Today is payday and I am excited to say that the retirement contributions this month reached $1K. I also met all of the savings goals for this pay period. Now I really have to careful for the next two weeks as to not exceed what's left in the checking account. I still have to pay the wireless bill, groceries and auto insurance.
Archive for September, 2015
I decided to borrow from the college fund to pay off four credit cards with outstanding balances. I'm cancelling automatic withdrawals for auto,homeowners and umbrella insurance policies. I seem to forget to include them in the budget and at the end of the month I find myself scrambling to pay them in full. Just not working for me. Credit Card usage will be at a minimum if we want to save 60% of our salaries. I should be able to replenish the college fund by December. We only have one outstanding balance at 0% for 14 months. We plan to pay it off by then.
I'm slowly preparing my hubby for a salary decrease in a few years (or sooner). I'm still adamant about stepping down from my job. He is supportive (somewhat) but I think very apprehensive about the salary cut and I understand. I am not thinking that way; I, for once, would like to put myself first. I've made tons of sacrifices to get to where we are now. Our priority was to payoff the house as well as put the kids through college. In a few years, DS #1 should be on his own or still living with us but with full-time employment and health benefits.
Yes, my salary is more than I thought I would ever earn and has helped us meet our goals, but money is not everything in life. Having said that, I made a list of things we need to do to have the house in top shape and today we begin the journey of saving 60% of our salary and living off 40%. It will be hard but I know that we can do it. I will still work but in a different capacity. The goal if $100K in savings by the time I decide to step down.
Please pray for me as I embark in this journey. I feel this is the right thing to do.
We took all of the remaining construction materials to Home Depot yesterday. I could not believe that there was $856.00 worth of materials sitting in the downstairs hallway. Super excited about that. We still have to return a bathroom faucet to Lowe's today for an additional $149.00.
I'm doing a food inventory today and meal plan for the week. Changing outdoor flags from summer to fall; it definitely feels like Autumn here.
Have a great Sunday.
The other day I set up an electronic contribution to my Roth IRA to be withdrawn on September 30th. Inadvertently, I forgot to change the date and the contribution was made immediately. It was not a lot of money ($125). This amounts to a total contribution of $825.00 to retirement accounts this month. If there is extra money, I'll try to round if off to $1K. I am playing catch up with retirement so every little bit counts.
We still have a little over $300 in the checking account and pay day is only 6 days away. I'll sweep and transfer the remaining money in that account on Wednesday to the college tuition fund. I really can't wait for DS#2 to be done with school.
There's a lot of stuff that needs to returned to Home Depot and Lowe's from the bathroom renovations. We will be returning all of it and purchasing to doors on Saturday. That should conclude the renos and I can finally see the final numbers in the credit card. We have 15 months at 0% interest. We will not be using this card until is paid off completely. By then, I'll probably close the account since I have other Chase credit cards.
I am feeling a better today. Slept well and the headache is gone. I am also taking a multi vitamin and zinc to boost my immune system. I took too many sick days last year and I'm trying to bank at least 6 of the sick days this year. We are able to accumulate sick days year after year.
I'm hoping for well-behaved students today!
I woke up with a nasty barometric migraine headache. I can tell when it is from the barometric pressure because it is a distinct headache. Only a good night sleep will help.
Anyway, I am very frustrated with my lack of organization lately. It's not about my house; it is clean and organized for the most part. It's about groceries. You know when you begin preparing something and realize that you don't have a certain ingredient you need. It's happened to me a few times this week. I usually do an inventory every Sunday but somehow I haven't lately. Need to get on the ball about this to save myself from aggravation.
On another note, I was supposed to have an teaching observation today but the administrator forgot about it. When I met with him for a pre-observation meeting I asked him if he wanted me to remind him via email. He said, "NO". "I am trying to get better." (his exact words) Well, towards the end of the period he calls and apologizes for his no show. I'm sorry but this is super unprofessional. It doesn't matter how long one has been teaching, observations are nerve wrecking. God forbid I was not on top of my game, I'd be shred to pieces. In my opinion, tax payers pay some administrators way too much money. I also dealt with a very nasty (behavioral) kid today.
Sorry about the rant, I have not been my best lately. I hope I can get out of this funk soon
Last night I spilled my guts to hubby. Somewhere down the line, I feel I must make an exit from my current job. I come home everyday with a headache and I can feel my job affecting my health and my desire to obtain a healthier nutritional lifestyle. I am very much an emotional eater. Since I have a few years before I can contemplate a probable move or save tons of money, I have to come up with a plan. The plan is to save 60% of our income for the next few years. By then, hubby can take a full pension and get a part-time job and DS#2 will be done with college and hopefully on his own with health benefits. We won't need as much money to meet our obligations. Don't get me wrong, I plan to continue working but perhaps in private school or another line of work. I would like to stay in New Jersey but not sure if this will be feasible on a reduced income. New Jersey is super expensive and property taxes alone are a little over $700 every month.
I am very much a visual person and I thrive when I have things written down. I also get a kick out of crossing out things on lists that I have planned and accomplished. Today I wrote down the plans I have to save money for the rest of 2015, including Emergency Fund, Slush Fund, Roth IRA and College Tuition Fund. I do not want to get complacent with all the money we've spent in home renovations and continue to spend money like there is no tomorrow.
Boy, am I glad this week is over! I definitely have the back-to-school blues. Working conditions with this horrible heat in non-air conditioned classrooms put me in a funk. In a nut shell, I am pooped! I've also had a terrible time with eating healthier and exercising. I have to get back on track. OK, enough of the whining.
Second bathroom is completely sheet rocked. I am hoping for a finished bathroom in another two weeks or less. No more renovations. I'm buying the vessel sink and faucet from Amazon and we definitely spent less on this bathroom. I am looking forward to getting back to spending less and beefing up the savings.
This is it...have a great weekend.
An instance when people do not understand or make fun of frugality:
Hubby was in dire need of a hair cut. My niece, who works at a high-end salon, highlights, colors and cuts my hair and cuts my husband's hair at our home (huge savings). Well, she's been really busy and was not able to come until yesterday which meant that husband would have to wait longer because he works a night shift. So I told him that I would cut his hair and he agreed. I'd been watching her cut his hair and I mimicked her techniques. It took me a lot longer than she would but I did not want to screw it up. I'm proud to say that I did a really good job. I told my sister about it and she proceeded to make fun of it and offered to give me the money for him to go else where for the hair cut. I know she did not mean anything by it but this was one of the instances where comments about our frugality hurt a bit. I got over it quickly and even watched tutorials on youtube on how to cut men's hair at home. I've watch many tutorials including how to can applesauce and have been successful. Hubby and I agree that I will continue to cut his hair.
We decided to go ahead and remodel the downstairs bathroom also. My brother-in-law will begin gutting it this Friday. We are not spending as much on this bathroom as much as we did with the upstairs and again all the material will be purchase with the interest free for 15 months credit card. His labor will be used paying cash. He also installed all new bedroom doors to match the new supply closet and bathroom door which we paid $16 for each door. Apparently someone special ordered the doors and never picked them up. It was a great deal for 4 solid doors and a hollowed one for the supply closet. We were thrilled about this special find. Now all of the doors in the upstairs level of our home match!
I started work today again. Needless to say, I'm pooped. I'm glad we have a long weekend ahead of us.