Friday, January 23, 2015

An unexpected windfall...

sort of.  I should have paid closer attention over a year ago when I refinanced my car loan.  Grrr!  When I originally purchased the car, I bought GAP insurance and wrapped it in to the loan.  Well, I refinanced the car loan 6 months after my purchase and significantly reduced my APR.  I did this through State Farm Bank and didn't realize that at the time, my insurance coverage also had loan/lease payoff on it.  I have been double paying for this same coverage.  Anyway, after researching it earlier this week I have come to find out that I can cancel the GAP insurance that is tied in to my loan and while I won't actually see the cash, it will be applied to my loan, therefore decreasing my total balance owed on the loan by about $800.  And because my car is still covered by the manufacturer's warranty, I am cancelling the extended warranty as well. I don't plan on keeping the car for too much longer, it's not a good fit for our family now, so that will also reduce my loan balance significantly.  All told, it should take about $4000 off my loan balance putting me in a much better position to be able to trade the car off.  Woohoo! This time when I purchase a new car I will not let the salesman and finance person bully me in to buying more than I want or can afford.  I'm not usually a pushover in situations like this and I have excellent credit, so I need to stand up for myself and not let them push me around.  I will be filing my tax return this weekend as well and I should be getting a small refund, nothing excessive, but again, every bit helps.  I also received a bonus at work yesterday and have sold several things on eBay that I've been wanting to get rid of.  Yay!  Let's hear it for extra income coming in. 

Hope you are all having a GREAT January! 

Current debt total:  $221,157.88  (I'm going to be under $220K in no time!) 

Tuesday, January 13, 2015

Planning my budget and spending...

Yesterday I sat down and figured out which paychecks will pay which bills, which rental income will pay down debt and put money into savings and whatnot.  I'm sure this will probably change or shift as the year progresses, but it felt really good to plot it all out.  If I'm able to stick to the plan I've made, I should be in really good shape by the end of the year and I will have made great strides in reducing my overall debt along with building a comfortable savings account.  I am paid every other Friday, so I was having a hard time setting up a budget based on months.  Instead, I plotted out each of my paydays and the date my rental income will come in, then figured out which bills will be paid out of the incoming money.  I've included adding extra to my savings account along with way, this is on top of what I have already direct deposited into savings from my paycheck.  I was feeling a little overwhelmed with facing the bills with having to pay rent at the apt. with the BF and my mortgage payment on my rental condo, but now that it's all plotted out, I feel really good about where it all sits.  Plus, I'm a planner, I love to see it all down on paper.  Dorky I know, but it works for me.  :) 

Have you made a budget or spending plan for 2015???

Current debt:  $221,461.10

Monday, January 12, 2015

WOW! An entire weekend of no spending...

that was a great weekend and I didn't spend a penny!  We had the most relaxing, fun filled weekend!  We watched lots of football and several movies we received for Christmas.  I made potato soup and we snacked on all kinds of goodies we already had in the cupboards. We worked out, we slept late, we even did a few chores around the house.  I love weekends like this in which we have a fabulous time doing "nothing" together.  When you can find someone that you enjoy doing nothing with as much as you enjoy going out with them, you have found a great mate!  And I'm happy to report that I've found just that person.  We have the best time together, no matter what we are doing.  I love that! 

Really not much to report from here, I have a couple large expenses coming up, but I'm happy to report that I have the money set aside for them already and they will not be adding to the debt total.

How are things in your financial house?

Current debt:  $221,651.06 

Tuesday, January 6, 2015

2015 goals...

I guess it's time I think about what my goals are for this year.  I'm back at work after taking a week off over the holidays.  I can't keep my head buried in the sand any longer.  So, without further they are!

     *Make my $2,000 annual loan payment to my parents in April.
     *Bring debt total down to under $200,000.
     *Remain credit card debt free.

And although this last one isn't the easiest to measure, it's one I have been working hard on for awhile and I'd like to continue working on.

     *Be more mindful of what I spend my money on and not be frivolous with my spending.       Thinking before buying.  Can I make do with that I have?  Find a cheaper option?  Buy used?  Put that expenditure off for awhile? 

I'd like to also continue working toward increasing my survey income and working on my Jamberry business, but not at the expense of spending time with those I love.  I want to "live" my life and not always be ruled by what is going to help the bottom line the most.  Make sense?

Happy New Year!

Current debt:  $221,725.10  (hey, look at that, already down a bit since yesterday!)

Monday, January 5, 2015

New resolve

to pay down the debt!  I'm making good progress and feeling good about seeing the numbers drop.  Let's hope I can keep this momentum up.  Not too much coming up in the immediate future that should cause too many expenses, but I've been working at building up an emergency fund to help take care of those situations when then arise, so I should be good if any do.  We had a nice NYE at a house party, then a relaxing weekend of cleaning up from the holidays, watching football and I made homemade soup yesterday. We went grocery shopping and a meal plan was loosely made for the coming week.  I think we are both excited about the extra money we have to put toward our separate debts now that we have combined households and only have one rent to pay. 

Other than that, not too much going on here, just looking forward to getting back in the swing of things now that the holidays are over.  Bring on SPRING!  :) 

Current debt:  $221,820.04  (where will this be 12/31/15???)  Hopefully below $200,000!