Drum roll please....
In 100 days, if everything stays on track, I will be completely 100% credit card debt free!!!
This makes me very happy. And grateful for the light at the end of the tunnel I've been chugging along through since probably age 19. I've been SO close to paying off my balances before but never had the nerve to just shut it down and say no more. I'm glad that I'm willing and able to do that now. So very glad.
I'm cutting over 2 months out of the process by putting my "extra" paycheck for November towards the debt - 70% of it, in fact. That's the beauty of being paid 26 times a year, and I need to make better use of that little bonus when it comes around again in 6 months or so.
After the payments have been made, I'll be into the thick of student loan repayment, which is a bummer for the next 10 years. Ideally I'll pay them off early too, but my focus instead will be building up my short term emergency cushion of $1,000. Then it's onward to the long-term 6 month cushion. And THEN it's on to the down payment savings.
Ideally somewhere along that path I'll start bringing home more income and can accelerate my progress. That was the point of grad school - at least on one level! I feel good though. I feel hopeful for the first time in a long time, and I feel proud for doing this bit by bit. Makes the little sacrifices more than worth it. I got myself into this place, and now I'm very glad to be getting myself out. If only I had this revelation 5 years ago. Oh well, c'est la vie.
Tuesday, September 18, 2012
Saturday, September 15, 2012
That point during a big organizing session when...
you realize you've made a bigger mess than you started with. Of course, that's the whole point of organizing things, rather than just tidying up. You've got to bring everything out of hiding and let it makes its case for avoiding certain death via the trashcan, recycling bin, or goodwill pile. My willingness to let things go has only increased over the years and for that I'm glad. While I've had several, "why have I even been keeping this around?" moments today, I know I've avoided many more just by being judicious about what I bring home (freebies are especially unwelcome) and how often I pull things I no longer wear or care for from my closet and drawers to toss in a goodwill bin.
All that said, I'm still cringing at the site of my entire jewelry box laying out on the dining table (the box disintegrated, so a new solution needs to be found ASAP), the growing pile of boxes and bags for donating by the front door, the stack of "memories" I have to flip through before determining how to store the remainder and the as of yet untouched stack of boxes in the basement. Oh, and the pile of mostly-unwanted CDs (and partnering mp3s). Not to mention the fact that a disassembled queen size bed and mattress have taken up residence in my living room and kitchen for the past 6 days.
Tomorrow could be a long day. I had originally planned on heading to the office to catch up, but that's feeling less and less like the best use of my time. Sanity at work < sanity at home...I think!
All that said, I'm still cringing at the site of my entire jewelry box laying out on the dining table (the box disintegrated, so a new solution needs to be found ASAP), the growing pile of boxes and bags for donating by the front door, the stack of "memories" I have to flip through before determining how to store the remainder and the as of yet untouched stack of boxes in the basement. Oh, and the pile of mostly-unwanted CDs (and partnering mp3s). Not to mention the fact that a disassembled queen size bed and mattress have taken up residence in my living room and kitchen for the past 6 days.
Tomorrow could be a long day. I had originally planned on heading to the office to catch up, but that's feeling less and less like the best use of my time. Sanity at work < sanity at home...I think!
Tuesday, September 11, 2012
Fall Cleaning
Looking back through my entries from years past, it is abundantly clear that I enjoy the following: 1. organizing 2. cleaning 3. living in a tidy space. I used to religiously follow along with the Apartment Therapy folks when they'd embark on their biennial "Cures" - addressing each room of my place in a methodical (and sometimes crazed) manner: purging, deep cleaning, repairing, redecorating as my budget and free time allowed.
I definitely fall more towards the minimalist side of the "how cozy is your abode" scale, and while stark white modernism isn't the environment I crave, cluttered, dusty, uncoordinated rooms make me cringe. And today, my apartment is falling more towards the cringe-worthy side of the spectrum.
While the folks at AT gave up their guided "Cures" several years ago, I still have the book that guides the process and I'm thinking of breaking it out to embark on a fall cure, the first at this apartment, I think (though maybe there was a Kitchen Cure right after I moved in? Too early to really dig in). There are some serious deficiencies that need to be addressed and while the average bystander might not think it, my 650 square feet feel like they're bursting at the seams. To me, at least.
I've already got quite the "Outbox" filled, and a trip to Goodwill and the electronics recycling pickup are on my weekend agenda. Not to mention the fact that cleaning out my basement storage is still lingering on that old 30-before-30 list. No matter that 30 1/2 is around the corner.
I definitely fall more towards the minimalist side of the "how cozy is your abode" scale, and while stark white modernism isn't the environment I crave, cluttered, dusty, uncoordinated rooms make me cringe. And today, my apartment is falling more towards the cringe-worthy side of the spectrum.
While the folks at AT gave up their guided "Cures" several years ago, I still have the book that guides the process and I'm thinking of breaking it out to embark on a fall cure, the first at this apartment, I think (though maybe there was a Kitchen Cure right after I moved in? Too early to really dig in). There are some serious deficiencies that need to be addressed and while the average bystander might not think it, my 650 square feet feel like they're bursting at the seams. To me, at least.
I've already got quite the "Outbox" filled, and a trip to Goodwill and the electronics recycling pickup are on my weekend agenda. Not to mention the fact that cleaning out my basement storage is still lingering on that old 30-before-30 list. No matter that 30 1/2 is around the corner.
Saturday, September 08, 2012
Net Worth
Today, in early September 2012, I've noticed that my current net worth is essentially this: my car. More specifically, the value of my car were I to sell it. Strange, huh? It's not that I don't have a whole bunch of other financial assets and liabilities, it's just that they basically cancel each other out. My cash accounts are just about the same as my credit card debt. And the balance of my retirement accounts bear an uncanny resemblance to my student loans.
Despite this odd moment of realization, I feel as though I'm at a turning point, finally, with my finances. I feel like I am really, truly making progress and beginning to set out on a sustainable path towards future goals and the relief of not being burdened with debt anymore.
It won't happen overnight, nothing good ever does. I'm completely aware and completely ok with that. I'm not going to beat myself up anymore, but I'm going to be so much more conscious of my means - and will be working very hard to live within them, but still live well. I feel good about it all.
Despite this odd moment of realization, I feel as though I'm at a turning point, finally, with my finances. I feel like I am really, truly making progress and beginning to set out on a sustainable path towards future goals and the relief of not being burdened with debt anymore.
It won't happen overnight, nothing good ever does. I'm completely aware and completely ok with that. I'm not going to beat myself up anymore, but I'm going to be so much more conscious of my means - and will be working very hard to live within them, but still live well. I feel good about it all.
Wednesday, September 05, 2012
Today's thoughts on the budget
It's going. It's not easy, but it's what I WANT and I'm going to keep on keeping on. That said...
- Cash is easier than trying to remind myself how much I can spend when I'm still using my debit card. I'm going back to the cash withdrawal on Friday.
- It's hard to say "no" to things that people invite you to - even when they're family or close friends. And it's hard to rationalize your choice when it's decidedly not in the budget. And it's hard to tell those people you can't do it. At this point. I've said "yes" to two things that I don't think I can really afford. I don't want to back out, so that might just mean taking $ from savings...which I also can't afford.
- Cooking, especially on weeknights and just for one, is not exactly my cup of tea. But practice makes perfect and I don't have any other options here. I've learned that just because a magazine can take a pretty picture of a so-called "simple" recipe, doesn't mean it will taste any good. I've got to be far more judicious in where I draw my recipes - I would rather not eat my mistakes, and can't rationalize tossing things out while on a strict budget.
- It's not budget-related, but I am not a morning runner. I was a super crank today and I just can't start my day off well when I'm running late, tired, and don't have coffee. Ok, so maybe it IS budget related. I forgot the coffee, and have now run out of my budget for the week, so it will have to wait till Friday.
Monday, September 03, 2012
Cash-only check-in
This past Friday I successfully made it through one week as a cash-only girl. It was an interesting experience with lessons reaching beyond whether I could possibly make it 7 days on a tight budget without transferring money from savings or breaking down.
Most notably, I was surprised by how acutely aware I was of prices of items at the store, even those I "needed" and planned on purchasing. I took so much longer to shop for just a few items. I browsed carefully, looking at the clearance sections and comparing smaller sizes for overall value. Needless to say, shopping felt a lot more like work and another chore, rather than an enjoyable way to pass some time on a Tuesday night.
And I was much more conscious of how it must feel to do this all the time, be forced to choose the smallest, least expensive item, instead of stocking up because it is cheaper in the long run. When the money isn't there, shopping for value is a LOT more difficult.
This isn't going to be a terrible situation for me. I'm shopping for 2 adults, really, and I'm lucky to have a well stocked pantry and live and work close to several stores, making frequent small trips feasible. People on strictly limited budgets may not have this same proximity, and they also are less likely have large quantities of staple items like olive oil, vinegar, spices, cheese, etc.
So did I make it? Well, sort of.
See, I hosted my book club on Wednesday night, and I didn't exactly include the food I'd be making in my budget. I figured I could go over my $100 budget pretty easily if I took the easy route and bought things ready-made, but maybe I'd be able to stay within, or close to it, if I cooked from scratch. I searched my recipe books and the web, came up with a simple but tasty menu, and made my list. Unfortunately, I wound up over my grocery budget by about $30. Not all of this was attributed to book club, but I'd say at least $20 of it was. But I don't want to worry too much about entertaining. It's a rare opportunity and I'm happy to extend the hospitality my friends have shown me.
But no question about the lesson I learned. For one, I could have saved a bit by just doing more planning - using more of what I had on hand instead of needing to make that last trip to the store. And also, not surprisingly, doing the planning somewhere prior to the very last minute. Things ALWAYS become more expensive that way.
Most notably, I was surprised by how acutely aware I was of prices of items at the store, even those I "needed" and planned on purchasing. I took so much longer to shop for just a few items. I browsed carefully, looking at the clearance sections and comparing smaller sizes for overall value. Needless to say, shopping felt a lot more like work and another chore, rather than an enjoyable way to pass some time on a Tuesday night.
And I was much more conscious of how it must feel to do this all the time, be forced to choose the smallest, least expensive item, instead of stocking up because it is cheaper in the long run. When the money isn't there, shopping for value is a LOT more difficult.
This isn't going to be a terrible situation for me. I'm shopping for 2 adults, really, and I'm lucky to have a well stocked pantry and live and work close to several stores, making frequent small trips feasible. People on strictly limited budgets may not have this same proximity, and they also are less likely have large quantities of staple items like olive oil, vinegar, spices, cheese, etc.
So did I make it? Well, sort of.
See, I hosted my book club on Wednesday night, and I didn't exactly include the food I'd be making in my budget. I figured I could go over my $100 budget pretty easily if I took the easy route and bought things ready-made, but maybe I'd be able to stay within, or close to it, if I cooked from scratch. I searched my recipe books and the web, came up with a simple but tasty menu, and made my list. Unfortunately, I wound up over my grocery budget by about $30. Not all of this was attributed to book club, but I'd say at least $20 of it was. But I don't want to worry too much about entertaining. It's a rare opportunity and I'm happy to extend the hospitality my friends have shown me.
But no question about the lesson I learned. For one, I could have saved a bit by just doing more planning - using more of what I had on hand instead of needing to make that last trip to the store. And also, not surprisingly, doing the planning somewhere prior to the very last minute. Things ALWAYS become more expensive that way.
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