Wednesday, August 19, 2015

3rd times the charm

My old old old Roth IRA is finally moving to vanguard...

I've been trying to do that for three years now and its finally done!

Now to work on our next issue....

Wills and Living Trusts....

 and choosing someone to take care of our son should something bad happen....

Any good tips?

Monday, August 17, 2015

How my first week went

Last Thursday was my first day back to work after over 4 months at home with our sweet little guy. I didn't cry, but oh man.

First, his sitter was sick and I had to find other arrangements just the day before. Thankfully one of my friends is a stay at home mom who used to work exclusively with infants for some high end daycare place.... so we paid her to watch him for the day. I got photo and video updates, he got a baby massage and did arts and crafts ( I'm now the proud owner of a baby clay footprint!)... So everything was going great until that evening.

Between working, driving home and picking him up, pumping, a quick 30 min at home workout DVD and a quick shower I maybe got to hold him for 15 mins because I had to start my evening pump and SCB had to put him to bed... (Notice dinner wasn't even listed there, lol).

Not getting to hold him that much made the next day dropping him off with his real sitter so much harder... But the pictures she sent me on my pump breaks helped and that night after work I played with him while I pumped so hubs could get a shower and I could get more time with him.

Unfortunately, Saturday's are just going to stink. I don't get home till 7:30 at night and its too close to his bedtime to play....

Well figure out a system but I think Mondays will be my favorite day of the week because I'll get him all to myself.

Thursday, August 13, 2015

Purchased a breast pump

I love to play with the pump cable!
As most of you know, we have been renting a hospital grade pump for $43.70 a month and I go back to work this week... (actually I go back to work today)...

I did the math and it will cost us $349.60 to rent the pump to get to Eli's first birthday and we will have nothing to show for it because we are in fact renting a pump.

After doing some research on the pump I was renting (a medela symphony), I found out how I could check the amount of hours a pump has been used. The rental pump currently has around 1040 hours on it. This specific pump is a closed system pump (so its safe for multiple users) and is recommended for daily pumping... and get this, it doesn't need to be serviced until it hits 6,000 hours.

I didn't blog about it, but 2 months ago, SCB and I tried out a medela pump in style I had got second hand from a mom group on facebook (we used money from the cash box so I didn't record the spending on our blog, but we purchased it for $50). We replaced all the parts, disinfected the unit and I attempted to use it. While it was better than the free pump my insurance gave me, it wasn't allowing me to fully empty and it wasn't very comfortable to my sore "ladies" who had attempted to feed our little man directly and were a bit inflamed.... That's when I had a second lactation visit and got the hospital pump and saw and heard the difference from the wonderful machine, the medela symphony.

I hate renting though, even though I know I'm not throwing money away (cause I get milk to give my boy), I just don't like the idea of spending $350 and not having anything to show for it...

There were a few hospital pumps listed on E-bay for bids starting at $600 and a few had a "make an offer" option... so I tried offering $350 on a couple that had low hours but they were instantly denied... no harm no foul...

As I kept looking, I found one pump with 1700 hours on it listed for $479 from a medical supply company that also had a "make an offer" button... I typed in $350 (with free shipping) and after a day of waiting the offer was accepted. It comes next week on the 17th...  just in time for me to have my rental picked up before the 24th so I'm not billed for another month! Since its from a medical supply company, it even comes with a limited warranty.

So for $0.40 more I will own an amazing pump that I know how to use and actually like... and I should be able to sell it down the line if we don't have a second baby to recoup some of our costs... and if I last longer than a year pumping, well have saved some money!

We're taking this cash out of the profit share check to pay for it and i'll be trying to re-sell the pump I bought along with some other accessories I don't need (I have a ton of shields in different sizes because we couldn't figure out what worked best with my sore "ladies" early on.) but i feel much better lugging a paid for pump to and from work than a rental that would cost us $900 if we broke it.

Brand new, this pump is $1,200 - $1,500

Tuesday, August 11, 2015

Mortgage Update Aug 15

Principle paid down: $358.96
Interest: $311.00
Additional Principle: $1,723.17
New Balance: $98,815.10

The pay off date is July2032. March 2032.

We just knocked off almost 5 months (March is like a $20 payment) by paying extra this month!

This also brings us closer to our 5 year goal of moving and having $150,000 of equity when we sell. Right now if we assume our place is worth $220k and we pay 6% closing costs, well have $130,911.63 in 5 years. Only $19,088.37 to go and 59 months to do it!

Getting the Keys...

It took me $7,057.08 to get the keys to my condo and then I spent another $17,672.29 to remodel and repair it... In short, I was -$24,729.37 in the hole on day one...
  • In 2009 I got the First Time Home buyer's Credit giving us $8,000.00. I also got to write off some of the property tax I paid in addition to taking the standard deduction. This gave us an extra $90.10... but then I had to pay an Electrician $95.00 to fix an outlet... We also got a refund from my botched tile job that gave us another $1,265.00.
  • In 2010 I saved $1,087.00 on my federal taxes and $461.00 on my State taxes from itemizing my homeowners expenses. (This is what I received ABOVE what I would have gotten back with just the standard deduction).
  • In 2011 I spent $12.97 at home depot and $72.29 on a kitchen door. When we subtract those costs from what we saved by living in our condo instead of renting, we came out ahead $494.04 (See Mortgage Update + Condo Costs December '11 for that break down.) We also received a small $70 refund check from over paid closing costs. We didn't Itemize our taxes in 2011.
  • In 2012 we finished our Kitchen/Laundry door which cost us $103.24.. We also replaced both our glass slider doors which cost us $2,957.00... and repaired our dryer for $81.42....It ended up being $3,383.47 cheaper to OWN our condo than to rent an apartment on a monthly basis, (See Housing Costs 2012 for the break down) so even after we subtract the windows and other minor repairs, we still came out ahead $241.81 by owning our condo instead of renting...
  • In 2013 we got $52.53 back from challenging my property taxes in 2012. I also refinanced our condo, costing us $447.00 up front for our home appraisal... but we got a check back at closing for $747.20 and a check from my old escrow account for $489.74... We also got to skip a mortgage payment too! In addition, they automatically lowered my property tax value, giving us a check for $86.77.. and we saved $5,191.81 by NOT renting a place (see Housing Comps 2013)!! Additionally we ITEMIZED our taxes in 2013, saving $702.45 on a federal taxes and $503.74 on our State Taxes. (This is what we would have owed had we not had our property to write off).
  • In 2014 we did a few home repairs totaling $976.00... but even with those factored in, we still saved $3,119.04 living here instead of renting an apartment. We also saved an additional $377 by itemizing and writing off our property taxes and interests.
All of that "math" leaves us $2,292.14 in the hole. If we assume our home is worth at least what we paid for it ($120k), we have $21,184.90 in equity...

Leaving us a profit of $18,892.76 after 5 yrs & 10 months!

For 2015, we will again assume our monthly mortgage payments are going to be a wash since it's cheaper to OWN our home then to RENT an apartment. (Check out Housing Comps 2015 for how we figured that one out). So far in 2015 we spent $14,073.13 to live in our condo (including all the extra principal payments), instead of $13,904.00 to live in the apartment. This may be the first year we pay more for our condo than apartment, but I think by years end it will even out.
  • Mortgage: $11,6536.13 (P&I, property taxes, additional mortgage principle)
  • HOA: $2,420.00
 Currently we have a net loss of: $169.13

Friday, August 7, 2015

Still trying to roll over my Roth IRA

This is the third time i'm sending in paperwork...

First Capital One 360 wouldn't take it because my phone number was handwritten on the form...

Then Vanguard calls me to tell me they need a statement along with the paperwork...

Who would have thought it would take so much time and effort to move an account?

Lets hope the 3rd times the charm!

Wednesday, August 5, 2015

August Budget, sinking funds, and the snowball

SCB and I were able to sit down this month and discuss our "sinking" funds and what we would ultimately like to do with these. For those of you who arent familiar with sinking funds, its basically money you set aside to spend for something specific. Basically these accounts help keep murphy away and allow us to save for some known expenses so they don't come up as an emergency because they are planned for.

We generally have a few sinking funds that have no limits on them because they empty on their own throughout the year. Insurance, Christmas, car registration, clothing, and our birthday/gift funds are examples of these. We also don't limit our auto maintenance account since that's also our car replacement fund money. 

In the past we never discussed capping our sinking funds before, but after brainstorming ideas on how to free up money for operation pay down the mortgage, we decided to set some limits.

We decided that a nice $1,000.00 set aside for Roxy as her emergency fund was quite wise. We currently have $750 in her account. It will take us 5-6 months to get this to a grand, but we will probably always have a line item in the budget for Roxy and just take the leftovers and apply them elsewhere at months end once the account gets to its limit since this is where we budget her food, meds, and grooming.

We also decided we would cap our medical to $1,000 as well since we still have SCB on his work insurance and not kaiser. We have $960 in the account right now, but since I'm renting the hospital breast pump each month and its about $44 a month, we probably will continue to see this as a line item in the budget and just divert the extras once the account reaches the limit while I'm pumping.

Our vacation fund was a spot of disagreement for us. We have a around $1200 in the account and I wanted to propose caping it to $1,000.00 and transfering the overage to roxys account to help it get to its cap...., but SCB didn't want to cap it at all. He wanted to keep funding it so at the end of the great 5 year mortgage pay down, we would have enough money to go on a super nice vacation.... So we discussed how this expense works with our goals since we both get a budget vote and he suggested capping it at $2,000.00 instead... I toseed out $1500 as a compromise because a family trip to Utah conservatively costs us $300-$500 and if we were to go for a week, we wouldn't pay daycare, saving us $220 that we could use. That seemed to satisfy him so in a few months we can start diverting this money to the mortgage hopefully. 

All in all we now have a plan for these funds even if we won't see the benefits for a few months. Eventually this could mean an extra $150-$200 a month.

We also have been setting aside the extra money in our utility bills line item into a savings account to use for the more expensive summer months where we run the ac wall unit. We decided that a $300 buffer here is sufficient since we are generally only short $40 to $60 2-4 months during summer season and that amount will cover us.

Pocket money, cell phone and gas leftovers are saved and roll over so those won't be added to the snowball. We divert the extra gas money to our car repair fund, save the cell phone money for the minute cards and to replace chargers, cables and phones.

Everything else rolls into the snowball.

I go back to work this month so the daycare expense is moved up to our spending section.

August Budget: 

Regular Spending:
  • Mortgage (P&I, Property taxes)    $792.01
    • Extra Principle: $69.00
    • Last Months Leftovers: $880.00
    • Extra paycheck: $689.05
    • Overtime: $39.79 + $40.65
    • Interest from sinking funds: $4.68
  • Giving     $600
  • Fast Offering     $20.00 
  • Groceries: $315.64
  • Date Nights     $100.00  
  • Pocket Money for the month-     $80.00 ($40 each) 
  • Cell phone allowance     $45.00  
  • HOA     $325.00 
  • Utility Bills      $150.00 
  • Gasoline/Auto     $250.00  
  • Discretionary Spending     $100.00
  • Diapers and wipes: $118
  • SCB's Cell Phone: $30.00
  • Daycare: $880.00
Regular Savings:
  • Roxy Fund     $50.00
  • Prescriptions & Doctors visits     $50.00
  • Birthday savings     $50.00 
  • Insurance     $155.00
  • Christmas savings     $50.00 
  • Vacation Savings     $100.00 
  • Car Emergency Fund     $100.00 
  • Car Registration Fund     $25.00 
  • Clothes: $50.00

Monday, August 3, 2015

July '15 Spending

Another month down and another month of successful budgeting! It's kind of like riding a bike... once you start to do it again, it just starts to work again. We were able to not dip into our daycare money, save the overtime for our budget snowball and keep most of the categories in line with our budget. We did pull a few dollars from the profit share check to pay for hubs last 1 up box subscription... but he won't be renewing it when it comes up again.

After Eli's crazy rash, im so glad we kept Kaiser. 4 prescriptions and 2 office visits later and we would have been paying A LOT of money on the other insurance plan. 

We also sent a ton to the mortgage in July and we'll have a good August payment too since it was a 3 paycheck month for the hubby.


July 2015 Spending:

  • Tithe: $753.00
  • Housing:
    • Mortgage: $4,405.91
    • HOA: $325.00
  • Internet: $52.99
  • Cell Phones: $88.19
  • Electricity: $83.19
  • Groceries: $318.49
  • Cars:
    • Gasoline: $54.43
    • Carpooling: $10.54
  • Eating Out/date nights: $98.58
  • Medical
    • Dr. Visit: $30
    • Hospital Pump Rental: $43.70
    • Prescriptions + Vitamins: $49.19 
  • Baby: $118.00
  • Roxy: $14.50
    • Gifts:
      • Anniversary: $63.28
    • Pocket Money: $80 ($40 each)
    • OTHER
      • Toilet Parts: $20.36
      • Light Switch Plate: $3.97
      • Slow Cooker: $43.19
      • Computer Paper + Book: $ 6.21
      • Amazon: $29.41
      • 1 Up Box Renewal: $60.23

    2015 Spending
    • Tithe: $5,722.00
    • Electricity: $399.83
    • Internet: $338.26
    • Cell Phones: $500.11
    • Housing:
      • Mortgage: $9,137.95
      • HOA: $2,095.00
    • Groceries: $2,538.56
    • Automobiles:
      • Gasoline: $884.91
      • Car Repairs: $486.42
      • DMV Renewal: $99.00 
      • License Renewal Fees: $66.00
      • Insurance: $681.66
      • Carpooling: $24.19
    • Eating Out: $915.27
    • Fun Money: $560.00($40 each) 
    • Clothes- SCG: $400.68
    • Clothes- SCB: $344.51
    • Doctors/Hospitals/Etc
      • Baby Prep Classes: $100
      • 2 months of DHA meds: $54.65 
      • Shot at Walgreens for SCB: $19.70 
      • Food @ Hospital: $57.53
      • Hospital Photos: $44.16
      • Prescriptions: $119.89
      • Dr. Visit: $45.00
      • Hospital Pump Rental: $87.40
    • Baby:
      •  $214.43 (6 Nursing bras, Changing pad cover, diapers, wipes, bottles, petroleum jelly, gauze pads, stuffed animal, activity mat, onsies/clothes, bottle supplies.)
      • $180.74 Bottles, bottle supplies, nursing bras, bulk wipes, clothes, etc 
      • $118.00 (Diapers, Formula, Swaddles, etc).
    • Roxy:
      • Flea/Heart-worm meds: $258.92
      • Shots: $18.00
      • New Leash $23.10 + $14.44
      • Kibble and treats: $39.86
      • License: $27.00
      • Grooming: $14.50
    • Valentines Day: $116.66
    • Easter: $89.73
    • Gifts:
      • Squeeze Present: $50.36
      • Push Present: $113.95
      • Flower "Thank yous" for baby shower  $16.17
      • Birthdays: $226.95 
      • Father's Day: $40
      • Baby Shower: $41.50 
      • Anniversary: $63.28
    • Other:
      • House Items
        • New Keys for house, mailboxes and cars... plus key chains: $19.96
        • Office Organizing (File organizer, receipt holder, binder clips, pens, desk drawer containers): $25.05
        • Bar Soap, Batteries, Hygiene items, bed cover, toy hammock, silicone tray: $62.90
        • Wire hooks, Silicon muffin and ice cube trays: $25.63
        • Walmart odds and ends: $161.72
        • Kitchen Items (Silicone baking cups, spreaders, muffin pan, ice cube trays).$55.38
        •  Pens/Spatula: $3.08
        • Organizer bins: $36.57
        • Home Depot (Fix changing table): $23.41
        • Church Cannery: $62.50
        • Corner Shelves for Eli's Room $13.55
      • Computers/Tech/Video Games
        •  Light Switch: $27.71
        • Video Games: $52.60
        • Additional lights for the computer desk $118.96
        • Epic computer case of all computer cases. $204.24
        • New office chair, Camera and memory card, thermometer, and canned air. $287.16
      • Fitness
        • Fit Bit Covers and WiiU fit meter: $32.74
        •  Dietbet: $115.77
      • Vending Machines and soda during baby classes: $17.32
      • Soda Overages: $32.91
      • Tax Prep $61.98
      • CED lights for my moms house: $10.40
      • Car charger for pump, pony toy, and lego bag: $25.88
      • WiiU Controler cable: $25.92
      • Radio Shack (parts to convert swing to wall power) $49.11
      • Toys for my husband; Lego sets, ponies, etc. $98.84
      • Road Runner store membership -- $24.99
      • Hospital Prep Items. $167.01
      • Hair Cuts $66.00
      • DVD: $8.62
      • Photo Shoot Pictures: $150.00
      • Movie Tickets: $18.35
      • Shutterfly: $199.88
      • Canvas Pictures: $209.47
      • Screws: $4.52
      • Toilet Parts: $20.36
      • Light Switch Plate: $3.97
      • Slow Cooker: $43.19
      • Computer Paper + Book: $ 6.21
      • Amazon: $29.41
      • 1 Up Box Renewal: $60.23