Wednesday, January 4, 2012

Wednesday, Okay I did it!

     I finally balanced the studio checkbook and I set the budget.  I have goals for the new year but I am only going to set a budget for the month.  Each month has challenges or extra bills.  Next month I will have at least a $350.00 accountant bill and a personal gift I give every year of $500.00.   So it is hard to say this is my budget every month.  But needless to say I am BROKE!

     I paid the water bill today! $467.12.  I paid my Roth Ira $500.00, Studio savings $500.00, Studio loan $500.00, Pay roll $712.00.  See the money flow.  I have decided to fully fund a savings account for the studio up to $6000.00.  I will also fund my personal Roth Ira.  Hubby already pays a huge amount to retirement and we also save well over 10% of his gross, so I feel that this is all we can do for savings until I can pay off the debt.

So New Years financial goals
1. Fully fund studio savings for summer $6000.00
2. Pay off Credit card minimum $500.00 and all left over or snowflake money
3. Pay off truck loan by the end of June, now pay minimum of $500.00
4. Always pay Roth Ira by the 5th
5. Pay off car loan by next Christmas

     If I can do this we will be debt free except for our house.  If I don't do this we will be closer.  Remember less stress.  I am making progress. It doesn't do me any good to pay huge amounts to a credit card and then turn around and use an over draft protection to cover 1/2 the house payment and then scramble and take on a lot of extra work to pay off the overdraft.  How about making a reasonably large payment and then not using the overdraft at all?  I am so tired of playing catch up.  But I set up these unrealistic goals for myself and then crash.  Well no more.  Okay I will always be over the top on most everything I do, but the financial stuff is killing me and I am done.

     I have to keep telling myself, just for today I am fine.  The specialists office called today and I had an infection show up in my labs last week.  So now we know why I was feverish and cold.  I picked up an antibiotic today and they also upped an injection I take to 1ml.  Much larger and I am dreading it as it makes me so sick.  But I am off the enbril and my x-rays came back with significant erosion from 18 months ago.  My insurance company is fighting the new medication because of the cost.  But I know they will cave as Hubby works for the State and we will go to a congressman if we have to.  I also have the final bills on Hubbies surgery.  Total $471.00.  Which I will pay on the 10th.

     Tomorrow morning I am going into my personal Credit Union and doing some book work.  I serve on a check up committee to oversee policy.  It will take me about 3 hours to do the books.   I am living for Friday because I am so tired.  This week has been long.  But I feel much better now that I have my budget set for the month.  My bills are well underway to being paid and I will be interested to see just how much I can put toward the CC this month.  But I am not going to stress and be stupid.

     Have you ever over paid things to feel that you are making progress only to slide backwards even farther?  Has anyone ever set goals that were unattainable?



  1. {{Kim}}
    I hope the antibiotics make you feel MUCH better! You really do more than that average person...give yourself a bit of a break! :)!

    Glad you were able to get your budget into place...that will alleviate stress just from *not knowing*...

    Have I ever over paid to feel that I was making progress? Well, I would have to say my mortgage...we switched to a 15 year and pay an extra $700 a month. It's really, really tight, but the progress I'm making is so much better than a 30 year...however it leaves me with $700 less for other goals...

  2. I am guilty of the "overpay then backslide" cycle. I see an "extra" $ that towards something, then realize I need gas for the car, food, etc.

    I am proud of really seem to be balancing things much better.

  3. Yes and yes. I've overpaid on things that actually slingshot me a few steps back from where I even started. I am a lot careful about that now. I have also set goals that I KNOW I wont be meeting, and I have no idea why I do that. I guess I like to have a big list that I can succeed on some and miss on some. It's like giving myself a "feel free to fail" card. I know, I'm weird.

  4. I guess everyone has overpaid something and left themselves short at some time in their life.
    Even is you are still making progress that way, it can be demoralizing to the spirit.

    While being aggressive with your debt is GOOD, being too aggressive with your money is not.
    Just stop panicking when you have 'extra' cash for a minute and reacting to it and throwing it into debt. Take a breath or two and wait until all the dust settles and you can see ahead to why you need that 'extra' cash for something on up ahead in the road.
    A fully funded ER sounds like a great place to throw that 'extra' cash. A way to get it out of your "I have to do something with this money NOW" hands into a "let it sit for awhile until we see clearly where it needs to journey to" way station.

    But then again, I am NOT a financial advisor nor do I play one on the