Archive | January 2017

January 2017: Credit Card Float

I participated in an Uber Frugal Month Challenge this month, but my normal spending is so low, it made little difference. Actually I had a lot of nonrecurring expenses and my spending was, for me, wildly high.

In fact, according to YNAB, I am now entirely out of money and then some. I don’t mean that I spent more than I made. I mean I spent more than I have.

I only know this because YNAB told me. See, I still have lots of money in my checking account. I just don’t have enough to simultaneously pay all my credit cards down to 0. I am reasonably optimistic that I will be able to pay them by the end of the month; if not, I will carry a balance on my lowest-rate card.

What happened? Well, I paid off my lawyer. They sent a bill for $4400. I said, “Didn’t you say there was a discount if I paid in full?” They said, “Do you have three thousand? We take Visa and Mastercard.” I could carry that bill on my MasterCard for a long time before the eleven-point-something-percent interest would come anywhere near the $1400 discount, but I do not expect to carry it long at all.

My car also cost me more than usual this month. Read on for the full breakdown.

Income

FSA reimbursement: $240

Wages: $1224.92 (Low because of not picking up extra hours around the holidays)

Support: $748.87

Interest: 78¢

Cash gift: $20

Trivia earnings: $70

Money I raided from my HSA: $1203.91 (I submitted medical bills that I had long since paid out of pocket to access funds to pay my lawyer with)

Total income: $3508.48

Expenses

Rent and included utilities: $1070.77

Laundry: $40

XCel (electric): $25.41

Ting: $26.75

Internet: $9.95

ATM fees: $6.99 (reimbursed by my credit union next month)

Legal bill, blog hosting, a few other things: $3048.50

Groceries: $360.85 (OUCH! But includes $55 Costco renewal.)

Auto maintenance: $96.87 (I now own a charger capable of starting a car without another car. Y’know, in case your kids leave the dome light on and your battery runs dead and you are blocked in by other cars and have to walk to AutoZone in the snow to buy something to solve this problem.)

Gas: $44.15

Annual vehicle tax/registration: $145.64

Parking: $1

Boys’ allowance: $5.46 (I appear to have shorted them)

Boys’ clothes: $12 (winter gloves for Big Brother)

Daycare: $247 (I had to buy a daycare package to use up FSA dollars)

Boys’ health and dental: $168.61 (still paying off Big Brother’s tongue)

Restaurants: $33.46 (includes 1 special occasion lunch and Big Brother’s birthday dinner at Chipotle)

Coffee shops and snacks: $27.19 (OK, OK, maybe not uber-frugal, but includes some lovely social outings)

Frippery: $18.45

Clothes for me: $67.51 (needed black pants to wear for subbing and a thing to keep my ears warm)

Kindle book not available at library: $3.22

Birthday presents for Big Brother: $30.99 (also used credit card points)

Used cell phone and accessories: $135.16 (Yes, I just repaired the old one, and it broke again, and sometimes that’s how it goes. Got a Galaxy S5 from Craigslist for $110.)

Travel: $136.62 (Includes ticket to Las Vegas for May and Lyft home from airport)

Total Spending: $5772.26

Shortfall: $2262.78

Analysis

Well, of course that sucks. No one likes to come up that short. But let’s look on the bright side: I was able to pay a three thousand dollar bill almost completely out of savings. Yes, I am now quite tapped out and have exhausted resources that I can’t use again this year (like my HSA), but how many people can’t cover that kind of bill at all? Because I had money from last month budgeted for the legal bill, the actual shortfall was $250.08. That’s how much more I spent than my liquid resources.

Other reasons for optimism: I have been working like a crazy woman this month, getting lots of library hours, and should get good paychecks in February. AND I have applied for a program (CICP, Colorado Indigent Care Program) that would reduce Big Brother’s hospital bill. I should qualify, so fingers crossed.

I’ve been reading this book The Unbanking of America: How the New Middle Class SurvivesWhile the point is to learn more about poverty and middle-class financial insecurity, I’m also finding that it makes me, well, feel pretty good about myself. Sometimes I have savings! I understand my bank account and never accrue fees! That already puts me way above average. Seems like I should be able to hang in there for a while longer.

How was your January?

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December 2016 Spending: All Hail the Third Paycheck

Well, I’m a little behind the eight-ball analyzing my spending. Took a while to recover from my Christmas trip home.

Let’s take a look.

Income

Support : $690.67

Interest: $.45

Library take-home pay: $2797.85!  Holy cow! That’s 3 paychecks plus a wellness bonus.

Substitute teaching take-home pay: $215.64

Trivia pay: $70

HSA reimbursement: $595.09

Christmas money: $550

Total money in: $4919.70

Expenses

Rent and co-billed utilities: $1050.97

Renter’s insurance (quarterly): $33.50

Xcel (electric): $22.31

Ting: $26.75

Internet: $19.90

Laundry: $35

Cell phone repair: $86.18 (Plus parts–see below. I, uh, smashed it, and also it needed new prongs in the part where you plug it in. Now my Galaxy S3 is running great again. Total repair cost was about a hundred.)

Groceries: $187.99 (Low because we traveled at the end of the month)

Auto maintenance: $274.15 (My #$@&%*!? windshield cracked. Also snow tire installation and a wash.)

Gas: $31.95

6-month Geico bill: $489.42 (I have full coverage for my “fancy” car)

Parking: $6

Miscellaneous kids: $29.92 (includes their allowances and a birthday party gift)

Kid clothes and shoes: $23.34

Childcare: $32

Kid health: $95.69 (Just the tip of the iceberg. This is a payment on a $547 chunk of bill and we got another from the hospital for $1500.)

Restaurants: $45.30

Coffee shops and snacks: $12.12

“Out” entertainment: $45 (Did one of things where you drink wine and paint)

Frippery: $59 (haircut and razor cartridges)

Adult clothes: $26.44

Christmas presents and general festivity: $355.02

Miscellaneous shopping: $19.87 (About $15 was a new battery and screen protector for my phone.)

Uber to airport: $29.92

Salvation Army kettle: $2

Cat food: $26.90

Total money out: $3066.66

Surplus: $1853.04

Analysis:

Well, it’s certainly nice to have money left over. But it seems to me that all the surplus came from extra money, so I still have a ways to go to be living comfortably within my means. January will be tight. I will have no subbing check at all (the sub paycheck runs from the middle of one month to the middle of the next, and winter break means I didn’t sub) and not all that extra money. I’ll have to hope I don’t have any “oopses” this month–if I can keep from smashing from cell phone, cracking my windshield, or letter either of my kids injure themselves, it might turn out okay.

I had intended to spend some of the Christmas money on “stuff.” But then I realized I was actually pretty close to being able to pay off my lawyer, so I just earmarked the entire overage for my “professional services” category in YNAB. I will liberate some more money from my HSA (by submitting receipts I already paid for) and set that aside for the bill as well. I have no emergency fund.

Bottom line: I got a little breathing room this month, but I’m going to be skating on thin ice until I get a full-time job.