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Update on Finances

June 21st, 2008 at 03:54 pm

I've been very busy lately due to my running schedule and heavy work load. Just ran a 5K today at a decent 10 minute mile pace. I am happy about completing the run. My next goal is preparing for the 8K in July. My running group was key to me successfully completing the race. Lots of laughter and encouragement (especially running up hills!)

My job is moving to a new location at the end of the month. My drive was a 25 minute commute and will change to a 45 - 90 minutes commute depending on traffic. The good thing is that my employer is allowing us to telecommute two times a week. My work hours will permit me to avoid the morning and afternoon D.C. traffic jams. I also received a 6% raise which will be used to boost up my 401K, house emergency fund and to pay for higher gas expenses.

DH has negotiated a good salary and an outstanding benefits package from the new prospective job. He is now waiting to see if the military will allow him to retire in October. We hope to have an answer about his release date by the beginning of July. We are on pins and needles about this because there is a chance that the military may say no due to the current status of Afganistan and Iraq. This has happen to a friend who was due to retire in August but was denied and was immediately deployed to the conflict. All we can do is stay positive and hope for the best.

Our DS#1 has purchased his own bedroom furniture (used) and mattress set (new). Paid in full about $650 in cash money. He is now saving up for a television set for his future apartment. He also is continuing to save up for his three month emergency fund, first and last month apartment fees. He plans to look around for inexpensive living and dining room furniture in September. I still can't believe that he has a plan to move out the house in one year. He also had an unexpected car repair (alternator and electrical problems) that cost him $400. He was prepared due to his saving $500 in his car repair fund. He was very happy that he had this fund to pay for the repair. This is a proud moment for us.

DS#2 will be here in July for the summer. We are really looking forward to seeing him. He has all ready lined up a summer job. He has expensive tastes in clothes and electronics. This summer job will be used to supplement his expenses because we won't finance his wants. It will be a challenge due to his mother has a live life on credit and don't worry about the costs. My DH is worried that DS#2 will grow up living beyond his means. I told him that the young man can learn about finances from us but we should do it slowly without being pushy. Since he doesn't live with us full time that is all we can do. Raising young men is so much fun!

Extra Cash Plan

May 31st, 2008 at 04:20 pm

DH and I made a decision to use my $300 cash award in the following matter:

$100.00 House Emergency Fund
$30.00 Charity Fund
$35.00 Clothes Fund
$25.00 Pedicure
$55.00 Credit Card
$50.00 Personal Emergency Fund (I am trying to keep one pay period of my salary in savings)

It feels nice to have a plan for this extra cash. We use to splurge any extras and have no idea where the money was spent. At first we decided to set the money aside for the gas budget. We have budgeted our gas expenses very well due to us committing to alternate transportation methods, driving at 55 or 60 mph, reducing driving and planning ahead for the higher gas prices. This caused us to fill up once every 1 1/2 weeks and instead of once a week at the pump.

My DH said to use $25 to treat myself to a pedicure after my long run today. I decided to get my pedicure after the 5k run on June 21. It will be a welcome indulgence!

Work Award Recognition

May 29th, 2008 at 07:41 pm

Just returned from an award recognition ceremony at my organization. I was presented a certificate of appreciation and a cash award of $300!! YEAH!!! Totally out of the blue and I didn't see this coming. My boss gave out awards to several employees due to their sustained performance and work diligence. I need to think about what to do with this extra cash. No, I don't plan to spend it on clothes! (I am a reformed clothes addict.) I will dwell on this for awhile and make the best choice for the family. YEAH me again!!!!!!

Free Lunch

May 27th, 2008 at 05:59 pm

My bosses splurged for pizza, salad and dessert today for the entire company. The simple pleasure of working for a small business. This meant that I didn't use cash money for a meal! Using my $5 savings for my charity fund (Manna Food Bank). Life is good and very tasty!!

Found $

May 18th, 2008 at 02:36 pm

Went on my morning run and found $1.45 in change. Placed the change in my coin jar for our family treat fund. Great run and a little bit richer. Life is good!

Blah!!! Wow!!

May 16th, 2008 at 05:56 pm

Due to my extreme boredom at work caused me to ponder my personal budget. Watching my pennies and despite the rise of gas prices resulted in a $169 windfall in my personal checking account. My natural inclination is to rush to Ann Taylor and go shopping crazy. Love the blouses, pants, skirts, dresses and don't let me go on about the shoes (my weakness). I decided to wait until Monday. If I really can't fight the urge to spend then I will spend $75 for clothes. The rest will be divided between the household checking and household emergency accounts. If the urge passes then I will put the entire amount in the household accounts. I think that sounds like a wonderful compromise. But, I still want to spend. Help me get control!!

Counting Change

April 12th, 2008 at 03:06 pm

I got up at 5:30 today to go for a morning run with my running group. We are preparing for a 5K in June. Very lively and fun group! The pace was perfect for a 2 mile run. No one fell out due to lack of oxygen. There was intense discussions about popping Advil after our run.

I am finally going to cash in our change jar at the bank for our quarterly treat. We have been collecting our change for the past 4 months. It looks like we have at least $20 - $30! I plan to use it for a date with DH. We can get discount movie tickets (AMC, Regal or Lowes movie theatre chains) from the military base, get an inexpensive meal (using coupons) at a local restaurant or go out for a Sunday morning coffee at Starbucks after a long walk. I am leaning toward the Sunday morning coffee (much more intimate and we get to exercise).

My BIL#2 is still working to resolve his ID theft drama. The FBI has spoke to him and his wife yesterday. He also working to retrieve the documents on the HELOC (obtained by identity theft using BIL#2 wife info) from Wells Fargo with his lawyer. It looks like some progress with this disaster.

Excess Cash

April 5th, 2008 at 07:56 pm

Hurray!! I went through our March budget and noted that we are on budget! We were $125 under budget!! $50 extra to 0% credit card and $75 to short term emergency fund.

Extra Money

March 29th, 2008 at 12:13 am

One of my goals for 2008 was to volunteer in my community. I volunteered to participate as an election judge for the Maryland Republican and Democratic Primaries in February. It was a lot of fun and I really enjoyed meeting new people in the area. I really was proud to see the excitement from young adults who were voting for the first time. Regardless of their choice of political party they all felt empowered and wanted to make a difference.

The hours were long and it was very fulfilling! Plus the upside was I earned $155 for my efforts! Here is where the money went:

$15.50 - Charity Fund
$100 - Credit Card
$39.50 - Movie Night for DH and I

Tomorrow, I am volunteering to provide (free) basic medical care at the National Marathon. Also to cheer on friends and DH who are running it.