Cash is down.
Debt is down.
Investments are up.
Home value is up.
According to Trulia today, my home value is 179k right now! I hope that is true, but I am skeptical. If it were true, I wouldn't be upside down very much (factoring in selling costs, still a bit upside down). But Redfin and Zillow are both up, too. So, the trend is exciting. Once again, I am using the average of the three values in my NW statement.
Archive for September, 2013
Cash is down.
Today being payday, I did a wallet sweep when I went to do my banking, and deposited $4. It has already been transferred to the mortgage.
That makes 4 little chips for September, for a grand total of $15.12.
In the next week or two, I will have to wipe out CurveBall and dip into Vacation to pay for my security cameras.
My next check from my part-time job will be going to CurveBall, as I begin re-building it yet again. I have billed $200 for the work I did in September.
Beginning in October, my automatic transfer into CurveBall will be $400 (from $375). This was made possible by the cut to my cash allowance (also bumping up Simple IRA contributions a bit with the same cut).
I did much better this past pay period with my cash. I started with $20, paid $15 for a haircut including tip, and had $4 left for the mortgage.
I've been daydreaming lately, looking at nice little condos in various locations online. I've been calculating the size of my nest egg under different scenarios. The more I contemplate my situation, the more I think that the biggest obstacle to my dreams is my negative home equity.
I've decided to increase my Simple IRA contributions to $250 per month, which is 3k per year. My employer's contribution will be another 1.5k. Together, that is approximately 9% of my annual gross (my gross including overtime and bonus).
I will continue my automatic monthly Roth contribution of $150 per month (1.8k per year), which is a bit more than 3% of my annual gross.
If I were to continue along at that rate until age 65, and assuming I enjoy 5% annual growth, I would end up with enough to live comfortably (though frugally) in my little condo, even with a small mortgage. If I enjoy a return greater than 5%, the picture only gets brighter.
So for now, that is all I will contribute. When I receive my annual overtime, tax season bonus, and Christmas bonus, none of it will go to retirement savings. Instead, I will focus on cash savings and my mortgage. I want to be in a position where I can sell my house whenever I decide the time seems right (without touching retirement savings). I have a long, long way to go to be in that position. So, wish me luck.
I have also recently decided to trim my cash allowance from $60 per pay period to $20. Too much of that money was being spent grabbing a sandwich or a latte. It wasn't good for my bottom line or my waistline. So, I have gotten back in the habit of keeping lunch foods at work.
I received $1.50 from Hausernet yesterday, and have already turned it into a mortgage chip.
My daughter and son-in-law are going to be featured on Mr. Money Mustache!
My daughter started reading Mr. Money Mustache a few months ago, and she and SIL decided to make some big changes. She e-mailed MMM just to let him know, he responded and asked if she would be interested in being "interviewed" for a new feature on his blog, "Mustachian 180s". They have exchanged a few emails since.
No word yet on when exactly it will appear.
Isn't that cool? I know there are some MMM fans here on Saving Advice.
Tonight while I was clicking through my Inbox Dollars emails, I came across an offer for an NFL rewards Visa. The Visa card is offering a $100 bonus if you spend $500 in the first 3 months, plus 1% cash back on purchases (so $105). There is no annual fee. The card is issued by Barclays.
In addition, if you apply through the Inbox Dollars link, Inbox Dollars will pay you $15.
I plan to collect my $120, then cancel the card.
I received $6 from PineCone and have already applied it to my mortgage. I find it so handy to have my mortgage and checking account at the same bank.
Also, I have decided to bump my mortgage payment up by $10 each month. I have already changed my automatic transfer.
Not as exciting as the snowflakes some of you have been accumulating lately, but I am happy to collect whatever flakes the wind blows my way.
I decided not to file the restraining order. This decision upset my mother, and I think she may rescind her offer to pay for the security cameras. If so, that is how it goes. I love her just the same.