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Archive for June, 2013

When it rains, it pours :(

June 27th, 2013 at 02:23 am

I left to France on Saturday and I was back home on Tuesday. My trip was cut short because I became ill when I arrived in Paris. I end it up purchasing a round trip ticket home, even though I was definitely not returning to France. It turns out that buying a round trip ticket cost $1,200.00 less than a one way ticket. The total cost of the air fare was $1,919.00, but I am glad I came home! I'm hoping that the insurance purchase by the touring company will cover my expenses to come home. If the company doesn't, I'll just have to take the financial hit.


P.S. I was able to see the Eiffel Tower!

Opinions needed

June 19th, 2013 at 06:29 pm

Situation: I'm 43 years old and my husband is 54 (he'll be 55 soon). As most of you know, hubby will be unemployed as of June 30th. He has an opportunity to buy back service years on his pension to the tune of $8745.00. He can start collecting on his pension at the age of 60. If he doesn't buy back the service years he will get a monthly pension of $800 but if he does he will get $1,000.00. I will continue to work until I'm 63 years old which is another 20 years. I was thinking that it might be to our benefit to put the $8,745 into my retirement accounts, a Roth IRA and a 403B. I'm also covered under the state pension but I'm not vested yet. I figured that the money will have more time to grow in my retirement accounts. My husband will not need to provide as much income since I'll be working at least 15 more years after he reaches the age to collect his pension and 10 more years when he starts collecting social security. He is also covered under my health insurance. We currently have no consumer debt and our home is paid for. What do you think? Buy back the service years or put the money in my retirement accounts?

Update

June 15th, 2013 at 12:14 pm

I'm happy to say that by June 30th, we will have the $8745.00 needed to buy back the service years for my hubby's pension. This mean that we will not have to tap into our emergency fund for the buy back. The bad news is that this leaves us with $1,700.00 to cover expenses for the summer until unemployment benefits kicks in. I really don't like to count on money we do not have in our hands, but I'm hopeful. We stopped using credit cards, except the sapphire chase for basic necessities, which I will pay back at the end of each month. We chose this card because I get $400 cash rewards if we spend $3000 in three months. I think we have $1,000.00 (all paid back already)and in August I will charge DS#2 community college tuition pushing us to the $3K. I think it may be manageable since we do not have to pay mortgage nor auto insurance. My ultimate goal is to keep our $20K emergency fund intact this summer.

Next Saturday, I leave to France for ten days to chaperone a group of students with some of my coworkers. So far this trip has cost me $388 (tips, insurance, passport and airport transportation). My DS#1 offered to purchase a much needed suitcase. I still have to go to the bank and covert $200 to Euros. The rest of my trip money will be charged to the Sapphire Chase credit card because it does not charge for exchange rates. This trip includes two meals per day and tours. I'm really excited!

Well, this is it for today. I hope you have a nice and frugal weekend.

Update

June 5th, 2013 at 11:16 pm

Graduation party for my DS#1 went well and as always our friends and family were extremely generous with monetary gifts. He moved out last night to his new place and I'd been okay, but my hubby and his brother are really feeling it. Mind you, this is a child who chose to commute to school. I'm proud of him for cash flowing all of his furnishings and appliances brand new. The graduation gifts went to get his bed mattress and to replace the cracked toilet. All he has left to buy is a small dining room table. He also told me that he put $150 towards the principal of the mortgage.

I'm leaving to France soon and I am super excited to make this trip! I'll have to exchange American money for Euros soon. I also have to get a better suitcase for this trip and a comfortable backpack.

Hubby is doing a little better with coming to terms that he will soon be unemployed. I'm hoping to pick up a little bit of summer work this year (crossing my fingers). Well this is for today and may you have a restful and frugal weekend.