Archive for Finance

Saving Money

I don’t really follow Suze Orman, but I think her new advice is good advice. Now is definitely the time to start saving as much as you can, and only make the minimum payments on debt. With all the layoffs and companys that have closed, it’s scary not to have a well funded Emergency Fund. I only make the basic payments on my debt now. The rest goes to savings. I also just consolidated my student loans again. I had consolidated my original student loans when I was in college the first time. I hadn’t done anything with the new loans I had when I started school the second time. Through the consolidation, I will save an extra $40 a month. My payment is changing from $187.28 to $141.61. This is a very good thing for me.

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Savings Accounts

I have 3 main savings accounts. They are my Emergency fund, Car Maintenance fund, and Long-Term savings.

Here is the interest I’ve accured for each; Month-To-Date:

Emergency – $1.24

Car Maintenance – $0.08

Long-Term – $1.73

My long-term account is actually a 6-month CD right now. I took $100 from my emergency fund Since I don’t plan on using that money (hopefully) any time soon. Plus, with working over time, I had a little more wiggle room with my finances this paycheck. Hopefully, more over time will be offered occasionally. I say, occasionally because after working 14 hours of over time last week, I thought I’d lost my mind. From now on I plan to keep my over time at 10 hours or less. The stress isn’t always worth the money.

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New Week

Sorry, I didn’t get a chance to post yesterday. I spent Day Off #2 out of town visiting family. We left the house at around 8:40am & got to my relatives’ house at about 11am. We spent a few hours at their house, checking out the remodeling they did & catching up on everything. Then we went out to lunch at The Cheesecake Factory. I’ve only been there twice. They have really good food, but extremely expensive. After lunch, we decided to take a look around the nearby mall. So not only did we spend quite a bit on food, but then I bought some clothes & cosmetics that were completely unnecessary. I have a cosmetics addiction! I love bright eyeshadows & different lipsticks. I’ve been so terrible lately! I can’t seem to control myself. However, today I made sure I locked up all of my credit cards so I can’t be tempted anymore. 2 credit cards are already cut up. I’m not cutting the other one up in case I need it for an emergency.

I’ve decided that my goal for 2008 is to pay off my credit cards before January 2009. Once that goal is accomplished, I’ll start sending the money from the credit card payments toward paying off my auto loan. Right now I need to buckle down & seriously stop spending money. If I can do that, then there’s no reason I couldn’t have the credit cards paid off before 2009. I really need to be credit card debt free so I can get everything else paid off. The faster I pay down my debt, the more money I’ll save on interest & the sooner I can get my emergency fund fully funded.

Anyway, to finish up my family outting, after shopping we headed back to my relatives’ house, talked some more & then headed back home around 6:30pm. We didn’t get back home until almost 9pm. I was so very tired for the day’s events. My mom & I were supposed to go to the gym this morning for Zumba class, but we ended up sleeping in late. I really needed. My alarm went off 5 or 6 times before I could actually pull myself out of bed.

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Blog Award

I want to say Thank You to Melissa over at  A Day In Utah for nominating me for this blog award. I feel very grateful, especially since I’m still very new to the PF Blog World. Melissa, you’re the best! 🙂
Here are the rules of the award:
1. Put the logo on your blog.
2. Add a link to the person who awarded it to you.
3. Nominate at least 5 other blogs.
4. Add links to these blogs on your blog.- Don’t forget this step. This is great free advertising!
5. Leave a message for your nominee on their blog.
Here are my the 5 blogs I nominate (in no particular order):
1. Always The Planner
2. Beach Girl’s Budget Blog
3. A Day In Utah
4. Cents & Sensibilities
5. Counting My Pennies

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A Step in the Right Direction (Or So I Hope)

For weeks now I’ve been reading several financial blogs. I find them fun & inspiring. After some contemplation I decided it may be a good I idea for me to give this a try. Ever since I’ve had a job, I’ve struggled with my finances. My family comes from a lower-middle class background, so we’ve always had money issues.  I’m afraid that if I don’t get out of debt now, that I may never & I’ll spend the rest of my life living paycheck to paycheck. That’s scares me to death. I don’t want to have to rely on my job. I want to be able to have a good size emergency fund in my back pocket in case things get rough. Financial security is my long-term goal.

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