At the suggestion of another blogger (sorry, I forget which one), I signed up with CreditKarma, which is a free service that estimates your credit score. I check my credit report about quarterly, but I've never paid to see my actual score. Anyway, the results were apalling, or at least, mildly uncomfortable.
Don't get me wrong, my payment history is completely flawless. Among the negatives was the fact that I utilize too large a percentage of my available credit. 35% is too much? Fine, I'm working on that as I type. I've also applied for a new credit card (since I only have the one) to increase my total available credit and in case of emergencies. Check. Second, my credit history, though perfect, is relatively short. On average, a few years. Ok, that's another thing I am working on, but I can't age any faster. I think there were a few more issues, but those were the main things.
I'm bitter, basically. Three years of perfectly on-time, in-full (EARLY) payments on my credit cards and student loans, and my score is only "fair"? Not fair!
Wednesday, July 29, 2009
Sunday, July 26, 2009
Spending update
Ok, we are half-way through the new credit card cycle, and so far so...fine.
I've made a couple purchases, including a closet organizer for about $40 (which I desperately needed), a plane ticket for $200, some groceries and miscellaneous items, a piece of jewelry from ebay for $18 (I had to use up the rest of my ebay bucks), and...here's the "fine" part....a ring from QVC for $99. And I was doing so well.
Under the guidance of To Shop or Not to Shop and Your Money or Your Life, I spent weeks (WEEKS!) convincing myself that all extraneous purchases were bad and would only lead to more extraneous purchases. This, sadly, is completely true. Even the process of cleaning out my jewelry box and closet of things I don't absolutely love led to less want. However, I made this purchase under a loophole. I had been pining for this ring for months, and while it has not been reduced in price at all, it is now available again in my size. It was grandfathered in, basically.
Now, the question is, will this be my undoing? Will this ring tip the balance I had so tediously maintained for the past 2 weeks? This is difficult for me, because an all-out moratorium on all "fun" spending doesn't seem sustainable, but is this ring WORTH it for me to break my streak? Until now, the answer had always been "no", but now, no matter how many times I reconsider this purchase, I just can't say no.
I should say that, despite this purchase, I'm still doing much, MUCH better than I've done in a long time, and that's cause for a little pat on the back.
I've made a couple purchases, including a closet organizer for about $40 (which I desperately needed), a plane ticket for $200, some groceries and miscellaneous items, a piece of jewelry from ebay for $18 (I had to use up the rest of my ebay bucks), and...here's the "fine" part....a ring from QVC for $99. And I was doing so well.
Under the guidance of To Shop or Not to Shop and Your Money or Your Life, I spent weeks (WEEKS!) convincing myself that all extraneous purchases were bad and would only lead to more extraneous purchases. This, sadly, is completely true. Even the process of cleaning out my jewelry box and closet of things I don't absolutely love led to less want. However, I made this purchase under a loophole. I had been pining for this ring for months, and while it has not been reduced in price at all, it is now available again in my size. It was grandfathered in, basically.
Now, the question is, will this be my undoing? Will this ring tip the balance I had so tediously maintained for the past 2 weeks? This is difficult for me, because an all-out moratorium on all "fun" spending doesn't seem sustainable, but is this ring WORTH it for me to break my streak? Until now, the answer had always been "no", but now, no matter how many times I reconsider this purchase, I just can't say no.
I should say that, despite this purchase, I'm still doing much, MUCH better than I've done in a long time, and that's cause for a little pat on the back.
Thursday, July 16, 2009
PF Mad Libs
Hosted by Punch Debt in the Face. Taken from FB.
THE BLANK VERSION
Hi my name is (blank) . I currently have (blank) dollars in my wallet. When I started managing my finances I was worth (blank), and now have a net worth of (blank). I currently work (blank) and have been doing it for (blank) years. I make roughly (blank) per year. I want to have (blank) waiting for me when it comes time to retire. Aside from learning about finances, I really enjoy (blank). I think the world would be a better place if (blank) didn’t exist. I had (blank) for dinner last night and it was (blank). I have had (blank) significant others over the course of my lifetime (counting awkward middle school relationships). One thing that makes me different is (blank). Now that I’m done with this mad lib, I think I’m going to (blank).
Hi my name is Sarah.
I currently have 0.82 dollars in my wallet. When I started managing my finances I was worth approximately -$19k, and now have a net worth of approximately -$3.6k.
I currently work for a law firm and have been doing it for almost 3 years. I make roughly $45k per year.
I want to have enough + a little extra waiting for me when it comes time to retire.
Aside from learning about finances, I really enjoy reading re: decorative arts, architecture, fashion, and jewelry; contemplating doing other things.
I think the world would be a better place if Snickers ice cream bars didn’t exist.
I had 4 Snickers ice cream bars for dinner last night and it was a moment of weakness/a bad idea.
I have had 5 significant others over the course of my lifetime (counting awkward middle school relationships).
One thing that makes me different is I always laugh at my own jokes. Now that I’m done with this mad lib, I think I’m going to eat lunch (...a Lean Cuisine, not a Snickers bar).
THE BLANK VERSION
Hi my name is (blank) . I currently have (blank) dollars in my wallet. When I started managing my finances I was worth (blank), and now have a net worth of (blank). I currently work (blank) and have been doing it for (blank) years. I make roughly (blank) per year. I want to have (blank) waiting for me when it comes time to retire. Aside from learning about finances, I really enjoy (blank). I think the world would be a better place if (blank) didn’t exist. I had (blank) for dinner last night and it was (blank). I have had (blank) significant others over the course of my lifetime (counting awkward middle school relationships). One thing that makes me different is (blank). Now that I’m done with this mad lib, I think I’m going to (blank).
Monday, July 13, 2009
Enough.
Without realizing it (or should I say, through very effective denial), I have fully and properly screwed myself.
As I write this, my credit card bill, representing the last $2k to my name (that's including my next paycheck, btw) is in the mail to me. Unless I start doing something differently, next month I will begin to carry a balance, which will mark the first time I've ever had consumer debt. Choice timing, too. I've got a September vacation to plan, an out-of-state wedding to attend (as the MOH) in October, and another plane ticket home for Thanksgiving to buy.
I am starting to flesh out a plan to implement in order to gain back some control. I'll post more specifics later. It doesn't involve anything fancy, but I will be rolling up my sleeves.
It's time to take back my life so I can start making choices again, instead of being enslaved by the bad choices I made last month, or the bad habits that always choose for me.
As I write this, my credit card bill, representing the last $2k to my name (that's including my next paycheck, btw) is in the mail to me. Unless I start doing something differently, next month I will begin to carry a balance, which will mark the first time I've ever had consumer debt. Choice timing, too. I've got a September vacation to plan, an out-of-state wedding to attend (as the MOH) in October, and another plane ticket home for Thanksgiving to buy.
I am starting to flesh out a plan to implement in order to gain back some control. I'll post more specifics later. It doesn't involve anything fancy, but I will be rolling up my sleeves.
It's time to take back my life so I can start making choices again, instead of being enslaved by the bad choices I made last month, or the bad habits that always choose for me.
Friday, July 3, 2009
July 2009 Net Worth
You know you're essentially living paycheck to paycheck when you get excited about a 3-paycheck month. And boy, am I.
Emergency Fund: $2,319.66
Checking: $1154.40
ING Funds (total): $5.00 (oopsies)
Roth IRA: $4,831.92 (out of the $6,000 I've invested so far)
401k: $1,711.34 (out of $1,765.28 invested)
Sharebuilder: $31.38 (out of $50 initial investment)
____________
Total Positive: $10,054.20
Rent: $850.00
Credit card: $3,338.32
Student Loan I: $9,330.50
Student Loan II: $0
Ebay purchases: $30.00
____________
Total Negative: $13,548.82
______________________
Total Net Worth: -$3,494.62
Let's debrief.
I'm becoming more Zen about my spending habits. I buy less frantically. That's good. What's not good is that I spend just as much time eying the goods as I did before. I'd also like to increase the cash flow to gain an edge over this issue, and if nothing else, eat up some time I would otherwise spend spending (or eating). I've posted a few of my horrid impulse-buys on ebay. If I manage to sell anything, all proceeds will go to the E-fund. Which brings me to my next issue:
The restaurant LITERALLY right next door to my apartment is hiring. Should I apply for a part-time gig?
Pros: It's next door. The commute is about 10 steps. The food is GREAT.
Cons: It's next door! What if someone decides to stalk me? I'm practically sending out an invitation. And if I work there, could I ever be a patron again? Would it ruin a good spot to eat?
Emergency Fund: $2,319.66
Checking: $1154.40
ING Funds (total): $5.00 (oopsies)
Roth IRA: $4,831.92 (out of the $6,000 I've invested so far)
401k: $1,711.34 (out of $1,765.28 invested)
Sharebuilder: $31.38 (out of $50 initial investment)
____________
Total Positive: $10,054.20
Rent: $850.00
Credit card: $3,338.32
Student Loan I: $9,330.50
Student Loan II: $0
Ebay purchases: $30.00
____________
Total Negative: $13,548.82
______________________
Total Net Worth: -$3,494.62
Let's debrief.
I'm becoming more Zen about my spending habits. I buy less frantically. That's good. What's not good is that I spend just as much time eying the goods as I did before. I'd also like to increase the cash flow to gain an edge over this issue, and if nothing else, eat up some time I would otherwise spend spending (or eating). I've posted a few of my horrid impulse-buys on ebay. If I manage to sell anything, all proceeds will go to the E-fund. Which brings me to my next issue:
The restaurant LITERALLY right next door to my apartment is hiring. Should I apply for a part-time gig?
Pros: It's next door. The commute is about 10 steps. The food is GREAT.
Cons: It's next door! What if someone decides to stalk me? I'm practically sending out an invitation. And if I work there, could I ever be a patron again? Would it ruin a good spot to eat?
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