Check-In on my 2008 Goals!

Alright...it's already February, so I thought I would do a status check on how I am doing on my 2008 goals. I copied a bunch of what I wrote in that entry here...and then I will put how I am doing so far in bold under it, mkay?

2008 Goals
1. Fitness
*I would like to ramp up my exercise even one more notch. I want to keep doing the cardio (with my rusty trusty elliptical) and also do a lot of circuit training to tone and shape what I've got.
*I want to run a 5K. I put that as a goal last year...and I walked a 5K, so I thought...good enough. Not good enough. I want to run one. We have a local runners club here and they have 5Ks throughout the year...so, I want to sign up for one. There is one in March...and I might sign up for that one to push myself to be ready by then. I won't like training and working up to it in the cold, but I'll survive!
*A fitness goal I have...is to figure out how to maintain my weight. I have had success at losing weight and gaining weight, but staying the same weight...that is such a mystery to me. So, I want to maintain my weight...and plan on giving myself a reward for each month I maintain my loss...once I am done losing.
So far, so good. I am still working out on my elliptical...doing strength training more than I was in 2007 and I set the goal for running not a 5K, but a 5 mile race in March. I still need to figure out how to maintain my weight...and that will start mid-February when I transition from the weight loss phase to the transition and maintenance phase of my diet/lifestyle program.

2. I want to be more organized in all areas of my life. I want to be more organized at home. I want to constantly keep the apartment clean. Instead of letting it get gross and disgusting...and then doing a mass cleaning, I want to keep on top of it every single day. I also want to be more organized at work...I want to not let things pile up. So, I am looking for 2008 to be the year of organization.
Things are getting to where they need to be. I spent a lot of time on my bedroom at home. I cleaned it...I organized my closet and actually put things away. Also, my roomie and I did a cleaning of the whole apartment. Now, what we NEED to do is keep doing it. We tend to get into the pattern of cleaning and then not doing it again for weeks until it desperately looks like it needs to be done again. Not good enough. I think I am going to make a cleaning schedule and hopefully roomie and I can figure out who is going to do what...on a more often basis. Work...still needs organizing, but I am getting there. I figure...organize home first, then work.

3. I want to be more active with my church this year. They have been really wonderful this year. My mom loved church and so being there is a really nice way to be close to her. I want to get involved in more things...and become more connected to the church, other than through my mom.
I have committed to going to church every week for the next 6 weeks of Lent. Plus, I have been bringing things in for the dinners and what not. And, I signed up to help two other people in church with the communion breakfast in April. So, I am slowly looking to become more involved. I think I might also find a way to help with the Sunday School events...even if it is just watching the little ones in the daycare section. I am going to look for opportunities to get involved...and say yes when asked.

4. I want to expand my wardrobe. I want to buy some more clothes...but within a budget. I plan on buying a new item or so every time I get paid. It would be nice to not be still wearing clothes I was wearing in high school.
I have done much better at this than I expected. I am horrible at spending money on myself. I went out and bought a BUNCH of stuff from Old Navy and Target during their after Christmas sales. I got a bunch of clothes for very little money. It's one of the benefits of losing weight...and feeling good about your appearance...because I am now more willing to spend money on myself and something that will make me look good.

5. I want to continue saving money. I want to start a Christmas savings account so that the holiday spending doesn't always seem like such a pinch. I also want to save for another trip to Florida...possibly going with some friends, etc. And, I also want to take another look at my monthly budget...making sure I am saving all the $$$ I can.
I did start a Xmas savings fund and I am putting at least $25 a month in it. I don't want to spend all of January paying off Xmas debt like I did this year. I am still putting money into my car insurance savings acct, my car savings acct and my general savings acct. I am also thinking of starting a dental savings acct since I always need some work done...yadda yadda yadda. I do pretty well at saving money...I just want to make sure it is a constant, automatic thing each and every month.

So...there are my goals for 2008...so far...and an update on how I am doing. Honestly, I think I am doing pretty well. I need to think if there are other goals I would like to accomplish this year as well.

Weigh-In and $$$$ Update...

I forgot to update with my weigh-in for the week...probably because I gained. It's so interesting...I never "forget" to weigh-in when I have lost, but it always seems to slip my mind when I gain.

I gained one pound this week...which isn't the end of the world. I did go on a monster food binge this weekend. I made tacos and ate it all...til my stomach actually hurt. I love tacos...and have learned I have difficulty with portion control because of said love for the tacos. I also ate ice cream...and basically anything that was in front of me. Let's put it this way...I officially at M&Ms for breakfast on Sunday.

But...it's all a learning experience. And Monday was a lot better...I did some grocery shopping to have some healthy options in the house. I bought food that I like and that is also good for me. Plus, I am going to go back to writing everything that graces my lips down...it helps.

I am also kind of stuck in terms of workouts...I plan on starting Power 90 and I am actually quite excited about it. I really loved that program the two times I have done it before. But, I don't know when I am going to be able to start it. I basically am waiting until my roommate starts actually working nights...instead of training during the day, which she is doing right now (and who knows how long it will be until it is actually night shifts because she has been out of work for quite a while with stuff with her step dad...completely understandable). So...I am excited to get started...I just don't know when I can get started. I am still doing a lot of walking, but I am looking forward to working out with more intensity.

And an update about the finances...I wrote a TT last week about a bunch of ways I am going to save more money. I have started putting a lot of those things into effect.

#1: On Friday, I went in and cancelled my YMCA membership. It broke my heart a little bit to do it, but since I wasn't using it...why should it? I just like the idea of it being there. I need to give them 30 days notice...so they will still charge me one more time, but not again after that. $37/month officially saved.

#2: I logged on and made the change to my Blockbuster membership...from 3 out at a time to 2. It's a smart move since last week, I was running out of movies at the store that I wanted to exchange them in for. I know a couple of people suggested that I cancel my account and use the library. It's a great suggestion, but just not for me...and in this area. I did that when I lived in Bloomington and it worked perfectly. Their selection mimicked what the video stores had and it was such a simple process. Not so much here...they have a small, small section of DVDs and it takes forever to get a new release. So, I am going to stick with the Blockbuster membership...just a smaller one.

#3: I am in the process of cancelling the Netflix account. I have the two movies per month account...and I wanted to make sure I got the two movies I paid for before cancelling. I am being sent the second one right now...and once I have it in my hot little hand, I will cancel the account. It will give me ten days to watch the movie and get it back to them and still have it cancelled. I figured it is best to get my monies worth and then cancel...since I am the Queen of Thrift!

#4&5: Haven't charged anything on my credit card since getting paid...but groceries and gas. I have to pay this month's bill...and then see how much smaller next one's will be. I also got out my $20 spending money this month...and so far, I have been very good with it. I bought a sandwich for dinner...and paid for it out of my cash in my wallet. I also considered getting Taco Bell for dinner one night and thought of the money in my wallet and that it has to last until next Thursday...changed my mind...and made something at home.

#7: I switched my insurance...and saved a chunck of change. My policy is about $80 cheaper for 6 months. And...when I cancelled at my current insurance company...they are sending me back $43.00 that I have overpaid them. Whoo hoo! I also saved myself $4 per month because instead of paying monthly installments where they bill you a $4 service charge...I paid it in a one time installment. That saves me an additional $24 per 6 month quote. All in all...pretty sweet deal.

#9: I checked my AAA gas card...and the online statement said that I saved $4.88 on gas this last month. It's not a lot, but it's better to save a little than to not save anything.

#10: I haven't gotten my bike on the road as of yet...it's on the schedule for next weekend. I want to get it going, so I can start riding it to work.

#12: I have brought my lunch everyday...for over 2 weeks. I was tempted to order out with a co-worker yesterday, but alas...I did not. Go me!

I still have some stuff to get done...but all in all...I am moving pretty well on all the goals I set for myself.

Being smart about DEBT!

Now in an ideal world, we would all live on a pink cloud and never have a cent of debt. But unfortunately, not many of us get to live on that perfect, pink cloud, do we?

I have been writing about money and debt 24/7 around here lately. I rambled a few days ago about my finances and the amount of debt I have paid off in the last few years. I rambled last week about my decision to move a bunch of my money from savings and pay off a small education loan that I have. I wrote a Thursday Thirteen meme earlier today about 13 things I am going to do to save even more money while I am paying my debt off. So, to say that I have money and debt on the mind is probably an understatement.

I have often said...I probably said it earlier this week, that I think people should be required to take a finance/money course before they graduate from high school. There were so many things about debt and money that I just didn't know when I was offered my first credit card. The debt crisis is growing each year and I don't see it getting better, I see it getting worse. *cringes*

And for the most part, I am very lucky. I am lucky that I don't have the credit card debt that other people do. I am lucky that all of my debt is what people call "healthy debt"...meaning educational loans. Of course, I don't feel so lucky when I am paying it off!

I have had a few friends ask me where they can get debt help and advice. It's tough because there is often conflicting information out there and you don't really know who to trust. Well, one..I would say ask people in your life what their advice is. Two, if you go to a professional for advice, I would encourage you to look for a non-profit organization. I happen to believe strongly that if someone is going to make money of your financial woes...they probably have their bank account interests in mind, not yours. There are some web sites out there which can give a lot of advice about tackling your debt no matter how big or small. (I like that this site says that there is NO need to pay for advice! Smart site, I say!). I think that debt management can be so overwhelming, so it is wonderful to have someone walk you through it...so you might see a light at the end of the debt tunnel.

And of course, money management is a crucial skill too. You can learn everything from A to Z about debt, but if you don't learn to manage the money you have...it ends up being an endless cycle. The site recommends making a weekly budget, make lists of monthly bills/fees, create a competition with friends/roommates about who can spend less at the grocery store or to get their hair cut (I love this idea...I am SO stealing it), etc. I am always looking for new ways to manage the money I have and hopefully spend less of it.

Alright, I promise...I won't talk about money for at least a day. At least I will try!

Thursday Thirteen #33

Thirteen Ways Shelley Plans On Saving $$$$$! I am already a pretty frugal person, but there is always room for improvement, eh? I am going to list 13 ways in which I can make a dollar go even further in hopes of continuing to pay off my school loans and have that monkey off my back! 1. This one makes me sad, but it needs to be done. I am going to cancel my membership to the YMCA. It costs about $40 per month and to be honest...right now I am not using it. Plus, I have about a bajillion workout tapes at home and have been using walking as my main form of exercise right now, so I can do that anywhere. So...bye bye YMCA! Savings: $40/month. 2. I am going to change my Blockbuster Access program from 3 movies out at a time to 2 movies out at a time. One...with the free movies you can exchange, I am finding it hard to watch that many movies a week and two, it saves me money, not a lot, but money. Savings: $3/month. 3. Cancelling the Netflix subscription I have. I have been holding onto it because they carry some movies that Blockbuster does not, but well...who cares? And, I actually don't even need to cancel it, I can put the account on hold for 3 months and then cancel it, so no harm, no foul. Savings: $5/month. 4. As said this in an earlier post, I am going to be a Nazi about my credit card spending. I am only going to spend money on my card on gas and groceries...that's it. Nothing else! I always pay it off each month, but it's just too easy to justify charging a pizza on my card, etc. We'll have to see how much savings it actually adds up to, but I think it will be pretty good. Savings: ???? 5. I also said this in an earlier post (money has been on my mind lately)...I am going to give myself $20 cash each time I get paid and that is the only money I can use for things such as going out to dinner, going to the drive-ins, etc. Once that money is gone...that's it until the next time I get paid. I've done this before and it is pretty effective. Savings: ???? 6. I did this earlier in the year and I am going to get back to it. At the end of each week, I am going to empty the change out of my wallet and put it in a jar. I won't really miss those pennies and dimes and quarters (alright, I might miss the quarters)...but they will really add up over time. 7. I recently started shopping around insurance companies...and found that my company is not giving me the best rate, so I am switching. I found out that Geico quoted me at about $85 less per 6 month policy. That's a huge difference. I am going to call them this week and make sure that the policy is what it is...and then I am switching. Why pay more for coverage you hope to never have to use? Savings: Approx. $28/month 8. I hate doing this one, but I am going to do it. I have said before how much I HATE Wal-Mart...I have coined them "Devil-Mart" because I loathe them so much. But well...I hate them, but love their low prices. I did my grocery shopping there last month and compared it to the local grocery store and I easily saved 30-40 bucks on everything I bought. That's insane. So, I am going to do my grocery shopping there for a while...to save some much needed change. Savings: maybe $30/month. 9. I am always going to use my AAA gas card when buying gas. I have been doing this for about a year now and I am going to continue it. When I use the card to buy gas, the card gives me 5% cashback. So, when I am paying $3.15.gallon...that is a savings of about 15 cents per gallon. I have a 12 gallon gas tank, so that means that when I fill up...I am saving about 2 dollars. If only gas weren't so expensive, but alas...oil runs the world. *grumbles* Savings: $2-4/month. 10. Speaking of the evil cost of gasoline. I have had it, so I am going to get my brother's old bike out of the garage at my dad's house...fix it up...and start biking to work. I only live about 3 miles from my job and if I start biking it, I would only have to fill up once a month instead of twice. Plus, it's nice exercise. I plan on looking at the bike this weekend and work on getting it road worthy. Once I start using it, it would save me one tank per month...at least. Savings: Approx. $30/month. 11. I am going to start using coupons...buying things when they are on sale...and going to the clearance sales, etc. I have never been someone who clips coupons out of the paper, etc. It never seemed worth it to me, but I am at least going to take a look and see if there are things that I would buy anyway. Here is my word of warning about coupons...I happen to believe that coupons convince you to buy things you don't need, etc. So...don't do that. Only buy things that you would have bought anyways. But, I am going to look at the sale flyers and also do clothes shopping when they are sales...go to thrift stores, etc. I don't spend a lot of money anyways...but sales can even make my dollar stretch farther. 12. This one is something I am usually pretty good at...usually. I am going to bring my lunch to work everyday and not buy lunch out. When we buy lunch out it ranges from $3-7 dollars depending on where we go. That's just ridiculous...and if you eat out 2-3 times per week...that's $9-21 per week. I can just as easily bring in my salad and snacks. Now, if I do decide to eat out for lunch, etc...it needs to come out of my $20 per pay period...no exception. Savings: Figuring how often I eat out right now...the savings would be about $10/month. 13. And the last thing I am going to do...is ask people's advice on how to save money. I think everyone has their own little tricks, etc. So, any advice out there? What kind of things do you do to save money? What things have you heard, but well...aren't using?? Anything? Bueller? Bueller? And let's add it up...the projected savings per month if I do all these things would be... Savings per month: $148-150/month. Seeing that number really motivates me to make all those changes above!!!!

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rambling about finances...

I transferred the money over the weekend in order to pay off one of my student loans...and even though it was terrifying, I am so glad I did it. Actually, it's almost paid off, but not quite....I wanted to wait until I got my final statement before I made the last payment because I want to give them the exact amount of the 10 Day Payoff amount instead of guestimating it.

So, I am going to ramble about some of the stuff I have paid off in my time and my goal for the next month in terms of my finances.

I paid off my car loan (5% interest) in June of 2006...about 2.5 years before the loan was due to be paid off. I don't know how much I saved in interest, but I know I did. I was really lucky with my car loan because I got in with a really nice interest rate...I think it was 5%. I know I couldn't get a rate like that today because of the change in the market.

Since I have paid off my car loan, I have started using the money I paid that with and rolled it into my SallieMae student loans(4.125% interest)...doubling the amount I have been paying. I started out with over 50K in SallieMae loans (I know it's horrific...I am tempted to write a horror movie just about educational debt...and it would be scarier than any of the SAW movies! lol). Anyways...I started out with that much in that loan and have since paid to down just about 30K, maybe a smidge below. It's still a lot of debt, but in 5 years, I have basically cut that debt in half. I am on schedule right now to pay off that loan in 2010...instead of 2032. I just went to a loan calculator and figured out how much money I am saving in interest...and let me tell you, it is motivating. If I paid the loan as scheduled for the 30 years (gulp!)...then I would be paying over 43K in interest loan. I would almost be paying as much as I borrowed in interest....now that's just insane. With the payments I am making now, the interest is just below 8K...which still is a lot of money for me, but I have justified that it is worth the price of my education. And...by paying it off aggressively, I have saved about 35K. Now that's a statistic I like.

And then there is my Perkins Loan (5% interest)...which I didn't consolidate with everything because it is a type of loan which can be forgiven if you do certain types of work such as teaching, working with children and police work, etc. The catch is that you can't do that if you consolidate first...and then get one of those swanky jobs. So, I consolidated everything else and not that loan. I am glad I did because I worked at a job for about 2 years which provided me some loan forgiveness. So, I started out with a smidge over 10K debt in that loan and the government forgave $1500 of it. I was left with having to pay the remaining $8500 plus interest. I have been paying every month...about $100 more than the payment amount...until I decided to stop putting money in a savings account for a rainy day at 4.5% interest and pay off a loan which is costing me 5% interest. So, I transferred the money and made what will be the second to last payment.

So, let's see the amount of total debt I had and now where I stand....

Original Debt: 76,482.00
Debt Now: 30,700.00
Total Debt Paid (not including any interest): 45,782.00

You know...sometimes I just feel overwhelmed with debt, like it is never going to go away. But then again, I always have to remind myself that the debt is temporary and that in 2010...all of that debt will be gone. And I have to remind myself that I have paid off more than 45K of the debt I had. So...all in all...not too shabby.

So, what's my next step??? Well...I am not carrying any credit card balance, which is a good thing, but I want to go one step better. Sometimes I spend money on things and use my credit card to do it...and I probably don't NEED those things...at all. Like eating out at a restaurant...or ordering pizza...or a new, pretty shirt. I always pay my credit card bill off at the end of each month...but it is more than is probably necessary. So, I am going to be a smidge more disciplined with my credit card spending. Starting on Thursday (because I get paid on Thursday), I am going to only buy gas and groceries with my credit card...and everything else either needs to come from cash or my debit card. I am going to take out $20 from the ATM each time I am paid for spending money...and if I spend them in one night...then the rest of the two weeks are going to be pretty bleak. It'll be interesting for me to see one month later...how much of a difference in makes in my credit card statement. We'll see...

So...there is the blathering of my finances...where I am at...and what my game plan is from here on out. Alright, enough about money...at least for now.

the debt/savings game...

I have spent a good deal of the morning going through my finances and debt...and looking at where I am at in terms of paying off some educational debt (it's really the only debt I have left). I have ONE monsterous loan...and a smaller Perkins loan which is slowly being paid off.

The Perkins loan is a smidge over 3K...and I have been paying a whopping $200 a month on it. Right now, it is scheduled to get paid off in the middle of 2008. I think that's pretty good since the initial loan was scheduled to be paid off sometime in 2012. It would be paying the loan off 4 years early.

Seems good, right? Well...yes...until I really thought about it. I started thinking about the loans I have and the money I have in savings. I have a student loan which is about 3K...and I have about 4500 in my savings account. I am paying 5% interest on my student loan...and making 4.5% interest on the money in my savings account. Just looking at interest alone, that's showing that I am losing 0.5% interest each month by leaving the savings where it is and only paying the $200 on the loan.

So, why haven't I paid it in full yet??? Well...part of it is fear. I like the security blanket of having all that money in a savings account just in case...the worst happens. I like having it there just in case my car does a horrible, evil death. I like having it there just in case I get fired 10 minutes from now. I like having it in case I get sickly...and need to be out of work for an extended period of time.

So...I am keeping the money there for the "just in case" situations. And the likelihood of any of those things happening is not much....and that means, after some consultation with one of my friends at work...we decided that it really is in my best interest to pay off that loan.

It's still flippin' terrifying, but...well, it's the right thing to do. Now, after I pay off the loan, I am going to put the $200/month that I used to pay for that loan back into my savings account to build back up my savings. After 1 year, I am going to roll that $200 over into what I am paying every single month on that honking other student loan I have. And I have to remind myself that even though that loan is HONKING huge, I am still on course to pay that off sometime in 2010...which is 22 years before I am scheduled to have it paid off. Not too shabby, not too shabby.

So there ya go...my next action on my plan to rid myself of debt...well until I decide to buy a house and pile myself with debt all over again!