Tag Archives: budget

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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January by the Numbers

Not a lot to report.  Still slow work. Still expecting a baby in July. So… no debt snowball progress.

We were able to add a bit to our crisis fund.  My job does reviews and possible raises at the anniversary date of your start date.  My anniversary date was in October, but my review and all of the paperwork was not done until this month.  Unbeknownst to me – the company gives you back pay from the point of your anniversary if you get a raise.  So we were thankful for a bit extra in our check. ESPECIALLY because the payroll tax holiday ended and more taxes are taken out of my check.

One particular set of numbers I thought I would highlight is my student loan. Because we paid such a large portion off early over the last twelve months, technically speaking, my next payment isn’t due until 11/14/2017. Of course, we are still paying the minimum payment during this debt snowball pause so we don’t lose all the extra ground we gained (and tack on more interest).

Also – on the saving money front – we are so encouraged about how much one can NOT buy name brand when prepping for a new arrival.  I’m planning to attend two consignment sales (yeah for First Time Mom Presales!).

We are also very blessed and thankful for an entire tub of maternity clothes from family. I honestly don’t think I’ll need to buy much clothes for myself.

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A Debt Snowball Setback

So… in November I posted about how we were putting the debt snowball on hold due to a slower than expected fall. This was, and is still true.

However – we also had a second reason – which we could not share at the time… and while it’s a debt snowball setback – it’s also terrific news.

We’re expecting a baby!

Due this summer – so our debt payoff is on hold – but we couldn’t be more overjoyed.

And we are so thankful for all the hard work we put in last year.  Baby will be born into a family that is only a few more payoffs from being debt free!

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November by the Numbers

As regular readers know, I was so excited for the month of November.  Since I get paid every two weeks (and we keep a monthly budget that assumes I have 2 paychecks each month) – every once in a while, 3 paychecks arrive within the same calendar month. November was one such month.

Since it’s basically a ‘bonus’ paycheck and it doesn’t fall within the normal budget, we were planning on putting the entire thing toward debt. Because the last few months were slow on the self-employed front – we thought this would give us a nice boost of progress and encouragement.

Now for the sad update….

It has been slow. Really slow. Fall is normally the busy season, but due to slow economy and general uncertainties, this fall’s busy season never really got going.

We don’t really expect it to pick up all that much, anytime soon, so we are considering this a “Crisis.”  Now crisis is a strong word – we aren’t majorly hurting, we have some backup funds, however, we are trying to plan the best we can, hopefully heading off a potential HUGE crisis.

When Dave Ramsey talks about times of “Crisis” – such as Job Loss– (which we are kind of comparing this slow time to) – he says to put a pause on the Debt Snowball.  Save up the money instead. Use it as you need in the crisis situation. The goal would be to avoid accruing additional debt during the crisis. And Lord willing- once the crisis is over, some (maybe all) of the money you saved up – will still be in your possession.  At that point, take that money you saved and throw it at the debt snowball. So this is what we are doing.

All that to say, other than paying our minimums this month, there are no numbers to report.

Total Debt paid in November: $250*

Since 1/1/2012 – Total Debt Paid off: $31,018*

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

And then (not to be too big of a downer) but this also means that we will not meet our goal to be completely out of debt by the end of the year.

However, while we won’t meet our goal, we cannot say that it was a complete failure.  We are So Encouraged! Just over 31K  paid off in one calendar year!?! (and a slow year at that!) We KNOW that we will be able to finish once work starts picking up. We estimate that we have about 16K more to go, so we are really hoping and praying that by as soon as possible in 2013 – we will be debt free.

I’ll still be updating monthly on our progress – and with minimums, we are still knocking out really small amounts of principle every month.

Thanks for following along!

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October by the Numbers

So… again, a slow month. Not very exciting numbers – however, I guess for perspective, any number above 0 is better than what could have been. We did have someone give us $10 extra dollars for running an errand for them- so there was extra income this month 🙂

We’ve collected a few more items to craigslist or put on ebay, so hopefully we’ll have some extra income from selling those items soon.

Also, for my office Halloween luncheon, my department went as the social network, with all of us being different social media sites. I was Blogger, as in blogspot, where I blogged from 2005 – 2009. I had a Blogger shirt, very orange elements in my clothing and my prop, which was my “Pennies for Debra” jar because my “blog theme” was finances. (Not completely pretend. Ha!) Having the jar meant explaining what “Pennies for Debra” is. Which resulted in some contributions. 😀 So thanks for those that gave once purposeless pennies a new lease on life.

Anyway, here are the numbers:

Extra income: $10

Extra Debt paid: $403

Total Debt paid in October: $649*

Since 1/1/2012 – Total Debt Paid off: $30,768*

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

Click here to learn more about the origins and purpose of “Pennies for Debra”

Or, for a listing of all “Pennies for Debra” posts, just go to www.penniesfordebra.com.

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September by the Numbers

Again – nothing to exciting to report (other than the fact that, yes, we did feel the DFW earthquake yesterday).  As I stated last month, fall work is starting to pick up again.  With work coming in, we were able to apply a little extra to the debt.

I’m still not sure if we will make our goal of paying off all the debt before the end of the year, but we are certainly getting close.

Here are the somewhat, non-exciting, numbers:

Extra income: none

Extra Debt paid: $905

Total Debt paid in September: $1,151*

Since 1/1/2012 – Total Debt Paid off: $30,119*

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

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