February Budget Update

Meh.  I haven’t been keeping up with the budget at all this month, or this year.

Now that we use my husband’s rewards credit card for most purchases, the budget has been thrown out the window.

I need to devise a new plan, a new spreadsheet, to track what we’re spending in both our checking account and on the credit card so we can pay that amount off as we go!

Screw my usual grading scale because this month deserves a big, FAT F!

Fixed/Expected Expenses (Rent, Netflix, Utilities)  – Yada yada yada…these are the same every month or I get advance notice what our bill for the month will be.

Gas – Spent $95 on $100 gas budget.

Car Stuff –  $55 for routine maintenance, to patch a tire (had a nail in it), and to fix our cigarette lighter port.  I budget $15 each month for maintenance/repairs and most months we don’t use any of it.  I’m thinking I should either open another checking account solely for that budgeted $15 or just take cash out every month for a maintenance/repair envelope.

Prescriptions – New prescription is being filled at Rite Aid, no more Express Scripts for prescriptions that aren’t free!  Still within budget.

Medical Bills/Co-Payments – Spent $47 of the $90 budgeted.

Groceries – $575 out of $300 budget.  Holy guacamole!  Yeah, that’s for a whole bunch of crappy processed food.  While I’m slowly trying to change my habits to healthier eating, hubby’s all about convenience…but at what cost?!

Dining Out – Budgeted $25, spent $57.  No excuses.

Energy Drinks/Navy Cash – Spent $191 of budgeted $100.  Le sigh.

Slush Funds, Electronics and Games – My husband spent almost $400 on games alone this month!

Pet Expenses – Budget met.

Splurges & Miscellaneous Expenses – A trip to Home Depot and Walmart have us well over our $25 budget for Miscellaneous expenses.

How did you do overall on your budgeting this month?

Debt Options

I’ve been taking a number of options into consideration lately regarding my debt.

STUDENT LOANS

I’ve been toying with the idea of taking out a personal loan to use to pay off one or some of my private student loans.  I was recently sent some junk snail mail saying I was automatically approved for a personal loan of up to $25,000 with a 6.99% interest rate.  It made me wonder what kind of loan amount/rate I could get with my credit union.  I have pretty good credit but will my puny, part-time freelance income be enough to get approved without a co-signer?  Could I ever consolidate my private student loans without a co-signer?  Will Sallie Mae ever approve my co-signer release form?  Something tells me my debt-to-income ratio is far too expanse.  

Source: George Grinsted

I saw this CNN article this morning that says some banks are now offering refinancing private student loans. This is definitely worth looking in to.  As it stands, my private loan interest rates range from 8.25%-9.75%. Even halving those rates would be nice!

CREDIT CARDS

I have had a US Bank credit card for several years that does not offer any rewards and has an APR of 16.99%.

I keep getting invitations from my credit union to sign up for a new credit card that offers a 0% introductory rate for a year on balance transfers, 9.49%-18% after that (depending on credit), no annual fee, 10,000 bonus points and various types of rewards (cash, gift cards, air fare).  I have just under a $1,150 balance on my US Bank credit card.  I don’t even use my US Bank cc anymore.  A year of no interest to pay it off sounds tempting.  It’s kind of funny that this offer is for the same credit card my husband recently acquired, without any incentives.

Have you ever done a balance transfer?  Does it hurt your credit?

I’ll be making a trip to my credit union soon just to see what they have to offer but I remain skeptical that I’ll see any relief with my private loans.  If the new credit card has a car rental insurance clause to it like my US Bank card, I may just do the balance transfer.

Weekly Review

Welcome to the first installment of my Weekly Review!  I’ll regularly be summarizing my week with updates, personal goals/thoughts, and some of my favorite posts from other bloggers.  I also want to start sharing some of my art.

As you may know, I racked up my student loans by going to a for-profit school majoring in Media Arts & Animation.  Upon learning the amount of debt I was in, I considered it the biggest mistake of my life.  The weight of my student loans completely wiped out any passion I had for art.  I felt like a failure and that feeling resurfaced every time I approached a medium.  Regaining my passion has been a long process, and I’m still slowly progressing.  I figure if I make it part of a weekly blog schedule, I’ll be more inclined to spend the time to make something worth showing my readers.

So, without further ado…

UPDATES

You may have noticed my blog URL is now mydebtperception.com!  I probably would have waited on purchasing a domain for another month or so but I stumbled on a GoDaddy special that was too good to pass up.   You might notice a few changes here and there over the next week.  Nothing major, just trying to make everything more functional.

HEALTH & FITNESS

I spent a great deal of time meal planning this week.  I went shopping for healthy food but failed to spend the day preparing snacks and separating portions for crock pot meals.  Out of the 4 days since I got the food, I’ve only made one thing on my plan…and I skimped on a bunch of the ingredients because I didn’t want to chop them up.  Old habits die hard!  WIP!

I did try out an adult gymnastics class on Friday evening.  I probably should have transitioned into it by working out at home for a few weeks before I dove in; I’m so out of shape.  I was feeling the burn in my legs after running the third lap around the floor during warm-ups!  I’m still so sore and it takes a lot of effort to get moving.  It’s great exercise though and my ultimate goal is to cross a kip off my 30 Before 30 list!  I can’t wait to go back next week!

The only downside to this class is that it’s $22 per class (the first was free).  When did fitness-type classes get so expensive?!  I’ll probably only go to this class every other week starting in March.  Getting a kip will require a lot of muscle strength/conditioning and these are things I can do for free at home or at the base gym for free.

THE ART PART

I’ve mostly been playing around in Photoshop.  I was inspired by this Pin and used a photo of my best friend’s husband and baby to create this.  They loved it.  It will probably happen again.

joshAaron

I also came up with a potential logo for Debt Perception.  You can check out the rough version on Twitter.

THIS WEEK’S FAVORITES

Dear Debt – I’m Going to FinCon!  So happy for Melanie!

Our Freaking Budget – Weekend Recap:  Zion National Park  I’ve always wanted to go there, so pretty!

Red Debted Stepchild Eating My Financial Words Erin fesses up to past flawed financial views.

Club Thrifty Why a Four Hour Workday is Better Than Early Retirement Holly makes a great point here!

Do you know anyone who would pay to have a photo face-swapped?  What’s the most you would pay for it?

GoDaddy Special

Hello my readers!  Quick update.

I apologize for not being very active on my blog these past few weeks.  I’m working on a schedule for my posts and will hopefully start implementing that next week!

I just bought a domain for my blog for about $3 with GoDaddy’s special!  Am I ever glad I waited it out for a great deal!  Thank you all for participating in my poll!  Mydebtperception won by a resounding 53.85%!

Now pardon me while I get this set up!

14 Month Progress Update

My update is a little late this month.  I’m finally recovered from my first ever experience with food poisoning (or possibly gastroenteritis), which was no fun at all.  I blame being sick for a poor month of progress.

Original Debt (December 14, 2012): $102,645

Current Debt (14 months later): $96,710

My debt has decreased by a whopping $82 since last month, meh.  An overall reduction of $5,935 in 14 months.  I’m now at 5.78% of my debt payoff goal.

DEBT BREAKDOWN

Federal Student Loans $57,627 $57,756 (up $129 since last month, an overall $1,856 increase over 14 months)

Private Student Loans $37,953 $37,821 (down $132 since last month, an overall decrease of $2,800 in 14 months)

  • StudentLoan#1: $5,967 $5,812 (down $155 since last month, an overall decrease of $1348 in the past 14 months)
  • StudentLoan#2: $10,714 $10,723 (up $9 since last month, an overall decrease of $477 in 14 months)
  • StudentLoan#3: $17,425 $17,439 (up $14 since last month, an overall decrease of $801 in 14 months)
  • StudentLoan#4: $3,847 $3,848 (up $1 since last month, an overall decrease of $173 in 14 months)

US Bank Credit Card $1,212 $1,133 (down $79 since last month, down $3,524 in 14 months)

Inspired by Bre’s recent discovery about capitalized interest, I went over my 2013 Sallie Mae payments and calculated the amount that went towards principal/interest.

I paid a grand total of $5,983 towards my loans in 2013.  Over 60% of that, or $3603, went towards interest alone;  39.8%, or $2380, was applied to the principal.

Not cool.  Not cool at all.  On the bright side, I’m past the point of paying interest on interest for StudentLoan#1.  I can’t wait to pay that off and really get cranking on the others.  No more sickness, k winter?

Food Poisoning

I think I’ve experienced my first bout with food poisoning this week.  I’m telling you, it’s no fun!

I’ll spare you all the juicy details.  Just know that this year, as far as being sick goes, SUCKS!  Stomach problems, cold, another cold, and now food poisoning.

Bear with me folks!  I promise to plan and schedule my blog posts better once I’m fully recovered!

Domain Poll

It’s about time I bought Debt Perception a domain!

As you may have read previously, debtperception.com is available for a whopping $18,500 and is clearly not the domain for me!  I’m a bit indecisive about choosing a domain and greatly value reader input!  I really like Debt Perception but am open to completely new options so if you have any other suggestions, please feel free to share!  Some other ideas I’ve come up with are Debt Perspective, Debt Err or completely rehashing my old blog, Sisu Vitality.

Thank you for your input!

Wishful Wednesday

Many of you may have watched the Super Bowl over the weekend (I didn’t) but did you know that the wishes of 13 kids were also granted?

Image Source: Make-A-Wish America

The drum set used by the Red Hot Chili Peppers during the halftime show is up for auction to benefit the Make-A-Wish foundation.

Image Source: NFL.com, Pearl, Benefits Make-A-Wish

They also have a duplicate drum set and drum sticks available for auction.  Pricey, but worth it to benefit Make-A-Wish if you can afford it!

CURRENTLY WISHING FOR

I’m currently wishing for good news this evening that may allow me to scratch off one item from my 30 Before 30 list within the next 30 days.  I’m also wishing for Spring.  I’m so over cold weather.

What are you currently wishing for?

January Sucked

Budgeting in January was a total bust.  I didn’t even try.  I spent a lot of time off my computer glued to my phone this past month and who wants to update spreadsheets from a phone?  Can you even do that?

My income was low due to being sick for what felt like forever (and not wanting to share it with everyone). First there were stomach problems then I had a cold for over two weeks, was miserable, and can’t be more thrilled to be over it!

On the topic of being sick…would you willingly participate in a clinical trial to get infected with the H1N1 virus if it paid $3000?  I’m probably not considered healthy enough to participate but it’s tempting.

Then the video card on my computer went out and I visited Wisconsin for a week.  I was offline for 10 days and I have 197 unread blog posts in my Bloglovin feed.  Ouch.

WISCONSIN TRIP

Mother Nature didn’t want to cooperate with my travel plans to visit my family.  I guess it likes to snow, A LOT, when I fly.  A 55 minute layover in Philadelphia turned into 31 hours.

snowplane

When I landed in Philadelphia it had just started snowing.  After 30 minutes had passed, I knew my flight would be delayed.  After an hour passed and there was more than an inch of snow already on the ground, I figured it would likely be cancelled like many of the other flights.  Instead, they just kept delaying it every 30 minutes.  The boarding area was cold.  Every time they opened the door to unload passengers or let other flights board, the cold air came inside.  At one point they had us board the plane only to send us get right back out just as the last person boarding sat down.  When they finally cancelled the flight, I had to wait in a long-ass line to get on a new flight to Milwaukee the next day.

Unlike others, I didn’t have to spend the night in the airport.  I went to the USO and got the last of the female dorm beds.  They had an article framed from 2010 when over 100 people stayed at the USO during a snow storm.  They ended up getting about 70 people the night I stayed there.  Even though the USO has a generous amount of chairs, couches and recliners, there were people sleeping on the floors and in the hallways.  Philly ended up getting 13.5 inches of snow!

My flight the next day was cancelled, changed, and delayed.  They had us board only to tell us we had to wait for must-fly passengers.  We spent an hour on the plane before taking off.  Somehow my checked bag got to Milwaukee before me and the guy in the US Airways office (don’t ever fly Express!) showed me a list attached to my bag that showed the delays, cancellations and more delays; It was long.

I got to spend time with my nieces in Wisconsin.  My youngest niece, who turned 5 while I was visiting, is obsessed with animals.  She talks about them, she draws them and she acts like them.  Only dogs with spots talk and below is her rendition of a dog eating a hot dog.

mouthdog

Scary dog, with the head of a Dune sandworm?

I wanted to take my nieces sledding but it was too cold.  My older niece was off school for two days due to the subzero temperatures.  It was fricken cold!

On my last night there my eldest niece was in a car accident with her friend and her friend’s mom.  The car actually flipped over in the ditch and I’m surprised they all walked away practically unharmed.

More snow was expected in Norfolk on the day I was scheduled to return.  I thought I would get stuck in Philadelphia again but I made it back to Virginia just as the snow storm was starting.  We ended up getting about 6 inches of snow.

SNOWComing from Wisconsin, it’s interesting to see how an area that usually doesn’t get this much snow deals with it (or doesn’t).  Everything closed for two days.  Most of the roads weren’t cleared or plowed.  I was shocked to see my apartment complex somehow managed to get a snow blower to clear the sidewalks.  And it was funny to see people use brooms as shovels and to clean off their cars. Hubby ended up getting two days off from work and it’s supposed to be in the 50’s and 60’s this weekend.  Goodbye snow!

Now that I’m home, I’m ready to put January behind me (not just because it’s February).  It’s time to get back into routines and accomplish my goals as if February was the start of my new year!  Lots to do!

BIRTHDAYS

Hubby’s birthday was earlier this month, his mother’s was yesterday, 2 cousins, lots of friends, my niece turned 5 and my brother’s birthday is today.

happybirthday

My niece’s birthday cake, she helped decorate. First time I wrote anything on a cake, not bad!

Happy 30th birthday to my brother!  I’m now the only sibling left in my 20’s and I’ve got 490 days until I’m 30.  Must get cranking on my 30 Before 30 list!