Morydd's finance blog entries.

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morydd
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Morydd's finance blog entries.

Postby morydd » Mon Apr 30, 2007 5:26 pm

I'll join in on this. I'll actually probably not list details here, as I'm already doing that on my personal blog. But I'll definately link to new finance-specifc posts here.

I just put up a post about savings goals.
http://www.morydd.net/financial-goals

I'd be happy to answer (most) questions, and I've got a lot of bad habits and parental training to break, so I'm more than willing to listen to advice.

Here are my previous finance posts as well if you'd like to get up to speed.
http://www.morydd.net/finance-part-1
http://www.morydd.net/february-finances
http://www.morydd.net/march-finances
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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morydd
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Postby morydd » Tue May 01, 2007 3:36 pm

I've posted my April recap.
http://www.morydd.net/april-finances

Not a good month overall.
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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Postby jdroth » Tue May 01, 2007 5:40 pm

Not a good month overall.


I can relate. The key is not to let it get you down.

Overall, I'm making great progress with my personal finances. I'm moving in the right direction. But every so often, I have a lapse of some sort. I've been having trouble with "dining out" recently, too, and it affects not just finances, but fitness! Keep at it!

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morydd
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Postby morydd » Thu May 03, 2007 11:06 am

Although April wasn't so hot, we've got about $700 in transfers to savings already scheduled for the first week of May! Both my wife and I have occasional second jobs, that are really more hobbies that we get paid for. She assists at a culinary program. It used to be volunteer, now they pay min. wage! I freelance a little. Hopefully when the Credit Card debt is paid, I'll be able to move to doing that full time.

Something I've learned about myself is that, I either have to have complete knowledge of my financial situation or I ignore it entirely. I've learned the hard way (after several fairly brutal lessons) that the second choice is unacceptable. So I have to keep nearly obsessive track of my finances. I find myself checking at least one account every day, sometimes several times a day. If I don't and find that I've lost track of things, I get physically ill. While I realize this is probably not entirely healthy. I think it's a result of fearing that I'll find myself in the situations I've put myself in before. So I'll share my obsessiveness with the world and call it accountability. :)
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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Postby tinyhands » Thu May 03, 2007 11:21 am

morydd wrote:So I have to keep nearly obsessive track of my finances. I find myself checking at least one account every day, sometimes several times a day. If I don't and find that I've lost track of things, I get physically ill. While I realize this is probably not entirely healthy. I think it's a result of fearing that I'll find myself in the situations I've put myself in before.

I suspect you'll eventually relax this, not out of some personality flaw or laziness, but true comfort with your financial situation. Just as nervous new drivers meticulously keep their hands at 10 & 2, signal for upcoming turns, and come to a complete stop at all intersections, they eventually get comfortable enough to set the cruise control and let one hand hang out the window in the breeze. As long as you don't fall asleep at the wheel, try to race a train to the crossing, or flip the bird to the cops, I'm sure you'll be just fine.
Read my 'fiscal fitness' financial disclosures <a href="http://www.getrichslowly.org/forum/viewtopic.php?t=176">here</a>.

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morydd
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Postby morydd » Thu May 03, 2007 12:06 pm

tinyhands wrote:I suspect you'll eventually relax this, not out of some personality flaw or laziness, but true comfort with your financial situation. Just as nervous new drivers meticulously keep their hands at 10 & 2, signal for upcoming turns, and come to a complete stop at all intersections, they eventually get comfortable enough to set the cruise control and let one hand hang out the window in the breeze. As long as you don't fall asleep at the wheel, try to race a train to the crossing, or flip the bird to the cops, I'm sure you'll be just fine.


I'd actually be surprised. For the same reasons that I now avoid driving. Both money and driving are too important for me to not be comfortable if I'm not in complete control. And there are way too many stupid people driving, so I go the avoidance route on that one.
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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Postby morydd » Fri May 04, 2007 8:05 am

So, my wife and I have decided to go to the envelope system for our personal spending (coffee, books, crochet projects) for this month. We got $200 in cash ($100 for each of us) and that's our spending money for May. If this works well, I think we are going to open ING Electric Orange accounts for each of us to use this way. That way we don't keep a bunch of cash laying around, and it gives us a little more flexibility.
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Postby morydd » Thu May 10, 2007 8:40 am

What a difference a few weeks make! Our emergency fund has gone up over $1000 since the first of the month. Both my wife and I do some "paying hobby" type work, and we decided that until the emergency and vacation funds are full, we're going to transfer anything that's not income from our "9-5" directly to savings. So, between that extra work, and a reimbursement for some dental surgery I had last year, we've gone from a little dissapointed to Fantastic!

We have two trips to pay for before the end of the year, so we've got to fund those, but we also will finish paying off credit cards in the next 3 months! I'm starting to think that fully funding emergency fund, vacation fund and a sizeable downpayment for a home will be do-able in the next 12-18 months!
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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Postby Kate » Sat May 12, 2007 4:50 pm

Great job, morrydd. Just keep plugging away and I'm sure you'll achieve your goals.

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Postby lostmind » Sat May 12, 2007 6:37 pm

Now that's a turnaround! Grats.

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morydd
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Postby morydd » Thu May 17, 2007 11:04 am

I got a raise with this last paycheck, and we got a notice from one of the student loans that due to 36 on-time payments, we got a 1% rate reduction! Things keep getting better.
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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morydd
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Postby morydd » Fri Jun 01, 2007 6:50 am

My May recap is up: http://www.morydd.net/may-finances

The highlights are that it seems that things are starting to develop into habits. Gas prices are up quite a bit, but we spent less on dining out. All in all a good month with a lot to look forward to!
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Father of Aiden Thomas Dec 10, 2004-Dec 15, 2004 and Dean Paul June 12, 2008

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Postby jdroth » Fri Jun 01, 2007 7:44 am

Good work, morydd. I love reading success stories. :)

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Postby morydd » Wed Jun 06, 2007 7:40 am

Just got off the phone with the credit counseling service. Confirming that we have 1 card left, and 2 payments (closer to 1 1/2 actually)! We asked that they push that payment forward a week, so that we can be completely clear before my birthday!
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Postby pf101 » Wed Jun 06, 2007 10:58 am

morydd wrote:Just got off the phone with the credit counseling service. Confirming that we have 1 card left, and 2 payments (closer to 1 1/2 actually)! We asked that they push that payment forward a week, so that we can be completely clear before my birthday!


Happy b-day to you! Congrats!

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