My company's contract has been renewed, but with that came some changes.
I lost my vacation and sick leave which is a bummer, but was paid out.
I finally received my raise from last year and the retro pay.
As a result of the super fat paycheck, I was able to pay 1/3 of my student loan balance. My new goal is to pay it off by the end of this year. We have savings that could pay this off entirely, but I'm not comfortable taking from savings. At least not yet.
DH and I are re-financing our mortgage to a 15-year, 3.5% fixed APR. That would reduce 2 years off the life of the original loan and an estimated $60-ish reduction in the mortgage payment. Our plan is to continue to make the same payments what we were normally paying now on this mortgage. As soon as I pay off my student loan, we would double the payments. We could conceivably pay off the mortgage in 5 years.
Viewing the 'Income' Category
My company's contract has been renewed, but with that came some changes.
Well, now that I have paid off my credit card, I enjoyed one pay week with a paycheck that didn't include a payment. It's amazing how much money I could be saving, spending, enjoying if I didn't have that debt.
This paycheck will be the first snowball rollover to my student loan. If I can stay on track with this fixed amount, I should have it paid off by May 2020.
In other news, I opened another business. I am now a travel agent! So now I have two businesses and my day job.
Well we were very pleasantly surprised that we are getting over $2k back as a tax refund.
Half of it will go to the CC.
Back in December, I blogged about my payoff goals and that I would have paid CC2 off and Have half of CC1 paid down. If I stay on target, I should have the credit card half way paid down. My aim is that if I can get aggressive and creative enough, I can have this card paid off by Spring 2019.
I have frozen CC2 and the current CC I am paying is essentially cancelled by the bank since they now have a new credit card (a variable one).
February has turned out to be a great month on our side gig. We have expanded our services since my husband is now doing it full time.
Anyway our anticipated income by month-end (invoiced) = $4,810.
Payments received to date from invoices = $2,770.
Expenses = 1604.
Profit to date: $1,166.
Projected profit for Feb: $3,206.
We finally got our raises at work. Mine was $3.85 per hour higher and I am so happy! The raises were effective July 31, 2017 so on this paycheck, they retroactively lumped what they owed in the paycheck so I have a huge chunk. I plan to apply half that lump to my EF so I will be halfway to my annual goal. From what is left, I plan to divide into payment towards my CC debt and also to beef up my sinking funds.
We have had a sick household and are finally recovering. Luckily we weren't down for long.
I have not heard back from that lady after I gave her my resume. She told me that it may be a while before her boss was ready to start calling people. Frankly, I'm not holding my breath but it was a good opportunity to make updates.
Actual income from the side biz (not paid yet, just worked completed and invoiced) = $2,285.00. Not bad. DH and I are looking to add more clients.
We are selling furniture and odds n ends that come from these vacant homes. So far, we earned $50 from that and we have a lot more to go through and list. I'm finding that Facebook marketplace is the fastest way to sell (compared with Craigslist and Let Go). For smaller items, we may try eBay. DH and I are amazed at how fast the items we list are selling and we hope this streak continues. We are setting the money aside but we haven't decided how we will use it.
This side income obviously fluctuates each month. If I knew we can count on a base minimum each month I would feel so much better.
Here are my numbers based on what we have been assigned so far:
Jan 1 - Jan 10 earnings: $440
Jan 11 - Jan 31 (projected): $2,910
Total Jan 1 - Jan 31 = $3,350
Most are inspections.
One is a door lock change.
And the big number is a bid to tarp a roof and empty out a house and inspections assigned. There are expenses, such as fuel, tarps, wood, nails, and trash bags but those are minor.
Side biz earned $50 for a property inspection and $40 to re-key a door.
Size biz expense $124 for annual background checks.
Total earned today = $90
Total income YTD = $160
Minus expense = $36 profit
2018 Estimated Expenses is $5,000. Once we pass $5k, we will be earning profit.
Earned $70 from side gig (two property inspections)
Received $60 from my parents (I ordered some meds for them and they paid me back)
Side gig funds go to the business checking account.
The $60 will go to the EF for now.
No spend day yesterday.
I'm still contemplating how to make the credit card balance transfer work (see comments from the previous entry).
In other news... it's freezing in Northeast Florida, so much so that we may even see some snow flurries tomorrow (I know, Northerners are saying "ha, ha, that's cute!)
Stay warm friends!
Just got a new client at the beginning of the month and have completed two inspections so far. I haven't invoiced yet but plan to at the end of the week. Nice to have some more $$$ coming in! Blessed!
In other news, I cancelled my personal training because my insurance premium has increased. So I am postponing using up the rest of my sessions for January (after the holiday eating extravaganza). I haven't been tracking my food and I know I am eating way too many goodies.
One of the department stores nearby is closing because they are not renewing their lease at the shopping center. So...everything is reduced drastically and I bought a Queen size comforter set and additional pillow cases. Regular price was $249 for the whole thing. Price I paid was $90 and change. It was a planned buy as in, I have been wanting to buy a new set for a couple of years but the price was way too high for a quality set. Our bed looks beautiful.
Ambitious for me. I sat down yesterday and put together our monthly expenses (bare bones expenses). Then I expanded the list to 3-months, 6-months, and 12-months. I decided, that even though I have debt, I need to make a serious effort to save beyond my initial $1,000 for emergencies. My goal is to continue saving to reach these milestones. My husband and I are at the age that layoffs, injury or illness can seriously impact our life. We are truly living paycheck to paycheck. My sidebar is updated with my savings goals. I'm very close to goal #1 and once I reach that milestone, I will put it in a CD. I truly hope we don't ever have a need to touch it.
In other news, inspections for my side biz are picking up from one of my clients. More money!
Breakfast - Coffee and a biscuit
Lunch - Not sure yet
Dinner - BBQ (DH is grilling tonight)
I completed one inspection today so that is $50 for me.
I decided to combine my emergency savings with my healthcare savings. The healthcare savings was really another emergency savings for the days I take leave without pay. The amount in that pot of money was at $190. So as of today I am a tad over $100 away from my $1,000 goal. I transferred $700 to Capital One 360 so it would grow a little bit faster because the interest rate is .75%. My credit union rate is .25%.
Breakfast - The usual.
Lunch - grilled cheese, banana, pear
Dinner - beef stew and rice
Extra food - Halloween candy
Fitness - getting up off the couch several times to open the door to trick-or-treaters.
Well, today is the last day of the month and it is payday for DS1 who does a lot of the inspections. I managed to do three. He did 11 inspections and one shed tear-down and haul (with DS2 as his helper). Needless to say, he had a very good month.
In total, I earned from the side biz $150. He earned $625 and his brother earned $75.
DS1 is in college and has pockets during the day he can do these jobs. The schedule has evening and Saturdays open but most people opt for mid-day during the week.
Breakfast - The usual
Lunch - Salmon with cream cheese on toast
Dinner - 2 slices of pizza
Snack(s) - banana and a pear
Fitness - nothing
I was able to add $44 extra to my savings this payday in addition to the $25 that I automatically transfer which put me over $600. I know that I can put in $25 per pay day and I have five paydays left which is $125. That would leave an additional $250 I need to find to reach $1k by December 31st.
I have an to do today inspection today (side hustle). DS1 has been doing nearly all of them so I need to get on the ball.
Tomorrow we depart for Miami (finally)for the weekend. Teacher planning day is tomorrow so I'm taking DS3 along with my parents. DH and DS1 & 2 are staying home.
The reason for the trip is to see my uncle with Alzheimers. My dad is the oldest living sibling and my uncle is the youngest son. I think they are about 8 or 9 years apart. My aunt from NYC is here to sit with my uncle (my mom's brother).
I am renting a car instead of booking the train. Last time it was 8 hours late. Though my mother would rather take the train but I can't stand it. It's boring and it feels eternal. I would have a hard time with delays. Its a 6 hour ride by car and a 9 hour ride by train.
Breakfast - The usual (overnight oats, good belly, orange juice, coffee)
Lunch - can of fruit cocktail, chicken salad sandwich
Dinner - Tater tots.
My mom fed DS3 leftovers from their last night supper after school. DS2 ate a large and late lunch at school. DS3 was still at school come supper time (but he packed a substantial lunch including snacks). DH and I were not particularly hungry. So as a totally dysfunctional and lame attempt at a masquerade of a supper, DH put some tater tots in the oven.
What can I say? Some days are like that.
In other financial news:
We received our checks from our clients from last month.
DS2 received a refund check from the college for a course that he dropped.
Yesterday was a no spend day.
Breakfast – Overnight oats, Good Belly, Orange Juice, Coffee
Lunch – Chicken breast sandwich
Dinner – BBQ Pork Tenderloin and tater tots
Fitness – Gym and personal trainer
Financial: Several developments came about yesterday.
I received a work order for an inspection from a client that hasn't sent one in a couple of months. That one should pay $25 and luckily it is near my neighborhood. I'll do this after work.
A potential new client is a landlord who needs help cleaning out his rental properties and preparing them for new tenants. We will meet with him at one of his vacant properties which is ready for work to provide him an estimate.
A work order from another client to remove a shed. My husband will decide how much to charge and will likely do the work on Friday or Saturday.
And my son has one inspection tomorrow, three on Friday and one on Saturday. That is a total of $250 that will go in his pocket at the end of the month. We pay him the full amount on any inspection he does.
That should help build up the account very nicely!
In other news, my aunt was supposed to fly in from NYC to help us with my uncle but then came the hurricane. So she is flying in tomorrow. I can't wait to see her! I love that woman because she is like a second mother to me.
Sorry for the long and dreary post… just rambling.
Breakfast: overnight oats, coffee
Lunch: Scrambled egg on a slice of toast,
Dinner: Pork roast w/mashed potatoes left overs
Extra Food: green tea
Workout: I did walk around the parking lot yesterday while my son was in therapy and later at home I did 10 pushups. Tonight, Lord willing, I will go to the gym and exercise with my personal trainer. I need to make time to exercise now more than ever because I am feeling the stress building.
NSD for my, but DH had to buy gas and pick up some lettuce at the grocery store for his lunch salad.
My paycheck posted in my account and it is for the full amount. I found a penny and added it to my coin jar.
Received the mortgage statement and for the first time in a good while I really looked at it. My maturity date (last mortgage payment) would be June 1, 2036. Our monthly payment is 797.40. We were paying 805.44 and then escrow estimate went down and reduced the payment. We just continued paying the 805.44 which is an 8.04 difference but every little bit helps. I wish we could do a little more but that is as much as we can do right now. It amounts to about 96.00 additional per year.
My Interesting Life
My uncle fell in his bedroom last night. Seems the walker slipped from under him. My sons and I had to go over and hoist him to his bed. We are looking into getting a wheelchair for him because he feels now that he cannot support himself upright anymore. My dad is frustrated and my mom is stressed. Both are having difficulty dealing with this.
Tomorrow I’m taking annual leave to take my uncle to see his doctor and to see what he says. I will have a list of things to ask regarding home health care, wheelchair, meals on wheels, or anything else. I just can’t think straight. If anyone has suggestions on what to ask his doctor regarding services and assistive items, please comment. I want to be ready and have him set up comfortably and without worry.
I learned yesterday that I cannot apply for FMLA for my uncle’s care because it only covers parents, spouse, and children (and of course, myself). I am down to 32 hours of annual leave until my drop comes in April (my hire date anniversary). Needless to say, I’m glad I’m setting aside some cash for when I need to take LWOP – leave without pay. I see that coming in the near future.
In the meantime, on the passenger side of my car, the little latch on the car door is broken so my husband had to do a temp fix so that I can close the car until he can buy the new part and install it. I put some blue painters tape on the inside and outside handles as a reminder to not use that door. No riding shotgun for any passengers as they will have to go limo style and sit in the back seat.