401k Update (Self only)
Personally Contributed $11,710.92 YTD
Company Matched $4,391.84 YTD
TOTAL Contributions YTD: $16,102.76
Current Personal Retirement Balance Total (without Spouse) $141,464.07 (UP from $119,755.27 on Jan 10th)
Health SAVINGS UPDATE
H.S.A Cash Amount: $43.24
H.S.A Investigated Account: $1743.20
Y.S.A (H.S.A) Account: $1916.36
Health Savings Accounts Total: $3702.80
Non-Mortgage DEBT UPDATE:
CC B (0%) $6,281.41
CC P (0%) $2,171.38
CC W (0%) Furniture Purchase $1754.35
CC B (PIF Monthly) $48.48
CC AZ (PIF Monthly) $66.31
CC T (PIF Monthly) $208.44
SLUSH FUND SAVINGS UPDATE (to be used throughout the year as irregular expenses occur):
Facebook Kid Sales (sale & purchase of items for the 2 year old via yard and FB sales) $199.50
Facebook House Sales (sale & purchase of items for the house) $41.00
Clothing Fund: $60
2017 Gifts Fund $1271.00
2018 Gifts Fund $140.13 (all from free sources of income)
House Slush Fund $329.94
Home Upkeep $52.29
Medical Slush $93.26
Auto Slush $320.84
Membership Slush $52.48
2017 Gifts Fund $1271.00
Car Insurance Savings $195 (paid bi-yearly)
Joint Savings: $500.19
EF1 Savings: $13,000
EF2 Savings $3855.03
2018 Gifts Fund $587.23 (all from free sources of income)
Nephew UGMA Acct: $947.74
Daughter UGMA Acct: $300.01
Daughter 529: $752.81
CC Repayment: $184
401k Update (Self only)
It has been quite a while since I have posted and I am sorry for that. Things have been crazy lately and I have been 'triaging' some of my priorities. I have quite a few updates and a goal to post much more regularly, so please don't mind the looonnng post.
I am writing this in a bit of a stream of consciousness, so bear with me.
*Short Sale on Townhouse (non-primary residence) is going slowly. The paperwork requires that we apply for a loan modification, although I will not qualify at this time (see bullet #2). Paperwork, paperwork, paperwork. Its a long and frustrating process, but I am dealing with it pretty well.
The mortgage company asks for bank statements, so I was incredibly annoyed to find a $1125 deposit from our previous property management company in my account last week. They accidentally applied someone else's income into my account (because of having the same last name). So because they couldn't figure out how to reverse the payment, I had to cut them a check to get it out of my bank account. They provided me documentation to send to the bank as well, since it was their error.
We actually have an offer on the house for the short sale, so hopefully we can present it to the bank soon!
*For the 1st time in my life, I am being 'let go' from my job. Its a weird situation - to save money, the company is pulling out of my state. They announced our site closure a little over a month ago and it will be closed by mid to late 2018. Different areas/people will be given 90 day notice at different times.
For my very specific and small job function team, we are currently starting training of employees in another state that would be the team taking over the work. Until they are up and running well, we would not get 90 day notice. Politics of the office - our bosses' boss hates our management team for various reasons and wants our state's site gone ASAP and has said as much directly to our group. Upper management said we'd likely go in mid 2018. She said, and I quote, her goal is "the end of 2017."
So that being said, we (my family) will lose my salary, my substantial overtime income and more at an undisclosed time. I have only been with the company 4 years, so my severance (after the 90 day notice) would be 8 weeks. The competition of 400+ people from my job site all looking for jobs at the same time is not worth waiting for that type of severance, so I am looking now.
I also am doing as much OT as I can to save up. My overtime is covering the rest of our normal household bills and my husband is using his salary to build an emergency fund in an account in his name only. This is his money as far as the mortgage company is concerned as he is not named on the townhouse mortgage and deed and they stated having his income in the calculations would be messy, so this is considered fine with them.
Once my job is being eliminated, that OT would not be able to be considered in calculations anyway, so saving a bit from it now is appropriate.
* Our baby girl is almost 2 and definitely not a baby. Things are changing day to day with her. She's feisty and fun. She turns 2 in August and we are planning a birthday party at home, keeping it very simple with friends and family coming over. Hotdogs, sides, cake. We have a very small budget, but a big set of guests. It should be perfect.
I already bought her 'big' gift for her birthday. An excellent used condition Strawberry Shortcake tricycle! Super cute and she will love it as her favorite thing to do is 'go outside!'. $12 out of pocket, can't beat it!
*We have made the choice to continue saving for retirement at our current rate. With my overtime, it increases significantly every extra hour that I do. We are very happy with the #s
* I joined Weight Watchers in late April. I really didn't get on the program until early May, but I am doing well. I have lost 24.2 pounds. I had some ups and some downs, but the overall loss is phenomenal to me. I fight against some thyroid issues and not having the time I'd like to incorporate a ton of exercise, so I am very happy with the results. My husband joined me in mid-May and is doing well too.
* Groceries/eating out/meal planning: Our grocery bill has increased a bit since we are trying so many new things/recipes. Our eating out spending has gone significantly down. Overall, the $$ is going in the right direction and I am getting to try a lot of new and fun meals!
Additionally, I have been packing breakfasts and lunches for work. That has helped with the WW and with saving money.
I have lots more to talk about, but those are the big things
Last month, we evicted the tenant and will likely not see that money back (although garnishment paperwork is in submission) It is what it is.
That being said, we are cash flowing the mortgage from my overtime and now cash flowing electric and water for the townhouse as well. We had to do some spackling/painting and pay a handyman to fix the front door frame, which was severely damaged by the tenant.
The house has been cleaned & carpets shampooed. I contacted a realtor who will be taking pictures today, so hopefully the house listing gets online ASAP.
1) OT Hours Goal: 30 hours
2) Savings (not including sinking funds, 529 or kid savings). $300
3) Debt Repayment (0%) $200
4) Cash flow rental townhouse mortgage payment (from OT) $1009
5) Sell a min of 5 items on FB Sales Site
6) Pack lunches of 15 In-Office days in April, I will pack 12 times
7) Continue tracking all personal & household spending
8) Professional Tasks:
a. Complete 1-2 webinars
b. Update resume
9) RENTAL UNIT:
a. Place for sale
b. Keep upkeep
c. Pay electric & water
10) Keep up calculations for utilizing OT to keep on track to max out 401k this year
11) Research larger house purchases:
b. Blinds for family room
c. Pressure washer
d. New bed & frame for master bedroom
1) OT Hours Goal: 60 Hours this month to cover mortgage on rental that is being prepped for sale, $300 per paycheck into savings and a 1/2 of the car repair I put on a 0% card [NOT MET – WORKED 44.92 HOURS OF OT IN MARCH]
2) Savings: $1046 (including Savings but not sinking funds, 529 and Kid Savings). [Actual Savings: $1410.03]
3) Debt repayment $400 (including the partial car repair) [Actual Debt Repayment: $551.05]
4) Cash flow Rental Townhouse Mortgage Payment: $1009 (from OT) [DONE]
5) Sell 8-10 Items on FB Sales Site. Baby items plus household items [DONE – sold over 52 items]
6) Pack Lunches a minimum of 3 times a week (only work in office 4 times per week, work 1 day remote) [FAIL]
7) Do Alt Income tasks (Bing, mypoints and mycoke rewards) [DONE]
8) Continue to track all personal & household spending (I don’t bother with DH’s personal spending – no need to know how much he spent on lunches, etc when it’s his fun money) [DONE]
9) Professional Tasks:
a. Mail Professional Membership recertification paperwork [DONE]
b. Complete 1-2 webinars [DONE]
c. Update resume [FAIL]
10) RENTAL Unit:
a. Complete repairs [DONE]
b. Meet with realtor about putting up for sale [DONE]
11) Meet Tax Professional – Appointment set for 3/7/17 [DONE]
12) Keep up calculations for utilizing OT to keep on track to max out 401k this year [DONE]
13) Research/plan for bigger house purchases: [FAIL]
b. Blinds for 1 room
c. Pressure washer
d. New bed and bed frame for master bedroom
So last night I dropped off my taxes to a professional. The very first time that I have not done our taxes. This year, we bought a house, put our townhouse up for rent, had non-payment from renter and a few other out of the norm financial items that led us to take the advice of a professional for this year's taxes.
I know from talking to friends and family and from reading blogs, that a lot of people focus on the amount they owe or are being refunded when they file their taxes. I know I am guilty of it, but I really want to take a hard look as the dollar amounts we pay in taxes – Federal, State, Local (if applicable), Social Security and Medicare.
We do pay attention to what is withheld versus what is estimated to be owed. Our refunds have usually been within $500 or so. Last year, we had a slightly larger refund. This year, I’m not sure how its going to turn out.
I am also looking hard at any way to lower my AGI to pay the least amount of tax as possible. Right now, my husband & I contribute to our 401ks, but not to the max for both of us. We contribute to a H.S.A, and a Childcare FSA. My goal this year is to try to contribute to IRAs for both of us and this year I am hoping to max out on my 401k at least.
Still – seeing the hard #s of what we gross, what we pay in taxes and what we actually net is eye – opening.
Do any of your take a hard look at the dollar amount and/or percentages paid?
1) OT Hours Goal: 60 Hours this month to cover mortgage on rental that is being prepped for sale, $300 per paycheck into savings and a 1/2 of the car repair I put on a 0% card
2) Savings: $1046 (including Savings but not sinking funds, 529 and Kid Savings)
3) 3) Debt repayment $400 (including the partial car repair)
4) Cash flow Rental Townhouse Mortgage Payment: $1009 (from OT)
5) Sell 8-10 Items on FB Sales Site. Baby items plus household items
6) Pack Lunches a minimum of 3 times a week (only work in office 4 times per week, work 1 day remote )
7) Do Alt Income tasks (Bing, mypoints and mycoke rewards)
8) Continue to track all personal & household spending (I don’t bother with DH’s personal spending – no need to know how much he spent on lunches, etc when it’s his fun money)
9) Professional Tasks:
a. Mail Professional Membership recertification paperwork
b. Complete 1-2 webinars
c. Update resume
10) RENTAL Unit:
a. Complete repairs
b. Meet with realtor about putting up for sale
11) Meet Tax Professional – Appointment set for 3/7/17
12) Keep up calculations for utilizing OT to keep on track to max out 401k this year
13) Research/plan for bigger house purchases:
b. Blinds for 1 room
c. Pressure washer
d. New bed and bed frame for master bedroom
1) OT Hours Goal: 54 hours in the month FAIL: 27.80 hours. Was sick the first week of the month and did not worry about doing OT.
2) Savings: $1046 (including House Savings, 529 and Kids Savings); Actual: $1061.64
3) Debt repayment $100; Actual: $157
4) Cashflow Rental Townhouse Mortgage Payment: $1009 – GOAL MET
5) Sell 5-10 Items on FB Sales Site – Sold 2 items and a 10 pack of clothes
6) Meal Plan all 4 weeks - FAIL
7) Limit lunches out to 4 days in the month - FAIL
8) Do Alt Income tasks (Bing, mypoints and mycoke rewards) – Did, but not consistently
9) Continue to track all personal & household spending (I don’t bother with DH’s personal spending – no need to know how much he spent on lunches, etc when its his fun money) - DONE
10) Keep within budget for Atlantic City Trip. Budget $200 for DH & I. We have a free room, are bringing drinks & food, have coupons for meals and are planning on only playing a few penny slots and enjoying time with our friends. - DONE
11) Professional Certification Tasks:
a. Attend Chapter Event - DONE
b. Complete 2-3 webinars - DONE
c. Sign up for recertification & start paperwork (once work pays) – DONE (Work submitted payment as well)
12) RENTAL:Unless paid up by Day 11 after court date (where the renter agreed to all amounts owed and the judge said we have the right to evict), the PM company will fill Writ with courts for 24 eviction. That would be on Monday the 6th, so wish us luck - DONE - Eviction complete. Repairs started and hoping to put on market asap
13) Set up tax appointment - I normally do our taxes, but with the rental, the rental income loss, etc, I am going to a professional for this year only - DONE
14) Start sale process on townhouse - Pending
15) Keep up calculations for utilizing OT to keep on track to max out 401k this year - DONE
Retirement Update Balance as of 3/1: $128,841.71 (not including Spouse’s retirement funds)
CC Debt Balance as of 3/1: $2470.86 (all 0%)
Sinking Funds Balance as of 3/1: $2195.78
Daughter Savings: Balance as of 3/1 $213.67
Daughter 529: Balance as of 3/1 $549.65
Savings Accounts: Balance as of 3/1 $13,789
Health Savings Account 1 (invested) Balance as of 3/1 $1799.67
Health Savings Account Balance as of 3/1 2 $803.21
Cash Savings (FB Sales) Balance as of 3/1 $259.50
2017 Gifts Fund Balance as of 3/1 $1271
2018 Gifts Fund Balance as of 3/1 $37.01
Total Alt Income in February: $79.01
I was sick a week and half ago - lost OT, because I took 2 days off to recover. So my OT goal for the month will likely not be met. I am fine with that. OT is a luxury, not a necessity
I am selling a few baby items this month & am gearing up to put together Groups of summer baby clothes to sell in lots. Hopefully that will bring a few bucks in.
My husband and I went to Atlantic City with some friends for Superbowl. 4 couples, 3 free rooms. We splurged on valet parking ($10) and gambled a little (with planned cash) and had some food. Spent about $200, which was the max amount we had budgeted. So that was a win. We had a blast!
Today, our one friend helped my husband load up and unload a bedroom set from some friends nearby. It was sitting in their basement and we needed a guest bedroom set. A queen bed frame & headboard, a night stand and a dresser and mirror/shelf top. $30 approximately spent on a truck rental and maybe another $20 on dinner for the friend who helped us move. Great deal for us! I hope to take pictures once its fully set up.
Saturday: Chili & cornbread
Sunday: Out of town (Atlantic City)
Monday: Make due from the fridge
Tuesday: Pasta & meatballs
Wednesday: Honey Balsamic Pork Chops
THursday: Shake N Bake Chicken
Lunches: prepped a bunch of egg salad and prepared grab & go portions of nuts, applesauce and cornbread muffins.
Breakfasts: rice chex and milk (for me), my daughter gets breakfast & lunch at daycare and my hubs sometimes packs and sometimes doesn't, using his fun money to eat out. He handles that himself though.
1) OT Hours Goal: 54 hours in the month
2) Savings: $1046 (including House Savings, 529 and Kids Savings)
3) Debt repayment $100
4) Cashflow Rental Townhouse Mortgage Payment: $1009
5) Sell 5-10 Items on FB Sales Site
6) Meal Plan all 4 weeks
7) Limit lunches out to 4 days in the month
8) Do Alt Income tasks (Bing, mypoints and mycoke rewards)
9) Continue to track all personal & household spending (I don’t bother with DH’s personal spending – no need to know how much he spent on lunches, etc when its his fun money)
10) Keep within budget for Atlantic City Trip. Budget $200 for DH & I. We have a free room, are bringing drinks & food, have coupons for meals and are planning on only playing a few penny slots and enjoying time with our friends.
11) Professional Certification Tasks:
a. Attend Chapter Event
b. Complete 2-3 webinars
c. Sign up for recertification & start paperwork (once work pays)
12) RENTAL:Unless paid up by Day 11 after court date (where the renter agreed to all amounts owed and the judge said we have the right to evict), the PM company will fill Writ with courts for 24 eviction. That would be on Monday the 6th, so wish us luck
13) Set up tax appointment - I normally do our taxes, but with the rental, the rental income loss, etc, I am going to a professional for this year only
14) Start sale process on townhouse
15) Keep up calculations for utilizing OT to keep on track to max out 401k this year
60.26 hours worked
No income from non-paying Renter
$1009 mortgage paid
AMOUNT REPAID: $866.09
AMOUNT LEFT: $2576.07 AT 0% THROUGH YEAR END
ANNUAL EXPENSES PAID:
FB Baby item sales $18
Cash EF: $170 added
Joint House Savings: $974.96 added
Daughter 529 $20 added
Daughter Kids Savings Acct: $10 added
*Not including funds that go into sinking fund savings accounts
January Savings Amount:
Cash EF: $170 added
Joint House Savings: $974.96 added
-$25 cashflow from DH
-$250 from Childcare FSA reimbursement
-$191.64 from Childcare FSA reimbursement
-$300 from DH Pay
JANUARY Financial Goals: Update
1) Pay $463.08 towards 0% Debt: ACTUAL PAID: $866.09
2) Sell 5-10 Items via FB sales site: 7 ITEMS SOLD - Made $18 in Alt income from FB sales
3) Work 60 hours of OT: ACTUAL WORKED: 60.26 Hours
4) Meal Plan each week: COMPLETED 3 OF THE 4 WEEKS WITH A PLAN (It’s a start)
5) Calculate what is needed to meet Professional Re-Certification
a. Make step by step plan: DONE
b. Start request for employer to pay for recertification: APPROVED, PENDING PAYMENT
c. Pay to join Local Chapter (not covered by employer) $30 fee annually: DONE
d. Sign up for 1st Chapter Event (Free with membership): DONE
My OT goal for Jan was 60 hours and I just eeked in and met it at the end of the month! Yay for me.
Jan 1 to Jan 8 - 22 hours OT
Jan 9 to Jan 15 – 15.13 hours OT
Jan 16 to Jan 22 – 11.43 hours OT
Jan 23 to Jan 27 – 8.73 hours OT
Jan 28 to Jan 31 – 2.97 hours OT
TOTAL JANUARY OT 60.26
Although its Tuesday, thought I'd put up my meal plan for the week.
Sunday: Chicken Patties with mozzerella, pasta & sauce
Monday: Baked Barbeque Chicken and corn
Tuesday: Meatball sandwiches with mozzerella
Wednesday: Baked Potato Bar
Thursday: Honey Balsamic Pork Chops and Rice
Friday: Steak and Blue Cheese Salad
This week, my meal planning was non-existant, but we were working with a lot of freezer stuff & leftovers, so it works out.
Monday - We had leftovers
Tuesday - I made do as it was my husband's late night at work
Wednesday - Hubby made pork chops & fries
Tonight (Thurs) - I am going to dinner with a friend, so probably hubby is getting take out for our daughter & him.
Friday - We both have a happy hour with friends and my daughter is being watched by my parents.
The point of me saying this - is I am trying new recipes. The last week of meal planning, I tried a fabulous recipe for honey balsamic pork chops. SUPER yummy.
However, we are looking for new ideas. Asking anyone in the community to feel free to share ideas and/or recipes! Thanks in advance
Contribute $8k to 401k
Company 401k Match Goal - $2770
Pay off CC TY $1087.11(Paid off Feb 6th)
Pay off CC FR $5762.60 (Paid off Mar 6th)
Pay off CC BA $9257.35
Pay off Car Loan $1595.93 (Paid off April)
Cash Only Gifts - Birthday AND Christmas
Spouse Paying off the last of the credit cards he came into the marriage with.
1. Keep contributing 14% to 401k (plus 6% match)[increasing to 16% as of 3/18]
2. $2500 to HSA (PLUS $1500 Company Match). Already set up
3. $3333.33 to Childcare FSA (PLUS $1666.67 Company Contribution)
4. Cash only Birthdays/Holidays/Christmas (add $1294 to 2016 Gifts Fund)
5. Increase New Home Fund by $8000
6. Increase EFUND by $946.81
7. Increase Vacation fund by $274.86
8. Increase Nephew Savings by $500.05
9. Increase Medical Savings by $483.69
10. Increase Car Savings by $442.68
TOTAL GOAL: $27,715.42
STRETC GOAL: $30,000 - EXTRA TO NEW HOME FUND
Mix of personal, work & financial
1. Pack breakfast and lunch for work 3 of the 4 days per week we are in office. There are 2 holidays in January, so the Monthly Goal would be to pack 17 times this month.
2. Drink 48 oz of water every day. Its more than my annual goal, but I want to have a great start.
3. Exercise 3-4 times a week for a minimum of 30 days. My schedule is hectic, so incorporating this time will be a challenge. Once I start working it in regularly, I hope it will be easier.
4. Eat Healthier (nonspecific goal either than high protein, low fat, added dairy)
5. Pay $463.08 towards 0% debt
6. Work 60 hours of OT
7. Attempt to sell 5-10 Baby/Household Items
8. Meal Plan each week
9. Calculate what is needed to meet Professional Re-Certification. Make step by step plan. Start request for employer to pay for recertification. Make plan for if they refuse to pay.
1. Get Renter Out
2. Sell Townhouse
3. Cash only gifts/holidays/Christmas. I include all birthdays, holidays, cards, Christmas, Thanksgiving groceries, my daughter's birthday party in this category, so it seems big. I need to add $1249 to this fund in 2017
4. Pay off small debt at 0% before it runs out in 2018 $3481.09. Part is medical expenses that I am hoping to just cashflow paying the card for instead of using funds from my HSA. But we will see.
5. Keep up OT to pay Rental Townhouse Mortgage so we don't have to utilize any further savings
6. Add to Emergency Fund by $5000. Stretch goal is $8000. This would be significantly dependent on goals 1 and 2.
7. No new debt
8. Continue FB sales of household and baby items.
9. Continue 16% of salary to 401k
10. Continue contributing to Childcare FSA for $1666.67 contribution from employer (Automatically set up already).
1. 30 Minutes of Activity 3-4 times a week. So for the year 156 days of a minimum of 30 minutes activity. The Stretch Goal would be 208 days of a minimum of 30 minutes of activity.
2. 5 days a week of hitting 48 oz of water per day. I am terrible with water. So I am setting the 5 of 7 days goal with a stretch goal of 7 of 7 days. (260 days of the year/stretch 365 days).
3. Eat healthier. I don't want to put a weight loss goal on it, but that essentially is my goal. To have more energy, stamina and to lose weight.
4. Mealplan each week.
1. To refocus myself in the position. I have been feeling burnt out and want to expand my experience in a few areas. I will not be sharing the specific steps
because its work specific.
2. Finish completing requirements for my career accreditation. Need to re-up at the end of the year.
Financial Changes in 2016
This was a big year for us. We bought a house (yay), put a large down payment down, put our townhouse out to rent, working with a property management company, moved, had medical issues, and got a lot of overtime in.
I was able to cash-flow major expenses such as the purchase of a lot of furnishings, a car repair, the movers and Christmas. Some furnishings were bought new, some bought used, but all clean, long term use items.
We funded slush funds that are not calculated in the amount of money change in 2016 as they are not savings or cash-flowed large purchases.
Cash-flowed Purchases Include
All of Christmas Expenses:
A dining room table plus 6 chairs
2 8 x 10 area rugs
2 kitchen stools
1 bathroom area rug
1 couch and 2 arm chairs
1 couch & loveseat set
I cash-flowed large purchases in the amount of $6139.72
We paid Expenses on the Rental Property to the tune of $4576 after Rental income.
We saved $12,531.99 towards the New Home Fund, which was then used in additional to the amount already saved to make the deposit/closing costs on the new home purchase
We saved additional amounts of $1503.82 in the Home Fund, $892.95 in the EFund, $1001.59 in the 2017 Gifts Fund, $389.46 in my Nephew's Savings account, $193.72 in my daughter's savings account and $472.92 in her 529 account. TOTAL SAVINGs INCREASE: $4454.46
I contributed $17,474.02 to my 401k, the company matched $6785.30.
My company also provided $1666.67 in my CHildcare FSA.
In Addition, we created Cash Savings:
Emergency Cash at home: $218
FB Baby Sales $199.50
House FB Sales $51
So our financial turnaround this year was definitely significant.
My little one is already incredibly into books. We read to her, she flips through books herself, she 'reads to us' (she's one, so she's just babbling at us with some real words thrown in). I want to foster that love of books, so we have a bunch and incorporate the library (more later than now obviously).
However, a woman locally was selling 100 kids books for $30. At 30 cents each, and including several series of books that I loved to read as a kid, I bought them. I did try to counteroffer, but she held firm. LOL Using money I had from FB sales of my daughter's stuff, no budget money was spent.
At the same time, I sold one of my daughter's old infant toys for $5.
I am ending the year with $199.50 in the FB Baby Sales envelope. This is Sales minus Purchases from the site.
1. Keep contributing 14% to 401k (plus 6% match)[increasing to 16% as of 3/18] COMPLETED. CURRENTLY 401K CONTRIBUTION FOR MYSELF IS AT 16% AND WILL STAY THAT WAY INTO 2017
2. $2500 to HSA (PLUS $1500 Company Match). Already set up COMPLETED
3. $3333.33 to Childcare FSA (PLUS $1666.67 Company Contribution) COMPLETED
4. Cash only Birthdays/Holidays/ChristmasCOMPLETED
5. Increase New Home Fund by $8000 COMPLETED AND USED FOR NEW HOME DEPOSIT/CLOSING COSTS
6. Increase EFUND by $946.81 GOAL POSTPONED DUE TO PURCHASING NEW HOUSE
7. Increase Vacation fund by $274.86 GOAL POSTPONED FOR NEW HOUSE PURCHASE
8. Increase Nephew Savings by $500.05 INCREASED BY $400 AND GAVE $100 CASH AT CHRISTMAS INSTEAD
9. Increase Medical Savings by $483.69 POSTPONED DUE TO NEW HOUSE PURCHASE
10. Increase Car Savings by $442.68 POSTPONED DUE TO NEW HOUSE PURCHASE
This year, we purchased a new house, rented out the old one, had a renter stop paying after 2 months, cashflowed several large purchases. I will do a post of this years 'financial change', but it is significant and I am happy!
In 2016, I was able to contribute the following:
$14,747.02 My Contribution
$ 6,785.30 Employer Match
$21,532.32 TOTAL CONTRIBUTION in 2016
Because of increased contribution percentage, plus overtime, this is the best contribution amount I have had before and definitely the largest employer contribution amount! Woohoo!
When we bought our new home this summer, we decided to hold off on selling the townhouse that was in my name only & instead rent it out. This was for several reasons, mostly financial.
We went through a very reputable Property Management company, who did a thorough vetting of applicants. We (my husband and I) made the final decision on the renter. She had ok credit, no issues with previous landlords/apartment complexes and although was lower income, seemed to be good.
She moved in mid-August. Paid up the deposit, 1st months rent, etc. Paid September and October with no issues. She sent a check in November, which BOUNCED.
The same week we were notified it bounced, I was in the neighborhood dropping off my 2016 HOA check and saw that the front door (screen door) was off the hinge and laying in the yard.
I notified the property management company, who said they had no contact with the renter about any issues with the door and that they had not received any response to calls, emails and a note on the door about the rent.
Because of the issue with the door/damage to the property, they serviced notice per state law for an indoor inspection and a day or 2 later, did a walk through.
The interior had no issues, was well maintained and very clean luckily. The PM left a note that because of the lack of contact and the returned check, they would be speaking to the owners (us) who may choose to exercise their right to start court proceedings.
The renter called that night. They said they'd been in a car accident and had to be out of work, had their phone shut off and other excuses why they didn't reach out.
They said they are just returning to work now and would be paying a 1/2 payment the next Friday & another 1/2 payment the following Friday. However, this would put them another month behind as December 1st was in between those 2 promised payments.
Based on the lack of communication, lack of clear plan to get caught up, bouncing a check so early into the lease, etc, we decided to go with giving notice & starting court proceedings to get her out of the house.
State law has us waiting for a court date. In the mean time, Dec 1st passed with no payment. The Promised Payment Friday did not appear.
The PM talked to her again and she said she meant the 'following Friday as she's paid biweekly'. That next Friday passed with no payment as well.
As of today, a 3rd Friday passed with no payment. So she is 2 months behind, owes 2 months of late fees and is aware of the eviction process starting.
If she magically got caught up , we could drop the court proceeding, but in the mean time, she is not in communication and has not paid.
We used our Rental EF of 1 month mortgage to the Dec 1st Mortgage payment. I cash-flowed 1/2 of January 1st's mortgage payment and used savings for the 2nd half.
For Feb 1, I am doing OT to avoid using savings for the payment. IN Jan, we should get a court date, but it could be until late Feb before she is out. Once she is, we are going to just sell the house.
Its going to be a real challenge to sell at the amount owed on the mortgage
We knew renting was a gamble and it did not pay out for us. Unfortunately the house values in that neighborhood plummeted quite a bit in the last 8 years and its not going to get better. Crime went up in the area and a lot of homes are for sale, but just sitting.
I am not looking forward to this process, but we have and will be doing everything to do this in the smartest way possible. Wish us luck!
01/14/2016 $5 AGC bing
02/08/2016 $20 coke reward agc
02/13/2016 $19.78 ebates
02/22/2016 $37.92 TD cc rewards
02/26/2016 $50 samsung pay bonus
03/06/2016 $4.25 Red Bull Settlement
03/07/2016 $25 Citi TY Bonus
09/06/2016 $20 agc bing
09/16/2016 $11.99 amazon cc rewards
10/13/2016 $66.08 TD cc rewards
10/14/2016 $5 AGC bing
10/24/2016 $2.01 Red Bull Settlement
11/10/2016 $78.2 TD cc rewards
11/14/2016 $15 AGC bing
11/15/2016 $26.18 ebates
11/16/2016 $110.17 BOA cc rewards plus bonus $100
11/22/2016 $150 checking bonus
11/30/2016 $5.55 coke reward agc (partial)
12/05/2016 $14.45 coke reward agc (partial)
12/22/2016 $2.9 Discover balance refund
12/22/2016 $5 AGC bing
2016 FB BABY SALES
2/1 $50 Lot of Newborn CLothes
2/1 $6 1/2 shirts
3/1 $10 shirts
3/1 $5 Boppy Cover
3/1 $8 3 month onesies
3/1 $10 6 month onesides
3/1 $8 Minnie mouse outfit
4/3 $10 extra infant car seat base
4/6 $40 infant car seat & base
4/25 $5 maternity shorts
4/18 $5 baby outfit
4/29 $12 baby clothes to Brittany
5/4 $15 playmat
6/19 $22.5 yard sale
6/20 $40 3 bags 6-9 month baby clothes
7/30 $8 superhero bibs
8/1 $8 extra boppy sale
8/17 $10 4 oz bottles
9/6 $14 9 oz bottles
10/18 $8 bouncer & blankets
10/19 $5 Halloween outfit 3 months
11/07 $3 holiday bibs
11/17 $8 bumbo seat
11/19 $10 9 month xmas clothes
12/4 $5 xmas outfit newborn
2016 FB Household items sales
2/27 $5 house survey
7/4 $40 cradle
7/5 $20 upholstered chair
7/29 $3 mirror
11/17 $8 wall hanging
11/19 $35 wall shelf
TOTAL ALTERNATE INCOMES: $1105.98
Retirement update as of 12/8/16
$117,088.35 (not including my husband's 401k).
Its been a while since a good post from me, I plan on doing more soon. Lots to catch up on!
We had a good holiday weekend. I cooked Thanksgiving dinner at our house for myself, my husband and daughter, my mother-in-law, 3 sisters-in-law, 1 brother in law, 1 boyfriend of my SIL, 1 13 year old nephew & 1 1.5 year old niece. It was a lot of fun and a LOT of food.
My folks were invited, but my mom wanted to do Thanksgiving at her house. This is the 1st year in my life that I did not see my parents/sister/nephew on Thanksgiving. It was weird, but luckily drama-free (my mom is not a fan of 'sharing' me at the holidays).
Since the dinner was last minute, I did well at shopping, but still spent about $119 for groceries. Everything turned out well, the guests brought food too and we had a really nice time.
Friday, the baby's daycare was closed. My husband was off, but I was working from home, so he got to sleep in & I did pretty well with watching a 15 month old and still actually getting work done! lol.
Saturday, we had to drop off my husband's car to be repaired and we ended up at a local nursery/store that does a big Christmas business. My daughter got to ooh and ahhh over decorated trees inside & out of the cold. It wasn't very crowded and we bought an ornament and a new tree topper. It was a nice time.
Today, we vegged at home, I had a slight migraine, so I spent a good part of the day on the couch. We ate leftovers for lunch and I made Italian wedding soup for dinner. Very nice & relaxing.
All throughout the weekend, I did a little online deals Christmas shopping. Got a few really good deals, so that was nice!
I know a few of you guys were recently talking about/recommending a steam cleaner. Could someone point me to the post(s) that reference that topic? Guess who is in the market for one? haha
|<< Newer Entries||Older Entries >>|