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Move = Complete

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Hi friends!

I hope you had a great weekend! We arrived back in Tucson yesterday after a whirlwind of a trip and I have never been more thankful to sleep in my own bed!

Initially, my brother was going to go assist my Dad with loading a moving truck a month or so ago but, due to circumstances beyond anyone’s control, that didn’t happen. My sister and I were both unable to go for the originally scheduled move date but I decided to go over my Thanksgiving break since I had a few days off from work (though one is never really “off” in academia – I monitored my email daily).  At first I had booked a flight to go alone:  fly out on Monday, load on Tuesday, then fly back on Wednesday so I could spend Thanksgiving with my own family. But after some thought and discussion, we decided to make a family trip of it. I’m so grateful it worked out that way because I really needed the emotional support of having someone else there with me. Moves are stressful enough (one of the top 5 life stressors according to here), but I think things were exacerbated a bit being that this move was not exactly a happy, exciting, or even desired thing. It was more a chore of necessity to get my Dad somewhere closer to family where he can be helped and watched over better.

Unfortunately, we couldn’t leave town until Wednesday because hubs’ work had him busy all the way through Tuesday evening (he worked late to finish up on time). So we made a 14-hour drive on Wednesday (some of it in snow driving only 20 mph). It was nice that we got to spend all day Thursday hanging out, enjoying good food, and visiting with extended family that I don’t get to see too often. On Friday we had movers, so we fortunately didn’t have to do any heavy lifting, but we still had to direct things which was rife with stress given that not everything could go (my Dad is downsizing), and this was quite troubling for him to see things get left behind.

After the truck was all packed, my family went and checked into a hotel (there was still a guest bedroom set that was left behind in my Dad’s house so he still had someplace to sleep but his other bedroom set was packed). We all took a long family nap, and then met back up with my Dad that evening to go see the Christmas lights at Temple Square. Besides it being the coldest weather the girls had ever experienced (bundled up in 4+ layers and still complaining of the cold in 23 degrees), they really enjoyed seeing all the lights! I can’t wait for Christmas this year – it’s going to be such a fun holiday with them!

We left town on Saturday morning, but split the return drive into two days so it wasn’t quite as grueling. Still not what I would consider pleasant by any stretch of the imagination, but far preferable to our 14-hour one-day drive. Plus – the girls got to see and play in snow!!! They’re obsessed with Frozen (they were late to the Frozen game because we didn’t let them watch movies until just relatively recently), and they kept pointing at the snowy mountains saying, “Look!!! Elsa’s ice castle!!!” Pretty adorable!

Financially speaking, the trip didn’t cost us anything since my Dad covered our costs for gasoline, lodging, and food (all of which was pretty minimal. It actually saved my Dad money for us to all drive compared to what my plane ticket had cost). The only other cost incurred was that of missed work for hubs. Yes, no one really works on Thanksgiving Day, but he could have worked over the weekend and was unable to since we were out of town.

Speaking of….I’ll be posting a debt update later today. I have to maintain a positive attitude and realize and acknowledge that November is always a relatively down month for hubs’ business. But, of course, it’s a bit disappointing to not have earned as much as we would have liked/needed in order to make our astronomically large planned debt payment (we’d planned for a $4500 debt payment and didn’t come anywhere near that). Those numbers will be up later.

But to end on a happy note, I’m so thankful that the first phase of this move is complete. My sister will be meeting the movers in Texas and overseeing as things are unloaded. She will also be the person to help actually set things up once they come off the truck. And, just like that, the burden has shifted off my shoulders and onto hers. I’ll still be primarily responsible for paying my Dad’s bills, but all the day-to-day things will surely fall to my sister now that he’s close to her.

Right now my Dad does NOT want to sell his old Utah house. We’re trying to take things in baby steps so, rather than pushing him too far, we decided it could just sit for now. I’ll be hiring a lawn-care company, his brother (my uncle) will check up on it regularly, and we will revisit the issue in the Spring or Summer. It’s likely we’ll make another family trip up there at that time so hubs can do some general handyman work around the house and we can finish clearing it out of its leftover contents.

I have to say – my Mom has been caring for her aging mother (my grandmother) for a half decade. My grandmother did not do a great job at planning for retirement so the financial burden of her care has fallen directly to my Mom as the only child. It pains me to see the stress it has caused my mother and the financial toll is not trivial (over $4,000/month). I hate that my siblings and I are in the caregiver role for our father, especially at such a young age. That being said, I am beyond grateful that my father took better precautions than my grandmother had, and that he actually has assets (both liquid and real estate) to help pay for his care. As stressful as the situation has been for us, I cannot begin to fathom how much worse it could be if all of these costs were falling directly onto our shoulders. My heart goes out to anyone who has had to financially take over caring for their parents. This has definitely been a lesson to me to get our financial house in order so we never leave our children with the burden that’s been placed on my mother in financially caring for my grandmother. It’s hard enough to take over as caregiver. The least we can do is make sure that we have ample money available to pay for whatever care we may need as aging adults.

Food for thought on this Monday morning. Have a good one!


The Year of Becoming an Adult: September Update

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In October of last year I wrote about some of the financial goals we have for the year 2015. I called it “The Year of Becoming an Adult” as a way to acknowledge that, at the ages of 31 and 32, we really should have had these tasks taken care of long ago! It was long past time and 2015 was our year to tackle these important adult milestones.

There were four things, specifically, that I had mentioned. Time for a little status update on each of them:

  1. First, we’re going to make a will. This is finally done! I actually made the wills on my birthday (December 31st), but it took us MONTHS to get them notarized! In our state we had to have two witnesses and we had a hard time getting people to be our witness. We asked bank employees (nope), we asked friends (yes, but had a hard time finding a time that worked for 2 separate friends at the same time), and finally we got it done when hubs’ mom and grandma came to visit a couple months ago. Kind of ridiculous that it required two people coming to visit us who could serve as our witnesses, but the bottom line is this task is finally completed and behind us.
  2. Second, husband will get life insurance. Quick recap for newer readers – hubs had a mystery illness at the end of 2013. In summer of 2014 I got life insurance and tried to get him some, but he was rejected due to the mystery illness (doctors never found out exactly what was wrong with him). He was advised to wait a year and try again. So initially we were going to reapply at the beginning of this summer. But hubs has been on a hard-core mission to lose weight and wanted to wait until his weight-loss is complete so he can try to get better prices on life insurance. He started his weight-loss mission on June 1st and in the 3 ½ months since then he’s lost a total of FIFTY POUNDS!!! Yes! It’s incredible! Like watching an episode of extreme weight loss in front of my eyes! He wants to lose another 20 lbs. but I think we’ll probably initiate the life insurance process early next month (October). I remember from last time around that it was a couple-month process – not a quick overnight thing like I had expected. So this should still be done by the end of the year, but hasn’t been handled yet.
  3. Third, we’re going to open retirement accounts. Success! In April (before tax day), we opened up our first Roth IRA for 2014. It was a meager contribution ($1,000), but it was a start. For most months this year we’ve been setting aside $100 to be added to the Roth. But then when I started my full-time job in mid-July things really kicked it up a gear. I’m now contributing 10% of my full-time job income to a retirement account, which is being matched up to 7% from my employer. In addition to that, I’ve opened up a FSA (flexible spending account) for dependent care. I contribute $500/paycheck of pre-tax money so I can pay for the girls’ care with pre-tax dollars. I actually haven’t made a withdrawal from the account yet (and I need to!), so I need to figure out how to do that. But the point is that we’re now contributing to various retirement accounts (mostly through my employer’s 401a but still a little in a Roth), as well as taking advantage of a tax-advantaged FSA.
  4. Finally, we’re going to open college savings accounts for our girls. This one still hasn’t happened yet. Starting in June (the month of their birth), we’ve been setting aside $25/month with the intention of opening up a college savings account. Honestly, I’ve been so overwhelmed with work and stuff happening with my Dad that I haven’t been able to investigate into this further. Matt made it sound like it was super easy-peasy when he opened up an account for his niece, so I just need to bite the bullet and do it. In the meantime, the money has been earmarked for this purpose (I categorize it using YNAB’s budgeting system), so it’s available when I finally do get around to actually opening an account. I’ll go ahead and put this on my To Do List for the beginning of October, too. So I’ll call this a half-success since we’ve actively started saving the money but haven’t actually funneled it into an appropriate account yet. The intention is there, so now it’s just a matter of the follow-through!

Those were the main things I had discussed in my original Year of Becoming an Adult post, but I’m also happy to announce that hubs is finally getting a handle on his dental issues, too (never mind that it took an all out emergency to make that happen). Actually, TODAY is the day he’s getting his first quadrant of work done! He’d gone to the dentist right after the emergency but had to be put on antibiotics before any actual work could be done so today is the D-Day (D as in Dental work). We’re hoping to knock out one other quadrant before the new year (to max out our dental insurance benefits), but that probably won’t be scheduled until late November or December sometime to allow us a couple months to try to save up some more money. Remember – this round of dental work cost $665. I’m not sure what the next quadrant will cost but I’m assuming it will be pretty comparable. Allowing for a couple months’ buffer to restock our dental savings account is really helpful for us.

So there you have it!

#1 = check!

#2 = in progress

#3 = check!

#4 = in progress

BONUS (dental work) = in progress

 

I’d love to report more successes/check-marks but with the cards life has dealt us this year I’m pleased with our progress. When life gets crazy, baby steps is all we can ask for. As long as we’re moving forward we’re moving in the right direction! : )

I’ll be sure to update in a few months when I can hopefully report that ALL of these items have been checked off the “Year of Becoming an Adult” list!


Month in Review- August ’15

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Hello on this Tuesday evening. I hope everyone had a great holiday weekend.

I realized over the weekend that it is time for another month review, so let’s dive into it:

  • At the beginning of the month, we (GF and I) decided to do a garage sale (here). The thought was launched after reading a book about de-cluttering our house. However, after much work, we still have not done the garage sale :(. It’s still on the forefront of our minds, but the stars just haven’t aligned, where we’ve gotten a weekend free of no plans to just do it. Plus, we still have a lot of work to do going through our house. The basement is done, but the attic is only 25% cleared. My fear is that we are too late for garage sale season. Should we just hold off until the spring?
  • Here, I posted about my plans going forward for paying off my debt, albeit with some caveats. I’m keeping the fun fund going, continuing my contributions to my nephew’s ESA fund, continue contributing 10% of my pay to my 401k and pay weekly towards my mortgage ($150/week).
  • It the same post, I also outlined my timeline for paying off the debt. Hope fully this will occur in 18 months (now 17) before I hit 30, but most likely to happen in 22 (now 21) months.
  • In this post , I showed everyone the less than professional card I made for my dad for his birthday. I also highlighted some of the other things we did for him. He loved our gifts for him and we had a great time celebrating his 55th.
  • In that same post, I also shared my budget with everyone. This is the budget I’m going to use from this point moving forward.
  • In Weekly Update #22 (here), I shared my plans concerning my life after debt. This stirred up some controversy, particularly my plans concerning my retirement funding. My ultimate goal is to become financially stable without having to worry about a traditional job. This isn’t saying I’m not going to work at all; I do plan on making making still in some capacity.
  • The following week (here), I outlined my past, present and future stances on my retirement contributions. I received some great feedback from all you which I’m using to more carefully outline my post debt retirement plans.

Financially speaking, this was a very successful month back from vacation. All together, I was able to pay off $1,883.94 this month! Not bad.

And to update my balances since last week, here you go:

Loan NameInterest RateOriginal Balance- May '09Current BalanceTotal Paid OffPaid Since Last Week
Sallie Mae 015.25$27,837.24$23,719.92$4,117.32$0.00
Sallie Mae 024.75$22,197.02$18,604.04$3,592.98$0.00
Sallie Mae 037.75$20,692.10$0.00
$20,692.10$0.00
Sallie Mae 045.75$10,350.18$3,342.10$7,008.08$703.13
Sallie Mae 055.25$6,096.03$0.00$6,096.03$0.00
Sallie Mae 06 and 074.75$6,415.09$0.00$6,415.09$0.00
Sallie Mae- DOE 015.25$5,000.00$0.00$5,000.00$0.00
Sallie Mae- DOE 025.25$3,000.00$0.00$3,000.00$0.00
AES6.8$9,000.00$0.00$9,000.00$0.00
TOTALS$110,587.66$45,666.06$64,921.60$703.13

I hope everyone has a fantastic week!

 


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