by mapgirl on July 7, 2010
I suppose it’s good that I’m flat compared with last month. I’m down only $65. The main thing is that I’ve trued up the mortgage numbers so they are much more accurate than they usually are. (This update is late and my mortgage statement came in during that delay.)
Debts are down. Assets are largely also down. The stock market really got pummeled this spring. Without regular 401k contributions that number is going to stay down. The good thing is that I did finally get my 401k sign up squared away with work so that number should begin to rise.
by mapgirlsfiscalchallenge on July 6, 2010
2010 Goal #1
Pay down credit card debt by $5000
PASS – I am still on target to pay off one card at the end of this year. I am moving my Debt-O-Meter to 35% because I’ve been at that figure for the last month. I’m going to pay the minimum for the next two months while I figure out what I am doing for this summer’s weddings. I am on hold with travel plans for work and so I could end up paying a ridiculous amount of money for plane tickets till I know what is going on with work. (Work is sending me around the country to project sites and the timing is such that I may not be able to go for a reasonable price. They like to jerk people around schedule-wise. I wouldn’t normally care but the timing is starting to be an issue.)
2010 Goal #2
Fill the Save-O-Meter to $4K
I need to fill this back up. I dipped into it for covering work expenses till a reimbursement check came in, however, the balance on my Save-O-Meter fluctuates over the course of the month.
2010 Goal #3
Save $10K in my 401k plan
FAIL – I finally got my 401k sign up completed last month. I lost the little password card that was sent to me but I found it and made a point of calling and getting all of it done. My first paycheck deduction will come mid-July. If I can save $5K before the rest of the year, I will be satisfied with this goal.
by mapgirl on June 28, 2010
Not me. But someone I know. Not really surprised. It’s on a property in suburban DC where the taxes have tripled in the past year. My friend can afford the payments but due to some unfortunate vandalism after a renter moved out, it’s starting to become an albatross around his neck.
After doing some calculations, my friend decided it would take 7 years to break even and he doesn’t want to hold the property that long. I guess it’s not a big deal since he’s got a car and a primary residence already and he won’t need to buy anything big on credit ever again really. (If he buys his next car with cash that he’s saved from increased cash flow, then there are few downsides. I will have to mention the tax consequence though. But if he has increased cash flow, can’t he save up to pay those taxes?)
I counseled against it, but after getting an inkling of the numbers, I’m convinced it’s the right move to make. I wouldn’t typically think it’s a good idea but since it’s not his primary home like it is for most people in foreclosure, he’s not risking a lot by having a huge black mark on his credit report. The reason foreclosure is bad for most people is that they continue to need credit after a foreclosure happens. But the fact of the matter is, if you don’t need credit then what is the downside of foreclosure?
I realize there is a Tragedy of Commons issue going on with the wave of foreclosures, but to the individual who can afford the mortgage, the benefit of a strategic foreclosure is pretty high. Let me rephrase it: Why keep throwing good money after bad? In truth, I don’t see if this was a stock, why anyone would keep it if it continues to cost them money (in maintenance) and money invested in it could be used to make money someplace else.
by mapgirl on June 25, 2010
Without getting into it, I’ve been traveling for work and I get sick of looking at a computer so I’ve been doing very little but vegging out with soccer. (As well as suffering migraines in the office from eyestrain.) So expect posting to remain light.
People have left some interesting comments regarding my odd lot post. Moom thought it might be a scam, but I am certain it isn’t since Fidelity sent me another letter today. (Which is why I thought to post at all.) Revanche asks why bother letting me buy an odd lot in the first place. I don’t really know why, but I can speculate on what’s going on. Kiplinger’s [Link is to WaPo, but it's a Kiplinger's story] had an article I saw this week about Texas Instruments being ripe to raise its dividend. I suspect they are trying to get rid of the small shareholders like me so they can send out fewer checks or something like that. I hold just a few shares and so I get less than $10 per quarter from the company. Must be a pain in the neck to administer.
I’m also reading a new blog by my pal La Bella Vita. Right now I’m loving her food posts. I only wish now that she could ship me some bread starter!
by mapgirl on June 10, 2010
Sounds so very English doesn’t it? As if in some way I was fixing something broken or euphemiscally describing filling up a idiosyncratic gas tank.
But I’m actually talking about odd lots of stock, which are lots of less than 100 shares. I got a funny letter in the mail from my brokerage account last week. For some reason Texas Instruments does not like that I am holding an odd lot. And of course, they are telling me this now while the stock price is down and I’d have to sell it at a loss.
My other option is to top off the odd lot and buy enough to satisfy the requirement. But really, who has that kind of money now while all stocks are down? (I do, but only if I sell off my shares of Coca-Cola first and I’m not sure I want to do that.)
I don’t get what happens to people who do Sharebuilder and end up with letters like these. I almost always buy odd lots of stock, a few shares here and there. This is the first time I’ve received this letter, but I really hope it’s the only one I get. Is anyone holding TXN in Sharebuilder? If so, what will you do?
Expect an update later when I figure out what to do.
by mapgirl on June 9, 2010
The graph has been updated for a while, but I’m just getting around to doing a write up.
May was not a good month for me. Most of the fall in net worth comes from the weirdness in the market. Almost all of the mutual funds in my retirement account were down, but I still got my Treasury bond dividend at the end of the month. I’m glad I bought some since I look forward to $10 or more every month in dividends.
While I got a lot of quarterly dividends in May, it seems like such a petty amount compared to the market drop.
Fortunately though, I was still able to pay down a chunk of my credit cards. I do foresee that I will have problems later this summer with family wedding travel. I have some problems because I am traveling for work and I cannot book my ticket without taking vacation for a week. (There are some problems with doing that, but I’d rather not delve into that here.)
by mapgirl on June 7, 2010
2010 Goal #1
Pay down credit card debt by $5000
PASS – There is a specific credit card I have in mind for this goal. I am on target to pay off that card by December 1st. I am on track with this, despite the hard time last month.
2010 Goal #2
Fill the Save-O-Meter to $4K
I considered this completed last month, but I’ve had to dip into savings to cover my corporate credit card and short of buying CD’s to keep this filled up, I am not sure what to do yet. I seem to never have enough reserve.
2010 Goal #3
Save $10K in my 401k plan
FAIL – I haven’t had time to think about the company 401k plan. For some reason it’s not allowing me to sign up automatically due to a previous account I held there. It’s annoying because I cannot call them for help at midnight which is when I think about this kind of stuff. But we’ll adjust.
by mapgirl on June 1, 2010
Anyone have any tips? I’ve got a corporate card for work expenses. I am not sure what to do with Quicken and per diem.
I made a work expense category for when I spend out of my own pocket and transfer payments to that category when I pay the bill. I’ll also be able to see if I have any deductible expenses. However, with per diem I probably won’t.
It’s actually annoying me a lot to have to do this because I am racking up thousands of dollars in expenses but I don’t always get my expense checks in time. So any advice out there is greatly appreciated.
Yes, yes, I know all about gaming the per diem and all that. But for an accounting type like me, I really like everything to reconcile to zero rather than a net credit.
by mapgirl on May 26, 2010
I started my new job, and as expected, I am having some difficulties.
Main problem right now is that I have an expense account, and the reimbursement process is off-kilter. I will not have enough cash to cover my expenses from the get-go because of the check reimbursement cycle. I have plenty to cover the first bill, but I won’t get fully reimbursed for 4 days after the bill is due. I guess I can put that money into savings and just hold it in an interest-bearing account for 30 days till the next bill is due. Which is good because…I just bought $2300 worth of plane tickets for the next month, and I might only get half of that by the time that bill is due.
I have a few other drains on my savings because I’m having a will drawn up as a consequence of all this travel, COBRA, and a new dishwasher for my folks. But it’s holding itself together with a little duct tape and a few pieces of bubblegum.
by mapgirl on May 25, 2010
I’ve been traveling for work the past few weeks and that looks like it will continue for a while yet. To cheer myself up and stop wasting so much money on herbs and produce I don’t eat, I convinced my boyfriend that we should plant a few things on the back deck.
The impetus for gardening was a housecleaning gift from his mom. She had some extra hanging baskets and tiki torches she didn’t need anymore after she remodeled her backyard so she gave them to us as a reverse-Mother’s Day gift. Boyfriend was hot to send everything away via Freecycle, but I thought we really could do ok with planting a few items in them.
As much as I love flowers, I love to eat more. We decided that planting a few herbs and peppers would serve us best. Our list came out to rosemary, basil, thyme, parsley and hot & sweet peppers. (Jalapeno and Anaheim) We have a mix of seedlings and sprouted seeds because I could not pass up the cute seedlings at the Farmer’s Market and the faster availability of fresh herbs. ($10 for three)
Other supplies:
Bag of dirt ($4)
Coco fiber basket liners (~$6 I think, I can’t figure out which item it is on the receipt)
Seeds ($10 for 5 but we have to return some, net cost $4)
For about $30 bucks I hope to have herbs all summer and fall. I hope dry out the thyme at the end of the season for my winter stews and roasts. Rosemary does ok in the winter and my next door neighbor knows how to pickle and can items, so our extra peppers might end up in jars for later.
I’m just happy that in 6 herb harvests, this venture will have paid for itself. I spend about $3-5 per bunch of herbs at the grocery store and lots of it goes to waste unless I ‘dry’ them out in the refrigerator. (That was a happy accidental discovery in the back of the fridge. Now I make a point of separating bunches, washing the herbs and loosely putting them into a plastic bucket in the fridge. It works great!)
