Freedomgal gets really free!

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freedomgal
Posts: 10
Joined: Tue Oct 11, 2011 9:04 am
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Freedomgal gets really free!

Postby freedomgal » Tue Oct 11, 2011 9:35 am

Let me start this by saying we are not a two income household. We are a 1.25 income household. I keep looking for a way to do it full time but it hasnt happened yet due to my health issues. I physically can't do what I do more than a few hours a week. The commute from here is horrendous. I have found a few jobs that I am qualified for that I could sit. However sitting long is also and issue. So until something better comes up consider my part time job just that and my profession chief budget-er and money saver to get debt free !

We owe one credit card debt and debt on an auto totaling $15,085. Most is the auto.

With my current snowball both should be paid off by 9/01/2013. Ha, much better than the original auto payoff date of 7/11/2015 right?

I am a bit leery of having only $1,000 in the emergency fund as Dave Ramsey advises since dh is the main bread winner. However how much can go wrong before 9/2013? Hopefully nothing! Dh does have disability ins.

I also calculated our mortgage in the snowball ( though Dave doesn't advise this) since we plan to sell right around the time it could be paid in the snowball. That payoff date could be 5/2017. We owe around $46,000 on a home valued at about $140,000 Plus the farmland we own and rent out. So, not to shabby there :) Homes are very reasonable here.
.

Most likely we will stop the snowball and save the 3-6 months expenses like we are supposed to :D

Our income is not huge after taking out investments, fsa, and insurances . I am going to just lay everything out in black and white for all to see. I use a budgeting system where we save for several categories.

We are also a family of 4 btw.

DH gets a $4 an hour raise in Jan per his contact. So there will be 160 a week or so extra then. I do not count on dh's overtime for budgeting.
Last edited by freedomgal on Tue Oct 18, 2011 7:08 am, edited 4 times in total.

freedomgal
Posts: 10
Joined: Tue Oct 11, 2011 9:04 am
Contact:

Re: Freedomgal gets really free!

Postby freedomgal » Tue Oct 11, 2011 9:46 am

Plan for 10/14 paychecks

Dh~ approx 640 ( a bit less for dues)
146 towards mortgage ( I set 1/4 aside weekly)
75 car pay (I set 1/4 aside weekly)
100 CC
80 gas (may drop this Mon instead)
50 medical
25 school lunch
40 internet
30 pets
10 hunting
29 clothes
50 car repair fund

My check ( will be low)
100 for 2 weeks food for pets and people ( I am very well stocked)
50 for gift account
____________________
if extra it goes 50 for next years fuel

____________________

All extra and ebay go for gifts. Christmas is coming and I still need $720



Plan for 10/21 check

Dh 680
___________
gas 80
146 mortgage
75 car pay
100 cc
66 cell phone
55 satellite (trying hard to talk hubby into stopping)
190 insurance savings ( monthly average includes auto and life)

THIS ADDS UP TO $32 SHORT


*PLAN FOR 10/28 CHECKS

DH 680
________
80 gas
146 mortgage
75 car pay
100 cc
155 electric
19 tags
50 home repair
25 garbage
30 insurance ( if dh's check isnt big enough to cover the 190 the week before)

My check
___________
150 for 2 weeks groceries
50 to gift account
50 towards fuel account


OK SO THIS FINISHES OUT OCTOBER!!!!

The $400 on the CC is set up on auto drafts.

freedomgal
Posts: 10
Joined: Tue Oct 11, 2011 9:04 am
Contact:

Reminder no shopping with the guys!

Postby freedomgal » Wed Oct 12, 2011 4:57 am

Since we live far from everything we try to consolidate trips. My second child was ready to go to the DMV and get his temps. My oldest child had ridden into the area ( 32 miles) everyone works in with his dad that morning. He had to waste 1:45 min sitting before he started but he is happy to save the gas $. I knew dh should finish about an hour before the kid so I could pick him up on the way back from the DMV.

First the DMV raised their price for the temps $10.

Before we picked up Dh I took kiddo in the $1 store with me to get mailing pouches for my Ebay sales. He wanted a snack. No problem it was only $1.06.

After we got Dh we stopped at the bread store on the way out of town. I needed 3 loaves and a package of rolls. As I am paying the guys threw all kinds of junk food on the counter. NOOOOOOOOO!!!!

1. It is wasted cash on junk food.

2. I need to lose a ton of weight and can't stay out of it! ( More on this later!)

Lesson learned don't bring kiddo and shop BEFORE you pick up dh. They never ask for it or seem to miss it but once they see it they can't get enough. Besides I am an excellent baker and can make a tasty and healthier product.

peachy
Posts: 1148
Joined: Mon Feb 04, 2008 7:35 am
Location: Maryland
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Re: Freedomgal gets really free!

Postby peachy » Wed Oct 12, 2011 5:49 pm

Hi and welcome.
I'm always impressed when people can split up their paychecks the way you did. I guess when people have kids and a lot of specific expenses, it's the best way to do it, and I guess this is why YNAB works for you. I have to admit, I've never gone to that site, but I'm sure it does what you do.

I live alone (no pets), and know how much money I have to spend, and I just buy what I want, so kudos to you for breaking it down. I also follow that motto-if you don't see it, you won't want it. HA!!HA!!

freedomgal
Posts: 10
Joined: Tue Oct 11, 2011 9:04 am
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Re: Freedomgal gets really free!

Postby freedomgal » Mon Oct 17, 2011 10:53 am

Thanks for popping in Peachy. On of my kids has a cat named Peachy. LOL I'm still deciding if I am going to pay for the YNAB or not.

Breaking down the budget into 6 checks is kind of odd but we used to be about $50,000 more in non mortgage debt and for some reason doing it that way made me look at the picture better.

I like your motto by the way!!!

peachy
Posts: 1148
Joined: Mon Feb 04, 2008 7:35 am
Location: Maryland
Contact:

Re: Freedomgal gets really free!

Postby peachy » Mon Oct 17, 2011 6:14 pm

That's funny about your kid's cat.
I didn't realize you have to pay for YNAB. What would make you pay when you are doing a good job of separating everything out? What are the pros? Just curious since I don't really know what it does.

freedomgal
Posts: 10
Joined: Tue Oct 11, 2011 9:04 am
Contact:

Re: Freedomgal gets really free!

Postby freedomgal » Tue Oct 18, 2011 4:56 am

YNAB has you build a buffer in the budget so eventually you are always at least 1 month a head. As in say on Dec 1 I am using $ previously earned to budget with instead of money as it comes in. Each month I budget say $100 for car repairs and have to physically move it to another account. The YNAB keeps the current check register while allowing these type of budget items to keep building up without all the moving. So the $100 in car repairs I should have moved to another savings will still be in my checking but wont show up in my total $ left to budget/ spend. I'm not sure I explained that very well. I guess the bigger picture is to show me where I am over spending. I do plenty of that! I pointed out yesterday I over spent $100 on a category I had not budgeted for.


Awww shoot! Unexpected expense ahead. The septic is doing odd tricks that are not smelling pretty. I called the guy and he said it sounds like my filter may be failing. He will come later in the week to clean, pump and inspect. I bought one of those filters 10 years ago and it was $350. Wonder what it is now? Pumping and inspection is about $150. We shouldnt be due until July but better safe than sorry!


I was looking over financial stuff for this year. It like our income will be down this year and around 51k- 52k. Woo hoo bring on the $4.00 + raise in Jan!!! I sometimes wish I was still earning a full time income. I keep thinking their is a way around my limitations besides going in the hole so far for new schooling and a new career. There are a few other options that work with my limitations but it is not worth the commute for minimum wage or a little more with gas prices.


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