Financial Update -- May 2011

A little financial update for everyone since I just got around to moving some money here and there. 

Hubby got paid today (a bit early because of the holiday on Monday) so I decided to get the ball rolling on some transfers. 

Some of the money I already had set aside and the rest was added with this paycheck.

• Transferred $450.00 to our mortgage savings for 1/2 of the monthly mortgage payment (it's actually more than 1/2 our regular payment, but I like to have the account padded a little in case homeowner's insurance or property taxes go up)
• Transferred $501.07 to our credit card
• Transferred $240.82 to my college loan savings (loans not due until end of 2011/beginning of 2012, but starting to make "payments" to get a head start)
• Transferred $501.08 to our emergency fund
• Transferred $534.00 to our vacation savings (have to keep up with it if we want to go to Italy next year)
• Transferred $50.00 into my IRA (automatically deducted every month)

All of our bills are paid until the middle of June.  The emergency fund is almost back to the pre-layoff amount, which we'll finish next month.

End of Month--October 2008

Wow!  Another month gone.  The holidays are coming up so fast!

I am amazed with the current gas prices!  Hubby stopped for gas the other day even though he wasn't totally empty yet because he saw it for $2.299!  It cost him $36 to fill up!  Let's hope the prices stay this low or lower.  At least for a little while!

I've updated the sidebar.  Not much to really update, but I did it.  I also updated the NetWorthIQ for October.

We finally ordered the tires for my husband's truck.  They were really needed.  I saved and transferred the money to the credit card and then used it to pay for the tires.  They should be here in a day or two, then we'll make an appointment to have them mounted.  The total cost for four tires was $675!  Ouch!  But it is a worthwhile expense.  His safety is more important than money.  We researched the tires on tirerack.com and were very pleased with the reviews.  These tires should last a lot longer than the ones that came with the truck.  

Other typical end of month tasks:

• I transferred $45.59 from my round up fund to my emergency fund
• I transferred my VA benefit to my emergency fund
• I added any interest given at the end of the month.  We earned $9.22 this month in the emergency fund!  

I also figured out that I should be at $5,000 in my emergency fund in 9 months or less.  If you remember that was the original amount I wanted to save, then I upped it to $10,000.  I'll just be happy to make it to the halfway point because that's where we were before my husband was out of work for 2 1/2 months last year.  It will make me a lot more comfortable knowing we have that money to pay the bills just in case.

I also paid two bills for next month in advance.  Well, I used billpay and set the date for after the next pay period.  At least I don't have to worry about paying them.  The first was a $65 cell phone bill (2 cell phones--family plan) and the second was our electric bill of $159, which just keeps going up no matter how many times I turn things off.  I think it may be because we are on the budget plan though.

How does your electric bill compare?  Do you find it always going up?  Or have you found a way to keep your electric costs low?  I cannot wait until we are debt free so we can afford to put in a solar system!  It is one of the first things I want to do!

Finally...

I have never been so happy to see a pay period get here!  OK...that's not exactly true because all pay periods are good...more money always helps!  But this time with DH's mistake I was really looking forward to this one.  

And there are NO BILLS due for these next 2 weeks!  I can really put some money aside for DH's tires and hopefully he'll be able to get them really soon!  I've already replaced all the money I've "borrowed" from the other accounts.  Plus the normal transfer of $442.60 into the savings account for our mortgage payment.  

Getting into the routine of transferring 1/2 the mortgage payment every two weeks into the savings account it automatically gets pulled from was a great idea!  The mortgage is the first thing I "pay" every pay period.  I have never made a late payment or missed a payment!  And I know the money is always in the account when it's time for it to come out.

I don't expect to have any problems paying my bills, but if I did I would pay my mortgage and heloc first because I would never want to lose my home.  Second, I would make the truck payment because DH needs to get to and from work (though if we were really that bad off we would probably sell the truck and get a cheap, reliable vehicle--unless it was already paid off).  Lastly, I would pay the credit card.  Of course mixed in all that would be buying food, prescriptions, and paying for utilities.  Those would also be before the credit card.  

Of course all of this really doesn't matter if you plan well.  That's why we have an emergency fund.  If DH loses his job we don't have to make decisions on what to pay and what to not pay.  

And someday our plan is to not ever worry about it at all!  Our plan to payoff all our debt including our mortgage is a long term one for now, but once I can go back to work that will turn into a short term plan.  

• Everything I make will go towards debt!  
• Anything over what we've been currently living on from DH's paycheck will go towards savings.  

Right now it's just send whatever we can to pay down or off our debt.  Living below our means definitely helps though we don't deny ourselves either.  I have 2 more years (Spring, Summer, and Fall terms) of college to complete my B.S. degree along with my double minor and 3 certificates.  Once that is done I'll volunteer for a few years to get my foot in the door of my new career and still be available for my youngest son, who will still be in elementary school.  I'll be able to get a job again when he gets into middle school (my oldest will be in high school by then).

I can't wait to see how fast the debt disappears once I'm working again!  I almost want to see about getting a job sooner because of it, but I know I have to concentrate on my schooling and children first. Though if the right opportunity came along that still allowed me to do all the things I do with my boys, then I would consider it.

Woohoo!

DH paid $2.799/gallon for gas this morning and I paid the same at a different station this afternoon!  Usually we've been paying up to $65.00 to fill up DH's truck and about $40.00 to fill up my car.  But today it was $44.50 and $27.02!  I am so happy!  I know it would be better if it went even lower, but for now this is exciting to me!

On another note...DH made a mistake and bought something using the debit card instead of using the credit card that I told him to use to replace a piece of important computer equipment that died on us.  It totally threw off my entire budget for these two weeks.  Especially since things were already tight because it was a 2-week period where it seems all the bills decided to be due.  In the next 2-week period coming up there are absolutely no bills due!  So I've had to borrow from our blow money "accounts" and will replace it when we get paid later this week.

Meal Planning and Grocery Shopping

Earlier this week I decided to finally do the meal planning I had been talking about.  I went through the Kraft Foods website and picked out a bunch of meals that sounded good, then made a grocery list of what was needed to make them.  This was new for me. Usually I end up buying a lot of the same things and we get into a food rut!

For the next two weeks, I'll be making these for dinner:

• "BLT" Pasta
• Cheesy Chicken Tostadas
• Crisp-and-Creamy Baked Chicken
• Easy Bistro Chicken
• Easy Layered Taco Pie
• One-Pan Chicken and Potato Bake
• Polynesian-Glazed Meatballs
• Portabello Mushroom Sandwich
• Quick 'n Easy Pasta
• Shrimp, Tortellini, & Spinach
• Slow-Cooker Tex-Mex Chicken

We also have some other quick meal things that I picked up because we have a few days where we get home late.

I went grocery shopping on Friday night and I started cooking these dinners Saturday night.  So far I've made the "BLT" Pasta and Polynesian-Glazed Meatballs.  They were both very easy to make and delicious.  They are going to be "keepers" for future meals.

The only thing I have an issue with in all this is how much food costs these days.  I spent $180.98 on two weeks worth of food (not including the mini trips I'll have to take to replace milk, bread, etc.).  We don't buy a lot of meats and use generic and/or sales whenever possible.  I admit there are a few items where I've tried the generic and didn't like it so I stick to the brand name food.  I didn't like the generic frozen chicken tenderloins so I buy Tyson. It's only about $1.00 more and the taste and texture is much better quality.  

Here is the breakdown of some of what I bought:

• 24 of the items I bought were generic/grocery store brand
  
• Only 9 items could be considered meat (including precooked meats, lunchmeat, frozen, etc.)
• 11 items were fresh fruits and vegetables
• I saved $22.22 in sales and "buy one, get one free" offers
• I did buy two subs for dinner since I didn't get home from shopping until past 8PM

The only upside to all of this is that buying groceries and cooking dinner at home costs less than going out to a restaurant.  Now THAT'S expensive!

Advanced Payments are GOOD!

Thank goodness for the truck loan being paid in advance!  My husband desperately needs new tires on his truck because he drives 570 miles a week and the tires the truck came with are crap!  

Anyway...

Since I haven't had the time to start saving up for Auto Maintenance, which this lovely issue brought to my attention, I am planning to use the money I would have used to make the 2 extra payments to the truck loan to buy the new tires.  Because honestly it makes no sense to use the money to pay down the truck early instead of buying new tires so hubby doesn't go out of control on the highway when a tire blows.  Plus I would probably have to pay for massive hospital bills, if not a funeral.  That would be bad!

The tires are actually going to cost $568.00 plus delivery, installation charges, taxes. I'm expecting it will cost quite a bit by the time this is all said and done.  But it is a necessary expense with how much he drives.

We've already researched the tires on tirerack.com and found some that have a very high rating.  His original ones are there, too, and confirmed how crappy they really are, though the dealership told him they were top of the line when they tried to sell them to him when he got his oil changed.  They had no idea we already researched the tires. Nice try, but no thank you.

So the plan now is:

• Use one, possibly two, months of extra truck loan payments to pay for tires for the truck.
• Use any extra money such as bonuses and tax refunds to "catch up" to where I wanted to be with these missed extra payments.

Hopefully that will all work out the way I would like it to, but if it doesn't that's alright. I still see the truck loan being paid off early even with skipping a couple of months.

Suze Orman on AC360

Last night Suze Orman was talking to Anderson Cooper on CNN.  Everyone has a different opinion on her.  Some people like her and some don't.  I'm more in the middle, but that could be said about any financial personality out there.  

But last night she made some very good points that I believe a lot of people forget.  Before I get started on them I just want everyone to know they can find the transcript for the show here.  You have to scroll down some--about halfway down the page to find the section with her, then Ari Velshi talks for a little bit and back to her again.

Here are some points:

• "If you need the money in one year to retire, to generate income for you, and it's all in growth stocks, yes, you betcha. You come out of the stock market right now." and "But, if you don't need the money for 10, 15, 20 years, and you're in good, quality stocks, stocks that aren't going to go away, then of course you stay here."  

Let's face it most of us are in it for the long haul.  You're 401K is there for the future and over time they end up growing.  The media reports make it sound like it is so bad that you're going to lose everything!  The big thing is to keep on contributing, don't put everything into one basket, and if it really makes you nervous--don't look at your account too often right now.  It can get really depressing if you do.  Be patient!  In my case, I try not to look at it because I know it's going down, but I have another 27 years until I really need it!

• "Look at your own lives. Look at what you have got going on. There's only one thing, Anderson, you have control over in this life. And that is your own personal finance, as what you do with the money you have, what you do with the money that you don't have.  Look at your own lives. Look at what you have got going on. There's only one thing, Anderson, you have control over in this life. And that is your own personal finance, as what you do with the money you have, what you do with the money that you don't have. And that's where you have to focus right now" 

Again I have to agree here.  How can the average person control what is going on outside of their own finances?  The average person cannot!  So the only thing anyone can do is take care of your own finances to make sure you can survive in a time like this.  You cannot worry about others (examples: government spending, stock market, bank closures and bankruptcies, etc) when you don't have your own finances in order.  Make sure your money is safe in FDIC insured accounts, pay off or down high interest credit cards and loans, have an emergency fund, know where your money is going and/or figure out where it should be going.

So how are you dealing with the current financial situation?  Do you watch it constantly and panic/get depressed?  Or are you patiently waiting for it to be over because you know you're in it for the long haul?  

I admit it can get pretty depressing always hearing about decreasing home values, decreasing home sales, increasing foreclosures, increasing bankruptcies, businesses going under or being bought out, stock market crashes, increasing gas and grocery prices, etc.  But the media also isn't talking about people that are making it in these "hard times", who were smart enough to not get themselves into a bind by paying off debt, not panicking, not buying more house than they could afford, etc.  I know that some really fell into trouble because of others or emergency situations, but we also have to be responsible for our own personal finances at some point.

Attempt to Get Back on Track...

...Or at least I'm going to try.  

I've updated everything on the sidebar now as well as NetWorthIQ.  It's not looking good, but I didn't expect it to what with the student loans being added to it all.

I made several payments to the truck loan.  We are now down to $7,131.24 left on it and I don't owe them another payment until January.  Of course, I'll continue to send them in because I want it gone!  My extra loan payment "savings" is up to $145.69 so I'll only need $87.07 to send in another extra payment along with my regular payment.

I received my homeowner's insurance statement.  The payment is due in December and is paid through my mortgage escrow account.  I would love to not have a mortgage escrow account, but they are required on VA loans.  As usual the policy covers some pretty stupid things like volcanic eruption, which may be needed if I lived in Hawaii, but I live in a flat state with barely a hill; and grave markers (is there something I don't know about?).  The good thing is that it looks like it will be going down $14.97 from last year's premium.  It's not much, but it'll still lower my monthly mortgage payment.  That's $1.25 a month that I can put towards something else.  

I have all my monthly bills paid for the rest of the month and we still have another payday to go this month!  The next bill is not due until the 7th of next month and it's the only one for the next two pay periods!  I've already made sure I did a big grocery shopping.  We are set for food other than refrigerated items we go through quickly.  I spent over $215 so it better last!  So I think this is a good time for auto maintenance.  I need an oil change and new battery and DH needs an oil change, some other routine maintenance yet to be determined, and a couple of new tires.  We'll have to do some pricing.  For tires we like to check them out on Tire Rack to get reviews and pricing.  We bought my new ones on there earlier this year.  We had them delivered to a local shop to be put on and we couldn't be happier with them.

I believe that may bring me up to date for now.  If I think of anything else, I'll add another post later.

Final Dentist Bill and Incoming Money

I received the last claim statement from the insurance company so on Wednesday I went into the dentist's office to settle up with them.  The final bill came up to $299.50 so my total out of pocket for all their dental work was $671.60.  I'm glad I took care of it and got it out of the way.

I'm now waiting for the remaining balance of my student loan to post to my account.  You may wonder why I take the full amount when I also get a grant.  The reason is that it still doesn't cover everything.  I only get $600 a term in grant money.  That is about the cost of my books in a fall or spring term, which I pay out of pocket and then reimburse myself with the loan.  My tuition is around $1,800.  Any left over goes towards paying down my credit card to prepare for the next term.  The remaining also covers my summer term costs, which I receive a small grant for but no student loans.  

This is what this term cost:

Tuition--$1,831.28 minus $600 Grant = $1,231.28 minus $2,722.50 = ($1,491.22) remaining.

Books/DVD's--$582.18 minus $1,491.22 = ($909.04) remaining.

That remaining $909.04 needs to be "saved" for the summer term's tuition, books, and supplies, as well as any additional supplies needed for this term.  I'll add whatever is extra from the spring term to the fall term's remaining balance, too.

Doctor/Dentist Bills, Red Cross, End of Month

I received a bill from one of my doctor's for an appointment I went to in December.  I've actually had 2 other appointments since that appointment, but for some reason they messed this one all up by putting in the claim 3 times!  Pretty unorganized of them!  So now I have to fit in a payment of $125.32 to them.  I'll take care of that this weekend and get it out in the mail on Tuesday.

I've also received some more of the claim forms for my boys' dentist appointments.  So far it looks like I'll owe them $209.30 at least until I get the last claim form.  I underpaid on a couple of appointments and overpaid on one.  This is not as big as a deal because I was pretty much expecting it.  Plus the dentist office has not sent me a bill as yet either.  So we'll wait and see on that one, but I'll probably go in as soon as I've received the last claim form and settle up with them.

On the sidebar you'll notice a banner for the American Red Cross.  They are one of the few organizations that I support and believe in.  I do not in any way receive money or endorsement from the Red Cross for placing the banner on my blog.  

Since today is the last day of the month I'll probably be closing everything out.  It looks like I'll have $38.17 to transfer over to my emergency fund (other than the normal $117) from my round up fund from the checking account.

These are the final month end numbers:

Groceries: $379.07

Dining Out: $249.53

Gas: $540.41

DH's Work Lunches: $108.06

I'm not sure if I've missed anything.  The progression bars will be updated in a week or so when the mortgage, truck payments, and emergency savings are shown to be updated in their systems so I can get exact numbers.  Though I believe the emergency fund will be above $3,000 and the truck loan will maybe be close to $7,000.

Payoff Date Goals

Things have been kind of busy here dealing with storms, college classes, the boys going back to school, and their activities starting back up.  But at the same time the finances have been kind of slow going.  There just hasn't been anything much to talk about.  So I was looking over my posts here and realized that I never gave any dates of when I'd like to get everything paid off.  

I guess I do have something to talk about now!

1. Pay off truck loan early: My goal on this is to completely pay it off by December 2009.  The original maturity date is October 2011.  Once it is paid off, then I'll also be downgrading the insurance coverage so I'll be saving some money there, too.

 

2. Start paying down Heloc until student loans come due: This will be done from January 2010 through June 2011, which is when I should have to start paying on my student loans.

3. Pay off student loans as quickly as possible:  I do not have an actual payoff goal on this as yet until I see the final damage.  I'll have a better idea around the summer/fall of 2010.  But know it will be paid off early.

4. Finish paying off Heloc:  This will also depend on other factors like how much I paid off prior to student loans coming due and what my work situation is like once I start paying it off again.

5. Work on paying off mortgage early:  The original maturity date on our mortgage was January 2034, but we knocked it down to August 2032 with an employee loan through the bank as I worked with them at the time we bought the home.  We paid that loan off a long time ago!  My ultimate goal would be to pay off the mortgage somewhere between 2020 and 2022 or sooner.  Again it will all depend on paying off the other debt, my employment situation, and any other things that happen to pop up.

Updates and What's Going On

Well, Tropical Storm Fay has now completely left us.  We still had a few (very few) remaining storms come through yesterday, though we were able to get out of the house for the afternoon.  No damage so that's very good!  One down; ?? to go.

I still got the mail during the storm...yes, the poor mailwoman still had to deliver the mail!  I received a letter from my 401K plan saying that I have under the minimum $1000 and if I do not call by a certain date a check will be cut minus all the many fees and penalties they take away from you.  I know I received a check for all the funds to roll them over to my new Vanguard IRA.  Or at least that's what they told me!  So I took a look online and it's a whopping $3.13 for company stock!  $3.13!  It was probably some dividend or something that got applied after the check was cut.  So fine...cut me a check.  I'll probably get like $2.00 or something.  It's just not worth my time calling them to have it rolled over to my IRA.  Let the IRS get the 20% penalty or  $0.62...LOL.  I could always put $3.13 into my IRA and then get my $0.62 back at tax time.  Maybe.

I also received the explanation of benefits sheets you get from the insurance company for the boys' first visits to the new dentist.  I'll probably owe them in the $200 range.  Not bad considering they only charged me $50.70 for those appointments at the time.  We'll see what happens with that when the bill comes in.  

I've started updating the sidebar and progression bars.  It still needs some tweaking here and there.  My classes start tomorrow so my time will be limited until I get myself on a schedule.

Fuel and I Messed Up

Firstly, I want to ask what is up with gas?  The prices are going down, but it is still costing us the same to fill up!  There is something seriously wrong with this!  If it goes up a penny, then our cost skyrockets, but when it goes down .20-.30 cents, then our cost doesn't go down.  Totally crazy!  We're already up to $309 for fuel costs this month.

I readily admit that I messed up for this 2-weeks already.  I was so used to the boys being out of school that I didn't budget in the costs of them going back very well.  Plus groceries were more than normal due to school lunch items.  So I'm going to be short during this 2-week period.  Therefore, I'll need to take some out of the different savings funds I have set up to get by.  Not a lot, but enough to lower a few of them and have to play catch up later.  Thankfully, they are not areas where I need a lot of that money right now anyway and I have plenty of time to catch up.  

Oh well!  I guess it happens on occasion.  As long as it doesn't happen all the time, though I do now expect I may need to do some additional tweaking for the next few paychecks to get back on track.

Landline Discussion

My husband and I have been discussing this whole landline issue for the last couple of days.  He has done some research looking for different options.  It seems that the services available to us either take something away we really want/need or are more expensive.  Or they are not available at all to us as of yet.

Our conclusion?  We're going to stick it out for a little bit with what we have.  

You see our small city is starting to really grow.  All kinds of new things are going on: a new town center is being built with shops, offices, medical facilities, a movie theatre, townhouses, etc.; new developments (business and home) will be happening over the next 20 years out on U.S. 1 (though we won't wait 20 years to change phone service); new roads are being built.  

All this growth means, hopefully, better services and more competition.  We'll be holding out with the hope that the infrastructure will improve drastically over the next couple of years along with the prices/services available.  

In the meantime, we'll keep an eye out on anything interesting that can replace our landline (re: extra unnecessary expense), while still providing us with the internet services we require.  And we'll even look into replacing our paid security system with a homemade system to cut those costs--though that really is an entire other issue all together.  Maybe I'll touch on that issue later along with the costs associated with setting it up (*makes note to self*).

2-Week Pay Period: July 31, 2008 and End of Month

It isn't often that both the end of a 2-week pay period and the end of the month coincide.  This was also the end of a 3-check month.

End of 2-Week:

• The first thing I decided to do is to redirect my extra 1/2 mortgage payment transfer amount of $442.60 to my new extra loan payoff savings.  I just don't really need it for the mortgage so I figure it'll do me more good paying off some debt.  So along with some additional funds I managed to move over there, I was able to make two additional payments on the truck loan.  So this month I've made payments for August, September, and October.  And I still have $90.03 left in the extra loan payoff savings.  When it reaches another payment, then I'll send it in as an additional payment.
  

• I paid $100 for my August credit card payment.  I only owed $19.00, but I'm used to paying extra.  Besides I've had to use it more often lately because of the boys' dentist appointments.  
  

• I scheduled our cell phone bill for August in the amount of $63.75 (that's for two phones).
  

• I paid $99.91 on a doctor's bill for what was left after copay and insurance.
• I transferred the blow money for my husband and me; and the allowance for the boys.
  

End of Month:

• Groceries: $213.59
• Dining out: $184.31
• Husband's Work Lunches: $138.10 (can you tell bringing his lunch to work isn't working?)
• Gas: $570.21 (it's going down!)
• Prescriptions: $8.20
• Dental: $313.70

All our bills are now paid through the next pay period due on August 14th.  I may still need to update some of the numbers in the sidebar later because:

1. the mortgage payment hasn't gone through yet and I like to see the exact loan amount remaining after the payment.
2. interest in the savings accounts are not showing yet.
3. I always check the truck loan after the checks have cleared as the total amount due is usually lower (I tend to overestimate the interest and underestimate the principal).

I believe that about covers this last 2-weeks and last month.  Let's hope August is a good one!

Good Day

Today was a good day financially speaking.  While I did spend money, it wasn't as much as I was expecting.  YAY!  Well, I spent less in one place and a little more in another, but it was all for good.

OK...first I had to bring my boys to the dentist.  This was our first time here because the pediatric dentist they went to before closed his office in our city and now only has his office in the city to the north of us.  Not a long distance, but inconvenient when they have appointments during school time and I don't have time to pick the other up.  Then they both have to be pulled out of school!  Anyway, this was a new pediatric dentist, who like many dentists nowadays does not take insurance.  AT ALL!  Not a big deal because our last one didn't either.  That means I have to pay for everything up front, send in a claim form and wait for reimbursement.  I was expecting to pay hundreds of dollars today on my credit card on two kids for cleanings, x-rays (including an additional panoramic for one), and flouride treatments--to be paid off whenever the insurance company got around to sending me my money.  Nope...no such thing!  As a courtesy, this dental office will take a copay only, send in the claim for you, and bill you for any remainder not paid for by the insurance company.  So instead of hundreds of dollars for this initial visit I paid $50.70 in total--for both of them.  That is great considering the statement with the breakdown said the total for all services rendered was $507.00!  I still have to bring them in to take care of some other issues, but I expected that to be on top of the full bill I would have paid today.

Afterwards we went back to the new SuperTarget because I forgot a few things...mostly groceries plus I wanted to look for some sort of mats to put under the pet's homes (DS1 has a parakeet and DS2 has a betta fish).  Well, I initially needed bread and milk, but the boys had some flouride stuff painted onto their teeth and they were told not to eat anything too sugary because they cannot brush their teeth tonight.  I didn't think I had too many items they could eat so I picked up some bananas and grapes for them to snack on.  Plus it was getting late so I added some deli chicken for lunch and some french bread for dinner.  I also remembered that I forgot DS1's protractor for school when I bought school supplies.  At the register I remembered that DH needed some cash, which we rarely carry.  So I tacked on the minimum allowed--$10.  The total was $36.80--not bad considering $10.00 of it was cash, $8.29 was for items other than grocery, and $18.51 for groceries.  That brings my total groceries to $213.59 for the month.

PF Goals, Survey Companies, Expected Future Expenses, Considerations

PF Goals

I haven't talked about my 101 Personal Finance Goals for a while.  I guess it's because I'm still stuck at #46.  *sigh*  I need to spend some time thinking about what else I'd like to accomplish, though I suppose I don't have to think of them all at once.  I still welcome any ideas on the subject and would love to hear if you've started your own personal finance goals!

Survey Companies

I updated the money earned online section in my sidebar.  I'm seriously considering paring down quite a few of them once I hit their next payouts.  A few take way too long to earn any money and probably are not worth my time.  Others have me spend too much time on surveys and then tell me I'm not qualified without giving a partial payment or points.  

• American Consumer Opinion--I think I'll keep them on there.  They don't send many requests, but the few they do are usually worth my time.
• ClearVoice Surveys--Like American Consumer Opinion they have few survey requests, but are pretty worthwhile, though it does take a while to earn enough.
• Clixsense--Not worth it.  Would probably be better if they sent me reminder emails so I know what is available, but they don't so I miss out on a lot of them.  I may just cancel it now and call it a loss.
• Deals'n'Cash--I just started with them so I may give them some more time.  But it doesn't look good for them either.
• Ebates--Oh I'm keeping them!  I love shopping through them and getting cash back on items I would have bought anyway!
• epoll--I'm split with them.  They've been good in the past...nice short surveys, but I haven't been getting them lately.
• Global Test Market--I like them.  Their surveys can sometimes be on the long side, but the ones I don't qualify for still get me reduced points.  Plus I love the payouts--$50 for 1000 points and I've been getting a lot of survey requests so even if I don't qualify it adds up.
• Hits4Pay--It's like Deals'n'Cash (same company) and I may get rid of them once I get the payout because the emails are not really compatible with what I selected.
• InboxDollars--Takes too long to earn money.  I've been working for this first payout since last year and that's just too long!  $5.09 more and bye-bye to them.
• Lightspeed Panel--I like them, too.  Survey requests can be spotty, but overall they are a keeper.
• Mindfield Online--I used to like them, but since I've switched to Mac they don't like my browser, Safari, so it's taking longer to earn the payout.  Too bad!
• MyPoints--KEEPER!
• Netwinner--They are pretty much just for fun.  I don't expect to ever win anything though it would be nice if I did.  I don't play often, but I'll leave them there for fun.
• NFO MySurvey--I like them, too.  Nice short surveys when I get them and the points add up sufficiently for payout.
• Opinion Outpost--I used to love them, but I'm just not getting any survey requests anymore.  It's been almost a year since I've gotten one and I updated my profiles, too.  It's a shame, but they'll have to go, too.
• RewardTV--I just started with them, but like Netwinner they are just for fun.
• Send Earnings--Like InboxDollars they'll be out of here when I earn the payout...only $20.46 to go!  It'll take a little longer to get rid of them.
• SurveySavvy--I just started with them and so far I like them alright.
• SurveySpot--I'm not sure about them.  Still thinking about it.
• SurveyTeam--They'll probably be gone.  It really wasn't set up how I thought they were and I don't like them.
• Synovate--LOVE THEM!  They increased their points value recently and also give partial points depending on how much of a survey you qualify for and complete.
• Testspin--I'm getting pretty sick of them.  I liked them in the past, but they are getting ridiculous now.  I just need $4.00 to close them out.
• Zoompanel--They are great!  They give 5 points if you do not qualify and the surveys are pretty good, too.

I think I got them all listed there.  So anyway...the list on the sidebar should be getting smaller little by little as I get a payout with some of them and others will just be going away.

Expected Future Expenses

I'm expecting a few extra expenses soon.  I know I'll be getting a bill soon for my last endocrinologist appointment in June.  That is usually in the $100s because he's a specialist and I haven't reached my deductible yet...and probably never will.

I just made the boys each a much needed appointment for a new pediatric dentist here in town.  Unfortunately, they don't accept insurance so I'll need to pay in full and get reimbursed.  They do sometimes put insurance claims in as a courtesy, but I may want to do it myself and know it's done correctly and I have a copy of the claim in case something goes wrong.

School supplies will be coming up soon as they go back to school in 4 1/2 weeks!  YAY!  Did I just say that?  I meant: "Oh darn!  Now I won't be enjoying their wonderful presence during the day!"  That sounds good, right?

Considerations

So I'm considering whether or not to buy a domain name for this blog (not necessarily Ditch My Debt because it's already taken...I've checked so I have some ideas) or just keep it where it is for now.  

I'm in the process of considering the pros and cons for both.  I'm not much for programming and stuff so I'm a little leery of that, but my husband is a programmer.  I'm just not sure I want his hands on my blog...LOL.  I can do little things in HTML, but not full programming.  But if I find a good template, then I won't need to worry much about that.  *sigh*  It would be nice to have my own domain, but I wonder if it would be more work than I'm willing to give right now or not.  I obviously have some more research to do in the area.  

Any suggestions, clues, tips, hints, information...you get the idea...would be welcome!

Does More Income Actually Mean More Money?

I want to thank Fabulously Broke In The City for giving me something to talk about on these slow three days (personal finance wise anyways).  She wrote a post on July 4th entitled High Income doesn't necessarily mean Financial Smarts that set off a topic I like to talk about--basically people that have a lot of income (or what should be a lot of income), but still don't have any money and lots of debt.

One point that wasn't brought up was that income and how much is high really depends on where you live.  Other factors such as whether you are single or married, or have children or not could also determine what is considered a low or high income to someone.

For instance my husband's salary would barely pay the mortgage/rent if we lived up north.  Because we live in the south and have stayed out of the larger cities, then his income allows us to pay the bills plus some and I can stay home with the children now.  Five to ten years ago we were only making in the $25K-$35K range and managed to build two houses (not at the same time) and have two kids (again not at the same time).  My husband was able to stay home for a while during that time period to take care of our youngest son who was born with a birth defect and needed extra care, and go to school.  Now with DH working post-degree (and his student loans paid off early) we are making in the $50K range, living more comfortably, and I get to go back to school.  Imagine what we'll be able to save and pay off when we are both working!

At the same time I've known people that make more than we do, but still don't have a life as comfortable as ours.  Oh on the surface it looks comfortable!  One job layoff though and it'll be all over...no more house, no more cars, debts sent to collections, trying to figure out how to pay for food.  Yeah that could be bad!  

I don't believe that income has anything to do with whether you can pay off your debt and live comfortably or not.  Yes, more income does make it easier, but the real key is living below your means.  I'm pretty sure I've mentioned how we live below our means here.  Has it always been easy?  No, and more income would have been nice, but we managed and we still do.  

I do believe that there are people out there that try very hard, budget their money well, and due to situations out of their control still don't have enough to make it.  Just living below your means and budgeting doesn't always cut it for everyone.  But I think there are also a lot of people out there that would benefit if they would just live below their means and budget and the amount of income really wouldn't have anything to do with it.

2-Week Pay Period: July 3, 2008

I'm a little behind due to some school work (I'm happy to say I received a 96% on my test yesterday) and I still have more to do (another test today and two papers due Monday).  So let's see if we can make this a bit quick today.

Because of the holiday (Happy Independence Day!) my husband got paid a day early!  YAY!  That helped out tremendously because I was in real need of groceries with the boys home for the summer eating everything!

This is what I did:

• Transferred $442.60 into savings account for 1/2 mortgage payment
• Transferred remaining $43.00 ($8.60 each) into 5 virtual savings accounts (set up in my Quicken program): Auto Purchase, Christmas, Home Improvement, Investment Property, Vacation.
• Transferred the boys' allowances ($6 and $2) and our blow money ($25 each) into virtual accounts.
• Transferred $100.00 into virtual Auto Insurance savings account to prepare for January payment.
• Paid bills due prior to next payday: $100 to credit card (already set up), $62.53 to cell phones (already set up), $14.93 to medical bill, $300 to heloc payment (interest and principal).
• Got my husband's medicine refill: $5.48
• Bought $111.17 worth of groceries.

We now have about $467.00 left to last until the next payday on July 17th.  That's not bad considering we won't be going anywhere today or this weekend.  I estimate over the next two weeks my husband will spend about $195 in gas and about $56 in food.  I expect he'll actually spend less.  This leaves us with $216.00 for any other incidentals that may pop up over the next two weeks.

June Numbers

Yeah June is over!  That took a while!

You'll notice some updates on the sidebar:  

My net worth went down.  I expect this will happen quite a bit over the next few years due to different reasons.  Right now the stock market is going lower and that is messing with my retirement savings.  I also had slightly less in cash at the end of this month.  And my debt went up due to using my credit card and the payment goes through later this month.  Later my net worth will go way down because of more student loans, but they will pay down the credit card further to take care of college payments already made.

My emergency fund went up.  I earned $7.15 in interest this month!  My new savings total is $2, 776.26.

Our June spending totals look like this: 

Gas: $594.18 (We stayed under $600 this month!  Amazing!)

Dining: $232.31 (We've gone a little overboard on eating out lately.)

Groceries: $260.36 (Not bad numbers for groceries.  Of course, we've been doing more eating out.  I'll probably do another stock up this month.)

Prescriptions: $96.45 (Like I said in my mid-month post June seems to be a big month for prescriptions.)

Work Lunches (Hubby's only): $120.33 (This has been about average for him.)

Medical: $25.00 (This was an expected expense, but I will probably get a bill for this month for anything my insurance doesn't cover since it's for a specialist.)