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Archive for December, 2016

2017 Goals

December 29th, 2016 at 12:30 pm

I just sat down and re-did my finances for the next year. It is hard to come with goals as things are still topsy-turvey.

The biggest news right now is that I traded in my $640/month van and leased at $210/mo small, good gas-mileage vehicle. All maintenance, among other things, are paid for in the lease amount. So all I will pay for the next three years (knock on wood) will be the lease, gas, and insurance. I am feeling a lot better about my car situation. Hopefully when my income stabilizes, I can start saving up for cash for my next vehicle.

My 2017 goals are quite simple, but yet tough at the same time:
1) Fully fund HSA - This should be easy. I have it on autopilot. $255/paycheck. This is a high priority due to my children's diagnoses. I will be cutting other discretionary areas in order to be able to do this the first few months.

2) Get rid of credit card debt - I currently have about $4,000 of credit card debt. I expect it to go up here once I get December and January's lawyer bills. It is a 0% credit card thru this year (and some of next). If I can, I will need to put at least $400/month towards it on average, without putting anything else on it. This will be impossible in the first few months of this year, but I sure hope it will work out later the year.

3) Create an EF fund - Start off goal is $1,000. I think I might even focus on that before the credit card payoff. After debt is gone, every extra penny is going to go into this for this year. Eventually, I want to get to $2,000 (one month of expenses), then $6,000, $15,000, and finally, the ultimate goal of $30,000! Someday, that is... ah, dreaming.

4) Contribute to 401K - I don't get employer match, so for the moment I am only putting $10/month in. Once my income bumps up to where it was again, I plan to put in as much as I can. Someday goal includes maxing it out. I need to plan to take care of myself without help from husband or children. I can do it!

5) Create "adult" documents - I need to create a will, power of attorney, medical directives, etc. I will probably do an online DIY one for temporary, and once I have more financial wiggle room, I will get a lawyer and get it nice and cleaned up and tight. I would rather have something than nothing.

Holding Pattern

December 21st, 2016 at 11:57 am

Since my last post, between the snow storms and the illnesses in my family, I haven't actually been able to do any of the cost saving measures that I wanted to do.

I did call my cell phone carrier and got it moved over onto my own line. I didn't drop to a cheaper plan though as they had a deal for me this month. It's on my next month to-do list now.

I need to go test drive cars soon though. I should do it today, but the vehicle I want to trade in is a complete disaster for them to look at and price. Needs to be cleaned up and de-toddlered. I will do it this week sometime.

I have found out that my income will be low, but steady for the next few payrolls. It will be up in the air come February, but I already have a cash cushion, so I can handle it if need to be, even if I don't cut the costs up above.

My 0% credit card is my emergency fund right now. It has a good chunk on it right now between lawyer, car insurance, and tires, but most will be paid off at the end of this month. Then I have a good 15 months left to pay off the rest slowly as I can.

As for what debt I will be getting post-divorce, well, I should find out in the next week or so. Hoping that it won't be too bad. It really won't, I don't think. I am cautiously optimistic, but until we are before a judge, I will still hold my breath.

Little Calmer

December 6th, 2016 at 10:36 am

I am still waiting for the shoe to officially drop.

I am very skeptical with my income, I am not sure if I will be getting much in in the next two months. I do know that I currently have enough to make it thru January, and possibly some of February. Thankfully I have no rent or utilities right now.

I am also very hesitant about what debt I will get after divorce is final. I thought we had it all worked out, but a few things have made me think he is reconsidering some of his stance.

So.... financially, I am up in the air. It will all work out in the end, that I am sure. Until I know, though, I am going to be very cautious.

So I have a plan. I am going to get a cheaper phone plan at the end of this month. I am going to trade in my expensive van for a -way- lower payment lease on a smaller, better gas mileage car. I am going to apply for an every other weekend part time job. None of this will hurt me.

But most of all, I am going to keep enjoying my kids and keep doing inexpensive fun stuff to keep them healthy and happy. I am going to continue to lose weight and build up my strength so I can keep up with my active kids.

Life is still good. Tough, Unknown, but Good.


December 5th, 2016 at 12:15 pm

Halfway through writing a post for here, I found out a few things that totally changed my tune.

Originally, I was all happy for this month. Finally feeling like winter. Almost done with joint liabilities. Seeing light at end of tunnel....

Then wham. I think a train is coming and I have to back up and get off the tracks.

I HATE being on uneven footing. I HATE not being able to plan for anything. I HATE not knowing if I will be paid or what my liabilities are/will be. Assets feel useless since it isn't cold hard cash.

I swear as soon as I can I will build up a HUGE emergency fund. HUGE. 6 months to a year style. I will get rid of all debt. ALL OF IT. This I pledge. I am SO DONE with the unknown and being unsecure. DONE.

Time to figure out additional income. Second job? I don't know when/where, but I sure will try. Sell stuff? Another I don't know when/what, but I sure will try!