you will have more demands on yourself.

What is the major effort you are planning to improve your financial results in 2010?
Increase my income, decrease expenses basic but HARD
Learn to be a SharePoint developer to increase my income.
We are giving up cable to decrease expenses further. And as I type this the thermostat is set to 65!

What would you be most happy about completing in 2010?
I would like to read more books. I have not been able to focus my attention for long enough on any single book. I just look long enough to read the answer I need. I would like to learn the information in a textbook really commit it to my skill set.

What major indulgence are you willing to experience in 2010?
Ahhhh chocolate comes to mind. Then Cross-stitch, But also it is an indulgence to learn a new skill. To dedicate so much time (which I have little of) and focus (which I find harder and harder to obtain) is a luxury and therefore an indulgence. So I plan to dedicate 2 hours each week to reading about SharePoint development.

What would you most like to change about yourself in 2010?
The back sliding. I know it happens but I find it so frustrating. It is exactly these circumstances for which Dave Ramsey has you create an emergency fund in the first place. I have dipped into it a lot recently. I want to put back. (I will post more about this in a further blog)

What are you looking forward to learning in 2010?
SharePoint development
Better budgeting
Making a SharePoint Blog produce an income.

What do you think your biggest risk will be in 2010?
Having another child is a very expensive choice. But I am too old not to try to take action right away.

It is also a risk to learn programming. In two years will I be able to leave my job and take a contracting position to do development. I like security. We will see.

What about your work, are you most committed to changing and improving in 2010?
1) Learning tract for SP development
2) Be a better teacher
3) Working towards preparing my team at work for the next version of SharePoint that is coming out.
4) Encouraging users them not to be afraid of the new tools.

What is one as yet undeveloped talent you are willing to explore in 2010?
Undeveloped talent… My first thought is leadership. But what I really want to develop is the skill to lean something by reading and doing. I want to be a self learner. In the past I have learned very well by taking classes and reading blogs. Now I need to strengthen the ability to take what I read and turn it into a doing action. I need to retrain my brain.

What brings you the most joy and how are you going to do or have more of that in 2010?
Joy... My children, my husband and cross stitch. These are my biggest pleasures. I would like to spend more time with each of those things. I need to remember when I am spending time with each of those people how much I appreciate them for who they are and how much they support me and bring me happiness.

Who or what, other than yourself, are you most committed to loving and serving in 2010?
Family, my children, my husband, my brother, my parents.

What one word would you like to have as your theme in 2010?
Progress

So those are my answers, what are your goals? Feel free to comment.


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......

Debt free tips from Indiana Jones

I love to read blogs. I love to see what people say. I read a lot of personal finance blogs. I read a lot of cross stitch blogs and I read a lot of SharePoint blogs. (SharePoint is a product by Microsoft) I came across this blog http://sharepointkb.wordpress.com/2009/12/23/sharepoint-tips-from-indiana-jones/ and began to think that hmmmm. I think this could also apply to personal finance. So lets see how our journey goes... 1) You have to have the courage to take on something challenging.

Fighting my way through the debt heap has taken a good bit of courage to keep going. It has also taught me to "defend" my wealth. I hate confrontation. I hate fighting. I have come to respect that sometimes you have to stand your ground in order to not be taken advantage of. Currently I have to appeal to my health insurance some extenuating circumstances that my dd had an urgent situation and needed to get care. If I do not appeal then the health care company denies my claims for around $2000.00 Its my money. She needed the health care its why we have insurance. I have learned to be brave and take the fight to the vendors because typically I get my money back. Another example is getting a lower interest rate. See my blog entry here... http://travelfarandwide.blogspot.com/2008/11/ask-dont-forget-to-ask.html
Be brave ask for what you want.

2) Know your limits and what your good at.

I am good at dreaming. I can daydream all day long. Typically, I have to stop myself from dreaming and put my nose to the grindstone to get myself to focus on my work. It is okay to run away from the big boulders when they are flying at you but it is also necessary to know when to get to work.

3) Simplicity is often the best option. (Gun vs Sword)

Isn't this one of the favorite scenes where the swashbuckler is waving his sword and Indy just shoots him. I think this is parallel to online banking. It was a lot of fuss to pay lots of bills over the phone on cards. I love online bill pay. I just hop on my bank's web site and off I go, electric paid, rent paid, cable paid. Done. And because time is such an issue in my life now that I have a 1 year old. It takes me about 30 minutes to check all my balances and pay the bills. Once per month 30 minutes is very effective. Keep it simple. Bam just knock it out.

4) You need to know your stuff and be ready to learn.

Indy Jones always pops in with some little tid bit of history that solves the puzzle. He knows a lot of stuff and it gives him that little competitive edge over the Nazis among others. I read tons of blogs. I have learned a lot about how to do things as well as been inspired by others who struggle in the same journey.
Places to learn:
No credit needed
Dave Ramsey
WiseBread
Boston gal's Open wallet

Places where I feel inspired:
I've paid for this twice
GRACEful Retirement

5) You don’t have to be a superhero.

Indiana Jones was a geeky history professor who liked fancy vacations. I am a geeky Technology buff who likes mellow vacations. I believe if we follow the map to the treasure we can achieve our goals. And I follow Dave Ramsey's baby steps road map. you should too http://www.daveramsey.com/new/baby-steps/

6) Some things never change.

Indiana Jones uses old fashioned common sense and logic to solve his conflicts. He seems to choose the best way to get out a of a fix. There is no way to stop life from becoming complicated. BUT we can keep an emergency fund in order to keep our debt from growing.

7) Know what your are afraid of, or bad at and let other people help.

Snakes why does it have to be snakes??? I love that moment. When the great hero admits to being human. But he pushes through his fears and escapes anyway. I have mounting fears that my debt is mounting. But I keep on the plan because its to only solution to escaping debt.

8) You can’t do it alone.

Jones used lots of resources on his journey. He took advantage when help was offered and so should all of us. When my mom offered to help me with some extra cash I paid it toward my debt. I am going to start cashing in my bonds (I only have 2 so its not big bucks) to pay off some if the debt. I am also going to look into selling off some stock I own to try and get the debt down further. Again we arent talking big bucks maybe a couple of hundred dollars. Any help is good.

9) You have to believe in yourself and it doesn’t hurt to be unique or have your own image.

When Indiana Jones was on an adventure he wore his unique hat. It helped to get him into the roles he had defined for himself as an adventurer. He was super confident when he came into a new situation. He believed in himself.

It turns out to be different then average is to have no debt. So my goal is to be unique. I am going to get out of debt and then build up savings. I have fantasies about how fast it will happen. But mostly I am planning to follow the steps and save for retirement. There are no get rich quick schemes.

10) You have to see things through and stay focused.

Indiana upon his return from the opening adventure in the movie said "Marcus, I had it it in my hand, Marcus. I can get it." He was completely focused on obtaining an artifact for the museum even if it took more then one adventure to get it. He was then changed to follow the arc of course, but the idea is persistence and diligence despite setbacks won him the treasure every time.

We all need to be like Indy.
This was a light and fun Holiday way to help one enjoy getting back into the grind of debt reduction. Sometimes when you look at something in a new way it gives you a different perspective. I want to be a bit more like Indiana Jones. I want to crack my whip and have my credit cards sit up and take notice. Because I am coming for you...

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......

October wrap up

My retirement fund and my debt paydown reached the exact amount I have paid off in debt, 14,000. It is not a lot in the grand scheme of things but it means a lot to me. I am floating in the big debt sea and can see neither shore those little elements help to make your day.

Despite a really lousy financial October, I still am putting $200 to pay down debt. I have newly resolved that I no longer need web space I WILL be closing my website. That is a painful choice but I think we can do it. I wrote about it before here...

The October renewal plan:

• 
  Training 1 hour every day. read in a chapter, study something having to do with MS Sharepoint. From 8-9:30 every day.
• 
  Put money into savings. Currently I am not saving enough. It is a real problem. I am not sure I have calculated it correctly but I have noticed when the payment is automatic I put more away consistantly to my debt then at my other cards. I need to replenish our emergency fund. I had to borrow $500.00 to cover for my husband. He came up a bit short on the electric bill. So I have set up an automated payment schedule. Well see how November handles that and if I miss the money. (The budget is so tight I am sure I will.
  
• My plan is to be debt free in 35 months. I do love the snowball calculator web site http://www.whatsthecost.com/. It helps me to stay the course and not forget that #1 I have made progress and #2 I have to keep paying down the debt. On the current plan I will pay off CC#2 by October of next year (2010). I dont want to look at the rest. But I did. And its not so bad really.

Here is the run down:
CC#1 is Paid off Bal $0

CC#2 13.49% $3,833.69
CC#3 11.24% $3,590.70
CC#4 9.90% $3,690.93
CC#5 4.99% $874.97
CC#6 3.99% $2,023.11
CC#7 3.99% $11,363.51

Total is $25,335.13

So If you are following this And I know no one is I have had a bit of a back slide since July. Most of that is due to DD and College. Also some of her health issues. But I believe it will get better and I am going to just keep pusjing forward.October 2012. I can do it. I have no other choice. I Refuse to live in debt for the rest of my life.

I thought I had 6 cards and I have 7 shudder and ugh. I am paying off in interest order. I get dave ramsey's psychology first better now. On card #5 I have an automatic payment. Once it went below 1000.00 I was like thats it boom lets just knock it out. The thing is It has the LOWEST interest rate and it is until the balancce is paid off. I am better off sticking to CC#2 with a rate of 13.49% and getting rid of it. There was a time when I had 18000 on a 24% card so I know truely I am making progress. but it is very hard to feel like you are making progress. But I CAN do it. and I will do it.

Things that I have done wisely:

I am proud of myself for reducing the interest rates I am paying to the best of my ability.
I am proud of myself for trying not to carry cards in my wallett I pay mostly only cash. I have to say mostly because last month there were a bunch of unexpected medical expenses for my daughter. While you can call this murphy's law or something. It was frustrating because I do not believe she needed to go to the emerg room over a sprained ankle. So I am mad at the dicisions her employeer made for her and did not pay for.
I am proud of myself for keeping on the path to get out of debt even though It is hard and tiresome
I am proud of myself for having a budget and knowing what I can spend and what I should not.
Life is a journey. and I am on the right path for myself.

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......

Still in the rowboat

I have started a number of times trying to write about finance. I find it to be really hard. I have felt like I was in the middle of the sea in a row boat with no shores in sight. The thing about that is I know you have to stay the course. Frankly there is no going back to having nearly 40K in debt. I do not want that life. And I don't want to maintain this level of debt either.

I know

1) If I had not started the journey when I did I would have had to declare bankruptcy - especially as many cards are now raising their rates & minimum payments.
2) I want to retire some day and I cannot do that carrying this debt burden.
3) I want my son and daughter to live a debt free life so they can learn healthy attitudes and carry that behavior forward into their own lives..

Knowing and feeling are two different things. Right now I feel despairing that I will ever get out of debt. And I relate (as I often do) to Paid Twice's journey that knowing there is light at the end only seems to invite Murphy to stop by more often. (you can read her post here http://www.paidtwice.com/2009/09/09/the-home-strecth-can-be-as-difficult-as-the-start/)

It is much easier to know what I want... College for my children and a house.

I have about 2.5 years left until my DD comes home from college. So far I have only had to borrow about 4k (Her college is 32K per year so keep it in perspective) I am willing to be in debt for her degree. I want her to have an education. It could have been cheaper, but She is happy.

The house debate within myself continues to rage. There are a lot of factors. I really wanted to take advantage of the 8K house credit. But I think my DH and I were a little ambitious there. It would have been a stretch. And while I think we are a good risk I have no idea if a mortgage lender would see that and grant us a mortgage. And even if they did grant us a mortgage would it be enough for me to get the type of house I would want.

It might be better to wait. I think If we take our time and do it carefully I will get all the things I want but I am the least patient person on the planet. All I can offer myself is that there is hope at the end of the tunnel.

So with Mad money Monday in mind....

So I am turning to the tool...

What's the cost to re-evaluate where I am today.

I have to account for some of the setbacks that I had during August....


Setbacks

Man oh man I know every dollar needs to have a purpose but right now the names all seem to be debt. And I cant even cry misfortune. Lack of planning? maybe, a little hid under a rock definitely, but its time to stand tall, take the hit and get back on the wagon.

Like weight watchers you are more apt to stay on track if you track your progress. Over the summer I have to say time has been fleeting at best and I have often been derailed. The thing is I know I need to get back on track. Right NOW.

So starting today, I logged into many of my different accounts. I have created an outline for My October budget. I will also have to do a where did my money go budget but I cant face that yet. And seriously I will only avoid getting back on track if I have to beat myself up. So today Is no judgment Monday. Just evaluate where you are and what we can do today...

I have to wait till month end to get the true numbers. And I will be receiving a check back from the college to pay back money I was forced to put on a credit card for some of my daughters education because the financing was not lined up. So I charged $2680 to CC#2 (Currently focus of the debt pay down. ) I also charged school supplies and gas because this card was having a promotion I wanted to take advantage of. Time to get back on track...

What's the Cost predicts my debt pay off, given my current standing (which includes the almost 3k in education), to be September 2012. I am sure when I adjust the numbers for the education charges I will come back from that date a bit. More like something around May 2012. Not surprisingly the first card of focus is CC#2.

So we are back to the 3 year plan. Its a long journey to pay down nearly 40K in debt. It looks like I will have paid off most of my credit card debt as my DD graduates college. I can live with that. The only worry I have is that now the minimum payments are larger from certain of my cards how will that effect my schedule. But onward. Row Row Row


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......

Debt elimination vs savings

I read Paid twice's blog often. I have found that if you surround yourself with people who are on the same path for a goal you will be more likely to achieve that goal. I really really want to be out of debt. I can not ignore the huge credit hunk of change I owe. And I have noticed that the interest rates did indeed go up. The banks want a little more from me... I do not really want to give it to them but I did borrow the money.

I currently have 6 cards that have a balance on them. 3 of the cards are at a fixed rate until the balance is paid off. I like that fact. It saves me a LOT of money. The other three cards drive me bonkers. CC#2 is the currrent card I am paying the largest amount to each month. CC#3 will be next and CC#4 has a 9.9% rate that has not increased... However... I am charging my web design space to CC#4. It is $14.00 per month. So I eliminate any debt reduction by the charge. Previously I did not want to get rid of my domain name. But currently my job focus is elsewhere and I no longer need to post a portfolio. And if I did need to host a web space I could sign up again. Nothing there is critical any more. So it has to go. It is important to revisit these charges. Because as few as 3 months ago I felt differently. But my career goals have shifted just so slightly and I feel it is no longer necessary to have web space. Actually I feel it is foolish to hold on to something that is costing me money for no benefit.

So How do I feel about Debt elimination over savings?
Well I am in the middle. It has been saving grace that I have paid down as much as I have so that when issues come up like vacation, child's father not paying for college and school expenses I just reallocate some of the debt elimination/repayment money to the current spending challenges. Life does happen. Just because I got myself into debt does not mean my child has to pay and pay. She will have her own challenges. And having a college degree for her is so important to me I would do a lot to make sure it will happen. I would even take on more debt. I know its not Dave Ramsey's philosophy - but he is a multi-millionaire and he funded his kids schools long ago. Each of his kids are in college. There is a classest divide in this country. Those who do not have good skills or a degree have a much harder time in life supporting themselves. I want my daughter to have a degree so she can get employment. I am committed to it.

SO Anyway....

I also see the value in building up savings. I used a little savings to carry us at the end of May. Things were just too tight. That is why we have savings, to bridge the gaps, so we do not feel the need to put charges on the credit cards. Well.... I would like to pay back to savings the money I borrowed. But I chafe at the pace of debt repayment. I want it all to be over now. I want to be debt free today. I also want to be skinny now and wanting it does not make it so.

There is a rhythm to each financial year. My spending is always higher in the summer because the child is home, then there is back to school, then Nov birthdays and then Christmas. So If I am honest with myself Aug - Dec are always slimmer then Jan - July. The BEST debt repayment months are during winter. But I have felt the power of debt elimination. I feel how wonderful it is that I can decided to pay less each month if I needed to. I am committed to paying of the remaining balances.

Each month just a little more goes to elimination and a little less goes to interest. It is so powerful to be able to make progress.

For myself the argument for savings is a big one we want to purchase a home. We will need to have money for closing costs and other expenses. I am not sure if one month's savings would make a dent so I keep eliminating debt. But that is where the tug and pull comes from. Rationally I think we will end up purchasing a home in 2 years after the debt is much lower. We'll see. If they offer the tax incentive again next year it will give us pause... again.

My actions are to debt elimination even though some times I feel the savings pull. I almost always choose to put the money into debt pay down. I just don't want to live a life with an expensive anchor anymore.

Food for thought. Enough ranting... thanks for reading

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......

Well the journey continues

July was a hard month. Financially and emotionally. A lot of events happened. Two family vacations, visits from DD, visits from my mom, and a few unexpected bumps and bruises. So my blog has been quiet. There was so much going on I didnt try to control the chaos, I just went along for the ride. Thats the name of the blog.... road traveed. And this months was a doosey. So I have been bumped and bruised. Today I have picked myself up. Brushed myself off and I am ready to be back on the financial trail.

The damage:

After vacation spending through the end of june and All of July we put $1486.88 on credit card for vacation. There may be other expenses through checking but on a credit card for two vacations $1486.88 is not bad. There was a lot of pressure to go on both of the vacations. The beach vacation is a tradition we have been doing for about 12 years. My daughter would not let me not go. Financially my husband contributed a lot more this year and thank goodness he had a lot of overtime cash he spent so we did not have to run too much on the cards. He is an awesome man.

The second trip was a vacation to visit Husbands family. I did not have a lot of vacation time left so I had to drive down on a different day and so there were gas and food expenses. It was not too bad and as it was for his family I would do it again.

Time now to get back on the horse though. Over all I am not too upset with the numbers. I want to be able to take it in stride although It makes me sick to have a debt anchor hanging around my neck. I look forward to the day I do not have to write checks to the banks and I am free. It may take longer then the origional plan BUT I will get there and I am determined to be debt free. One day at a time.

As a result of being away my desk has gone to pot. Last week I organized all the papers to help make order from chaos. This week is health care focused. Next week will be how can I save money by taking lunch to work. Thank goodness I can sit at my desk one day pr week. I do not know how I would get it done if I did not have that luxery.

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......

The good the bad and the UGLY

First the Good....

I have paid down $15,939.98 in debt. My debt total is UNDER 24 K! Just under... but still under. I like seeing those numbers drop.

Then the Bad...

I had to pay mostly the minimums this month. I took $250 out of savings to cover daughter coming home from college and to pay the back balance on the sprint bill. I have had an increase in groceries this month and Man are things tight. Although I paid $95.00 to debt over the minimums. So It was not a waste of a month but the progess is not where I want it to be and I chafe at the pace.

The Ugly

Life happens. It makes progress slower then I would ever like but I acknowledge that life happens. I do have a daughter. I cant ignore her untill all debt is paid off. I desperatley need a hair cut. I really need to get a couple of new clothes so does she. I am postponing all of those things in order not to incur any new charges to the credit cards and I acknowledge that this road is HARD. I did replace $100 back to savings. I am concerned that I need to show the ability to maintain a balance if we choose to buy a home. I need to replace the funds I took out sooner rather then later - which means financial health at home not on the credit cards. They will see progress on the cards but that wont be as important as maintaining the balances.

We are on the road to debt freedom. We will get there eventually inspite of the side trips. And Last May was a rough one too. If history is a predictor June will be tight as well. With DH's birthday coming up in June It will indeed impact the wallet. So we shall see.

There is always hope. somehow it will get better.

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......

Well, How did I get here?

I was reading my blogs today and I saw this on Boston Girl’s blog (http://www.bostongals.com/2009/05/ny-times-reporter-personal-credit.html) about an economist who got into big big debt. Well I too was a business major. And still I hung myself on the rope that the credit card banks gave me - paraphrased from this article
(http://www.nytimes.com/2009/05/17/magazine/17foreclosure-t.html?pagewanted=print)
So I thought I’d tell a little more of the story.

I looked back through all my posts and it turns out I try not to dwell on my mistakes of the past but I have focused on the future. I deem this to be a good thing. Yet I think how I got here is worth examining. Even reading back through some old posts I found evidence of my fuzzy logic that often times was the result of chaos elsewhere in my life. Thankfully I am much more grounded now.
As I read back my blog is more stream of consciousness not a book of how to get out of debt. I think that is the part of the journey that is personal. All I really want to do is get out of debt not to become a journalist. Here are a few posts that chronicle some of my journey…

Inspiration to begin:
http://travelfarandwide.blogspot.com/2007/03/change.html
http://travelfarandwide.blogspot.com/2007/03/confession.html

Some more of my journey:
http://travelfarandwide.blogspot.com/2008/07/economy-and-personal-finance.html

I have come a long way:
http://travelfarandwide.blogspot.com/2007/04/changing-times.html http://travelfarandwide.blogspot.com/2007/04/clutter.html

So those posts have some of the history of how the big debt got started, but I know the choice I made that really started the whole thing…

It is as clear as day the moment I first dug the hole. I had my first real job. I had just moved out of my Mom’s house, where I went to recover during my divorce. I was paid an okay salary not awesome, but enough to live on. I got a one bed room with den for myself and my daughter. We needed a TV cabinet. Well need is a matter of definition. I picked one out of the JCP catalog. It was adorable. I can still see the item in my mind. I was building my cozy nest. I wanted my DD to have a nice home. Never mind that I should have saved up for it and paid cash. That is never going to happen I told myself. I can’t save money. And I need to be clean and organized. I need the cabinet. So I ordered it from JC Penny’S and I was on my way to Credit Card debt. I made monthly payments. I don’t remember if they were over the minimum. I doubt it. I carried the cabinet board by board into the house because the box was too heavy for me to carry by myself. I put it together with my friend the power screw driver. It looked pretty nice. We had a living room.

Then the hole got a little bit deeper…

I remember getting the card offer in the mail. The card was Prime Option; they are no longer in business. 0% interest. What a good idea. I'll transfer the 22% interest JCP card over to this new card and after 6 months it will be only 12% interest. I can "afford" that I thought. But then I needed gas one day. So I put that on the card too, again and again and again.

Not related to Credit but related to income, I did some soul searching about why I was not happy where I was. I was alone in PA. My friends all lived elsewhere. I was an hour from my mom. Why was I still here? So I decided to move to NC. I did some research. I had taken a Microsoft course in computer networking. My brother was getting paid $50K to set up computers, I could do that I thought. (I still have yet to make the 50K salary mark!) I am going to move to NC and take some more classes and start over.
Well, the move was mostly all on credit cards. My dad did pay for the moving truck through his business. He even offered me a job, which I accepted. I took the position of Business Manager. Great at someone else’s money just not my own. Everything went on the card.

Because I thought of myself as middle class and sliding I had a certain amount of pride about what I could afford. I was maintaining a lifestyle that no one saw... Irony of ironies I am an introverted person. I have few social interactions with the parents of my daughter. Even at our church I was never approached by other parents. I bet they could not even tell you my name. And yet I was maintaining a three bedroom apt so I could have an "Office" for myself? How stupid was I? Don’t answer that I already know.

Then the denial or magical thinking really began. Credit card bingo. It is a sign that you are in trouble with debt that you shuffle balances from card to card. I looked at it as a good money manager to keep transferring money around so that you can take advantage of offers.

In business school your studies are all about the analysis of others behavior. It is never a focus on you. It is not discussed to gain an edge by never taking out a car loan, or not having to pay credit card interest. It is implied but not explicit. The thing about that is you get cocky. I was really really good at floating money from month to month. I took that as skill at manipulating the interest rates not a sign that I would have t o pay that money back some day.

Then more magical thinking I had some money in an investment. It was equal to the amount on my cards... So I could pay them off at any time right? (or so I told myself) But I didn’t want to. And I kept thinking my career will pick up any time. I will get a job that will pay off all my bills. I will magically have a big check to pay it all off. Getting out of debt takes step by step perseverance. I never had that. I learned it mostly when I met my husband. And slowly I have improved it my ability to focus and finish a task.

Now as I move forward It is even more important to get to the goal. To finish what I have started and to live my life debt free.