Posts tagged with: making wise decisions

Our New Life in Full Affect

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The last month has been a blur.  Today is my one month anniversary on my new job.  It is going great, and I am LOVING what I do. The wait was worth it to find the perfect position and the perfect company. I am so grateful.

Let me fill you in on what has been happening:

  1. Worked 40 hours per week in the office at my new job.
  2. Continued to work 25 hours a week for one of my part time jobs.
  3. Continued to work approx. 10 hours a week for my other part time job.
  4. Continued to school the kids – we are meeting twice a week (Sundays and one night a week) with intermittent study times together at night when the kids get stuck. It is definitely not ideal.  I’m going to have to re-evaluate our curriculum for the fall. But we will finish the school year in the next month and move on to a lighter schedule for the summer.
  5. Gymnast is going to gym (1 hour away) twice a week and soccer less than a mile away, 3 days per week.  He needs the energy outlet.  He is gone for the week with cousins to FL — this is why I wanted to move near family.
  6. Princess is playing basketball and has gotten involved with the youth group (that’s a first for her.)
  7. Sea Cadet continues to work at the movie theater he transferred with from Virginia, and looks forward to returning to VA the first week of June where he will spend the summer working as the Senior Boys Counselor at the same camp he worked at last year.

If you have done the math…I’m putting in upwards of 70 hours a week at work.  Oh, and I forgot, I’m starting every day with an hour in the gym.  It’s been life changing.  It’s been a whirlwind!  But I do have some exciting news…

We have rented a house!!!!  And you will not believe my rent…it is only $650 per month!!!!  I can’t believe it.  It is exactly the reason I wanted to move here.  We have not moved in yet, because frankly we don’t have furniture. Sea Cadet is staying there now on some old furniture family gave us, but we don’t have any beds.  Our stuff will be delivered by Upack on Tuesday so we can start making it home.  I have decided to move all the way in (we haven’t unpacked our stuff in over 2 1/2 years) and make it home.  We are all excited.  But it’s going to be a while before Gymnast, Princess and I move in while I watch for good deals and save money to get beds.

Our new home is 3 bedrooms, 1 1/2 bath, small manageable yard with just enough space for the kids to play.  Really, the only two things I am going to miss right now are 1) a dishwasher and 2) being able to have pets.  But all in due time.

A monthly budget is on the horizon.  I’ve just gotten my first full paycheck so I have a better idea of what my take home will be.  I did use every bit of my savings to get into the house.  I have to pay a $500 deposit, $650 first month’s rent, $250 to the city to turn on utilities and about $100 for a few odds and ends to get us started (toilet paper, broom, mop, cleaning supplies and a shelving unit to create a pantry in the laundry room.)

Princess and I return to Virginia this weekend for her to get her braces off.  It will be a quick turn, and it is the last trip we have planned. My new job has already agreed to let me work remotely while I travel, which thrills me to no end!


And We’ve Got a Plan

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As I mentioned in the last two weeks, my mind has been spinning with what my next plan of attack should be.  And I’ve finally decided that I what I need to do is sit still and wait.

The debt cloud continues to hang over my head like a dark cloud which I’m certainly anxious to tackle.

But I think even more pressing to me is what will happen in April when I am determined to leave our tiny space.

So I’ve decided that for the next 4 months (September thru December,) I will make only the minimum payments and store up a little nest egg of debt payments.  By my calculations, allowing for a little bit of extra for the twins’ birthday in October, property taxes in December and Christmas in December, that will bring me to right over my 1/2 way goal for moving to a purchased house.

In January, I think I will have a better idea of what my plan is for April.  And at that point I will either 1) payoff the smaller of my loans (ex-husband’s car which is interest free until January) and continue to save toward the move or 2) make the move/purchase the priority and continue with minimum payments to put me in a good place to move.

At this point I am definitely leaning toward choice 1, but I want to be smart and really feel I need the time to be sure.

One caveat to this…I am going to continue to look for more work.  In the Spring when I picked up new work, I just socked the money away and it came in very useful for some extras and summer fun.  With this plan, the extra would pay for additional debt payments.  And if I work hard and am able to get some decent work, I could get to January with my smallest debt already paid off or close too and a nice little nest egg towards the move. Now that would be ideal!

 


Floundering a Bit on a Plan – Too Much Going On

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I am typically pretty decisive on my plan, but I’m really floundering this time around.  We just have alot going on at the same time.  And I’m struggling with my priority list.  So here I am asking for some feedback from you.  In a nutshell, here are the  things going on in my head that I’m trying to balance along with my debt payoff (these are listed in no particular order other than how they came to mind:)

  • Kids Co Op Costs – As I mentioned last spring I am going to be teaching two classes this fall as our homeschool co op to off set the cost of the kids’ classes.  I had hoped that those two classes would fill and I wouldn’t have to worry about any tuition costs; however, it does look like there is going to be a difference.  Typically, the little’s dad would be helping with this and this would not be an issue.
  • Moving/Housing Costs – When our lease is up next April we are LEAVING.  So I will definitely have some moving expenses or at least storage costs.  Since I HOPE to be buying, I need to seriously consider upping the ante on my savings beyond the EF fund that I add to a little at a time.
  • Travel – One of the places I am definitely going to loosen my financial belt a bit this coming year is on travel. We have two trips planned this fall, both to see family, so not much expense except gas and a bit of food…and we’ve just been presented with the opportunity to spend a weekend in DC and work a marathon which would be fun, but it is volunteer and I would have to cover our costs.  (I’m not thinking beyond April with this, just short weekend trips to see family.)
  • Educational Camps – One thing we really cut back this year was some of the educational camps/experiences we have done in the past.  And with the twins beginning their junior year, I’d really like to get a few more in before they are in the “real” world.  Not to mention, some of them count as a semester worth of credit for classes so they truly are “school” related.
  • Music – We cut music out of our curriculum in the Spring of 2014.  It was one of the first “big” cuts I made.  At the time I knew it would be a temporary move, but I didn’t realize it would be so long.  Princess has been asking when those lessons can resume.  So I would like to consider adding them back in for at least her and any of the boys are would be inclined to really commit to it, ie practice.

So you will see I have a lot swirling around in my head thus making my “debt” payoff plan a bit more challenging.  I really like my new budget…but I have to consider these others things and really make some decisions again.  So let’s talk numbers, here are my estimated costs for the items listed above at least through April based on sketchy ‘ideal’ plans of which nothing has been decided or committed to.  In fact, none of this has even been discussed with anyone other than you now…the sucky thing about being a single mom is having no one to bounce these things off of!

  • Homeschool Co op Classes – Currently the kids are registered for several classes each over 2 days.  The cost per semester will be right at  $2,170, I can get a 10% discount off that if paid in full up front.  Currently, it looks like I will be able to bring in right at $1,600 for the two classes I am teaching.  I do still have openings in them both so if filled, it would cover everything, but I have to plan accordingly for now.
  • Moving/Storage – I have no idea how this will go.  I would anticipate at least $200 for a storage unit to hold everything if we were to hit the road.  And probably a solid $10,000 would be a good place to be if we were to find the right place to buy.  These numbers are just coming off the top of my head.
  • Travel – Right now I am budgeting $250 per ‘family’ visit trip.  This would cover gas, some extra food and that’s about it.  Since we’ve been doing this particular trip forever, I know this is slightly higher than needed, but want to give myself a bit of wiggle room.  Two times this fall and maybe one time in the Spring before April, so a total of $750 for family visits.  And the possibility of DC, I don’t know?  (Little Gymnast’s meets are a whole other story and I will cross that bridge when I get to it and have a meet schedule.)
  • Educational Camps – There is really one in particular that I would like to send both the twins to for a week early next year and Princess to for a day.  The total for this would be right at $1,000.  (Oh, I can predict what I’m going to hear about this one…but I’m telling you, this is a solid educational program that they will NEVER forget and it does require about a month long preparation on their part to be ready for it homework-wise that is.)  Oh, and if I register them in September, we would get a little over $100 off.
  • Music – This one I really struggle with for two reasons.  One I know how important music is both educational and emotionally.  But on the other side, music lessons are expensive and with our currently living situation…practice would be hard.

Ugh, so if you are still reading and have gotten this far, thank you.  I know this is not the most organized post.  But this is where I am at as I try to discern the best path for paying off debt which I TRULY am still laser focused on AND maybe add a bit more life back in and plan for upcoming things.