I recently posted on my rules to help me save for my trip to Europe. As usual, temptation abounds...
Temptation: Had to go to mall to buy gift for White Elephant party last weekend. Walked by VS semi-annual sale AND Limited sale on dresses (40% off). Looked at both, but did not buy anything.
Temptation: Hungry after work, knew I wouldn't eat for another hour or two at book club. Had a granola bar from my purse instead of stopping to get something to eat.
Temptation: Saw delicious tacos and giant burritos friends were getting at book club for $11. Ordered kids meal and spent $6. And the guy must have thought I was cute, because he gave me a full-size drink with the kids meal. ;)
Temptation: Wanted something sweet after boyfriend made at-home happy hour the other night (he's the best). Almost went to Yogurtland, but had Skinny Cow ice cream sandwiches in the freezer, so we had those instead.
Temptation: Wanted to plug in heating pad while I napped since I had cramps. Instead, found toe warmers my grandma gave me for Christmas and stuck two on them on my t-shirt in appropriate spot. Saved electricity and no risk of burning this house down while I sleep. (Using electricity isn't banned, but I'd love to get that bill lower, since all snowflakes go to my trip!)
So far, so good. Reminding myself that I actually get to go to Europe for Spring Break is a pretty good motivation to resist temptation. I'm hoping to have close to $200 extra out of this months budget to put toward my travel fund at the end of the month. Fingers crossed!
Friday, January 13, 2012
Thursday, January 12, 2012
Down Ten Pounds by April!
I joined the 10-pound Challenge hosted by Newlyweds on a Budget. Lose 10 pounds in 12 weeks, win $$$. Are you in?
There are some great prizes at stake, but also ten pounds would put me exactly where I want to be weight-wise. I could technically lose more after that, but I know where my body likes to stay, and what it looks like at that weight. The contest ends in April, so I'd have to be good in Europe to stay on track (eek!). But, Ithink know I can do it!
Who else is in? How are you planning on taking off the ten pounds?
There are some great prizes at stake, but also ten pounds would put me exactly where I want to be weight-wise. I could technically lose more after that, but I know where my body likes to stay, and what it looks like at that weight. The contest ends in April, so I'd have to be good in Europe to stay on track (eek!). But, I
Who else is in? How are you planning on taking off the ten pounds?
Wednesday, January 11, 2012
Going to the Next Level
On Friday I met with my financial adviser to finish switching over my 403(b) to him, open my Roth IRA, and start being more aggressive with my savings. It ended up being a two and a half hour meeting, and I learned a lot.
The Roth is pretty simple. I'm doing a monthly contribution in order to max it out for 2012. I'm having it deducted from my checking every month, so it will happen automatically and I don't have to think about it too much. However, since I asked a lot of questions and seemed genuinely interested in how it worked, Steve (financial adviser) helped me plan out four different types of investments for my Roth. Each investment has lots and lots of stocks in it, but I did three international investments and one domestic. There is a range of risk, but overall it's pretty aggressive. I feel good about not only starting a Roth, but learning more and having a say in where my money is going.
We also set up investments in California Municipal Bonds to try to earn more interest on the money that's sitting in my Emergency Fund. I kept about one fourth of my E-fund money in my credit union account, so that it's easily accessible. The rest (and $500 from here on out) will be invested in bonds. On average these are earning about 6% and the growth is tax free. :) The money is completely liquid; I can access it at any time. But, the longer it stays in the account the more I can earn in interest, so I want to leave it alone as much as possible. I am also thinking that this will be my house down payment fund, since the interest is so good. I can always deposit more or less, but I like that it's set up with an automatic amount. Any extra savings can go in my CU emergency fund, which will also help me grow that savings as well. There is a small amount of risk in the investments, but bonds are very stable and Steve was able to show me data on how the accounts I'm in have performed, so I feel good about it.
I'm excited about these choices for a few reasons. One, it will be awesome to get more interest on my savings rather than just letting it sit in my CU account. Two, I feel like I'm transitioning to a place where rather than just keeping money for an emergency, I (might) actually make some money by investing wisely. I understand what I'm doing, and while I'm not blind to risk, I feel like I'm growing in my financial skill and understanding. If I can keep going with my Roth and 403(b) I should be in a great place to retire (I also have a pension). And, if my savings can earn the interest promised, I could be on the road to home ownership in the next couple of years.
I guess what I'm trying to articulate is that I'm not the person who had a bunch of debt and no real plan on how to handle it. And I'm not even the person who just paid off debt and managed to save a little each month. I'm a person who is getting good at finances. Of course I have more to learn (a lot more), but I left the meeting on Friday on a high, knowing that I was taking power over my financial future and present. It felt good.
The Roth is pretty simple. I'm doing a monthly contribution in order to max it out for 2012. I'm having it deducted from my checking every month, so it will happen automatically and I don't have to think about it too much. However, since I asked a lot of questions and seemed genuinely interested in how it worked, Steve (financial adviser) helped me plan out four different types of investments for my Roth. Each investment has lots and lots of stocks in it, but I did three international investments and one domestic. There is a range of risk, but overall it's pretty aggressive. I feel good about not only starting a Roth, but learning more and having a say in where my money is going.
We also set up investments in California Municipal Bonds to try to earn more interest on the money that's sitting in my Emergency Fund. I kept about one fourth of my E-fund money in my credit union account, so that it's easily accessible. The rest (and $500 from here on out) will be invested in bonds. On average these are earning about 6% and the growth is tax free. :) The money is completely liquid; I can access it at any time. But, the longer it stays in the account the more I can earn in interest, so I want to leave it alone as much as possible. I am also thinking that this will be my house down payment fund, since the interest is so good. I can always deposit more or less, but I like that it's set up with an automatic amount. Any extra savings can go in my CU emergency fund, which will also help me grow that savings as well. There is a small amount of risk in the investments, but bonds are very stable and Steve was able to show me data on how the accounts I'm in have performed, so I feel good about it.
I'm excited about these choices for a few reasons. One, it will be awesome to get more interest on my savings rather than just letting it sit in my CU account. Two, I feel like I'm transitioning to a place where rather than just keeping money for an emergency, I (might) actually make some money by investing wisely. I understand what I'm doing, and while I'm not blind to risk, I feel like I'm growing in my financial skill and understanding. If I can keep going with my Roth and 403(b) I should be in a great place to retire (I also have a pension). And, if my savings can earn the interest promised, I could be on the road to home ownership in the next couple of years.
I guess what I'm trying to articulate is that I'm not the person who had a bunch of debt and no real plan on how to handle it. And I'm not even the person who just paid off debt and managed to save a little each month. I'm a person who is getting good at finances. Of course I have more to learn (a lot more), but I left the meeting on Friday on a high, knowing that I was taking power over my financial future and present. It felt good.
Tuesday, January 10, 2012
New Savings Plan
Okay, so I just announced I'm going to Europe for Spring Break. And I just tapped my E-fund to buy my plane tickets. Ideally, I'd like to fund this trip without derailing my other goals. If I were still a single gal, living alone I would go frugal-crazy and find ways to slice my budget all over the place. But, I live with BF. And since it's not his trip, I don't feel right making him suffer for my vacation. Also, he has a lower threshold for frugal living than I do in general, so that's something to keep in mind.
That's not to say we'll be eating out every meal and spending like crazy. We cook a lot, and he's trying to save to pay off his credit cards too. But, I've decided to cut in areas that only affect ME and not US.
So, the following things are banned until the end of the school year (which is after the trip, but my savings will need some recovery time afterward too).
1. BANNED: Clothes shopping. I have enough clothing, and I did some shopping over Christmas for myself, so I am all set. (The only exception would be that if I lose the ten pounds I'd like to, I can buy a new pair of jeans from Old Navy).
2. BANNED: Spending money on food at work. No cafeteria breakfasts or lunches, no $2 mini-Jamba Juices on Wednesdays. No vending machine sodas. I just need to allow five extra minutes in the morning to make breakfast, and be ready with easy lunches.
3. BANNED: Eating out alone. Basically this means no stopping for fast food when I'm out running errands. If I'm socializing, that's fine, but on my own I need to be prepared and eat at home. I'd also like to make an effort to spend less when I eat out with friends (kids meals, eating first and meeting for just a drink or snack, etc.)
BF and I will still hit up a happy hour about once a week. We'll still go out to our favorite bar about once a month. I'll still buy groceries for real dinners and buy beverages other than water (though I'll look for deals at the grocery store, of course).
I think these three choices will make a difference in my budget, and my goal is to be able to filter extra money from my budget toward my trip in each of the next three months (January, February, March). I'm also trying to hustle up some stuff to sell on Amazon and Ebay, though my apartment is pretty cleaned out, so that will be a little tricky.
Stay tuned for the actual budget in another post.
That's not to say we'll be eating out every meal and spending like crazy. We cook a lot, and he's trying to save to pay off his credit cards too. But, I've decided to cut in areas that only affect ME and not US.
So, the following things are banned until the end of the school year (which is after the trip, but my savings will need some recovery time afterward too).
1. BANNED: Clothes shopping. I have enough clothing, and I did some shopping over Christmas for myself, so I am all set. (The only exception would be that if I lose the ten pounds I'd like to, I can buy a new pair of jeans from Old Navy).
2. BANNED: Spending money on food at work. No cafeteria breakfasts or lunches, no $2 mini-Jamba Juices on Wednesdays. No vending machine sodas. I just need to allow five extra minutes in the morning to make breakfast, and be ready with easy lunches.
3. BANNED: Eating out alone. Basically this means no stopping for fast food when I'm out running errands. If I'm socializing, that's fine, but on my own I need to be prepared and eat at home. I'd also like to make an effort to spend less when I eat out with friends (kids meals, eating first and meeting for just a drink or snack, etc.)
BF and I will still hit up a happy hour about once a week. We'll still go out to our favorite bar about once a month. I'll still buy groceries for real dinners and buy beverages other than water (though I'll look for deals at the grocery store, of course).
I think these three choices will make a difference in my budget, and my goal is to be able to filter extra money from my budget toward my trip in each of the next three months (January, February, March). I'm also trying to hustle up some stuff to sell on Amazon and Ebay, though my apartment is pretty cleaned out, so that will be a little tricky.
Stay tuned for the actual budget in another post.
Saturday, January 7, 2012
Europe Budget
Okay, so here are the dirty details. I've purchased a round-trip ticket from LA to Brussles. (We'll take the train from Brussels to Amsterdam right away and then come back to Belgium for a few days at the end of our trip before we fly home) The damage for the tickets was $889. Frankly, I was thrilled to find a round trip ticket to Europe for under $1,000. I used my emergency fund to buy those tickets, since I didn't plan on such a big trip ahead of time.
I'm budgeting another $1500 for the rest of the trip. This will include my train ticket from Brussels and Amsterdam and back, transportation once we're there, food, and hotels. We both want to keep the trip cheap, so I think we'll be on the same page. We'll share a hotel room, and we're talking about doing a hostel in Belgium in order to save a little more money. I don't do souvenirs (other than postcards, a little something for BF, and Christmas ornaments for me), so I don't need to budget too much for that.
Here's how I'll make it happen, without derailing other goals:
*My National Boards back pay should come in February's check, which I believe will be about $600 (three months worth, since I've been certified since December and have yet to be paid).
*I'll also have around $200 on National Boards money in March's paycheck, so I'll add that to my travel fund.
*I'm going to use the money in my ING Direct account as my travel fund. It's been my house fund, but I'm okay raiding it for my trip. Once my $100 sharebuilder bonus posts, that will be just over $200.
*I think I can also save at least $100 a month out of my regular budget, which gives me $300 more.
*For those of you keeping score, that's $1300. For the last $200 I'm hoping that my tax refund will allow me enough to put $2000 towards my student loans and still have the other $200 I need for my trip. If it's comparable to previous years, I should have that and a little extra for my E-fund, to start to make up for raiding it to buy plane tickets.
When I get back, if I put the National Boards money towards my E-fund, and keep finding an extra $100 to save each month, I should have it to six month levels by August, which is only two months off of my original goal. I'm okay with this minor setback in my goals. Once my student loan is paid off in October I will focus on my house down payment fund goal for the last few months of the year.
I'm budgeting another $1500 for the rest of the trip. This will include my train ticket from Brussels and Amsterdam and back, transportation once we're there, food, and hotels. We both want to keep the trip cheap, so I think we'll be on the same page. We'll share a hotel room, and we're talking about doing a hostel in Belgium in order to save a little more money. I don't do souvenirs (other than postcards, a little something for BF, and Christmas ornaments for me), so I don't need to budget too much for that.
Here's how I'll make it happen, without derailing other goals:
*My National Boards back pay should come in February's check, which I believe will be about $600 (three months worth, since I've been certified since December and have yet to be paid).
*I'll also have around $200 on National Boards money in March's paycheck, so I'll add that to my travel fund.
*I'm going to use the money in my ING Direct account as my travel fund. It's been my house fund, but I'm okay raiding it for my trip. Once my $100 sharebuilder bonus posts, that will be just over $200.
*I think I can also save at least $100 a month out of my regular budget, which gives me $300 more.
*For those of you keeping score, that's $1300. For the last $200 I'm hoping that my tax refund will allow me enough to put $2000 towards my student loans and still have the other $200 I need for my trip. If it's comparable to previous years, I should have that and a little extra for my E-fund, to start to make up for raiding it to buy plane tickets.
When I get back, if I put the National Boards money towards my E-fund, and keep finding an extra $100 to save each month, I should have it to six month levels by August, which is only two months off of my original goal. I'm okay with this minor setback in my goals. Once my student loan is paid off in October I will focus on my house down payment fund goal for the last few months of the year.
Friday, January 6, 2012
So...I'm Going to Europe.
So, in my 2012 goals I mentioned that I wanted to take a trip with my friend Shelley. There are a few reasons for this. First, she's great. Second, she and I travel really well together. We're both Type A, list makers, itinerary writers...not relaxed travelers, but we did England and Scotland together and it was amazing. Third, she lives in Portland now, so when I want to see her I have to fly anyway...may as well pick a destination and meet there.
On Wednesday we had a phone chat and tossed around ideas. We started with Europe, but then talked about a trip to the South or Canada, trying to go cheaper. We ended up back in Europe, talking about Berlin and Prague. Then we talked again and tossed around Austria or Holland. Then I called my grandma, who's been to all of these countries and got her advice. After several days of deliberation, I can now officially announce that I am going to Belgium and Holland for my Spring Break! I'm giddy about going to Europe again, and going with Shelley!
We both have money in our savings, so no debt is required. We both have boyfriends who don't like long flights, so it makes sense to do this together. We are also both on the marriage track, which leads to the kids track, which means vacations to Europe with a girl friend probably won't happen again anytime soon. While the smarter financial choice is to go somewhere domestic, the best life-experience choice would be to go to Europe now while we are single and can afford it.
This will change some of my financial goals...or at least push them back a bit. My ING account will switch from being my house down payment fund to being my Europe fund (and it may become my travel fund permanently). Any extra money from my budget will go there. I am estimating that I will need about $2,500 for the trip ($900 spent tonight on airfare...out of my E-fund). I'd love to do it for $2,000, but I want to save $2,500 to be on the safe side. I'll do another post with ways I hope to save for the trip without derailing other goals.
But guys: I'M GOING TO EUROPE! I can't tell you how excited I am to travel abroad again. And I'm STOKED that I get to visit two new countries that I've never seen before. I just requested books about The Netherlands and Belgium from the library...hope there's no limit to how many times I can check that out.
EUROPE!!
On Wednesday we had a phone chat and tossed around ideas. We started with Europe, but then talked about a trip to the South or Canada, trying to go cheaper. We ended up back in Europe, talking about Berlin and Prague. Then we talked again and tossed around Austria or Holland. Then I called my grandma, who's been to all of these countries and got her advice. After several days of deliberation, I can now officially announce that I am going to Belgium and Holland for my Spring Break! I'm giddy about going to Europe again, and going with Shelley!
We both have money in our savings, so no debt is required. We both have boyfriends who don't like long flights, so it makes sense to do this together. We are also both on the marriage track, which leads to the kids track, which means vacations to Europe with a girl friend probably won't happen again anytime soon. While the smarter financial choice is to go somewhere domestic, the best life-experience choice would be to go to Europe now while we are single and can afford it.
This will change some of my financial goals...or at least push them back a bit. My ING account will switch from being my house down payment fund to being my Europe fund (and it may become my travel fund permanently). Any extra money from my budget will go there. I am estimating that I will need about $2,500 for the trip ($900 spent tonight on airfare...out of my E-fund). I'd love to do it for $2,000, but I want to save $2,500 to be on the safe side. I'll do another post with ways I hope to save for the trip without derailing other goals.
But guys: I'M GOING TO EUROPE! I can't tell you how excited I am to travel abroad again. And I'm STOKED that I get to visit two new countries that I've never seen before. I just requested books about The Netherlands and Belgium from the library...hope there's no limit to how many times I can check that out.
EUROPE!!
Thursday, January 5, 2012
Selling My Stuff Online
In 2011 I made approximately $630 by selling books, DVD's and various items on Ebay. A chunk of that was because I scored ten boxes of free books via Freecycle, and then sorted through all of them and listed bunches on Amazon in February. I probably made at least $200 on that, if not more.
The other night I sold one of the last books from that venture, and right now I only have two other items listed. Honestly, I've gone through most of my books and such and listed most of the ones that are worth money that I am willing to part with. So, logically I probably won't make as much money selling items online this year.
But, I still plan on selling items when I can. In the past, that money has gone to debt repayment. My student loan requires that I make payments of at least two months worth in order for it to go towards principle, so no small payments can go there. My E-fund is on track to be funded by June, and it's in an account that requires direct deposit (not that I can't put it in my regular savings, but I kind of like it all in one place).
So, I've decided that any "snowflakes" I make from selling items online will go toward my ING Direct account. That is not getting funded right now (except with ING direct bonuses that I find ways to get) (If you'd like a referral code to sign up with them, you get a $25 bonus and I get $10...comment with your info if you want me to send you a referral). Since selling things is "found" money, I think I'll move it into that fund. Tomorrow I have a big announcement that will tell you why I'm looking to fund my ING Direct account...get excited people.
What do you do with unexpected money?
The other night I sold one of the last books from that venture, and right now I only have two other items listed. Honestly, I've gone through most of my books and such and listed most of the ones that are worth money that I am willing to part with. So, logically I probably won't make as much money selling items online this year.
But, I still plan on selling items when I can. In the past, that money has gone to debt repayment. My student loan requires that I make payments of at least two months worth in order for it to go towards principle, so no small payments can go there. My E-fund is on track to be funded by June, and it's in an account that requires direct deposit (not that I can't put it in my regular savings, but I kind of like it all in one place).
So, I've decided that any "snowflakes" I make from selling items online will go toward my ING Direct account. That is not getting funded right now (except with ING direct bonuses that I find ways to get) (If you'd like a referral code to sign up with them, you get a $25 bonus and I get $10...comment with your info if you want me to send you a referral). Since selling things is "found" money, I think I'll move it into that fund. Tomorrow I have a big announcement that will tell you why I'm looking to fund my ING Direct account...get excited people.
What do you do with unexpected money?
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