day 94- WOW, My Efforts Have Been Noticed
After three attempts to notify NCN of my update from October 13th, I finally got word to him. You know the one- the update where I mentioned SAVING $5000 to pay off my stupid debt
Here is what he had to say:
SavyBudget,
YAY! Awesome. I'm so glad that you reached your goal! Would you be willing
to do a quick write up for the Network about your goal, how long it took, how
you were able to reach it, and what role the Network played (if any) in your success? That
would be awesome! You can just send it to me by replying to this email. Let me know
and I'll post your new, completed chart once I hear back from you..
You rock!
What an honor! I would love to do a quick write up. Hopefully it will be a better job than my recent blogging.
First off I want to say a huge thanks to No Credit Needed Network. I love seeing my pie chart fill up. I also love competing against certain other people who are paying off debt. NCN doesn't pit it's members against each other- I do that myself from the comfort of my own computer chair.
Which brings up one of my most successful techniques. I play games. I will set a goal and see how quick I can reach the goal. I play sub games, like my infamous EF jar, the one everyone heres about all the time.
When NCN post my write up I will link it righ here.
Today we had our company picnic. We also had the handing out of Nicorette Patches.When they handed out the patches I was the ONLY person taking part. Then one more person joined up last minute.
The company has not come out with concrete written criteria. At first we heard they were sponsoring the whole thing. Then today they said one month.Then a little later in the day they said the ywere sponsoring one month then negotiating from there. A little later.... the owner said they were sponsoring us for two months. I wish I knew the whole story.
Anyway... I am quitting smoking. That is $1500 a year I will NOT be spending. That is the same as a $3000 raise. I am setting my Quit Date for November 1st. That is also All Saint's Day.
My mantra is, " I am no longer a smoker. The impact on my financial future and my health is muti-fold. I will be an independent and healthy old lady."
Day 90- My New Coach Purse and Musings
While out working today, I took my lunch break at a little thrift store where I found a COACH purse for $1. It looks new and has the prequisite serial numbers. Score!
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Today I returned the loaned tools and EGR valve to the auto store. I ended up with a $65 return. YEAH!
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Time to make a confession. I did a little shopping this week. I bought about $50 worth of stuff. Some I needed and most was just stuff. :( I am a sucker for office supplies.
A positive note is that so far I have resisted buying an embroidery machine. Although I may not choose to resist if the price is low enough on Black Friday.
I am working on a POA for using the machine to make money. I decided that since I want one, then I need it to pull it's own weight. That is an expensive toy to have. I am researching the macines, patterns available and the cost of the thread and other supplies.
Just because I reallly, realllly want it does not mean I am going to get it. But I think with a little research and determination, I can do this.Although there is still the issue of the funds for the initial purchase price. supplies and all will come to about $600. That is a sobering number. Because I would have to sell about $1000 worth of merchandise to be happy.
Day 87- I Got Respect
Yes, ladies and gentlemen, we are coming up on the 9 months to go mark. ( 9 months and 2 days to be exact). I have mixed feelings about the countdown. I am excited as I get closer and closer to Financial Empowerment. It also makes me a bit nervous. My time is running out to accomplish so much. I feel like I should be accomplishing more.
I have to remind myself that I am making strides and building lifelong habits that will benefit me. Like this weekend, I took my car into the shop. Instead of using a dealership or some shady mechanic I do not know, when my car needs a repair, I take it to the shop in the town where I grew up.
My mechanic is honest and economical. I learned something new this weekend. He respects me as an intelligent person too. He lets me watch and answers questions. He helps me be an informed owner of an expensive piece of machinery.
One of the parts I purchased was 59.99. I did a little research. It seems that this particular part can often be salvaged by cleaning it out with carburetor cleaner. It simply gets gunked up and that is why it is not functioning.
When he was removing it, I mentioned what I had learned through research. I did not think he was listening. He stated more often that not he replaced the controll part along with this particular part and he wished he knew how to know which ones was going bad because the code was the same for both. :: side note- the control part is only available from a dealer and is expensive:::
Well he finally got the part I wanted changed off. He looked inside and saw it was gunked to the hilt. He cleaned it out using the method I discovered, replaced it and it is working like a charm. Even better, I get to return the part and get a full refund. CHA ching!
I did not even know this man needed to learn anything. He is tops and when he fixes something it stays fixed. We both win. Since he was willing to have an open mind, he tried what I mentioned to him and discovered new knowledge. I saved money and received some well appreciated respect. Which is pretty amazing since a lot ( not all) mechanics write a woman's opinion off from the start.
Which bring about another point. Knowledge is power! I took the initiative to research the repair and was smart enough to run it by a knowledgeable person in the same field. I went in with something to contribute. I saved a nice chunk of change because not only did I save on the EGR valve, I avoided having to replace the really expensive part that is only available frm the dealership.
Another valuable bit of knowledge was seeing just how gunked up some those parts are. My mechanic advised me to use a particular additive for a while to help clean out other parts. I can see that he is right on the money with this advice. I am going to consider using the Chevron gas if I can get it at comparable prices.
Day 86- YEAH
9 months and 3 days.
The weekend went fairly well. I saved on shipping a Christmas gift to my oldest sister (my little sister is sending it with her box of packages) and ended up receiving a box of Laundry detergent. 100 plus loads for FREE. That pretty much takes care of all my laundry expenses next year ( washers are free to use in my building)- YEAH
I did not turn the heat on at all this weekend nor did I suffer for it. When I found myself a little chilled, I put on my socks, then slippers and a sweater. After each addition I was toasty warm. This morning I did use an electric space heater in the bathroom but other than that I was perfectly fine. I love to save but there is no need in suffering. I will turn the heat on when there is sufficient cause.
I did start adding another quarter to the LTEF jar for every day I avoid turning on the heat. It is still fairly warm here with an occasionally chilly day or evening. Nothing socks, a long sleeve shirt and a sweater doesn't easily handle. I have calculated that I save approximately $4 each day I put off firing up the furnace. In one month, that is over $100.
Update on "End of The Year Quarter Challenge"
As of this morning, I have 119/400. Yeah. To stay on track, I need to have 134 by Halloween, which is definitely doable. I love the push of trying to reach a goal. This one requires me to find more and more ways to save money AND I don't get credit unless I actually implement the savings.
I am getting more and more excited about my 2007 quarter challenge every time I look at this end of the year challenge. I know I am going to meet and exceed my 2007 goal of adding $500 to the LTEF just by adding one quarter at a time (from saving a minimum of $1).
When I finish my 2007 quarter challenge, I should be able to add regular contributions to my LTEF into my budget. These quarter challenges are just a way to build the habit of contributing to my EF ( procrastination is such a bad thing) while I focus on debt reduction. When I have no more debt, I will be able to really build the LTEF.
Day 83- 9 Months, 6 Days
Where has all the time gone?? It seems like just a few days ago I started this blog and just yesterday that I added the 1 year challenge. In the time since I started this blog I have accomplished some amazing feats!
As many of you have read I finished setting aside $5K for a very stupid debt.. Not only that, I have gained more self assuredness about my ability to meet goals and to prosper. I can now see that in less than a year, I will be actually building wealth.
On another note, I am seeing my possessions in a new light. They are not things to use up and replace. They are assets that met my needs. And like all assets you should maintain them.
Of course there are times when one should re-evaluate an asset. Sometimes that assets has outlived its usefuless and there is no appreciable reallocation. Sell the stock, er... coffee table, extra books, too small/large clothes. Use the funds to create greater assets such as LESS DEBT, increased retirement funding, additional transportation that is becoming depleted ( AKA- set extra money aside to pay cash for a new to you car), or take yardsale funds to purchase really nice thrift store or clearanced clothing items.
Another thing I have noticed is that I am becoming less sensitised to what people think. I don't drive my sports car as much anymore. I drive the 4 door wagon because I want to keep the other car nice longer. I don't care as much for the newest clothes. (sorry, Single Ma)
As a matter of fact, I had to remind myself that I need to clear out closets as much as possible in the near future. I have WAY too many clothes and many of them are outdated.
I will go through and size them, sort for how suitable they are for my needs, Select which ones I can liquidate and then pack the ones I cannot currently wear, but will be wearing in the future.
This will allow me to accomplish a few things. I will free up one resource- space. Allowing me to re-allocate that space to a better use. That use may simply be the state of being less cluttered :).
I will also be able to see exactly what clothing resources I have, note what I NEED and assist me in avoiding unnecessary purchases while being my usual cute self. Hopefully, I can pass on a good bargain to someone in the meantime.
Day 78
I have eaten all my meals at home today. I have found the source of a much needed detergent making ingredient ( also the basis of Oxyclean- who knew?) at a great price. I was unable to find it locally at any price until today. So I will be making my own detergent soon. not real soon because I still have a huge stockpile of detergent.
I even worked on my spending plan for 2007. I discovered it is a good thing I started early. 2007 will be a challenging year. Noticing those specific challenges inspires me to do better this year.
My spending plan for 2007 covers my monthly bills and and no real splurges. The spending plan may look bleak right now, but it is do-able and has room for improvement. Improvements include rounding up enough cash through extra efforts to pay off CC, stop smoking and selling my house.
I am gearing up to quit smoking as I type. Besides being nasty, what better inspiration than to see what else I could do with the $1500 each year. That $1500 could come right back out of my spending plan and go right toward paying off a credit card or even a nice vacation.
Day 76-- SD UPDATE and EF Update
I deposited $400 in my SD account yesterday. Today I was looking at my checking account and realized I have enough to add $1700 to my SD account. I did it too.
I feel like I have graduated to a new level.
It felt so good to take the magic marker and fill in the last of that thermometer chart I used to watch the progress.
My spending will be a little tight until the end of the week but not in a severe way. I just need to keep a eye on how much goes out until I make my next deposit coming up next Friday. It is worth it, because..... SD is fully funded. I just need those stinking statements to send in my payments. UGHHHHHHH!
I also made an $80 deposit to my emergency fund.It is officially at $400. All from The August challenge that ended up taking until the end of September to accomplish.
A reminder to my readers regarding my Quarter challenges:
I keep a Hershy's chocolate syrup jar on a shelf. Everytime, I save at least a dollar, I put a quarter in the jar. When the jar is full, I deposit the amount into my Long Term Emergency Account.
I do have the Baby EF that our good friend Dave advocates. That is easily available and stays fully funded. While I have the Baby EF ( which is bigger than the Long Term EF currently), I want to see at least a little progress in my LTEF. So I add the jar money. The jar helps motivate me toward taking even a tiny baby step toward better habits. All those quarters add up!
My current Q-challenge is to save $100 for the LTEF by the end of the year. As of this writing, I have 52 of the needed 400 quaters.
Priority Number One- Work
Work is currently my number one asset, as such I need to protect and cultivate it. I need to do a few things here.
- PAPERWORK
- Scheduling- I will have 60 clients that MUST be seen each month. I tend to scramble ad I have missed a few the last few months.
- Image- This is made up of appearances, performance and behavior.
- Networking- both at work and outside of work.
- Relationship building
Paperwork- This is something I have struggled with for years. I have decided to make this my number one focus. Today when I go into work, I will will complete ALL of my time sheet for yesterday and the notes. All of this will go into a handy little plastic sleeve/envelope I have already labeled completed timesheets and notes. I am going to embrace my biggest challenge and conquer it. I will be the Queen of Paperwork.
Scheduling- I am not too bad here but I'm building more discipline into this area.
Image-
A) :::sigh::: I loathe to admit this but... My appearance is not so hot. I really need to focus on this more. I need a better hairstyle, which is definitely a challenge as I grow my hair out for Locks of Love. I'll rise to the challenge. Makeup needs more emphasis. I tend to skip it when the humidity is high, in the summer as it makes my face itch to the point I scratch with a vengeance. Clothing is ok. Not as much work needed here. I just need to stay on top of laundry, so I am not going for the b-list items as much.
Weight - Besides health reasons, I really need to lose weight. I am officially a plus size woman. While I am still wonderful, there are people who view this negatively. Socially accepted "pretty people" are seen in a better light. They are perceived as more successful and competent. I am all about taking advantage of an edge when it is not morally wrong and there is nothing morally wrong with being a healthier weight.
B) Performance- As I build more discipline into my paperwork, this will improve. I already receive a fair bit of praise for the results I get on many cases. The big problem is my paperwork being late and then not up to the standard I would personally set for myself. It is hard to meet that standard when I am scrambling- Scrambling has got to go!
I personally believe that the company owners would see me in a MUCH better light if they never had to deal with my paperwork issues. Image is definitely a multi dimensional issue.
C) Networking- This is another area I need to vamp up. It is not one of my strong points. I certainly need to develope a plan and work toward increasing my professional network.
D) Relationship building- this definitely an area I need to address. I am just not very good at politics.
Am I over valued?
While crunching the numbers I discovered something interesting. My Networth is hyper-inflated.
BEAR WITH ME....
I was adding and subtracting debts and assets. I was trying to inspire myself by looking at where I could be sitting in 9 months and 16 days.
I took my net worth of $22, 414 subtracted the value of the house when it sells ( I doubt I will actually clear anything on the actual sale. The house is already priced lower than what I paid for it in 1998. There will be closing cost, lawyers fees, additional repairs, sprucing up, advertising, gas out to the house for showings, etc),
added the value of my mortgage because it will cease to be a liability.
subtracted the value of the stupid debt account, ( it will be spent to erase the debt)
added the amount of my stupid debt because currently it is a minus { liability} ( in effect SD account and SD cancelling each other)
added the value of my cc debt ( it is will cease to be a liabilty),
took into account the expected value of my cars at the goal date- no car payments in the last two years :). ( I currently subtract $25 each month from the value of both cars- I have mixed feelings on this, because if I were desperate, I would sell only one of them at most),
I then realized my retirement account is still in limbo because there is a strange developement there ( old job converted the money I could have rolled over to situation where I think I have to wait until I retire to see anything and it may now possibly be out of my control) which may simply mean that this money is pretty much history to me by the time they finish with it.::::sigh::::: This asset is actually pretty much a wash.
I estimated how much I should have in my cash account and in my EFs and discovered in effect that I will really and truly only be worth about $5k. That stinks. That royally stinks.
The whole idea was to make me feel better. I started to get very down. Of course, looking down is not the best way to move up. I automaticly started looking for the positive. I was grateful that I was not going to be in the hole. I will have a small but simple foundation on which to begin my building wealth. I will also be able to move the income that was paying off my liabilities into lager long term EF, savings and investments.
It further opened my eyes to the effect CCs can have on your future.It was so easy to put snacks, gifts , eating out when I could have eaten cheaper and other everyday expenses on the card and use the cash for other things. You can bet that that sucker will be sitting in my freezer. You can also bet I am further resolved to work harder toward having a real net worth.
It opened my eyes to the pitfalls of procrastinating. I totally admit it- I have just let the house sit in the three years since I moved out. I have made very little effort to empty and aggressively sell the house. Every month I do not focus on selling my house, I lose at least $100 to interest on the loan.
I have no excuse. My initial reason to procrastinate was that deep down I wanted to move back in the home. I was comforted by the fact that I was a homeowner. I was paying rent elsewhere but I was still a homeowner.
What I really was, was a shmuck. My next goal needs to be spending every possible minute outside of work and essential endeavors to prepping and selling this house. Next to my job, this is my new major focus.
All I can say is my gut is in knots right now. I have been deluding myself. I am suppossed to be "so smart" and here I have been swimming with rocks in my pockets. I am tentively setting my 2007 goal at having a real net worth of $10K. From what I can tell my arrow will actually take a dip as I liquidate some assets and retire old liabilities.
I am trying to stay positive by reminding myself that this revelation is a good thing. I know some of the problems. That allows me to search for and put into effect some answers. When I hit Zero Debt, I should start picking up some momentum toward actual wealth.
I am already focusing on generating more income while minimizing expenses. I need to step up the retaining of my income while watching my expenses even more. I am getting better at entering ALL of my expenses daily. This building wealth stuff can be hard.
9 Months 18 Days
9 months and 18 days until my goal date for being debt free. As of today, that is what my countdown Blingy reads.
In those 9 months and 18 days I need to accomplish a few things. Here they are:
- Pay off Stupid Debt- As of this week, all I will need is the statements to send in with the checks! I am proud of myself right here. If I do not hear from Ms. SD Handler by Halloween ( receive statements in the mail). I am going to start an aggressive campaign to light a fire under her tail. Since I was guilty of procrastinating, I am setting a deadline of Oct. 31st. I don't want to be too much of a hypocrite.But I am not gonna be a big schmuck on this project either.
- Sell house/ pay off mortgage.My new Number Two Priority- gotta get aggressive. This means all weekends are now tied up. I will either be making money or working on this house, yard and house sale campaign. I need to develope a POA for this project.
- Pay off CC- One of my next projects. This will be right along with selling the house. All additional money after bills and expenses involved in selling my house will be directed toward CC reduction.
Day 71- Net Worth Update
My Networth is Updated.
While updating my Net Worth I somehow messed up a couple of previous months. In light of the fact that this is not the first time I have done this, I decided to back up the data and place a printed copy in a notebook. This should come in handy because it is so easy to mess up at that web site. It is also nice to be able to see my progress. I like the fact that the chart is going up a little at a time.
My increase in net worth is 8.95% since last month. After all my corrections, I know I am at least within a few tenths of the correct percentage points. It is definitely at least 8.5%
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I went shopping today. I spent $160- $100 of that was an investment of sorts. I ran across clearanced scrapbooking kits. They normally sell for $10. I got them for $3. ( I tried at 3 different times to get them marked down to $1.50 for taking all 29.) The front states they are valued at $30. They are certainly worth more than $10. A conservative estimate would be $15. I'll be selling them for $12. That leaves me wiggle room to haggle or markdown a few when the inventory gets lower.
I am going to try and turn the $100 investment into $300. I took the $100 out of my SD deposit. I was a little nervous about the venture but decided that fear was holding me back. I am trying to extend my investing comfort. Yeah, I know this is not the stock market but it is an investment. I consoled myself that I am sure I can at least recoup my investment .
The rest of my purchases were money saving groceries ( soda @ .50 a 2 lt vs $1.25 at the convenience store), the Desperate Housewives game for my sister ( $10 on clearance vs $20 - she will reimburse me), a gift and office supplies. Oh yeah and a sort of business expense. I saw these darling round tins with clear lid- they are party favors and come in packs of 15. I fell in love with them. They were on clearance for $5. I bought all three packages they had left. I see several possibilities for them. When I use them, I'll let you know the outcome. I have some interesting ideas but I don't want to reveal my ideas just yet.
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I ate from home all day yesterday and I put a few items back while I was at WM. I was able to add a little to my current EF jar challenge. As of writing this post, I have 21/400 quarters needed to complete this challenge.
I have got to get on the ball with this challenge. It requires 134 quarters each month. Next year's Quarter Challenge will be daunting also. I am challenging myself to put away $500 in my long term EF throughout 2007. That averages out to 167 quarters a month or 6 quarters a day (all numbers rounded up.)
Over the course of a year, there are more opportunities to save. I add quarters for using; homemade laundry soap ( only for certain items), taking my lunch from home, free meals, mending an item that would cost at least a dollar to replace, making my own gifts as long as I save at least a dollar, having a good day selling,recieving an item of clothing that I would otherwise had to purchase, selling an item for over a dollar that I paid nothing for, finding an honest way to boost my mileage check, making do with a current item or forgoing making any purchase over a dollar. It is fun to purposefully watch it all add up.
Off to do paperwork now, I am behind and I am going to get caught up before I go to bed. I am making myself a promise. I am focusing on paperwork today to the point I WILL BE UP TO DATE BEFORE I GO TO BED TONIGHT.
Day 67- A Little More
My readers will have noticed I have not posted as much in the last few weeks. Work has been busy. And work is a priority. It pays the bills and allows me to sleep pretty decent at night.
Work is also a way I can advance myself financially. Raises add up, I currently pay ony $30 a month for health care and I get a good mileage check. One of the best job perks is that I am not tied down in an office. I am not one to sit still so the fact that a large part of my job is get up and go is good for me.
Doing well in a job is important in other ways. You make connections that can help ( or hurt) you later. If you do a poor job, people notice.And they will not hesitate to let others know. If you do well, then the very least is you might not get badmouthed.
I am going to be making several adjustments to my daily schedule and practices. You will read about a few in the future.
Day 67
The Yardsale went well. I brought home $100. I also received my insurance bill for the next six months. WOOHOO. It actually dropped $100. Which is hard for me to believe considering someone smashed my car AND I had a theft out of another car.
At some point this week I need to make a deposit to my SD account and do a update at No Credit Needed.
