February Redux

Month Two of 2009 down, and a ton of progress made - what an exciting month!

February:
No-Spend Days: 18/21
No Eating Out Days: 25/24
Extra Income: $45 ($35 gc for rx transfer, $10 gc from surveys)
Money Into Savings: $1,000.59
Debt Paid Off: $687.04
Retirement Savings: $1,273.45 (really!)
Other Money Spent: $376.74
Workout Days: 9
Books Finished: 3
Times Flossed: 4 (that’s a 100% increase, ha ha!)
Letters/Cards/Contacts: 3

Progress on 2009 Goals:

• continuing to reduce my Bank of Mom debt (turtling for now to rebuild savings/EF)
• have kept my amazon.com card paid off each month - monthly goal met!
• kept my credit union savings/checking account balances above $750 in each account to take advantage of the special rate - goal MET!
• new goal added: saved $100 and started another new account at Sterling Savings Bank (which will get me a $101 bonus in 3 months) – goal MET!
• met all of the monthly requirements for my Checking ++ account to earn 5.00% APY – monthly goal MET!
• Saved $1,000 and started a Roth at Vanguard. Also rolled my current Roth money out of my broker account. (This was a big goal met for me, although on my actual goal sheet it says to max out as much of it as I can by April 15.. so I guess we have to wait on that part still!)
• continued contributing to my SIMPLE IRA (w/matching)
• kept my "Little EF" above $1,000
• continued contributing to my "Big EF" (although I probably will be taking some out of it to keep working on that Roth goal)
• continuing to post on the No-/Controlled-Spend thread, and got 18/21 no spending days (aw, goal missed) and 25/24 no eating out days – goal met!
• Despite my later work schedule, I actually worked out more times this month (9!) although there were big breaks in between those days. It’d be good to be more evenly spaced out with the workouts.. we’ll see.
• Worked hard to stay positive at work this month, although it was harder than last month. Did not feel like I had a lot of energy at work. Will try better at this in March.
• Updated my resume – goal met!
• Got a performance evaluation – it was glowing! Hard to identify areas for improvement, actually. Will need to think about that part some more.
• Continued to learn about investing – I feel really solid about what I need to know for now, so I’m going to consider this goal met! (When I get enough put away to branch out into emerging markets and so on, I’ll put the goal back on the list.)
• Saved my entire tax return and put it into my new Roth! Goal met!
• Took more surveys.. and got to cash out two of them, actually! Got a $10 gift card to amazon, and will be getting a check in the mail for the other program. I’ll count that one when it actually arrives. Monthly goal met!
• Was not so patient this month. Will try again in March!
• Sent my Grandma and my Dad Valentine’s cards, and sent another card to Grandma. I’d like to add in a phone call to her for March.

Man, what a February. And to think that last February I was $20k in credit card debt. Look at me now :)

Zzzzz.....

Just a quick p0ast tonight, as I am very sleepy. I've been working some long days, trying to get enrollments up school. I seem to be getting more parents wanting me to "entertain" (?) them, show them lots of snazzy science experiments and dazzle their kids with how FUN learning is. While we do make an effort to make sure that it is, indeed, fun wherever possible--it's educational therapy. These are kids who need to make up credits, who need re-teaching or to work at their own pace. The problem is they have been in "fun" classes where they do a lot of art projects and "discover" concepts (or don't) and, most importantly, work in groups, because that is the solution to all educational problems today, in case you didn't know. Anyway it's made me feel really supremely irritated but I smile and I dazzle them (as best I can) because I want to try and stay optimistic and high-energy at work and get those enrollments. Some days are easier than others. Days that end at 8:30 pm are amongst said "others." But at least I persevered and ate dinner at home... and it's one day closer to payday!

Control

Today I called up Vanguard and opened a brand spankin' new Roth account. I'm going to roll over the funds in the Roth at my current broker, because their fees are way too high. I did a bunch of research into different mutual fund companies, I read a few investment books, and I looked up all the data on different mutual funds that would match my desired asset allocation. Yes. I made a "desired asset allocation." Of my own. With my actual brain.

I called four different mutual fund companies numerous times to get all of my question answered, and I kept calling back until I really understood what was offered. I chose a company whose customer service had been demonstrated as excellent (repeatedly), which also happened to be the company with the lowest expenses, an easy-to-use online interface, AND longer (wider? bigger?) operating hours in case I actually need to talk to a human being. I even laid out which of their funds I will be investing in (eventually, when I have enough to meet the minimum in multiple funds), but for now I can start with a lower-minimum, pretty conservatively allocated but strongly performing fund.

I went online and made a call, and now the account is open, the check is in the mail, and the rollover is in progress.

When I hung up the phone, I felt a tremendous surge of power--and no, before you ask, I had not spilled my pepsi on the power strip or anything of the sort. I just felt that I am taking financial control of my life. I am smart enough to do this, I am dedicated enough to do this, and I can do it on my own: I don't need a broker to do things for me (and sock me with a bunch of fees on the sly), and I don't need to be scared of the big bad investing world. I am a powerful and intelligent woman, and while I might not have very much money, I am going to do amazing things with that little bit, and make it grow bigger and bigger.

Just you watch!

January Redux

Oops, it's been awhile (I keep saying that, don't I?). But never fear, dear reader(s?), this post will be a doozy! Hope you enjoy:

January:
No-Spend Days: 25/25
No Eating Out Days: 28/27
Extra Income: $0
Money Saved: $300 (not including short-term savings)
Debt Paid Off: $439.81
Retirement Savings: $286.20
Other Money Spent: $388.09
Workout Days: 7
Books Finished: 3
Times Flossed: 2 (hey, at least I’m honest!)
Letters/Cards/Contacts: 4 (although one just got bounced back in the mail, so I'll have to check on that!)

Progress on 2009 Goals:

• continuing to reduce my Bank of Mom debt (turtling for now to rebuild savings/EF)
• have kept my amazon.com card paid off each month
• got my credit union savings/checking account balances above $750 in each account to take advantage of the special rate - goal MET!
• new goal added: saved $100 and started "Checking ++" account at my hometown bank – goal MET!
• met all of the monthly requirements for the Checking ++ account to earn 5.00% APY – monthly goal MET!
• working on saving up $1,000 to start a Roth at Vanguard and roll my current Roth money out of my semi-shady broker’s account to save money on fees
• contributed at least a little toward my SIMPLE IRA (w/matching)
• put some money toward a "gifts" fund, and did not spend anything on gifts or vacations yet
• technically, I *have* gotten my Little Emergency Fund/STS up to $1000 (which includes the credit union money, which is at a total of $1500). I may have to dip into that somewhat, but I think I should be able to keep it above $1000 so I am going to consider this goal MET!
• continuing to post on the No-/Controlled-Spend thread, and got 25 No-Spends and 28 No Eating Out days for January – monthly goal MET!
• worked out 7 days in January… that might not seem like a lot, but it is up from zero ;) This will be harder to do in February with my late work schedule, but I’m going to work on it.
• have done pretty well staying positive and energetic at work, and had a pretty good month!
• have learned a lot about investing this month, and have my plan in place… now I just need to save up the money!
• contacted companies and compared investments for my Roth – goal MET!
• have continued to do more online surveys, and will probably get at least one check next month
• could not do my tax return yet, as I am still waiting on one highly aggravating document to arrive! But I did start it, and it will be easy to complete once I have that form. Then I’m going to save it!
• have done better being patient with people – I think :)
• talked to my grandma on the phone twice and sent thank you cards

So I think that’s a pretty great start! I definitely have the Roth goals in my sights for the immediate future, as well as getting that tax return and saving it. I am going to try and have the resolve to save the whole thing – I think the most time-sensitive goal is getting money into that 2008 Roth before April… but paying the Bank of Mom, starting an ING (or Sterling Savings!) account for a bonus, or putting more into the Checking ++ account would all be great too!

I am really feeling excited and upbeat about 2009 so far. I think having written goals is having a big impact, and I am working HARD at saving! Now I can’t wait to see what February brings… wish me luck!

Elements of Investing for the Future

So I've started reading books about investing (well okay, just one book so far but there's several more in The Stack already), and already I'm seeing several positive steps that I am taking. In fact, the first chapter contains a list of things you should do before starting to invest, and I am doing all of them! I was pleasantly surprised to discover that I am better prepared than I thought. I have also learned that there are several things on my side when it comes to investing. my age (relatively low) of course helps, but ironically so does my not-that-high salary: it's low enough that I can contribute to a Roth, which will work out brilliantly for me in terms of taxes and I'm in a relatively low tax bracket now.[1] I am learning about asset allocation and diversification, as well as the difference between kinds of stocks, kinds of bonds, annuities, T-bills, all sorts of stuff. I am even learning about taxes. By the time I am done, I will be so smart that I will be able to wisely invest and grow money. Now, I just need to get some money.[2]

[1] This is, of course, the only time that I have not made just-barely-too-much-for-the-awesome-thing, which is how my salary is actually worded in my contract.
[2] And herein lies the problem with that not-that-high salary. Damn.

TV Revelations

So I was watching Sex and the City episodes with LaRue today (okay, so it's DVDs and not TV but whatever), and there is this episode where the main character has broken off her engagement. Her fiancee had moved in with her and her apartment had gone from a rental to a co-op, which he had bought so they could live in it. It's complicated, but anyway the point is he owned the apartment, and so after they broke up she had the choice to move (but she'd lived there for ten years and didn't want to move, and couldn't afford any other apartments) or to buy the apartment. So she goes to the bank to get a loan, and has like $700 in the bank. No loan, obviously, and she has a major freak out. It goes something along these lines:

I just broke off my engagement, and in the middle of dealing with that heartbreak (which is bad enough), I have no money, I have no assets, I'm a 35 year old single woman and I have nothing and I can't get a loan and I can't afford to live somewhere else and now I'm going to be forced to live in the streets and I don't know what to dooooooooooooooooooooo! *sob*

I'm sure this is supposed to be a very emotional moment, but instead of sympathy and concern, I felt a rushing surge of defiance, strength, and pride. Why? Because I am not that girl. I may get broken up with (you never know, I suppose), but even if I did, I have an emergency fund big enough to cover first, last and deposit at a new apartment; I have a solid job which is *knock on wood* recession proof and, besides that, a solid resume with very marketable skills; I have a retirement account of my own and a way to fund it; I have my own bank account(s); I have a strong network, both personally and professionally; and besides that, I am only 29. By the time I am 35, I will have enough set aside for a down payment on a house of my own, should I need to buy a house of my own, and I will know that independent of any man I am in control of my financial future.

Take that, Carrie Bradshaw!

[Obviously Airbear is going to marry me by then and hang on to me forever, since I am such an incredible catch and have the financial habits to make us millionaires, which he certainly needs the help with. But you know. I'm just sayin'. I'm covered.]

Successes

So I made it to seven consecutive no-spending days (7 days of absolutely $0, people!). It feels like a huge accomplishment to me. I don't know if people who aren't in the same money-geek thread I am think much of it. But let me just tell you it feels pretty awesome and I am enjoying it. So yay for good feelings :)

And speaking of good feelings, this past week was craaazy busy at work. Which is a great thing! I have been tired of it being so boring around there, and I have some strong potentials for new clients. That means more hours for my teachers, assessments for me to do (which I really do like doing), more kids we get to help, and a bit more $$ in the bank for Nitza. I think that people are feeling optimistic right now (new year, new president, snow melting away) and I hope it's a trend that continues. It does seem to help business, and besides, I like it when people are happy.

I'm also pulling some electronic strings and getting a new checking account set up that will give me a great rate - better than any savings account I've been able to find so far, ironically - so when that gets taken care of in another few days I will feel like I've made some real savings progress for 2009. Woo hoo!

And now I'm off to take a nap with the kitties. ;)