Sallie Mae Pay off Tips I used

Tips in paying off Sallie Mae sooner:

1. Key is to make multiple payments each month. EDIT!! Please make sure the minimum due gets there before the due date. No use in making multiple payments if they don't get there on time.

2. If paying by check or money order please write specific instructions with your payment. "apply to principal only" or "principal only payment" etc. Anything that would let them know the extra payment is to be used to pay down your balance immediately, and not applied to a future payment. See #3

3. Keep an eye on your due date. Sallie Mae will sometimes move your due date months into the future when you start making extra payments. Please call and have this corrected. At the same time continue to send in extra payments. Check your payment history to make sure the principal vs interest breakdown is correct.

4. Please remember a due date months into the future isn't your friend. Make a payment each and every month or bi-weekly until your balance is 0.

5. I used to send my multiple payments a day apart. A $200 payment would be sent $100 today, and $100 the next day. Why? Just a preference. Both payments usually got applied same day, with the second payment going entirely to principal.

These are the things I did. They worked for me. Applying laser focus to Sallie Mae was key in getting rid of her. I sacrificed savings in 2011 in order to achieve this pay off goal.

Was it worth it? Hell Yes!!!

My Sallie Mae student loan..........

The total amount owed is $0.00

I'm proud to say I finally got that monkey off my  back.


How did I do it?

I started out by paying bi-weekly instead of monthly.

Any extra cash I had went towards my payments.

Breaking Personal Finance News.....

I am less that $500 away from paying off my private student loan from Sallie Mae.

Whoop! whoop!

Once I pay off the balance I'll write a post on lessons learned, and how to pay off your Sallie Mae loan faster.

Updates....I'm back

My goal is to blog at least two days per week......let the games begin.

There are a few blog posts coming up this week.

I've consistently maintained a workout schedule for the past four weeks. This isn't a long time, but it's the longest I've maintained a consistent schedule of 4 days per week.

Now that my workout schedule is more natural, my next non financial goal is go blog more.

More posts coming.

My dream job has....

Tuition reimbursement.

Flexible scheduling.....including the opportunity to work from home.

Great pay.

Matching 401K

Benefits (health, employee assistance program, tax free transportation dollars etc)

Room for opportunity and growth.

Challenging environment.

This list will continue to grow.

Money well spent

The money I'm spending on the trainer is sooooooo worth it.

Money and Fitness

I've signed up to work with my trainer again. The package last for 6 months. The money for the trainer needs to come from another area of my cash flow, without messing with my Sallie Mae pay off flow.

Recently made a phonecall to Sallie Mae just to make sure she's doing right with my money.

I've Been Tagged

I've been tagged by BK over at The Fit Family Lounge and Debt Hater

7 Random things about me:

1. I have a fear of being trapped in an elevator.

2. Mango is my favorite fruit.

3. I've never worn a bikini. My goal is to wear one soon.

4. Exercise is easy. Changing my eating is hard. I love, love, love to eat.

5. Recently went to D.C for the first time.

6. I'm a makeup free girl. Truth is I have no clue what to do with it.

7. My fitness goal is to run a 5K.

Q & A


Favorite Color: Baby blue or grey. It depends on my mood.

Favorite Song: Don't have one.

Favorite Dessert: Red velvet cupcakes, Tres Leche cake.

Biggest Pet Peeve: liars and lazy people.

When you are upset: shut down and cry. This prevents me from punching someone or something.

Favorite Pet: not a pet person

Black or white: what???

Biggest Fear: Being mangled in a car accident

Best Feature: My chocolatey smooth skin

Everyday attitude: Am a moody gemini, so it varies

What is perfection: Me + the homie + the couch and a movie (quality time)

Guilty pleasure: food or otherwise??? That's an entire blogpost by itself.

No Thank You Chase

I bought my apt in 2009. The mortgage is a 30 year fixed at 5.00% APR. Today I received a call from Chase Bank asking me to come in to talk about my options. What options???? huh??? Bye?? Not interested. Refinancing isn't something I'm looking to do right now. My financial focus is Sallie Mae and my cc. More so, Sallie Mae. After that my focus will be maxing out my IRA and putting more into my pension.

Updates

Operation pay off Sallie Mae is still on target. The checks are going out on a weekly basis. I keep following up to make sure the payments are posted properly.

I've been exercising. Zumba, Jazzercise and West African dance. The great thing is these classes are not costing me too much out of pocket. Jazzercise was courtesy of BK over at The Fit Family Lounge.

My electric and gas bill is down by over 60%. Why the drastic drop you ask? Winter is over, my nieces are in Florida and the AC hasn't been on too often. Energy and dollars saving all around.

There are still a few projects to do around my apt: paint, buy more furniture, plants, flowers etc. These will be done in stages.

Updates

Operation pay off Sallie Mae is still going strong. I'm still sending money orders and double checking to make sure payments are posted properly.

I'm exercising more. This means taking more classes at different locations, and more $$. My new focus on my health has me feeling better.

It's a possibility that I may be unemployed soon. Praying this is not the case, in the mean time I'm job searching like crazy.

More Financial Updates

Sallie Mae is doing right with my payments. I have been sending my payments in via money order with 'apply to principal only' or 'principal payment' written on the money order and payment coupon. As of today, there's one more payment waiting to be applied. I'm keeping my eyes on Sallie Mae.

There's personal finance challenge on twitter. The challenge is to save at least 20% of your income for May. The hashtag is #pfchallenge. Singlema is in charge of the challenge. Yesterday I transferred my required 20% to savings. Feels real good.

My mortgage has been on auto pay since November. Smooth sailing so far.

My new cable bill is more in line with what I would like to pay. The gas and electric bill has also come down since Winter is gone. Keeping my variable expenses down during the warmer months will be critical to me paying off Sallie Mae by years end.

Getting Ready For Summer..........

means boot camp classes 3 days per week for the next 6 weeks.

Woooohooooo!!!!!!!

Financial Updates

Means eating healthier.....more fresh fruits and vegetables......this means more money.

I recently called Dish Network to downgrade my package. This means extra money in my pocket, which means extra money for Sallie Mae.

The price of gas in my area (NYC) is over $4 per gallon.

My office moved to a new location recently. This change in my schedule didn't fare well for my wallet. Starting next week I will do better. Less eating out at work and more brown bagging. Or in my case a cute little blue bagging in it. This is better for my waist line and my wallet.

Sallie Mae

My pimp, aka Sallie Mae has been applying my extra payments to principal. I don't trust her so I'll keep my eye on her until the balance is 0. That will be a day to celebrate.

Goal Change

I've decided that $6,000 emergency fund is enough. I will not add any more cash to my savings account for the rest of 2011. Why???? I am sick and tired of Sallie Mae. She has been on my back since sophomore year of college. That was quite a few years back. The monthly statement emails are annoying as heck. I don't like being annoyed.

My new focus will be to pay off Sallie Mae before the end of the year. This will require a payment of approximately $650 per month. Everyone else will be getting the minimum until I get rid of her. Sallie Mae is not my highest debt, it's not even the debt with the highest interest rate. However, it is the debt that bothers me the most. This decision is purely a psychological one. Financially it would make more sense to pay off one of the cc. Personal finance is just that 'personal'.

Behavior Changes

My emergency fund is currently at $6,000. The next goal will be $10,000.

Financial behavior:

Present: I am paying myself first.
Past: I paid bills first.

Present: I am paying down credit card bills without incurring new debt.
Past: Racked up credit card bills with no concrete plan to pay them off.

Present: I am no longer Bank of Family Incorporated.
Past: Always lent money, or helped family pay bills.

Present: Increase IRA contributions with each raise.
Past: Didn't have a proper retirment plan.

It's almost time to write up my 2nd quarter goals. My 1st quarter are halfway done.
I completed taxes, refund is on the way and I'll be able to open my CD.


2nd Quarter Goals (Subject to change)

1. Add $2,000 to my savings account

2. Pay off my Sallie Mae student loan (current balance $5,300)

3. Find a regular volunteer opportunity for me and the kids.

Random convo

Found out by random conversation that my homie has no credit card debt. Needless to say I won't be having the 'how much cc debt do you have' conversation with him anytime soon. My goal is to slowly bring my cc debt down to zero since that conversation is inevitable a few years from now.

Taxes

Last week I filed my taxes using Turbo Tax. The process wasn't as painful as I thought it would be. For the first time I was able to file head of household with two dependents. Yeahhh!!! for head of household status. I will be getting a pretty decent refund. My federal refund is slated to be deposited into my savings account in about a week. I look forward to just staring at it.

My plan is to buy a treadmill for me, and something for the girls off their wish list.

2011.........

is the year I get rid of my consumer debt. By the end of 2011 student loans and my mortgage will be the only debt I have.


Here's to being consumer debt free!!!!!!!!!!!!!!

Love my alerts from chase bank. They help to keep me up on my cash flow.

Next weekend is time to buy gifts for the people on my xmas list. This year I have my nieces, the homie, my nephew and one friend.

The job search front is still kinda slow, but am still trucking.

The auto debit of my mortgage is in it's 2nd month. No hiccups or problems so far.

Goals - To Do List - etc

My to do list is still incomplete.

My mortgage is not on auto pilot. The first payment went out on November 1. The next two bills for auto pilot are my Sallie Mae and federal student loans.

Spring of 2010 vacation will be St. Thomas V.I. Why St. Thomas? Because it is the cheapest option. All I need is a plane ticket, no hotel, no car rental, no extra expenses. Lodging will be provided by relatives. :D

I am currently job searching with the hopes of finding a job before the first quarter of 2011 ends.

This brings me to my 2011 goals.

1st quarter Goals January 1 to March 31, 2011

Complete taxes early enough to receive my refund.

Open a 6 month CD with a minimum $1,000.

Buy my plane ticket for my vacation.

Land a new job making at least a 15% increase in salary.

Paint my apartment and finish additional decorating ideas.

Financial Changes

A new gym membership which costs $10 per month with an annual fee of $29 starting October 2011.

Currently job searching in hopes of getting a minimum 15 - 20% raise.

I've been eating out lunch and breakfast almost everyday. For November my goal is to limit that to once or twice per week max. This is not good for my wallet or waist line.

Recently upgraded my Chase checking account. It now comes with perks such as free money orders, gift cards, a safe deposit box etc.

This will be my second winter in the new condo. I'm hoping to get a better handle on my electical and gas bill this year.

Decorating

My 2 bedroom condo looks a little bland. In the next few months I'll be doing some painting and other things to personalize it and make it my own. My budget is $1,500 and not a penny over. This includes the cost of supplies and labor (if I need to hired help). I am excited and looking forward to my first major decorating project.

Family Issues

Family is family. My family is dysfunctional. I am single with no kids of my own so everyone thinks I am Mrs. MoneyBags. My two nieces currently reside with me. This has caused quite a few headaches in the past few months. Non of these headaches have anything to do with the kids themselves. However, it is other family members who are giving me grief. Everyone as something to say about the kids. It all boils down to money. One of the main problems is that they assume I will get a hefty refund when I file my taxes. Guess we'll have to wait and see.

There's a family and money post that I need to write. However, I need to take the emotions out of it so I don't sound angry and bitter. Stay tuned.

To Do List

1. Write a will.

2. Get additional life insurance to supplement the basic policy provided by the job.

3. Put additional bills on auto pilot.

4. Research vacation options for next spring and start saving.

5. Look about disability coverage.

Updates

It's been quite a while since I updated my blog.
Here goes:
- I quit the part-time gig last week. The stress wasn't worth the paycheck. I need time to focus on my apartment, studying for GMAT, exercising etc.

- My family is something else. There's been lots of talk lately about my decision to buy my condo, how I take care of my nieces and just me in general. At this point I am sick and tired of the nonsense. Just let me live.

- Financially I still have a long ways to go, but I am doing ok. I still need to work on managing cash flow.

- It feels so great not having my car payment. My title came within 30 days like the bank said it would. Love it.

- Summer fun has been ongoing. Most of the events have been free such as concerts, basketballs games and movies.

Tips I use to avoid over draft fees.

Move to a cash system for miscellaneous purchases. I keep an excel and a paper register. However, I sometimes forget small purchases here or there. Switching to this new system is less work in recording all my transactions. This past weekend's trip to PA was cash only.

Keep a larger buffer in my checking account. Under my old system my checking account would sometimes go down to a few cents between paydays. This was rather stressful and time consuming to keep track of. The buffer is now approximately $50 depending on what's going on.

Being more organized and keep better records. Last year while on vacation I was charged a NSF fee. Why? I wasn't organized enough. Plain and simple. I now keep better records and make sure everything is in the register.

Updates

The kids and I are on a two day trip to Pennsylvania. Cash is king this weekend. It took money out the atm before leaving NYC. Once that money is over, it's a wrap.

Went to Walmart last night and spend $100. I have no clue what I bought.

I finally received my tax refund. I was able to pay off my car and one other bill. I also opened a CD. This has given me a lot of relief.

After an escrow analysis my mortgage went down by $1.25. Any drop in my fixed overhead is appreciated.

I've done most of my school shopping for the girls. Target had a great sale on school supplies. I still have a few more things to get. This year is way better than last.

Home ownership chronicles

Since moving into my new apt in December:

In April my mortgage payments went down by $120. A tax abatement finally kicked in.

My electric and gas bill for this past month is over $100 less than what it was during winter. This is a win, win.

Am proud of my decision to buy my apartment. However, not everyone in my family feels the same way. I've moved in over 6 months now, and a certain family member who lives but 15 minutes away has yet to come by. I have mixed feelings about it, but can't say am surprised.

This blog and now twitter keeps me sane. I can say what I want without judgements, and if someone dares to judge I just delete they azz. LOL In real life it is not the same way. There's too much going on financially around me at times. Too many people asking for help in one way or another. Sometimes I vent on twitter, sometimes I just stay quiet. Am just happy to have the avenue to express myself when I feel like it.

Goals - July - September

I would like to loose 20 lbs by September 30th. This is absolutely achievable. I am setting the bar at 20 because I know life sometimes gets in the way and I've been pretty busy.

Financial and other personal goals:

Complete the goals set for 2nd quarter.

Automate more of my finances.

Make a final decision on when to quit the part-time gig.

Make a final decision on getting a second masters degree.

Devote more time to organizing my apartment and staying on top of my mail, chores, etc

My 2nd quarter goals were mostly based on receiving my tax refund. There's still time left in the quarter to salvage maybe 1 or 2 goals. I'll see what happens next payday.

Financial Updates

I closed my Wachovia bank account. This is all in an effort to make my financial life simpler. It's a process I started a while back but got distracted.

My refund was supposed to be direct deposited into my account by the end of May. The date came and went and no refund. Uncle Sam caused me to fail the $5K/5K challenge for singlema and RevancheGS. I am super competitive by nature, and failure isn't an option. I will be finishing this challenge. My goal was to save $5,000. However, because Uncle Sam held on to my cash, I was only able to save $1,000.

Speaking of Uncle Damn Sam. He held up my refund because he needed additional paperwork. Let's wait and see how long before I get MY money. I have a few financial goals to accomplish with my refund. I'll detail those plans when I have the money in my account.

Things I wish I a decade ago

As I turn 30, there are a few things I wish I knew a decade ago.



1. Credit card debt is not good. A credit card is a tool not to be abused. Don't carry a balance.



2. An emergency fund is a necessity.



3. 4 years of college will go by so fast. Use every opportunity. An unpaid internship is not a bad thing. Let no opportunity pass you by, it is not all about money.



4. Network, Network, Network. Those contacts will be invaluable in the future.

5. Don't stress about your undergraduate major. You may not even use it directly in future jobs. The world doesn't stop if your major isn't declared by sophomore year.

6. Men come and go. Period. The End.

I will add to this list as time goes by.

Summer....kids...Money

The school year is almost over. This means it's time to find something for the kids to do for the entire summer. So far I've come up with a reading program held at Fordham University. It is for 1 month, once per week at a whopping cost of $299. Seems a bit much, but I am strongly contemplating it for both kids for the latter part of the summer. For the beginning of the summer, I am still stumped. A co-worker suggested boys and girls club. I am going to figure this whole thing out before the end of the school year which is June 28th.

So if you are in the NYC area please drop some suggestions.

Financial Updates

Checking account problem
I recently had an oops! Forgot to enter a few things in my register and my checking account into the negative. Thank goodness I checked my account online and noticed before the day ended. I was able to transfer money in.

There are a few things I will be doing to make sure that doesn't happen again:

Keep a larger buffer of cash in my checking account. Apparently am not the most organized person and am cutting it close.

In addition to my paper check register am going to start using Excel to track my checking account.

Use my debit card less and use cash more. That way if I forget a purchase or two it doesn't turn into a huge problem for me.

Tax Refund, 5K challenge, Eating Heatlhy, Exercise, blah, blah

According to the IRS's website my tax refund should be here before the end of the month. This means I will be able to complete my goals for singlema and RevancheGS $5K/5K challenge. Savings to date total $1,000. In my quest to loose 7lbs this month for the challenge, I did 4 mins on the treadmill and 50 leg presses.

In my quest to drop ** lbs, LOL, I joined a local gym in my neighborhood. The cost of this gym is $35 per month. This $35 isn't an additional expense because am eating out less and using that money to pay for the gym.

Eating healthier also costs more. There are now weekly runs to the store to get fruits and vegetables. Am, also trying out new vegetables. Thanks to my tweeps for keeping me motivated. A few days ago I tried kale, it was ok. I'll be trying it again.

I now make smoothies when am in a hurry in the morning instead of buying breakfast. Healthier, tastier and cheaper.

The paycheck from the part-time varies each payday. This doesn't make too much of a difference because I've started saving $50 bi-weekly and using the rest to pay whatever bills are left over. This usually means the bills are paid in advance. Or I use that money for miscellaneous items. This week most of that cash went to buying Claritin, Claritin D, TheraFlu and other household items.

Recently I took a few weeks off from the part-time gig. This enabled me to live without that check for the first time in almost 3 years (yeah it's been that long). Those few week thought me to manage cash flow properly without dipping into savings. It also taught me to be super organized. The check from the part-time gig used to be my back up plan when I forgot to say pay the cell phone or cable bill.

The lesson I've learned is to be organized and manage my cash.

Let the automation begin. Vanguard is the first account that was set up. The auto withdrawals from my checking account begun last week. woot woot.

Financial updates....goals

The first quarter of this year found me trying to get a handle on my cash flow. So far I've done a decent job of it.
My gas and electric bill stayed almost consistent during those first 3 months, so I have a better idea of what next winter will be like. Moving into my new condo obviously came with some additional expenses. So far I haven't had to go further into debt to buy anything.

During this first quarter I managed to put away $1,000 into 2 separate 6 month CDs of $500 each.

The goal for next quarter: April - June

Pay off balance on my car $1995 balance

Pay off my small student loan balance of $575

Open a 6 month CD for $1,000

Save $500 for summer outing with the girls. I know it will cost us more than this for the entire summer but this is a start. That $500 will be on a debit card that will be used solely for our outings.

I am currently working on automating more of my finances. Stay tuned!!

Job...Money

I am working on updating my resume with the help of a friend. It's time to look for a new job. There are layoffs coming at work, it's not if just a matter of when. Management is looking into alternate sources of funding, but usually this just prolongs the inevitable.

In December I started putting aside a few dollars from the part-time gig. I checked the account today and I have $350, this is after U took a few weeks off and skipped a few paychecks.

Automatic savings directly from your check is the shiznit!!!! This was sooo easy. Now if only the day job would let me split up my paycheck. Mmmhhhmmmm gonna set up auto transfer from checking to savings instead of me having to do it. Am hooked.

Paying yourself first is easy, but paying yourself first with automatic savings is so easy even a cave man can do it. LOL

What blogging has done for me financially...

Gave me the opportunity to openly talk about money openly. I don't do that in real life.

Keeps me accountable.

Taught me to pay myself first. Or should I say I knew that before but blogging kept me honest.

I learn something new everyday from other bloggers.

Since I began blogging:
I've paid down a substantial amount of credit card debt, bought a condo, prioritize my bills properly, contribute more to my retirement account and above all......I got more peace of mind where my finances are concerned.

I am no longer living paycheck to paycheck.

Does anyone still use a check register?

I do.

Took a few weeks off from the part-time gig for personal reasons. I am happy to say I didn't suffer financially.

I am a slacker on my taxes, didn't get to them last week as planned. The goal is to send them out before Friday.

A family member called this evening to borrow money. No more lending money to anyone. NO NO and NO.

Updates

Almost done with my taxes, will be mailing them out on Monday.

Moved into my new place in December.

I owe less than $3,000 on my car. It will be good to get of a monthly drain on my cash flow.

One of my student loans has a $595 balance. I was going to pay it off a few weeks ago but I decided not too. It will have to wait until I get my refund.

I'm Back

Alot has taken placed since I last blogged back in November. Time to get back to blogging. This is like my financial diary so I need to keep it updated. Now that I have internet access at home again outside of my blackberry I will be blogging a few times per week.

2010

2009 was a better year than 2008. May the good run continue in 2010. I will continue to practice the things I've learned, and improve on the ones that are still lacking.

Random Rants

My neighbors are having a very loud thanksgiving dinner. I am giving them till 10 pm to shut the hell up.

I had to work today, there were lots of people out shopping on Thanksgiving.

Some people lie to damn much, just lie for no reason. Don't worry it will all come to light.

I love my family, but I don't love being around them. Is that a bad thing?

I was told I enjoy my own company too much. Does that make me anti-social.

If you baby's father is not paying child support, then take him to court. Do I look like the bank? I am working two jobs, maybe you should too.

I think it may be time to give up the part-time gig. I'm still thinking about it.

I'm still waiting on final approval on my new place.

Here are a few details:

It is two bedrooms instead of my current one.

No more stairs.

Washer and dryer inside....no more going to the laundromat.

Dishwasher.....nice

15 minutes off my commute.

Am back...updates

It's been a while since I've blogged. Life has been busy, busy, busy.

New Tires $320 - cash. It's sure feels good using those green backs.

My lease ends in a few weeks and I will not be renewing. I am working on moving as we speak. Details to follow.

I managed to save over 10K for the year. It feels soooo good. How did I do it? I saved all the money from the part-time gig. Also, I received 2 raises for the year, and I saved those also.

Recent Financial Updates

My car has to get new tires ASAP.

I have to move out of my current apartment within the next two to three months.

I just received a very nice raise.

The part-time gig is still around.

Finally managed to lower my cellphone bill.

Changes in banking are coming up soon.

WellsFargo is following Chase and Bank of America

New Retail Shopping Habits

Based on my own personal observations at the part-time gig, it will be very difficult for retailers to get consumers to pay full price again. I've seen countless customers disappointed when the clearance item does not have an additional discount. They balk at retail prices that have no promotional sales. Bad habits, or in this case good habits (saving) will be hard to break.

CNNMoney.com has an article on ways to cut spending by $500 per month.

Savings, savings, savings

I've been saving alot of money lately. It is for a specific goal. I will reveal more later.

Every thing is on the rise

The sales tax in NYC just went up.

The subway fare went up.

My health insurance payment went up.

My car needs tires.

My rent will go up 3 or 4% in November.

The only bright light is my salary goes up 4% this month, and even that doesn't cover the other increases.

All quiet on the financial front. I am still saving a little at a time.

Husbands to be on Bridezilla

Da hell they find these men from without backbones. Geeessshhhhh!!

These women have no class whatsoever.

Hours are definitely on the upswing at the part-time gig. I love it!!

RIP Walkter Cronkite

Your card declined...this means you are over the limit...

plain and simple. I have no other way of explaining it.

I am sick of customers asking me what decline means. Hello!! How do you not know the balance on a small store card with a $1,000 limit.

Gimme a break.

Due to recent family obligations (financially) I've had to make a few changes:
No more buying clothing or accessories or anything of the sorts until September.
I put my Netflix account on hold.
Eating out for lunch is down to maximum once per week.
Will try and keep all variable expenses to a minimum.
No more taking off Saturdays from the part-time gig unless it is a family emergency.

I need to build back up the money I spent from the Efund. Think minimum 2K

Being unorganized can cost you

I was gone for a week and didn't organize my finances like I should have. As a result I got hit with an NSF fee of $20. Oh well, I will chalk that up to a lesson learned the hard way. Now that am back the check book is balanced and all is well in the world again.

I am thankful for...

health

family

friends

my employment (1 full-time and 1 part-time)

a roof over my head, and food on the table

life in general.

I am thankful.

Capital One...

customer service sucks.

I cooked last night and took my lunch to work today. It tastes way better than the crap I buy and it is way cheaper.

Updates

Life is nice and slow. I am not too stressed.

Is the economy picking up? or is it getting worse? There is too much contradicting news right now. I know my economy has gotten a bit better, hours at the part-time gig are steady.

The price of gas keeps creeping up. outch!

Paying yourself first feels soooooo good. soooo good.

Follow me on Twitter

http://twitter.com/tiredofbeingbro

Money on TV!!

I am sitting here watching Bridezillas. This is would be hilarious if it wasn't so sad.

Picture this:
Brand new SUV $58,000

Credit card declined when buying gas: priceless!!

Nice way to start a marriage. Miss bratty bride maxes out her credit card without telling her soon to be husband. Wow!! Starting a marriage in debt in secrecy.

Experian sent me a letter indicating that the balance in question was paid off over a year ago. The letter is great, but hellooooo I need you to update my damn records. I will be following up with them in about 30 days.

Credit Report

I pulled my credit report this week to review for errors. Lo and behold damn Experian still has a balance on a credit card that I paid over a year ago. They are the only one still reporting that card with a balance. The other two agencies has the balance as 0. I disputed the debt and am waiting on a response from Experian.

It is really important to take advantage of the free reports.

Random Thoughts

I don't worry as much about money as I used to. Why? I've finally realized worrying doesn't help, except to give me heart burn. I am learning and making better financial decisions. Does this mean everything is perfect? No, far from it. There is still a long ways to go. However, small steps are getting me there.

My credit card debt is disappearing nicely. It will be a small celebration when it finally reaches $0 by year's end.

There is money in the checking account from week to week.

My eating out has gotten worse in the past few weeks because of family related stress. I haven't been cooking. That has got to improve this weekend, so I have lunch for next week.

My car has over 30K on it and I need the recommended service package for 30K. The estimate is $450. I will be calling a few other places to get prices on it. However, I'm not worried. It will be done next pay day. Saying that feels soooo good.

I've been spending more time talking to the man upstairs!!

Hours at the part-time gig are up, then down, but back up again.

It's Pay Day

Pay day used to bring a certain amount of dread and stress to my life. This is how it used to be:

Look at direct deposit (knowing all well all the money is gone and then some).
Look at number of bills needing to be paid
Pay bills and have no money left by next day (except for cash waiting for bills to clear).

This is what pay day looks like now:

Look at direct deposit
Transfer money into savings
Pay bills (less envelopes in the mail box now)
Checking account cushion of at least $25

Change is good! slow and steady wins the race.

ING Savings Account

The APR is now 1.5%. Oh how times have changed.

I am quite certain that I will be credit card debt free before the end of 2009.

Insurance Premiums Vent

It seems as if every year my health insurance premium goes up. However, every year less and less services and prescriptions are covered.

What to do with the part-time check...updates

Hours at the part-time job has suddenly picked up. This means that my paycheck will go back to its pre 2009 amount. However, for the last few months I've learnt how to adjust without it. So I will be using that amount to get rid of my debt now that my savings goal has been achieved.

My 6 month car insurance premium is due today. I will be paying it all at once, and I didn't even panic. This blog has really helped to improve my finances. I'd like to think all my readers, all 2 or 3 of you. LOL

My savings goal of $5,000 is almost 50/50 in CD's and a regular savings account at the credit union. Using CD's was a critical tool in achieving my savings goal. The threat of loosing the interest before the CD matures was enough for me to keep it there. This may not work for some people but it sure works for me. As for the money in the regular savings account, I like seeing the comma (,) so I won't be touching that either. For someone who is just now leaving the check to check crowd and joining the savings crowd, a comma is a huge thing.

I achieved my savings goal

Now to focus on getting rid of the my debt balance even faster!!! Go meee!!

April 11th taxes E-filed

This is a step up from last year. Next year I'll aim to complete my taxes before the month of April. Baby steps!

Living Expenses - Efund

The basic breakdown of my living expenses adds up to $2,067.66. This does not include any debt repayment except for my student loans which are a total of $200 per month. This breakdown means that I can survive for almost 1.5 months on my current savings. This is good progress. This breakdown could be even less with disconnecting the cable and taking away some features from the cell phone plan.

Savings

I am very close to having $3,000 in the bank. That would be the most I've saved in the past maybe 4 years. Saving is really a habit that has to be developed. I am proof of that.

Slow and Steady wins the savings race.

The Economy is Slowly Rebounding...

in my neck of the woods. Sloooowwwwlllyyyy is the key word here. My hours at the part-time gig went up in the last two weeks. That is my economic indicator. LOL Let's hope this is a continuing trend. I received my highest paycheck since 2009 began. That is a good sign.

Family, Friends and Money

The people around me think I have money to freely give because I have a second gig, aka the part-time job. Helloooooo, I am not out there working a second job to be Ms. Banker. They get on my last nerve.

Updates

Hours at the part-time gig increased in the last two weeks. I am hoping this will be a consistent trend.

I got a raise this week which resulted in a small increase in pay. I am thankful to have a job, and to get an increase. Any increase no matter how small is appreciated and goes a long way.

Eating..Cooking...Money..Etc

Lately I've been cooking more. The key in not getting into a rut is trying new recipes. My new thing is to pick two recipes for the week and purchase my ingredients that week. I will cook twice that week which is usually a serving of five or more (am single). The left overs I freeze until next time. The recipe for tonight was my version of jambalaya. Next up later this week is soup. Not a particular type of soup, but whatever ingredients is in the kitchen type of soup. As long as it is well seasoned there is no problem.

I do not like to cook at all. My new method makes it easier on me, and I actually look forward to trying new recipes. Whole Foods Market has great recipes on their website. Those are the ones I've been using as well as a mix from about.com food section.

In my quest to eat healthier (organic, more whole grains, raw, blah blah blah) grocery shopping is a bit more expensive. However, because I am eating out less when it comes to lunch, my overall food bill is pretty much the same.

My Financial Psyche...Plans etc

The DOW dropped even lower. Now, I am not an expert but can this thing drop any lower??

I am not even sure what is left in my old 403B anymore. I am still contributing to my pension at the current job.

The game plan right now is to continue pay down debt and save as much as I can. I've had to adjust my plans because the income from the part-time gig is almost non existent. However, I am still on track to bring the e-fund to the full goal before June 30, 2009.

My brown bagging is now at almost 100%. I eat out at work maybe once per week. In driving on the weekends I run all my errands in one trip as much as I can.

The small adjustments I've been making has helped me cope with the decrease in income.

Hours at the part-time gig are almost non existent.

I am still doing ok financially. Funny, how quickly we adapt to new financial circumstances.

The Stimulus Package Debate

What are your thoughts?

I've been following this a little too closely. Too many experts too many predictions.

Home-buyer tax credit is it $7,500 or $15,000 or now $8,000.

Will it create jobs or save jobs? Will the states get much needed aide.

I think we should all just wait until the final version is passed. Whether you agree with increased government spending or tax cuts it doesn't matter. The media is going crazy trying to provide information too consumers, but I think right now we are on information overkill. At least I am.

I will not click on anymore news article about the stimulus bill until it is signed into law by President Obama.

My 2 cents.

Updates

Wamu was bought out by Chase recently. As a Wamu customer the only change I've noticed so far is one branch close to my job that is closing by the end of the month.

I added a few dollars to my savings accounts. I am now at almost half of my $5,000 goal.

For the past few months I've been paying all my bills and using my debit card only. No credit cards whatsoever. This is the longest period of time in my adult life that I've gone without using a cc. It feels wonderful.

The price of gas has creeped back up to $2.03 in my area.

The recession has hit me hard

Paycheck from the part-time job is down about 70%. I am still hanging in there till the spring to see if it improves.

I am coping by eating breakfast and lunch at home, driving less and forgoing non essential purchases.

Shares of J Crew up 10%

I need to start a clothing line and have the Obamas wear something. Interestingly enough the J Crew website is having hiccups. I went on there tonight out of curiosity (not buying anything).

Debt Collection Now a WITCH Hunt

NY DailyNews has an article about what I would call new debt collection practices.

The Tax Man Cometh!!!

I did a tax refund estimator on HR Block today, and it's not looking good.

Tomorrow I will be making adjustments at both jobs to make sure this is not repeated next year.

Updates

The e-fund bar has been updated to reflect my 2009 savings goal.

A raise of 4% is right around the corner somewhere.

I am silently praying that Uncle Sam and his bastard child NY State have mercy on me next year.

Paying in cash feels good, walking around with change doesn't.

I am tired of hearing about the Black Friday 2 phenomenon, a.k.a the day after Christmas sale. I have no money to spend anyways, so it does not matter. ( Is it really a phenomenon if it is just made up media hype?)

Gas is now $1.84 per gallon in my area.

Looking around my apartment I realize that I started to accumulate 'stuff'. I will now have to really assess each purchase.