Thursday, February 16, 2012

It's the money, stupid! How's it going?

In Parts I and II I discussed the "mess" and how I'm trying to turn it around before I have to live on off-brand cat food in retirement. I'm now in my second pay period of making the turn-around. Here's the update on how I'm doing:

The Good:

  1. Again checked my bank balance on payday, but haven't got the pay stub printed yet.
  2. Made a list of my bills to be paid out of this check and paid them ON TIME and most are up-to-date.
  3. Continued using my spending chart to keep track of where it all goes. I am on-track to have a complete picture of my spending on the last day of this month! That's HUGE!
The Bad and the Ugly:

  1. Forgot one automatic payment and incurred $33 fee for a bounced check and ate up my savings paying the bill. Still, it's called an "Emergency Fund" for a reason. Bill has now been added to the list and, for the time being, removed from auto pay.
  2. Didn't get to add money from coupons to savings due to bounced check, but have kept a tally.
  3. My planned "found money" had to cover gas due to the bounced check.
The Plan:

  1. One big help has been FINALLY having a debit card for my flex account. No more tapping savings to go to the doctor in an emergency and no more waiting for reimbursement checks to arrive.
  2. For March 1 (just in time for my "maturing" 50th birthday on which I will become wise and make all great money decisions....hahahahah) I will have a realistic budget based on February's spending.
  3. Need to file my taxes this week to have the money for B's car in April. Wish I could add that $ to retirement, but there is no public transportation and nowhere to walk to where we live and so I am giving her a used car so she can have transportation to a job, activities, etc.
  4. Have to shop for driving school & insurance for B.
  5. My goal is to replace the savings I lost + what I planned to put in to be back to my intended February savings total + "extra."


Susan said...

Go you! I hope you'll be in for a big refund and that you can find a car within your budget. I like these posts!

Hopewell said...

Thanks, it helps to "put it all out there" even if it's too much information. It keeps me accountable.

My brother's best friend is a mechanic so we'll find her something to drive. She knows it's a "one time" deal.

Anonymous said...

Good for you! You have inspired me and my husband and I are trying to get ourselves more organized financially; especially for the future. Your post on your 'retirement' plans were especially motivating.


Hopewell said...

Thank you! We who are in this boat together need to encourage each other!

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