Nine days left of this project

I am amazed that the time moved so fast. There were weeks, no months, that I even forgot that this blog was here for me.

In nine days, I plan to write a recap about my 365 debt reduction journey. As of today, I am feeling content with my progress, understanding that I have a way to go before my financial journey can be deemed a true success story.

Today, I shopped at Target for household items that I needed, but could have lived without. That is a huge step. Almost one year ago, a trip to Target required a very short less of absolute necessities, such as toilet paper and milk. Things that were needed to bridge me and my family from one week to the next, anticipating another small paycheck on the horizon. Today, I was able to look at items to help organize the house, and even enjoyed time checking out extra kitchen items for another shopping trip.

My bi-weekly paychecks haven't gotten much bigger, but they seem to carry a better wallop these days thanks to my new budgeting system. My system is a two parter - checking my online bank accounts while viewing my iPhone budget. Every morning with my coffee, even during the busy school year, I go online and see what checks and debits have cleared the bank overnight. With my laptop screen displaying my checking account, I take my cell phone and open up to the "notes" app that has my monthly budget.

Each item of my budget has (1) a date, (2) creditor, and (3) dollar amount. On the morning that a budget item has cleared the bank, I type a large "X" next to the item showing me that it has been paid. I then use the laptop calculator to determine how many dollars are left before the next paycheck.

For example, when my online bank account says that the automatic payment for the telephone bill has cleared on its due date of July 15, my iPhone budget shows me:        
15 Telephone $145.00 X
The "15" next to the word "Telephone" means that I must always anticipate this auto payment on the 15th of every month, and this helps me to never be surprised by an automatic debit or a check that I forgot to write down in my ledger.

After my trip to Target for a new shower curtain, a couple of on sale space saver bags, and some bright red lipstick (a little $6.00 splurge!) I got home to find a tree service guy waiting to speak with me. I had called yesterday to schedule an estimate to clear some of our brush. I had budgeted $200 for this job to be done, but I ended up saying to the guy, "I really don't want to spend more than $125." After a brief negotiation session, we agreed on clearing our brush for $188. Win for me!

I like this new me and this new found sense of spending freedom. Even though my teacher's salary doesn't afford me to spend like a maniac, at least now my care has led me to make purchases that continue to make small improvements around the house.

Almost 3/4 finished! 257 completed /108 days to go

It has been too long since I've written. Time flies. Money isn't as tight. I've been feeling a lot more like a success than a failure, and here's why...

1. I haven't had an overdraft in my account since last fall. God's honest truth!
2. I've opened up a savings account.
3. I contribute at least $200 every month to said savings account. I've got over $1,000.00 presently.
4. I check my accounts every day. Every day. No lie and no joke.
5. Whenever I check my accounts, I compare my latest balances and spending with my budget. Every bill and due date is on my phone, just a few click away.
6. I can new clothes and shoes for my children any given week.
7. I can shop at the more expensive grocery store if they have a couple of things that we need or want.
8. My cupboards, refrigerator, and freezer are packed to the gills weekly....no, daily!
9. I can afford a monthly massage and still have money leftover for ....  whatever my family needs.
10. In only two months, I will have paid off nearly all of my debt, aside from student loan. Once the debt is paid off, both the kids' college funds and our yearly vacation fund will be substantially beefed up.

I owe this success to the power of writing. When once puts ideas and feelings onto to paper (or an online platform), it sets action unconsciously in motion. When I look back on what I wrote last July, I have done nearly everything on my list of things to accomplish, except joining Debtors Anonymous. I looked into that group, but it didn't fit my schedule.

Also, I've appreciated the support of Savvy James and others through Twitter that have helped me on this journey.

Only 3 and a half months to arrive at financial betterment. Yay!~

131/234: Sittin' pretty

Today is December 1st. While most people measure how many days there are until Christmas, I measure  how many paychecks until Christmas. For me, it's two paychecks: the one from this past Friday, and December 13th.

I am sitting pretty with a checking account that is healthy and bills scheduled to be paid. I have had my student loan switched out of a collection agency and back with the Department of Education. That is a huge difference from last year.

A year ago today, I was opening up bank statements that showed insufficient funds. I was facing Christmas shopping with a headache of worry, knowing that the only way I could afford anything was if I postponed paying the phone and electric bills.

Today, I keep my budget on my iPhone and I regularly check it. No bill are paid late and I always know how much is left to spend.

This Christmas, I have $290 this pay period and up to $600 on December 13th. I will be getting a $2,000 bonus in January for teaching an extra class this semester, and I've reduced my health savings account by $100 per pay period. That means that once Christmas shopping is paid with cash, I will have a wealthy feeling in January. I don't wish that sick "oh no, I've maxed my credit cards after the holidays" feeling on anyone, but I'm happy that at least I won't be feeling it. Hopefully, I'll never feel that feeling again.

82/283: I slipped up!

I did, I slipped up a bit, but luckily not too much.

I've been feeling pretty proud of myself these days. Always some money in the bank, no late fees lately, and all of my bills are scheduled to be paid on time or early. Until this morning...

I hadn't been checking my checking account every morning like I had been doing this summer. Instead, this week I rode the wave of over confidence. Instead of knowing my balance to the penny, I spent the week guessing how much I had and doing what I believed to be underspending. Well, this morning I got quite a surprise, and not the good kind.

I still was in the black, but realized that one credit card bill was not showing. It should have cleared $80 on Oct. 9th, but it didn't and it was already Oct. 12th. Hmmm....

After further investigation, I realized that I had forgotten to set up an automatic debit for that credit card. Therefore, I was charged a $35 late fee on the 9th instead of seeing a payment made. It's my own fault for not checking my budget daily.

Live and learn. On the bright side, I've been enjoying the thought of being almost done paying my Citibank card. I have one more $125 payment this month (tomorrow) and then a $30 or so last payment on the same account. I get to see that payment in my rear view mirror, and I can't wait.

Also, Larry has offered to take the kids under his health insurance. That means that I will be paying only single person coverage at $600 per month instead of family coverage at $1,300 per month. Wow, a $700 savings per month, or roughly $350 every two weeks? That will feel like heaven at first after a short honeymoon of treating the kids to a nice dinner out and maybe a movie or go karts or something. However, I plan on putting part of that savings into my daughter's college fund and another part of it into a savings account which I plan to add to every paycheck.

It feels good to plan like this. It makes me feel so much more in control than I felt last July.

67/298: Sleeping well these days

I haven't written in nearly three weeks because school has started. I'm a high school teacher that is also raising two kids on her own, so minutes are tight. My budget is tight, too, but for two months now, I'm more in tune with my spending and debt paying than ever before.

As of today, I've got only one more payment left on a Citibank Visa which at one point had a balance of $6,000. On top of that, I have only seven months more of credit counseling which has been helping me to pay off nearly $40,000 of credit card debt that my ex-husband and I accumulated before and during our marriage. After April of 2014, I will have paid that entire amount off! Close to $46,000 paid off by April!

I am proud of myself for sticking with my budgeting and watching every penny between paychecks. I still check what's in my bank account every morning when I wake up, and that has given me a sense of control and ultimately freedom which I haven't felt in a very long time.

I feel like I've really grown up.

47/318: Another Sad Sunday

I don't mean to be depressing, but being broke isn't pretty.

I feel better now at 8:19 am, but when I awoke around 6:00 I had that familiar sinking feeling. Payday was two days ago Friday, but I feel crappy that I still don't have enough.

Yesterday my dad helped me plop down some money to buy a certified used car. But while I can check "buying a reliable car" off of my list of things to do, I was hoping to have my older car sold by now.

When I am able to sell my old car, I'll have enough money to cover this month's student loan, my son's daycare for the month, and this month's HELOC, a byproduct of my marriage with Larry.

On the bright side, I recently did something new. I scheduled two credit card payments online for the due date or earlier. All of my biweekly payments are listed on my smartphone, so while I check my account every morning, I also check off on my phone which payments have been scheduled and which have gone through my account. I love my new budget and payment system! That in and of itself makes me feel a bit more in control. 

My goal today is to remain positive, be cheerful around my family, and keep on keeping on. I will make it this month...I always do.

40/325: Change

I looked out my living room window this Sunday morning, and saw my neighbors across the street loading a pickup truck. Their younger son was moving out. He had just graduated from high school and would be the last of their kids to leave home. Their older daughter recently graduated from college, got married, and had her first baby all within this last year.

Wow, that is one heaping pile of change! I can't imagine being a parent expected to navigate that much coming and going of my kids, but I know that my time will come.

For me, change comes in the shape of better financial decision making. Since I began this blog, I've turned a corner on making my financial situation a bit better:

1. I now check my checking account balance every day
2. I pay all of my bills early or on time
3. I have looked at all three of my credit reports
4. I now know my credit score and have examined ways to improve it this year
5. I have become more comfortable saying "no" to expenses that can wait
6. I've actively researched affordable, yet reliable preowned cars
7. I have taken up a part time job to help fill in the cash gaps that come
8. I've taken active steps to begin an emergency fund
9. I've become more honest with my family and friends about my financial limitations without being needy
10. I feel hopeful and in control of my finances

Change can be good.