Category Archives: budget

August by the Numbers (part 2)

Just a quick update.  The medical numbers did finish coming in and my previous post was correct.  We were able to use the crisis fund we’ve built up since November to pay all 5,714.40. This amount covers both Z & my deductibles and copays.

And then beyond that, we were able to make a lump sum extra payment toward debt of $2,591.

Which means… my student loan is So Close to being under 10K. I thought it would be years before I saw that.

Thank you Lord for providing the funds to do this as well as helping us be disciplined and focus to follow through and be good stewards of what you provide.

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August by the Numbers

Ok… so not ALL of the numbers are in yet and I’m still waiting for a few statements so we can actually write checks and pay off medical bills, but we do have a pretty good idea of how it will play out.

To start with, we have to pay the hospital. The hospital bill that we are paying out of pocket for both Z & myself: 5,714.40.

That’s quite a chunk of change! But… considering it’s the largest medical bill I’ve had in my adult life, where I have not had to say “Hey Hospital, here are my financials, I have no money, please let me work out a payment plan” I’m super PUMPED! We planned well and will be able to pay this entire amount with money we saved up in the “Crisis Fund.”

Next – I went to another consignment sale. Why is this part of the numbers this month? Because when we’ve spent money that was not initially in our budget for the baby, we’ve used Crisis Fund money to do so. What!? Going outside of the budget!? In this case, Yes. We purchased some much needed items like a standard stroller. The stroller we bought would have been at least $200 new. We spent $38. 🙂

In total, we spent $135 at the consignment sale, for items that would have totaled $425 if they were all new. Also, as a side note, I made some extra income through consigning. A whopping $22.

So … we now have a much better understanding of how much extra crisis money we have and can put it toward debt.

Medical Bills paid: $5,714.40

Consignment Money Spent: $135

Extra Income: $22

Extra Debt paid: $2,591

Total Debt paid in August: $2,837

Since 1/1/2012 – Total Debt Paid off: $35, 773*

*For the purpose of Baby step 2 we are not factoring in our home mortgage

 

Consignment savings Running Total numbers:

Running total for used items: $393
Approximate amount if all items were new: $1,119

Savings: $726

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July by the Numbers

Z_Birth So… once again, not a lot to report. However – This is hopefully the last month that the debt snowball is on pause!

While I was laid off in April (and now plan on staying home), the self-employed one in the house has had a tremendous increase in work. Praise the Lord!

Also, baby boy was born mid month! 🙂 He’s so precious. Yep, I’m bias, but he’s a super cutie!

And if you recall from previous “by the numbers” once the hospital bills are finalized, we’ll be able to use the Crisis Fund to Pay All the Medical Bills (creating no new debt!) and throw the rest at my student loan.

I’m guessing that the total number toward debt will be a bit smaller than I would have liked or hoped (mainly due to my not working since mid April), but every little bit helps.

I was looking at my student loan this month, and just paying minimum or a few dollars over minimum since November means we’ve still made a little progress. We are now almost under 13K for the loan. To put this in perspective, this loan was around 35K when I consolidated it into a 20 year loan, in 2008. (We’ve paid off 22K in 6 years. And we plan on having it done in less than 12 months, which is ultimately 13 years ahead of schedule.)

All that to say I can’t wait to report back for “August by the Numbers.”

One thing that was a bummer for July is that we seem to have spent a lot on food. However, this is because my mom was in town and we made trips to Costco and Sams. We purchased extra, and then she made us a bunch of meals – of double or triple proportions. Now we have somewhere between 10-15 meals in the deep freeze for simple cooking. We also have a wonderful community of friends that are providing us with meals a few times a week for the next few weeks. Which means the August food bill will be low and more than make up for the larger food bill in July.

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June by the Numbers

We are only a few weeks away from the birth of our little boy – and yes we are super excited to meet him.

In addition to meeting him, to not being pregnant anymore, to having a new baby at home and getting into a routine – we are REALLY looking forward to getting the debt snowball going again.

As you know, we’ve been on hold, but once the baby is born and medical bills are paid – we will use the rest of the Crisis Fund to throw at debt.

I. Can’t. Wait.

In the middle of this month, we did dip a little into the Crisis fund to purchase the last remaining necessities for the baby (like the car seat).  At the same time, at the end of the month, we had a bit of extra income and gift money that we put toward the Crisis Fund.

That being said, I’m guessing it will be at least August by the Numbers before we have exact figures and know what portion of the Crisis Fund is for medical expenses and what portion is for debt. Mostly, the timing will be based on when we get final bills from the hospital.

I’ll leave you with the following picture, me at 37 weeks. Officially full term.

37_weeks

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Baby Stuff

Wow.  Baby stuff is expensive. But then, I already knew that.

Last week I spent several hours compiling a list of all the remaining items we needed and where the best deals could be found when it comes to completing our registries.

We went to one store and finish most of the items on the list. My hours of work ahead of time helped us head to the store with a plan – so we didn’t make any emotional, impulse buys. If it wasn’t on  the list, we didn’t get it. Plans are necessary to stay on budget.

Even though we spent a good chunk of change, I was so encouraged that this was really the first time we’ve bought anything brand new for the baby (other than some shelving for the baby’s room).  To this point, everything has been gifts or second hand. I know how much of a fortune we would have spent, had we needed (or wanted) to buy everything new.

Plus, it was wonderful that we have received a few gift cards and had at least one duplicate gift that we returned for store credit – so even that helped this weekend when we bought a bunch of things.

Now I’m up to my elbows in washing baby clothes and boiling bottles and pacifiers. Our living room has now been taken over by a stack of boxes full of diapers. At 34 weeks… this is getting real. 🙂

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Thankful

I just felt I needed to share how thankful we are for the generosity of fiends and family. I’ve mentioned in posts before, how we have received gifts for the baby and how the only new items we purchased are some shelving for the baby’s closet.

That still holds true.

Since those posts, we’ve received a few more gifts – a couple of which were duplicates, which actually is completely terrific! Because duplicate gifts mean I can return one and get a store credit. We are now a little over halfway to purchasing the car seat with gift cards & in-store credits.

It’s one of the few items we felt it would be best to make sure was new.

Other than that – in a week or so, May by the Numbers will actually have a bit of an update. The debt snowball is still on hold, but we’ve made some unexpected progress.

Stay tuned…

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Quick “used baby items” update

We have a spiral staircase in our house – so we are going to need to be creative about making the house safe. We also have almost all tile/Slate flooring (which is an often uneven step/hard surface).

So far, our solution to this will be using play yard gates (as apposed to standard baby gates that most people have) to block off the stairs and using those bign foam squares with maybe some rugs to make the floor a little softer of a landing.

These are all things down the road, but I was able to purchase both the play yard gates and the foam squares used.
What we paid: $100.
Would have been new: $243

Running total for used items: $258
Approximate amount if all items were new: $802

Savings: $544

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