Well, my 1 year and 1 week anniversary since I've moved to California!

Wow time does fly.

What have I accomplished in that one year span? Plenty.

I landed myself a full-time permanent position. I am no longer a temp, yay! My savings really took a hit over the year for not having work from Oct 08-Nov-08 and then have to take a leave of absent in April-June after my dad past away to go back to Virginia to help my family out. I've been back in the full swing of thing work wise since the beginning of July and has able to slowly but surely build my savings back up again.

I consolidated my student loan of $12800 from a variable rate to a fixed rate of around 3% and having a monthly payment of $97 from my previous $160. I could afford the $160 from before, and so with that I am still throwing $160 at my loan to pay it down faster. And as far as the rest of my debt, I have none. Yup, that is right I have none. The little credit card debt that I did accumulate from not working in April-June I was able to pay off when I started working again.

Also since last year I have created 4 new savings categories. Well more like the envelope system. It's really working out for me and I'm able to see exactly where all my money is going.

Categories
Dad Fund - I am setting aside $20-25 each paycheck (I get paid once a week) to donate a charity/organization in memory of my dad. I will be actually cutting the check on the anniversary of his death in April. So far, I have set aside $160.

B-day/Gift Fund - where I can set aside maybe $10-15 each week so that I'm not using my Credit card to pay for Christmas or Birthday gifts. $50 so far

Travel Fund - where I can set aside money for my airfares and just basically saving up future vacations about $100 so far.

Cell Phone Fund - this is not really a savings more like the balance should equal zero each month. I calculate how my paychecks I have before my cell phone bill is due (it's the same each month for the most part) and just divide it by the amount. This way I don't have to worry about having to come up with the money on my last paycheck before the bill is due.

But a quick overview of the financials. (rough estimates because I don't have my spreadsheet on this desktop)

Savings #1 - $9000 (definitely took a hit)
Savings #2 - $2900 (this one doubled since last year since it's the savings account attached to my checking account)
Savings #3 - $500 (ouch too)

Roth IRA - this year I've only contributed $500 so far for 2009. Trying to get this up as much as I can before its time to start contributing for 2010.

Student loan $12,700.
Credit Card - $0.00


So yeah that's pretty much sums up my 1 year in California. I'm excited to finally be back into the full swing of savings, budgeting and of course dreaming.

I'm going to try to update and blog more often. So until next time!

Okay so I'm back to blogging again.

I get so caught up with other things I just forget to log-on once in awhile and update. Man, the summer has gone by super fast.

So since the last time I blogged, I turned 24. Hmm, I got a new assignment/contract. Not any better than the previous one. My previous assignment may want to take me back and hire me on permanent. I'm working on that as we speak.

Hmm... back to saving again still not quite back to where I want to be but at least I'm saving even if it's only $50 a week.

Also, I consolidated my student loans. I now have a fixed rate of 3.... something. It's in grace period until 9/21. So I'm trying to throw some money at it right now because everything I pay towards it goes straight to principal. And then once it's off grace again it will start accruing interest. So the entire loan is like $12890.

And I know previously I said that I was going to do a charity of some sort and I had originally picked the animal shelter, but I had a change of heart. Not that I don't care about the animals, because I do but I've decided to go with one in honor of my dad. The National Aphasia Association. My dad had a stroke back in 2001 and as a result of his stroke he had aphasia. So I've decided to set aside $20 each paycheck (I'm currently getting paid every week, so roughly $80/month) and on the 1 year anniversary of my dad's death (April 2010) I'm going to make a donation of what I had set aside. So far I have $105 set aside. I thought about doing it around Christmas time but I figure if I do it on his anniversary I can save up more money to donate.

But that's pretty much it, work and the small little projects that I'm working on on the side to keep myself busy.

I should update my stats soon. Maybe if I get a chance this weekend. But until then.

So just a quick blurb about my student loan.

The interest rate dropped again on it. It's around 2% now. The balance is $13,129. Will most like be under $13000 after tomorrow when the July payment gets taken from my account tomorrow. I have yet to consolidate my loans. I should look into that to see if I can lock in the low low rate at a fixed. Because right now it's variable and it's been fine not consolidating because the rate has been on a steady decline since I've started paying my loan off. I think my payment amount has also dropped. I'm not so sure about it yet but I think so according to the front page of my account when I log in. But, I'll have to wait to see how much they take out tomorrow to be sure. My required payment per month has also dropped steadily since I've started paying back November 2007. It started out at $198/mo, now if the new rate is right it's about $158/mo.

But I'm thinking, since the rate is so low that I should just throw more money at my loan to bring down the balance faster so that if the rate does go back up my balance will be a lot lower and save money on interest.

Just like I said in my last post. I was going to sit down and figure out how much I have and where I have my moolah.

Savings #1 10,199 ($50 increase)
Savings #2 1,411 ($151 increase)
Savings #3 580 ($205 increase)

Roth IRA: 1,600 ($50 increase)
Rollover IRA (frm. 401k): 1,089

Total Savings Increase since 12/23/08
$456

Debt:
Credit Card: $1,034 (A decrease of $161)
Student Loan: $14,248 (A decrease of $72)

Note: I did get $150 for Christmas money that I deposited into Savings #1. But the rest I saved all on my own by automatically transfering $75 to Savings #2, $25 to Savings #3 and #1. Every paycheck. Automatic savings of $125 each week. For now.

Today was my last day at the contract job. I have an interview on Monday. At least the one on Monday the contract should last until March. I'm keeping my fingers crossed that I do well at the interview. I'm going to studying up on the company and the position this weekend.


Oh and the nerve. So I'm doing the temp thing right now. And there were two other temps that I was working with. My recuriter told me to update my resume so she could send it off to new opportunities. So I did. She came back and said that my resume was really well written. She was impressed. And then she had the nerve to ask me if I would be willing to share my resume with the other two temps so they could fix their s. In normal situations I would be okay with sharing.But these are tough times. And frankily those two temps are also my competition. How dare she ask me to share something that makes me stand out of other applicants. I put a lot of effort into putting it together, in fact at one point I had to scrap the entire thing and start over. Maybe I'm being silly, it's just like asking me to show my term paper to someone else so they can get ideas after I had to come up with the original idea with no help and what if they get the better grade. Nope. no can do. They'll have to figure it out on their own. After I get a job I would be more than happy to share, lol.

Eh, I figured I might as well do it now or I'm never going to do it. My overdo update.

Ouch. Okay so now that I have a job for the time being I'm able to rebuild my savings.

So here it goes

Savings #1 10,149.00
Savings #2 1,260.00
Savings #3 380.00

IRA 1550.00
401k(which is now a Roll-over IRA from previous job) - 1089.00 (lost from that huge stock market plunge back in september)

CC debt 1,195.00 YIKES
Student Loan 14,320.00

so for the time being i get paid weekly.
My paycheck varies because of the amount of overtime that I work. But I'm automatically transferring $50 to Savings #1, $75 to Savings #2, $25 to Savings #3 every paycheck. The rest goes towards CC debt and other bill money. I know I could just pay off my Credit Card debt in one swoop. But since I'm only working contract I really want to keep my savings in tact just in case I don't have work once this contract ends.


Quick question. I don't know if anyone knows the answer to this. Since I moved to another state and is now working in another state. I have to file 2 tax returns right? Since I lived in Virginia for most of the year, I file Virginia first right? And then California?

Might as well post my July results.

Savings #1: 11,437(goal:15,000 ----76.25% to goal)
Savings #2: 923(goal:2,500 ----36.92%)
Savings #3: 559 (goal 2,000 ---- 27.95%)

Roth IRA: 1,550 (goal: max 2008 contribution)
401K: 1129
Brokerage Account: 155
Employee Stock: 420

Debt:
Credit Card: $0
Student Loan: $14,986


From end of June to end of July
Savings #1 = + $217
Savings #2 = -155
Savings #3 = +55
Roth IRA = + 50
401K = + 326
Brokerage Account = +55
Employee Stock Plan $0

My savings for the month of July = $548
Yay! All I was hoping for was a positive savings.

I put a slow down to building back up the savings. I've now got my eye on paying down my student loan. I haven't completely stopped saving, I have an automatic deposit from my paycheck that goes to Savings #1 and #3, which will have to suffice for now. I usually try to transfer extra to my Savings #2... but now that will go towards Loan Payment and Roth IRA.

Actually good news, I don't know what happened but the Federal Govt... Direct Loans lowered my monthly payment by $30. The interest rate was also lowered, considering that it's a variable rate and I have yet to consolidate my loans. 3.9% interest (from 6.8%)... so I'm taking this opportunity to make bigger payments so that even more will go to principle.

Now I feel pumped up again... let's keep chugging along. Next on the agenda... turning 23 next week. So hopefully August will be good to me!

July has been a slow month to start out as well as all the rest. My car insurance was due the first week. So I had to take out $300 from Savings #2... to cover this. However with my last paycheck I was able to put back at least $100. So really I only took out $200 from Savings #2. I'm starting to redirect my focus towards paying down my student loan and adding to my retirement IRA. I still have my regular savings goals, I'm just not focusing ALL my attention to them.

Here are my Mid-monthly results for July.

Savings #1: 11,285 (75.23% to goal)
Savings #2: 878 (35.12% to goal)
Savings #3: 559 (27.95% to goal)

Roth IRA: 1,550 ($3450 more to meet goal of maxing out 2008 contribution)
401K: 1,129
Brokerage Account: 145
Employee Stock: 420

Debt:
Credit Card: $0
Student Loan 15,222 (put an additional $100 towards my loan this paycheck... will have the updated number at the end of the month when I figure out how much went to interest and the how much went to the principle)

Well at least I have one more paycheck for July. Just have to stay positive and try not to get discouraged.

July 1st... I guess it's time to post June Results. Ouch.

Savings #1: 11,220(goal:15,000 ----74.8% to goal)
Savings #2: 1078(goal:2,500 ----43.12%)
Savings #3: 504 (goal 2,000 ---- 25.3%)

Roth IRA: 1,500 (goal: max 2008 contribution)
401K: 803
Brokerage Account: 100
Employee Stock: 420

Debt:
Credit Card: STILL $0!!!
Student Loan: $15,222


From end of May to end of June
Savings #1 = + $80
Savings #2 = -647
Savings #3 = - 196
Roth IRA = + $0
401K = + $43
Brokerage Account = +$25
Employee Stock Plan $0

My savings for the month of June = $-695
(oooo... that hurts!) And I haven't even paid my car insurance yet! It's not due until July 7th... so I'm waiting until I get paid again, which is this Wednesday. However I know that it won't be enough to cover the entire payment. I'll have to dip into my savings again (pull about $300). Also these results are understated a little since May was overstated by me including that first paycheck in May results.

I will admit that June wasn't a complete loss because I did get rid of my credit card debt. So I sacrificed some of my savings in order to have cc freedom. I'm going to work really hard for July in order to start rebuilding my savings after I pay my car insurance.


I just need to remember to focus on my goals.

I'm a little late on end of May. However I've been in California visiting family for the past week and I'm here until next week. The nice thing is that I've been to California a bunch of times, so I don't feel the need to buy a lot of things, so just good time with the family.

Anyway, here is the rundown (note this also includes my last paycheck that was posted yesterday)

Savings #1 - $11,140 (goal: 15,000 ---- 74.27% to goal)
Savings #2 – $1,725 (goal: 2,500 ---- 69.00% to goal)
Savings #3 - $700 ($50 less than mid-may - $50 towards a little spending money for my trip) (goal: 2,000 ---- 35% to goal)

Roth IRA – $1,500
401K: $760
Brokerage Account - $75
Employee Stock Plan: $420

Debt:
Credit Cards (4): $500
Student Loans: $15,326 (June & July’s pymt in Checking)

From April to May
Savings #1 = + $327
Savings #2 = + $156
Savings #3 = - $179
Roth IRA = + $0
401K = + $382
Brokerage Account = +$75
Employee Stock Plan $102

My savings for the month of May = $863

I was thinking this number is unusually high. Then I realized that it’s overstated because I included the first paycheck for June. Oops. Well that just means that June’s number will be lower in the end as far as increases in savings. It will all balance out in the end. May’s should be around $250-300 less. But hey that’s still a good number for me, considering I’m only working part-time. Thank goodness for time-and-a-half and holiday pay for Memorial Day.
When I get back from California, serious job hunt time!!! Then maybe I can get my savings up higher!!! That makes me happy!

Paycheck time! As usual pretty much the same breakdown as always. I need to keep in mind... pay myself first!!!

so first thing

401K
beginning balance 480
addition w/match 137
new balance 617

Towards Employee stock purchase 34
(the purchase will be bought at the end of May)

Savings #1
beginning balance 11,040
addition 50
new balance 11,090

Savings #3
beginning balance 750
addition 25
new balance 775

Brokerage Account
beginning balance 25
addition 25
new balance 50

I made more this paycheck from working more hours the past two weeks. And since I usually don't get this normally I decided to transfer $52 to my Savings #2 (Emergency Bills Fund), for when I really need the money.
So new balance for Savings #2 1,671

Also my student loan payment was taken from my checking this morning. However they haven't updated my loan information yet... so I don't know exactly what when to principle vs. interest. So I can't update my Student Loan information right now. I will update it in my end of May Report.


and all the rest of my paycheck goes into my checking!

So... May is going a little slower than I originally planned for. However I must say I'm doing pretty well for only working part-time. Luckily I was able to pick up extra hours between job searching and sprucing up my resume. I'm so glad that I made myself a cushion before leaving my full-time job so that I have wiggle room to find something I really want to do without really suffering the consequences of not working full-time.

So anyways here's the rundown on the accounts.
Savings #1: 11,040 (new additions $75 from Checking transfer, and interest)
Savings #2: 1,619 (new additions $50 from rebate check)
Savings #3: 750 (new additions $50 from turning in loose coin)

Roth IRA: 1,500 (I need to get on this year's contribution)
401K: 480
Brokerage Account: 25
Employee Stock Plan: 318

Debt:
Credit Cards (4): roughly $505 (I kinda rounded up to the nearest even amount... so in reality I have a little bit less)
Student Loan $15,486 (payment due on the 21st. Have May,June and July's payment saved up in my checking account)

That's pretty much it, I get paid next week. The day after Memorial Day I'm leaving for California for two weeks to spend time with family and possibly check out employment possibilities and west-coast living. Everyone keeps telling me that California is expensive. Yeah I know, but Northern Virginia is almost that expensive too. What frustrates me is that everyone likes to tell me what I CAN'T do...I'm determined and once I set my mind to something I'll make it work and accomplish it. We'll see what happens because ultimately it's my decision! BTW my round-trip ticket to California from Washington DC was only $230 on Virgin Atlantic, everywhere else it was around $400!!! And I paid cash for it... so more woo hoo.

Wow, I just happened to stumble across this site this morning searching for new ideas on how to save money on a tight income. A pretty neat idea.

Anyways I guess I should get started. I'm using this at a way for me to keep on track with my savings goal of someday retiring early (I don't want to work forever).

So here are my facts.
I'm 22 years old.
I just graduated from college a year ago. After all my grants and scholarships I was left with roughly $17,500 in student loans. My current balance on my student loans $15,487 (paying on it since October 2007).

I have 4 credit cards with a combined balance of roughly $650.00 (I really try to pay off my balance each month).

I still live at home unfortunately. I don't mind really because it's ALOT cheaper than living on my own, Northern Virginia is EXPENSIVE! Pay $150.00 in rent a month (I know that's nothing, my parents decide to give me a break considering that I'm paying $200.00 a month for my student loans).

I pay for my cell phone which is $65.00 a month

My car insurance is $500 every six months.
No car payment I paid that off my junior year in college, woo hoo.

Unfortunately I recently left my full-time job at a bank, in search for something more in my field of study. Unfortunately the job market is really slow. Luckily I still have my part-time job working retail with flexible hours, that will allow me to do my job search while still earning some kind of income.
My take-home pay dropped from $2000 a month to roughly $500 a month. A big difference.
I really want to continue saving.

This is my savings situation.
I have 3 savings account at 3 different institutions.
My savings #1 (my online savings that earns the higher interest) : $10,813 (this is the money I DO NOT touch, the money I set aside for my future, or... my emergency fund in case something happens I know I have this month to cover my student loans. [note: when I had my full-time job at the bank I was saving about 40% of that income, this is where most of this money came from]
My savings #2 (my oldest savings account, for everyday things) : $1,569 I'm trying to build this back up again, I took a big chunk of this out when I paid off all my credit card bills from college. This is the month that I'm allowed to touch if I need to cover some bills at the end of the month.
My savings #3 (my newest savings account, not quite sure what I'm going to use this for yet, just knew that I needed another account): $879

I have a 401K plan my with my part-time job, which I contribute 15% of my gross pay (pre-tax every two weeks) with a 4% company match. I just started this in January the balance is $378.

Another 5% of my gross pay from my part-time job goes towards an account set aside for employee stock purchase.

So with just $500 a month... how will I stretch it out so that I can still save after roughly $400 in monthly bills? Maybe I can pick up more hours at my part-time job between job searching to earn a little bit more. I figure it out and give bi-weekly updates on how I'm doing.