Math

I was curious as to when exactly I would be able to replenish (and then fully fund) my emergency fund. So, I built out a spreadsheet (very similar to my car payoff schedule) and did the math.

Assuming I save 1,000 a month, switch my budgeting method so I have two extra paychecks to put back in my account, save my extra paycheck in July, and save the entirety of my next freelance check, I'll have just over 10k by August. Imagine! By the end of summer, I'll be able to MOVE ON!! I could also save an additional 5k by February. A year from today I could be 15k richer! [although it will be used for travel, I expect, or my Roth, so I guess it wont' stick around for long].

Mapping out my savings plan though, does inspire me. I'll for sure make sure that every extra cent goes into that fund.

duh!

NOT sure how I missed this one… but since I live on what I've earned in the month prior, I should be making my car payments when I get my paychecks (since they'll just be sitting in my bank account for a month waiting for me to use them). Duh! This also means that technically, I'll have my car paid off NEXT MONTH! (By making my March payment in February, when I get paid Friday, and my April payment in March the first check of the month). SO excited! I had originally planned to treat myself to a few choice spa treatments when I paid my car off. BUT… I don't think I will, because…

We're still toying with what to do with my freelance check… but we're leaning towards a one night/one day wine tasting/tour in the Santa Ynez Valley for Valentines Day. A little more than we'd planned to spend… but honestly? We've been together for 6.5 years and have NEVER ever taken a trip alone together (because we're always lacking funds, and for many years, general proximity). Except when we went to Disney World for a week… and poor boyfriend spent the entire trip sick with strep throat! Bummer :-( It just feels like something we deserve, and need. But we'll see what happens. 

When my car is paid off, I intend to put every cent that I had been putting on my car, towards my savings account. I absolutely NEED to get my savings built back up. And if I go back to budgeting with checks I'm earning within that given month (not ideal, but it will give me two paychecks to put in my e-fund), I should have it built back to where it was by June. And it will absolutely be maxed out not long after that (actual timing depending on when we move, but July IS a 3 paycheck month!). PHEW. 

I just can't wait to start saving for fun things, like a downpayment, a trip to Europe, and new furniture! Oh, and that Roth IRA that I've been sadly neglecting…

Freelance Income!

So, I've been working on a freelance project recently, for which I just received a very tiny partial payment (only 300). The rest is going to be coming sometime this spring. My question is… what do I do with it! I've got many ideas, but no answers yet. 

1. Put it towards my car

2. Put it in my ever dwindling savings account

3. Use part of it to take boyfriend out for a date on Valentines Day

4. Put it in our travel fund

5. Put it towards my car mirror replacement fund 

6. Roth IRA

7. Hold it until I have to pay my taxes in April (when I'll file)

etc, etc. There are obviously options that are smarter than others. But I'm at a loss!

I intend to use the next check (which will be much bigger) to add to my emergency fund. 

Menu Planning

In an effort to make my grocery budget balance every month, I've started menu planning. I pick recipes for whatever we're eating for a week, and then shop for ONLY those ingredients. I've already spent HALF my budget for the month! Ugh. I think I need to revisit that number when my car is paid off. It's impossible to live on 200 dollars worth of groceries for two people! (For me, I used to spend less than that a month when I lived alone. Now? Impossible. Apparently men eat a lot more). So… we'll see what happens. 

Auctioning

Last night, boyfriend and I attended a fundraiser. It was for a fantastic cause, there was a free dinner, and our tickets were comped, so how could we lose!? Neither of us had been to an auction before (it was both silent, and live), but it was really fun! A little tip from me to you? If you're ever in the market for things (like massages, spa treatments, restaurants, concert tickets, sports tickets, amazing hotel packages… etc) hit up a silent auction for a great deal! It was really fun just bidding on stuff, and making the rounds to see if you were still winning, placing another. There were some really great stuff going for WAY under cost (think Hollywood bowl box seats for only 200! (a 400 dollar value). I wish we were able to bid more, we would have gotten some fantastic deals! Boyfriend ended up winning a few things (that he's actually been wanting to get for awhile) for much much less than you would have paid in a store. Awesome!

The live auction was really fun too. Boyfriend went guns blazing for a really great item, but ultimately lost out to a guy with very deep pockets (he owns a yacht for crying out loud) who would have kept going all night. Oh well. 

We can't wait to attend next year! For one thing, we'll know what to expect, and we'll have money saved up just for the event!

Money Stuff.

Taxes.

I have never gotten a big tax refund (more than a few hundred dollars). I'm always jealous of the people who get thousands back! I claim 2 deductions on my W2, so I'm getting my "tax return money" in my paychecks. Which is better… but still. This year though, I'm going to be in the red. I OWE the government money! This actually happened once before… I think I owed like 100 bucks or so my first year out of college. Not sure why. This year, due to my being 1099-ed [freelance for my employer while I was laid off], I had to pay "self employment taxes" (which I think is a joke, considering I don't actually have my own business!). Thankfully I had a student loan interest write off that took care of half of it. As of now, I owe about 600 dollars. And I still have to add in my 1099 forms for interest earnings. Not pleased. Looks like I won't be filing officially until April… because I have no desire to pay this. I'd rather it earn interest in MY account for another few months. Argh.

Misc. Spending.

I paid off my shell card [which had budgeted expenses on it, like gas and things of that nature]. Now I have to pay the BIG one. Sigh. I'm officially taking it out of my wallet again. It seems I can't be trusted with it. The burden of paying it though, won't be fun. Some of the things on there were budgeted for, and I do have the money set aside [cable, a few things from Christmas, cell phone]. The rest? Looks like my savings account will look pretty barren after next month. And I have nobody to blame but myself! Ugh.

Freelance Income.

I have a freelance project which I did several months ago, which will be issuing me some money soon [partial payment]. The rest of the money will come in the spring sometime. I really hope it's not 1099-ed, but my suspicion is that it will be. Sometimes I think it's not even worth the money I get from freelancing, because most of it goes towards taxes anyway. It's honestly a huge hassle for me. However, I'll be putting that money on my car [if I get it before it's paid off], or in my savings account.

Moving.

Our move date is tentative… but it looks like it will happen early this summer. On one hand, I can't wait! On the other, it's going to be expensive. New apartments require deposits and such. Moving trucks [or at least the cost of gas, and a meal for friends with trucks]. They also require buying new things. This won't be fun.

Car.

My car is SO close to being paid off… but I can't. Why? Because of all the aforementioned items. This is frustrating to me… because although I know I've made amazing progress, I hate that I can't rid it quite yet. I'm being very impatient here (and I probably sound like a broken record!).

This Snowball Stuff Really Works!

I've knocked over 8,000.00 off my car loan debt since October. OVER 8k! I'm SO pleased! I can really see what sticking to a plan can do for you! I've tended in the past, to waver back and forth… do something for a month or two, and then decide to do it differently. Well, dedication is absolutely the right thing! I'm so excited that I've almost got that title in my hand, and I can start building up my savings accounts again! (Imagine… if I keep up, I can have my emergency account funded in no time!)

Most of me wants to *ahem* use my savings to pay off the rest… but I've already tapped into it more than I should have. I expect I won't be able to refrain however, in March :-)

I've also paid my entire car insurance premium (for the year). This is the first year I've had the money saved up and could just pay it at once. It's such a freeing feeling! (Although I do wish I could have saved it, or used it towards my car).