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Archive for July, 2015

Credit card/ update

July 29th, 2015 at 02:06 pm

Today I searched the internet for a new credit card with no balance transfer fee and 0% APR for at least 12 months. I was happy to come across a website that actually provides a list of the best credit cards under the terms I wanted. I picked the second best only because it allows you to do as many transfer balances under the same terms withing 60 days and it's for 15 months. I figure I can keep my money in the bank and pay the bathroom renovation materials within the allotted time frame.

On another note, bathroom is completely sheet rocked and we should be installing tiles by early next week. I can't wait!

Also, I'm on my 5th day of no soda and bread! I've also exercised 4 four days in a row. Tomorrow I will meet my goal of 5 days of exercise.

Aiming for a Healthy Me

July 26th, 2015 at 05:17 am

I finally decided to do something about my unhealthy lifestyle. My 50 year old sister is now on dialysis Frown and my father passed away from coronary heart disease at the age of 67. I don't want to find myself with the same problems. I also have to purchase work clothes and the thought of buying clothes the same size I wear now drives me batty. I don't like how I feel and my confidence is shaken due to the excess pounds. I'm on my second day of no soda; I have a heavy coca-cola drinker and I'm now avoiding bread. I am drinking a little of bit of coffee to avoid the no caffeine induced splitting headaches. Meals will be sensible, I'll walk at least 5 days a week and no grazing at night. To tie this to finances, I guess I will probably save money on the long run if I live a healthier lifestyle. Smile

Would you cheer for me? Smile

Savings/Expenses

July 24th, 2015 at 06:41 pm

I decided to continue depositing the $2,500.00 usually deposited into our emergency fund every month in August. I don't want to keep adding to the construction budget and overspend on the remaining project. The $2,500.00 in monthly savings is the result of our home being paid in full. This is what we were paying in property taxes and mortgage (our property taxes are hefty).

We also have two big expenses coming up:

August bills
$6,750.00 Fall semester for DS#2
$2,300.00 Quarterly property taxes

We have $6,620.00 saved up for tuition so we'll cover the remaining $130 with hubby's paycheck. This reminds me that we will have to aggressively save to cover tuition payments for the Spring and Fall of 2016 semesters. This should mark the end of cash flowing our sons' college education. I will do the happy dance then!

This is it for today. I hope you all have a great weekend.

Laundry room completed!

July 20th, 2015 at 06:39 pm

Hi! Laundry is finally completed and we are about $1,100.00 under budget. �/ We will use the money to cover any unexpected issues with the now gutted bathroom. Brother-in-law will begin tomorrow with a clean slate. We budgeted $7,500.00 and I suspect that it will take about three weeks for the bathroom renovation to be completed.

Here are some before and after (washer/dryer have not been installed yet).











Son opened a Roth IRA

July 14th, 2015 at 04:15 pm

I'd been after DS#1&2 to open up a Roth IRA for a while. Today, my DS#2 told me he had a large amount of money to deposit. I mentioned that he should take some of that money to open a Roth IRA. He listed to me and with $300, he opened a Roth IRA. I suggested that he put at least a 1/4 of his monthly savings in his Roth. He agreed! I'm proud of him; he works an average of 30 hours and goes to school full-time in the evening. Mission will be completed once I get DS#1 to open a Roth.

I am aiming to have $15K in the EF once all of the renovations are done; I'm only $800 away from meeting the goal. Once I start working again in September, I will aim to save as much as we can to recuperate the money we've used to do the home repairs.

Reno update

July 13th, 2015 at 11:40 am

The budget for both the laundry room and the tiny bathroom is $13K. We are hoping to come under budget in the laundry. $4K of the budget is to pay for labor which leaves us with $9K to buy materials, shower, toilet, cabinet, etc. I hope we are able to replace the rug on the staircase and top landing if we come under budget. Smile

So far:
$450 has been spent but tonight we are buying cabinets and tile and wood flooring for the laundry room.

Wednesday is pay day and I'm hoping to put some money in the savings account.

Pay increase and retirement

July 11th, 2015 at 10:09 am

Starting September 1st, my salary will increase $177 (before taxes) a month so I decided to up the contributions to my 403B retirement plan an additional $50 per pay period. This amount will increase my contributions to $600 a month. It is a substantial amount but I am playing catch up since I was a stay-at-home mom until my boys were 13 and 10 years old. I also stopped contributing for a whole year when my hubby lost his job. If there is any money left from the pay increase, I will put that in the Roth IRA.

The laundry room should be done by this coming Friday, after that my brother-in-law will begin on the bathroom renovation. We are shopping around for tile for where the washer and dryer will sit and the rest will be hardwood floor. We probably won't spend much on those two things since it is a small(ish) space.

Today is my DS#1 25th birthday! I had him when I was almost 21 years old. I was very young but my Mommy instincts kicked in quickly and I like to think that we did a good job. He is a hard working young man, college educated, owns his own place, pays his bills and has never asked for a cent since he began working part-time at the age of 17 years old.

Hope you all have a lovely weekend.

Oh boy, another home project

July 9th, 2015 at 12:00 pm

We have this extra room in our home on the second floor with no closet so technically is not considered a bedroom. When we first bought the house we thought of using it as a humungous closet or creating a laundry room. Fast forward eight months later we opted to convert the room to a laundry room. Two flights of narrow stairs to the basement to do laundry is just down right dangerous and taking a toll on my bad knees. My brother-in-law, who is a general contractor, is doing the work and I am super excited to have a laundry on the second floor of the house. We are paying cash for the bathroom reno and laundry room. I will post pictures when the project is completed.