First, there is the Mortgage/Refi Business
We haven't paid our mortgage for May yet... but I still have the money set aside for it... It's technically due June 1st and late by June 15th... but the bank said that they are planning to close our new loan on June 3rd, the loan will most likely fund on Friday June 7th... so I should be able to see the new loan online by Wed the 12th at the latest... and if that's the case it looks like we may not have to cut them a check for May... or even June for that matter because our first mortgage would be due August 1st so we would pay for that in July. Which means technically I have $802.98... so we technically have a surplus of $705.62 after I take off our overage... which is also enough money to happily re-fill last months Roth IRA shortfall and cover the money we want to set aside for our next annual goal... but...
I'm worried that I may need to pay the mortgage after all... our loan may not close on time... and if we don't sign the papers on Monday, I'm paying the mortgage to be on the safe side. But here's where things get tricky. If I end up paying the mortgage, there's a chance we won't have to cut a $400 check for our escrow account for property taxes, because the amount we are short could then be rolled into the loan... possibly--- But on the other side, even if we don't pay the loan for May, we will need approximately $400 to fund the property tax escrow account (or $400 on top of the May mortgage payment).... but, 2 weeks after the loan closes, they will refund the money that's currently in my escrow account right now... Which kind of makes the $400 a wash in the end...
Second, its a three paycheck month
YUP folks, its a 3 paycheck month and that check comes with OVERTIME TOO. The check comes in today so it may in fact have enough money in overtime to cover the current months shortfall and bring us to even (minus the Roth shortfall from last month)... but I don't know because i'm writing this before it hits my account.
Normally I take $1,100 from the extra check i get 2 times a year and dump it into the roth ira... but with all the uncertainty with the mortgage, we are going to keep the money in our checking account in case we need it... and then try and refund the Roth after the refi... which could make our windfall even larger... like $1,800.00
Third, we broke down and did some shopping...
We kept track of everything and all the receipts, but we did some shopping and strayed from the budget this month. I had overtime and we spent it... We puppy sat over the weekend and spent it... and i'm not mad about it at all.
SCB lost some weight and needed to replace all of his shorts from last summer... and with his new job now, we may need to get him a few more new things... and while it doesn't show up in the budget since I got cash for my birthday from my mom and my aunt, I myself have been doing some serious wardrobe updates since i've lost that 15-20 lbs. Add in last minute grocery runs for SCB so he can pack a lunch for work and trying to fit into our new routine, its not surprising that we exceeded our eating out budget... and I let SCB order us 2 awesome backpacking packs so we can finally use to update our emergency kits.
Fourth, my birthday
Then there was some of the special carryover birthday spending that happened. SCB didn't realize he needed to do something special for my birthday on my birthday because we celebrated earlier in the week with my family... so the "i'm sorry" birthday tokens appeared... including wonderful cupcakes for the office from nothing bunt cakes.... Then later that week we went to disneyland and just hit the atm for $100 so we would have spending money.... and while we didn't spend all of it at disneyland, we spent some of it on Relay and odds and ends... which brings me to....
The HUGE project I've been working on... the Relay For Life fundraiser that I'm in charge of... that's already raised $97,000 for the American Cancer Society--- that i'm sure we will be spending more money at between food and prizes, and games... so....
All in all, things just aren't so final this month... In fact, they feel more fluid than ever because there just doesn't seem to have a cut off point. But I technically did keep track of all our spending... so here it is... just way skewed...
What we have spent this month
Car Insurance $520.34
Health Insurance: $178.00
Dr Bill: $8.00
Eating Out: $96.90
Mother's Day: $23.73
Cell Phones: $137.91
Clothes: SCG- $0.00
Clothes: SCB- $62.51
Other: $43.25 (Resume Copies, Plant Container, Relay for Life Fee, Craft embroider)
Camping Supplies: $113.38 two nice camping backpacks from Woot
Craft Yarn for Relay For Life: $93.24
What we spent money on in 2013:
- Church Giving: $1,872.00
- Groceries/Household Supplies: $1,072.56
- Wanda and Stitch (our '91 Ford Escort & '04 Toyota Camry):
- Gasoline: $697.01
- Car Registration: $189.00
- Car Insurance: $520.34
- Car Repairs: $109.20
- Date Night/ Eating Out: $388.26
- Cell Phones: $5691.72
- Internet: $152.74
- Electricity: $222.91
- HOA: $1,312.50
- Mortgage: $3,374.46
- Refinance: $447.00
- SCG: $91.74 (does not include my birthday shopping spree funded by my mom and aunt.)
- SCB: $129.31
- Heath Insurance Premiums: $712.00
- Prescriptions: $50.00
- Dr Bill: $8.00
- Valentines Day: $8.50
- Easter: $13.47
- Birthdays: 320.31
- Mother's Day: $23.73
- Expungement Fees: $292.81
- Tax preparation Fees: $56.98
- Computer Parts: $297.32
- Stamps, Toothbrush heads, Grill Hose $81.52
- Resume Copies, Plant Container, Craft embroider, Relay For Life Fee: $43.25
- Camping Backpacks (2): $113.38
- Yarn for Relay For Life: $93.24
- Disneyland: $115.00
June Budget...This probably won't be accurate, but its a best guess... especially at this point...
- Pay back May overage if there is one...
- Pay any out of pocket mortgage refinance costs without dipping into the Emergency Fund...
- Get Roth IRA Balance to $2,500.00 since we are 6 months into the year... Currently Need: $1,534.85
How am I going to do all that? With SCB's paychecks, holiday overtime, and hopefully my 3 paycheck from May once the mortgage refinance goes through. Our goal for June is to NOT inflate our life style with SCB's additional income coming in. We will just Tithe and Save it until all the above mess is balanced.... which is going to be REALLY hard to do... especially for him. Right now it looks like SCB will be stationed at
a local site nearby my work so we aren't sure how big of a gasoline budget we will have to expand our current budget by, so I've added some of that in and made estimates. We also might have to change his paycheck withholding to make sure they are pulling enough out for taxes too. For July we will have a better budget with retirement savings for both of us and better ear marks for savings.
- Giving $142.00
- Mortgage (P&I, Property taxes, MIP): $802.98
- Fast Offering: $10.00
- Groceries & Food: $250.00
- Prescriptions & Doctors visits: $50.00
- Date Night: $50.00
- Birthday savings: $50.00
- Discretionary/Clothes/Things: $50.00
- Savings/Surplus: $22.90
$1424.00 paycheck two SCG
- Giving: $142.00
- HOA: $262.50
- Insurance (2 Autos, earthquake, homeowners) $129.00
- Utility Bills (2 Cell Phones, Electricity, Internet): $230.00
- Gasoline/Auto: $200.00
- Christmas: $50.00
- Kaiser: $178.00
- Roth IRA: $236.38
Estimate $160 paycheck one SCB (not a full week of work, training)
- Church giving: $16.00
- Savings: $144
Estimate $250 paycheck two SCB (again, not a full week of work due to Relay)
- Church giving: $25.00
- Savings: $225.00
Estimate $320 paycheck three SCB (first full week)
- Church giving: $32.00
- Savings: $238.00
- Gasoline? $50.00
Estimate $320 paycheck four SCB (another full week)
- Church giving: $32.00
- Savings: $238.00
- Gasoline: $50.00
Remaining Financial Goals
- Make one extra Mortgage payment this year: ($162.66 / $650.64) 25%
- Put at least 15% of our income into retirement: 10.16% thus far
- Deferred Comp: $50
- Roth IRA: $965.15 / $5,000.00
- Pension: $791.06
- Save $500 for Sealing and Family coming to town in August. ($217.41 / $500.00) 43%
- Save $1,500.00?????? for dental work for SCB
- Save $1,000.00 for future car repairs and the start of a car replacement fund.
- Save $300 for a winter trip out to Utah to visit family.
Remaining Fun Annual Goals UpdatesWow! I've cleared through most of my *fun*annual goals already!
- DONE!!!! Find something new to crochet-- sweater, pattern, anything
- DONE!!!!! Sew something from scratch or re purpose something I was going to toss out into something I'd wear. You'll have to wait to see the post on this because i'm going to have to take in more clothes and do more work!
- DONE!!!! Cook or try to cook 6 new things or recipes
- Salmon! (I learned how to cook it in the oven)!
- Home made Pico Salsa
- Tomato and Cucumber Salad
- Broccoli Cakes
- Tri Tip Kabobs
- Cauliflower Cheese Sticks--- it was gross... we ended up eating pizza instead that night...
- DONE!!! Read / Enjoy 6 new books
- Sabriel by Garth Nix (audio book)
- Lirael by Garth Nix (audio book)
- Abhorsen by Garth Nix (audio book)
- Nothing to Loose by Lee Child (audio book)
- The Hard Way by Lee Child (audio book)
- The killing Floor by Lee Child (audio book)
- Die trying by Lee Child (audio book)
- DONE!!!!! Loose weight (or just get the scale to 148 lbs and stay there or under)
- The scale is at 146 WOOT-- and that's fully clothed on my work scale at the gym. Now i'm going to see if I can get down to 145 lbs by the end of June.
- Change my last credit card to my married name
- DONE!!!! Grow a garden with my neighbor
- For any early birthday present, SCB let me get a tomato plant, 3 strawberry plants, and 4 bell pepper plants! The strawberries are sooooo Yummy!
- DONE!!!!! Complete a half marathon in 3 hours and 30 minuets or less. DONE
- Finished in 2 hours, 41 minutes!