Adding to the Passive Income Column:
$3.00 from Pinecone
$5.00 from Swagbucks
Previous Amount: $184.99
Add monies: $8.00
New Total: $192.99
Archive for March, 2011
Adding to the Passive Income Column:
But, I can't wait. I love watching my debt area get lower.
But, this month, instead of putting my $600 into my freedom account, I am just going to use it to pay my homeowner's insurance. It just doesn't make sense to put it in savings only to transfer it back out to the checking account to cover that bill.
Haven't had a chance to go resale shopping for dresses for any of the weddings we have this year. But, hoping to get out sometime in April and May. I really need to go through my closet and drawers, try items on and make a list of needs first. So, maybe this weekend I will do that.
I have been going through some china cabinets, closets and drawers and have a pile of items to be moved to their next location - Salvation Army, Resale shop, Recycle bin, list some on craigslist, a nephew is taking a tv., a friend is taking some vinyl tableclothes and unused napkins from my daughters open house graduation last year to use for her little girls 4th birthday party, etc., etc. My foyer is full. Just needed to purge some items and get re-simplified. Now to get it out of my house.
Youngest son has a dentist appt. today, but I am paying cash. Pretty excited about that; and the weather is breaking, so I can start up my walking program again, now that Zumba has finished. Off to the shower, lots to do today.
A lot going on around here at the Camp.
Still sharing a car with my daughter, but it is working out, just keeps us on top of really good scheduling.
The class that I am taking is going real well. I am really enjoying myself. I am taking the class with four other mothers all my age, so it has been a lot of fun. Hoping to find a part-time year-round job sometime in the fall.
Also, trying to get the Club cleaned up, getting rentals scheduled, getting the guards hours scheduled, now just waiting for opening day Memorial weekend.
I have four weddings, bridal showers and three baby showers, that I really need to get out to the thrift stores and resale shops to find some new clothes. I have lots of shoes, just need a couple mix and match outfits/dresses and maybe a purse or two.
My youngest son needed to go to the dentist, which I was able to pay cash for. I am trying to schedule his cleaning and a couple more fillings towards the end of the months, so that I can pay cash for the services, instead of using a credit card. I usually get all my regular bills and my debt paid within the first two weeks of the month, leaving the last two weeks to use for savings and these kind of things.
I have some more house renovations to do. Basically my family bathroom needs a do-over, but I have the paint and a $35 Home Depot card to go towards that project. Plus, I am adding some more edible landscaping this year. I am really hoping to get a lot more canning, freezing and preserving done for the winter months this fall. The weather just needs to break - any day now, I can feel it.
I redid my spending plan and adjusted how I pay my debt and worked on the "every once in while bill" area (cause I was lacking in how much money I was putting away to cover those expenses). I was feeling pretty good about staying on track and meeting my goals, when my 16 year old came into my room to tell me that when he drinks something cold, one of his teeth is hurting. Well I made a dentist appointment for him today. He has such a beautiful smile that I don't want any problems with his teet to ruin that.
Good part ...my husband has been steadily working and handed me $400 last night, so I will be paying cash today for his visit to the dentist instead of breaking out the Care Credit card.
So, I went through my once in a while expenses/bills and put them on a piece of paper according to the month they are due in. It looks something like this.
January - Sewer bill
February - Winter property taxes
March - 1/2 Vehicle Insurance
April - Homeowner's Insurance, Oldest son's
birthday, Sewer bill
May - License tabes, BRCC membership, State Park pass
June - 1/2 Vehicle Insurance
July - Sewer bill
September - Summer Property taxes, 1/2 Vehicle
October - Sewer bill
November - 1/2 Vehicle Insurance
December - Christmas, my other two childrens
Putting a price next to all of that above comes to roughly an extra $6000/year; or $500/month. I have been short-changing myself in these categories. I need to make sure that I am depositing $500/month into this savings account so that I have the funds available when these bills come due. And, in order to get caught up for the rest of the year, I need to make sure that I deposit $575.00 and to get a head of the game, $600/month would be great.
So, not only will I be focusing on paying off my debt, I need to get this account moving forward so that I am not caught off guard and using my credit cards. I believe this is the area I am actually lacking in. Mary Hunt calls it the "Freedom Account".
A few months back, I made a spending plan, whereby I allocated $500 to go towards my debt. Doing that had my debt elimiated in 30 months, knowing that I could add any extra monies and have it gone by December 2012, was my goal; and still is my goal.
Well, after I started that plan, I did get two debts paid off, but now since the beginning of the year, I have only been able to put $355 per month towards my debt, due to my husband being laid off from work since Thanksgiving week and both vehicle and homeowner's insurance due in March and April. He has been back to work for a few weeks, so we are making progress.
But I did redo my snowball on the "what's the cost" website and it states that I will have my debt paid off in 49 months if I keep paying $355 month. I, of course, intend to add any additional monies I get from my income tax returns, garage sales, passive income, etc. to put towards that debt so that I can become debt free by December 2012 (21 months). Earlier would be nicer.
I am still putting $250-$300/month away into my emergency fund to cover the cost of Christmas, property taxes, insurances, car and house repairs, so that I am not caught off guard in the future. This emergency fund goes up and down when those bills are due.
Plus, I am having all of my summer job money directly deposited into a savings account to allocate for a car in September 2011, unless sharing a car with my daughter is still working out. Nonetheless, I will have money for a vehicle whenever that time comes.
Doing it this way relieves my stress of paying my regular household bills and my debt. And then when I do get any extra income, I can allocate it where it is deemed appropriate.
Adding to the Passive Income Column:
$6.00 from Pinecone
$27.31 rebate from Inboxdollars.com
Previous Amount: $151.68
Add monies: $33.31
New Total: $184.99
Need to get my daughters insurance paid. She gave me a check for her half, now I need to chuck in my half of $300.00 and pay it by the 14th. I also need to get the rest of my CC bills paid before they are due (middle to end of the month). My homeowners insurance is also coming due on April 20th totaling $673.00. I am hoping to put $135/week in an envelope, from the money my husband gives me each week for the next 5 weeks, to meet that goal. That way it keeps me from tapping into my EF.
It has also been a spending March already. Hair cuts and color, new glasses, new business class for me, plus the purchase of books and a flashdrive.
Plus, I found the buffet I wanted, cost me $100 for the buffet and I put $20 in my friends truck for gas. Now, I just need to get it painted, empty out the china cabinet, take the cabinet and most of the contents up to the consignment shop (to make my money back), put the buffet in its place and decorate; and then I need to find a really cool antiquey, shabby chicy chandelier to replace the light fixture in that area.
Then, I am starting on my bathroom.
It seems I have had extra expenses for 2011 already, that weren't planned for.
Youngest Son's Elbow Infection: $110.00
Two Birthdays for babies: $20.00
Gave my oldest Son money: $25.00
Fix Brakes on Car: $80.00
Computer Skills Class: $279.00
Still need to get done:
Pay for Book for Class: $75.00
USB Flash Drive for Class: ?
Oil Change and new Alternator Belt: ?
My house list:
Re-do one of my bathrooms. I have $35.00 in home depot cards I got from mypoints.com, the paint for both the walls and ceiling and I am reusing the curtains I already have, so shouldn't be too costly, just timely.
Go through china cabinet, pack items I never use for garage sale, replace china cabinet with a repainted buffet cabinet. Change out light fixture. Cost will be in buffet cabinet and light fixture. Consigning the china cabinet with a local shop, so hoping the money from that will cover the expenses.
Add to my edible landscaping this year. Going to do some Espalier Apple and Pear trees, and I want to add blueberry bushes. Plus, build an outdoor cob oven for bread and pizzas and a couple cold frames for winter gardening. The trees and bushes will cost a little money, but looking for free bricks and windows on craigslit to cut cost for oven and cold frames.
Magnets for water pipes. New grill insert. Need to replace two ignitors for my stove. Have ductwork blown out in the fall. Finish gutters around house and re-gravel the driveway.
We have four wedding this year. One of them we might be able to get out of because it is a destination wedding, but if we decide to take a vacation, might tie the two of them in together. One of them is also for my BFF's daughter. They live in California, but are coming home to Michigan for a really big wedding. I am really gonna need to go through my closet and see what I can wear and check around at some resale and consignment shops for fill-ins. And, they are all at different times of the year - June, August, September and October.
Two baby showers and a graduation open house. Not to mention all the regular family birthdays.
Other than that, pretty much have stuck to my spending plan so I can get out of debt before the world ends in December of 2012.
My prediction: Lots of "I survived the end of the world" festivals coming in 2013. I am gonna have my own festival if I become debt free by 2013. Yeah.