4 posts tagged “finance”

Well, sort of.  Since I'll be eligible to re-consolidate/re-sell my $90,000 worth of government-backed loans to Direct Loans in July of this year (and then enter into the Income Based Repayment/Public Interest Loan Forgiveness Program), I decided to forbear on my Sallie Mae owned loans that are currently serviced by XPress Loan Servicing.  I figured since I'll have almost $150,000 (which accounts for the interest on the principal) forgiven after 10 years (the 10 years starting in July), I may as well take a break from paying and put my normal monthly payments of $1070 to my credit card debt.  This way, I'll have a substantial amount of the credit cards paid off by the time July rolls around and with the Income Based Repayment Plan, my $1070 monthly payments will be reduced to approximately $700. 

As much as I hate President Bush, I would give him a big wet smackaroo for signing this bill into law.  It is going to make such a huge difference in my life.  Although I wish the law were retroactive (considering that I have 8 years of public service under my belt already), I'll take what I can get.  Of course, we'll see if the loan forgiveness ends up being taxable at the end (probably will).

Last night I finally got a response for a part-time waitressing job.  I hope I get an interview.  I responded to a craigslist post for a new restaurant that's opening right near my apartment.  How awesome would that be?  She responded by email and asked for my phone number.  Cross your fingers.

On Saturday my night court duty went smoothly.  I actually only ended up working 9-12, but will get the entire $175 check.  Wahoo!

So, $500 will go to Washington Mutual Credit Card tommorrow.  $14 to Discover for the backpack I bought.  $200 to MBNA for the balance transfer.  I get a little obsessive/stressed about my cash flow because I'm always worried about bouncing my student loan payment.  At least for the next few months I can keep throwing $ at the credit cards and not worry about that.  So far, I've paid $5,777 towards my credit card debt.  I can't tell you how AWESOME that feels.

Yesterday I went up for Fosters because I needed a mat for my kitchen sink (I don't have a dishwasher).  What a cool store.  I purposely only brought $40 with me and left my debit card at home.  It's amazing how different a shopping experience is when you only have cash to pay for things.  I know that if I had had a credit card, I would have spent a lot more money.  But I'm very happy with what I bought - a sink mat, a good scrubber, a eurosponge (I'm trying to cut down on my paper towel use and this brand promises to last through 17 rolls - we'll see!), a neat container in the shape of an onion to hold onions to keep them fresh and so that they don't stink up the fridge (I couldn't resist it was so cute and only $3.50), and a scrubbie that ended up being a total waste of money because it ripped apart after only one use.  I usually get my sponges at the dollar store, but was getting tired of the fact that they rip apart so easily.  Oh well.

Today I have off for President's Day.  The day will be spent cleaning.  Serious cleaning.  Like baseboards being wiped down, appliances being moved, etc. 

I know I've said this before, but I can't tell you how fantastic all of this feels.  It's like the rest of my life (except for the love part) is starting to come together.  Just from the simply act of getting control over my finances.  I've gotten more organized, have learned to cook some really great dishes, have more energy, and less headaches (although maybe that's attributable to the new medication). 

Things are coming together.

I've worked my budget so that I have aalmost $800 a month to pay towards my credit cards.  Now, that's some serious frugal living.  How awesoime will it be when I have $800 extra dollars a month to just put into savings?!?!?!?!!!!  Anyway, I'm now paying off my Washington Mutual (evil people) card.  Hopefully that will be completely gone in another 2 months.

So far, the cat has been put on lower quality food.  It bothered me at first, but them I reminded myself that our family cat lived almost 19 years on Friskies and she was just fine.  The dog, however, is still eating the $1.79 cans of Merrick.  But I am switching to making my own dog biscuits/treats, which are ridiculously easy.  Chicken livers/giblets are only .79 at the supermarket.  So I just cook them up or add some flour and bake them and he gobbles them up.  I'm still going to splurge every now and then for a Flossie, though.

I can't begin to tell you how much $ I've saved by bringing my lunch and not buying Starbucks.  It's a strange feeling to go through an entire day and not spend any money.  It's quite easy to do.  I'm sure millions of people have been living financially responsible for years and this is no suprise to them.  But to me, it's all still new.

I'm still selling on eBay (check out my stuff I'm girlandadog).  Right now I'm pretty much just trying to sell off all of my books.  Over the weekend my father gave me some old books to sell to see if I could get anything for them.  My parents have been inspired by my leaf turnover and are beginning to "downsize" themselves.  My father must have 1,000 books (and he's actually read them all).  All hardback.  I'm pricing some of the antique/rare books, but so far I don't think I'm going to get much for them unless I start the auctions at .01, which is always kind of risky for something that is actually worth something.

Still selling my clothes at a nearby consignment shop as well, although that really doesn't make any money.  I've basically been using whatever cash I get as my weekly cash (which I'm actually not spending, but it's cash on hand in case I need it).

The only major expense I've had is a medical expense - I finally had my appointment at the headache clinic, which had an out of pocket uninsurable cost of $400.  I'm okay with it, because the headaches have gotten really serious.  The neurosurgeon feels that I may have an avm.  Best case scenario is that one of the major nerves leading to the brain is inflamed/pinched.  I have an MRA scheduled this week.  In the meatime, he gave me a nerve block (needle inserted into my brain stem area, FUN), which didn't really help that much.  Hopefully it won't be the worst case scenario, which would mean I'd have to go out on disability for awhile and only get 60% of my pay.

I'm worried, but I'm more relieved that I finally found a doctor who took me seriously and didn't just brush me off saying that my "migraines have changed." 

Purchases made today:  1 coffee

But I deserved it!  Seriously.  Yesterday one of the attorneys in my office (who also happens to be one of my closest friends) mother went into the hospital.  Very serious.  She had a trial today that I offered to cover. 

I haven't had a trial trial (like a real trial) in....3 years now?  Those dumb Megan's Law hearings don't count to me.  Nothing like meeting your client the morning of trial.  It was a drug case, an excellent case for the defendant as there really wasn't much tying hiim to the evidence. 

Which STRESSED me out.  It's no big deal when you think/know your client is guilty.  But when you think they aren't, or you think you should win....that is stress.  Combined with feeling kind of rusty in a courtroom, my nerves were a little frayed.  Plus, I only have one suit that fits me right now and I was worried that it, too, would end up being a little too tight.

So after a late night of preparation and a sleepless night of toss and turns, the case ended up being continued anyway because the Judge was out sick.

Go figure.

But after all that, hell, I needed a cup of coffee.  Better than a beer, right?

Now, the old me probably would have headed over to a little boutique and bought a shirt or some other little present for myself.  That's my problem.  Emotional spending. 

The thought to do that never even occurred to me today.  Now that's progress!

Last week I happened to stumble upon this fantastic financial application, Mint.  I entered all of my data, and BAM - my debt:income ratio was right there. 

BAM.  Indeed.

I knew I was in debt from my student loans ($150,000).  I had a vague (emphasis on the "vague") idea of how much I owed on credit cards.  I guessed it was about $7,000.  I knew that I was an impulsive (and sometimes even compulsive) shopper.  More on that later.

I am 33 years old.  I have nothing left saved for retirement (more on that later, not entirely  my fault).  I am earning about $3000 a month as a public interest attorney.  My student loan payments are not $1050 a month.  I am on a 30 year repayment plan.

I do not own a car, I do now own a house.

I originally started this blog because of a bad break-up from a toxic relationship.  My motto was "the only way out is through."  My New Year's Resolution is to get out of debt.  I have cut up all of my credit cards except for 2 (which I have handed over to my parents to keep) and my debit/credit card, which is now in the freezer.  I have contacted my credit card companies for better interest rates.  My student loans were already consolidated and refinanced.  I have applied for a part-time job.

Today I downgraded my cable and opened up an ING checking account because of the great interest rate (I already have a savings there, of course there's no money in it).  BTW, if anyone is interested in opening up an ING account PLEASE email me - if I refer you I get $25.

So enough blogging about my poor choice in men (well, not entirely).  The blogging about my new debt-free life has begun.