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June Financial Summary

It’s incredibly hard to believe that it’s already July. Where has time gone?! I spent a little too much time in the sun yesterday and today I’m off to the wonderful Pacific northwest. I can’t wait to get out of this heat!

Debt

Here’s how things look:

As a reminder, you can view the full, most up-to-date debt spreadsheet here.

Budget

Didn’t track it again because of all the travelling I did. Crappy excuse, but it’s true.

Net worth: $18,315.65  (up 11.31% from May)

My net worth FINALLY started turning around and had a positive increase. Sometimes I still get frustrated that it is so low (shouldn’t it be higher by now??) I look at how far it’s come in the past year. Up $12k over the past 12 months and I realize that’s not too bad!!

I paid off all my credit cards!!

photo by D Sharon Pruitt

I accidentally posted this Wednesday a little prematurely… but today it’s official! I am free from credit card debt that just 10 months ago was over $8k.

I had this lovely email in my inbox this morning from Mint:

Now that I’ve knocked that one off my financial goals list, time to knock off the next one: my personal loan. Stay tuned!

May Financial Summary

I am late late late this month for the update. I spent the first 10 days of June travelling and away at a conference. It was fun, but I haven’t been so happy to be home in a long time!

Debt

Here’s how things look:

As a reminder, you can view the full, most up-to-date debt spreadsheet here.

Budget

Again, I totally failed at keeping up with my budget, however I know that I came out positive. Always a good thing :)

Net worth: $16,454.16  (down 10.00% from April)

Another depressing month on the net worth and saving money front, but at least my debt dropped by almost 10%.  Just gotta keep on keeping on!

Bad Money Choices: Getting a Roommate


(image via allexperts)

Today’s topic is on a Bad Money Choice I made that almost all personal finance bloggers will tell you is a great idea.  After living alone for several years, I got a roommate.

The reason this ended up being a poor decision is because the roommate and I had very different values and while she ended up saving money (I think), my expenses increased…. so how did that happen?

Since we both had dogs, we decided we wanted to move into a house with a yard.  Since houses don’t come cheap like one bedroom apartments, obviously it made sense to move in together.  We found a wonderful 1930s house that was approximately a 10 minute drive from our workplace.  We thought we could overlook the fact that it only had one bathroom.  Second mistake.  The first was that it was a 1930s house.

After moving in, I suddenly started paying for cable (I watched for maybe one or two months), my water bill increased by $20-50 a month overall (so $10-25 extra per month) and electricity skyrocketed to between $100 winter – $200 summer per month. Considering my electricity had never been higher than $60 on a particularly bad summer month before, this was a hit.  Even in the winter, I was spending $20 more on my half of the bill than I did on my highest month alone.

So let’s add it up:
- Rent – no change
- Cable + $20/month
- Internet – no change
- Water +$15/month
- Electricity +  $90/month*

Grand total per month = $125/mo extra spend or $1,500/year.
*based off of $60/mo previously and $150/month in house

I could have paid of my credit cards a month earlier if I’d just continued to live by myself in an apartment.  She wasn’t a bad roommate and aside from the usual annoying stuff that happens with roommates, the fact that I was spending more money (instead of saving) just added insult to injury and made the situation worse for me.  Well, that and my totaled car, but that’s a different story.

Lesson: If you’re going to get a roommate, make sure you’re on the same page.

Happy Hingepin Day!

via malljes13.tumblr.com

I’m celebrating today by driving 400 miles across Texas, but no matter… it’s Hingepin Day!

What is Hingepin Day? It’s the day I had that moment. The one Dave Ramsey describes as:

Les Brown, the great motivator, said people change their lives when they say “I’ve had it!” When you have that moment, that’s when you start to change things in your life. Your life swings on moments like that; it’s a hingepin moment. Circle that day on your calendar, because it’s a day that your freedom began. (source)

Well I circled the day in the calendar and set up a reminder, because really, all too often we I focus so much on the difficulties and how far we I have to go, instead of how far we’ve I’ve come. (I’m the worst offender lately.)

So today I celebrate whipping myself into shape and the $9k+ of debt that has been erased from my life since last May… meaning I am officially HALFWAY THERE!!! Time to break out the party hats (or go for a 10 mile run, whatever floats your boat).

I feel stressed, but I no longer feel the burden. The debt no longer crushes my life, my livelihood and my soul. Don’t get me wrong, I am so, SO ready for the remainder to be destroyed, but I can breathe now. In the past, a couple hundred dollar medical bill would’ve crushed me, but now it’s manageable. Bills are annoying, but they no longer control me.

And on the fun side, if I want to take a trip to New York or Portland, I do. Hingepin Day is definitely a day to be remembered and celebrated in my personal life. Looking back to where I was then and where I am now, I can’t help but think… Life. Is. Good.