Accountability May 13

iVillage Member
Registered: 04-10-2003
Accountability May 13
6
Mon, 05-13-2013 - 8:23am

Hi All,

One of the spendiest weekends I've had in a long time!!! My sister graduated so the family went up to Ottawa to visit her. Holy hannah did it cost a lot. In total with hotel, gas, food, dog walking, tickets to the ceremony spent close to $500. Yikes! I owe $250 on my CC now that will be paid off this week (I have an expense cheque coming in from work that will cover it). So all in all I surived with minimal damage. Though I only have about $10 for the rest of the week, lol (good thing I have enough food and will be busy so I can't go out). I'm also going to try and not eat out for the rest of the month if I can avoid it. Its too expensive and my money goes SO MUCH further when I eat at home!!!

So now I focus on getting through May (which I knew would be expensive) and wait till I get to June (which I think at some point I may max out on my CPP and EI ... I have to check that).

Oh, and I am trying a new system for my sinking funds. Instead of keeping them sitting gaining no interest, I am applying them to my LOC. If I need to use them, I pull them off the LOC. I'm going to give it a month or two to see what happens!

So, here is where I stand:

Car Loan as of 05/06/2013: $5,837.86

Car Loan as of 05/13/2013: $5,704.93

Difference: $132.93

Student Loan as of 05/06/2013: $18,218.25

Student Loan as of 05/13/2013: $18,235.85

Difference: +$19.60

HELOC as of 05/06/2013: $10,125.10

HELOC as of 05/13/2013: $9,265.14

Difference: $ 859.96

Total Sinking funds owing: $619.09

Total debt as of Jan 6, 2013: $38,592.31

Total debt as of May 6, 2013: $34,181.21

Total debt as of May 13, 2013: $33,205.92

Difference from last week: $975.29

Difference from start of year: $5,386.39

Now in reality is isn't that much because at any given time I will need to pull from the sinking funds that are just sitting there. However, if I am saving money on interest then its worth the extra hassle of keeping on spreadsheet (and if it helps me save more because I don't want to use the sinking funds, well that is an added bonus!!!)


Bex -

Community Leader
Registered: 08-25-2006
Mon, 05-13-2013 - 1:02pm

Not really feeling the accountability thing, but the boards need all the imput they can get!  

Aside from groceries, I spent about $40 on summer clothes for DD13.  I made her pick two of the four shirts she wanted and a pair of shorts.  So, not bad, really for $40.00.

Only "splurge" was a Frappechino, half price yesterday at Starbucks between 3 and 5.  It was on my way home, so couldn't resist.  Had a great day on the dock fishing with SO and DD13.  We brought snacks from home.

Serenity

Serenity
iVillage Member
Registered: 07-24-2001
Mon, 05-13-2013 - 4:02pm
Bex, - I'm be curious to see how this sinking funds applied to the LOC goes for you. I think it's an interesting idea, but personally I don't think I could do it. But I'm confused . . . How much did you actually pay toward your debt this week (and do you count interest payments or only "principal punches"? And Serenity - Starbucks was 1/2 price???? What?? How'd I miss that - lol!
iVillage Member
Registered: 11-14-2008
Tue, 05-14-2013 - 10:25am

My sinking funds gains me a little interest each month. I transfer it to my house account because it makes me happy lol. Whatever works!

We went to Costco last Thursday and spent a pile of money. But we have lots of groceries that is for sure. I only need a couple of things from a local store to make recipes now. If we are going right home I will even buy veges there now too and fruit oh and milk!!. So much cheaper! I am good to go for at least a week and a half. I am going to bbq my brains out! Love it!

I worked on the weekend and bought a flower basket for my MIL for Mother's day. I called my  mom so a little bit of long distance charges will show up on my bill. We had a lovely fish fry for mom and the whole family. I was so great!

I have been low carbing it and my tummy feels great and we have been out walking a lot. I have lost 7lbs and feel so good! Everything fits better!

Boy it feels great to have that truck paid off. We are taking over a tractor payment from the parents in July but it is less and I will be back at work. I don't count it as personal debt because we have overages in land rent so I count it on the business side of things for taxes. It is for the berries. It is a zero percent loan. We will always have some type of equipment loan I think, lawn mower, bob cat etc. I live with it and accept it. 

A couple months with out any vehicle payment is great though. Dh registered the motorcycle so this was an unexpected expense but we won't have to go into  debt at all for it. I might even get some chairs for the kitchen. I have chairs that don't match. I have been talking about this for 3 years I think lol. And we still won't have to dip into sinking funds, savings or the house account. And I'm not even working!(well not paying myself yet from the store)

To quote my lovely Norma "Life is good!"

Have a great week everyone!

iVillage Member
Registered: 10-09-1999
Tue, 05-14-2013 - 12:50pm

Hey, Bex...it is going to be interesting to see how your sinking/LOC goes...I'm all for saving interest if possible & I know you will stay organized & on top of the #. 

We are doing well, DH got a raise & a two month extension on his job.  So he will receive full pay for 9 mths instead of 7 months & really won't be working those 2 months they added.  So all in all very positive!  He covers the cell phone bill & utility bills & life insurance premiums & vehicle licensing while he is working so it frees up some cash during those months that we can hit the mortgage with.  The weather has turned summer here, got my 5 planters planted plus some cucumbers & tomatoes & planting some potatoes in a whisky barrel tonight.  I'm loving spring/summer I was in dire need of some vitamin D!!

Enjoy your frugal week!

cindylee

iVillage Member
Registered: 04-08-2008
Wed, 05-15-2013 - 1:53am

yeah, I don't really like accountability bc I look at things on a monthly level. We just got our CC bill for $3100 when I was expecting $2900. Not that much but still off plan!

DH worked all weekend but we still managed to spend $80 on eating out (2 dinners), $27 at Starbucks and $75 on clothes for my trip.Plus $25 for cake for DH's birthday and $35 for a haircut for me. I refuse to total that as I don't want to ruin my impending vacation (starting tomm!). I anticipate a big weekend as I'm not pinching pennies on the boat. If I want to spend or buy things, I will. This is a vacation and I want a true vacation :)

Dee

iVillage Member
Registered: 04-10-2003
Wed, 05-15-2013 - 7:18am
I actually paid $365 towards my debt this week when I count what should have gone to the sinking funds. Already I'm thinking this is hard lol. I overspent on my trip to Ottawa to visit my sister and normally I would just take from my "me" sinking fund to cover the difference. Well since its now sitting in my LOC, it KILLS me to pull it off an increase that number . . . so I'm waiting to see if I can make it through the week on very limited funds (as in $0 funds and borrowing from next weeks spending money). I already "borrowed" $20 for groceries so I am down to $100 for food and gas next week . . . and its the long weekend. Luckily I have no plans other than helping BF get his house in order so this may work. Who knows. I'm not really sure how to track the debt I've paid off vs sinking funds other than a running tally of what I actually "owe" the sinking funds?

Bex -