Middle of August: Spending Update

Middle of the month budget update.  Okay.  The past three months I’ve been over budget.  So I’m hoping doing a middle of the month update will help me stay on track.  Here it is.

Credit Card Balances: -902.01

Checking Accounts : +1,719.65

Expected Money: +$226

Expected Savings: -$380

Expected Bill: -$440

Net: $223

So I have roughly $223 to spend over the next two weeks/3 weekends.  Oh did I mention my birthday is this month.  No biggie.  So that I’ll have a little extra room, this weekend will be a no money spending weekend.  No Starbucks.  No McDonalds.  No grocery shopping.  Nada.

I do have a more detailed budget through Yodlee which tracks my spending in every category that I’ll post later, but this month my figures are going to be off because I’ve used my checking account that does not automatically update through Yodlee,  and I’ve loaned out some money (not through my emergency fund!).  Let’s see if I get that money back so that I’ll be able to do something (that means go shopping) when my birthday comes. 

School Anyone?

I am going back to school to finish my masters.  I’m trying to pay for the sucka without student loans and I had no idea how much graduate school really costs.  It’s a shame, I know.  6 hours of classes will be around $1200.  Whooo!  How the heck am I supposed to fit that into my budget?  The problem is I really don’t have to take six hours.  Five would be good enough, but at 6 hours my students loans can be deferred and technically I wouldn’t have to pay  interest for the time that I’m in school plus six months.  I could use the money that I would normally use for my student loan to pay for school, but I hate the thought of not paying for it through my discretionary spending.    

I am definite that I will pay for school through my own means.  That is, cutting back on miscellaneous spending and putting any extra money towards school, but what should I do about my student loan being deferred?

1. I have no credit card debt, but I do have a smaller student loan valued at 2,500 that I could pay on.
2. Emergency fund.  My emergency fund is looking pretty skinny ($1,500).  That extra $200 would really help me out.    

Hmm, Yeah.  I’ll do my emergency fund.    I’ve learned my lesson about loaning money and it would be so cool if I could reach my Efund goal ($18,000 by 2013) a few months earlier. 

“Girl, why don’t you just continue to pay on the student loan?”

Hmmm, You may not agree with my reasoning, but the interest I pay on my student loan is tax deductible, I am clocked at a 20 year pay off and I’ve grown to accept it (pitiful I know), and finally having a good healthy efund is just good sense.   However, I believe I pay about $30 towards my principle ($190 on interest!!!) per month and I’ll continue to pay that so that I don’t extend my pay off period any longer. 

 

August Networth

Credit Score	708	688
Assets	July	August	Difference	% change
Checking+Savings	$2,900.00	$3,538.00	$638.00	22.00%
Home	$125,000.00	$124,500.00	-$500.00	-0.40%
Rental	$72,348.00	$72,348.00	$0.00	0.00%
401k	$3,974.51	$3,979.00	$4.49	0.11%
529	$210.00	$225.00	$15.00	7.14%
Roth	$856.00	$967.87	$111.87	13.07%
Misc (Car, etc)	$7,000.00	$7,000.00	$0.00	0.00%
Total Assets	$212,288.51	$212,557.87	$269.36	0.13%
Liabilities	July	August	Difference	% change
CC	$1,100.00	$452.00	-$648.00	-58.91%
Home	$98,000.00	$97,870.00	-$130.00	-0.13%
Rental	$66,649.75	$66,596.00	-$53.75	-0.08%
HELOC	$9,150.00	$9,100.00	-$50.00	-0.55%
Student Loans	$54,450.13	$54,400.13	-$50.00	-0.09%
Total Liabilities	$229,349.88	$228,418.13	-$931.75	-0.41%
Net Worth	-$17,061.37	-$15,860.26	$1,201.11	7.04%

 

 

 

I’m finally rebounding after a very bad (atleast financially bad) couple of months. 

 

1)       Emergency fund.  I finally contributed something to my efund after three months of withdrawing without giving anything back.

2)       My home value decreased.  It could be worse.

3)       My credit score is going down.  I need to look into that.

Other than that, all is quiet on the home front.  Here’s to getting back to being financially responsible and moving towards a positive networth.