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Archive for August, 2017

Pondering this point: How to live on last months income

August 21st, 2017 at 12:20 pm

I like YNAB, plus some other programs out there that I'm considering; however, I tend to be a jumper and tend to lack the capacity to be faithful to one system or hybrid of (so I guess I never get to the point of fully implementing and being successful).

I *really* like the IDEA and CONCEPT of living on last month's income. One blog I used to follow pretty closely was six figures under (or how a family eradicating six digits of law school debt while living in the inlaws' - I believe, unfinished - basement. They live on last month's income. I've perused some articles.

Anyone here actually do it? And if so, how'd you get to that point?

Update:
$50 from coupons savings is in reserve account at PNC
$200 expected bonus from opening a Huntington 5 checking account (this will serve as a ST saving account) (opened with $1,000 savings contribution from August)

Zero-based budgeting (update)
$150 cash for rental property's garage door **
$50 cash toward china closet

** There is a $15 rebate on this that I need to submit to Menards, so door in actuality was $135.

Ended up sitting on rest of funds for various reason (waiting on FAFSA award for oldest/so may need to cover her book purchase this week) So pending is: dryer purchase and balance of china closet are waiting. I will fund the $50 oil change for Corvette from living expenses of 8/25-9/8

Still here. Still maintaining. Still marginally invested in my money life.

Zero-Based Budget - Giving it A Go

August 16th, 2017 at 02:01 pm


Early next week, we will have $700 for extraneous expenses. ($400 from rent/$180 from DH's second job/$120 insurance reimbursement). This is after $1,000 monthly saving goal.

Just corresponded with DH by email about how to spend it. Looks like this is the breakdown:

$320 for new and basic dryer from Sear's Outlet
$180 for an antique china cabinet we are buying to replace our large one (I will resell and recoup some funds)
$130 for the purchase of new exterior garage door for rental property
$50 for oil change on DH's Corvette

Let's see how this new budgeting approach and attitude work.

Still planning on the $40.xx transfer to external savings - this was coupon savings for the current spending period.

First Step at Maintaining Momentum

August 15th, 2017 at 09:53 pm


I'm still tracking the spending. This time I'm also tracking actual coupon savings and have a column reflecting the cumulative weekly total. For this spending period (8/11 to 8/17) I have saved $40.08. This is from paper coupons, ECB, employee discount on school supplies, and a whopping $11 representing 50% off of a new toilet seat for the house).

To diminish the futility of this act of tracking, I have decided that every Friday following the end of the period, I will transfer the savings to a separate account. The co-mingling of all liquid funds is in conflict with my new attitude of having every dollar have a specific job.

So Friday, I'll transfer the $40.08 to the other account. I don't anticipate having that much coupons savings after this since I'm hoping to move to low-spend, but at least every little bit is a step forward, a small momentum.

That's the only progress thus far since my lamenting post. Thank you for the support and encouragement.

Struggling to Maintain Momentum

August 13th, 2017 at 04:13 pm


Honest confession: I'm bored with money. I've spent an inordinate time worrying needlessly on not having it, or having it and making it last, and etc.

I've automated retirement savings (went from 1% to 10%, adjusted down to 6% which is match cap). I've decided to use the resources available to us for paying for this year of college. I've decided to enter the work-force again part-time during this year of career-preparation. My children have earning potential or are earners (with the exception of the 7th grader). I've been able to cash-flow things like home repairs and rental property maintenance and a vacation. We purchased the last car with cash and are maintaining it. We've been able to do some spending like setting up our 50 gallon fish tank paying cash as we go (mostly gifts to DH for his birthday/fathers day/etc). So life is good.

I suppose that I was in survival mode for awhile (last Sept-Nov when we had to deal with the rental property vacancy and upgrade). Well, we are surviving now. I'm missing the oomph to get to planning for the bigger picture. I want to "thrive" and be excited about things, but I frankly don't know how to do it.

I clearly lack a system for planning for future expenses; confession: I am envious of all fellow SA-ers who have been tracking pre-pay and savings goals. (I am a poor goal setter and executor, obviously). I would like to have one for a future car/new furniture/family vacation/etc.

Anyone whose stayed with me this far, I thank you. If you could throw this old girl a kernel of encouragement and/or share what you do to maintain motivation, I would be very honored.

Sincerely,
Un-motivated one who desires to be Motivated, but feels rather "stuck"