Current Baby Step: #2 Debt Snowball
Current Balance: $34,580.04
Chutes:
- I paid $515.90 for new tires.
- My phone is on the blitz, which I am not happy about.
Ladders:
- At the end of my last auction I have made $183 via eBay.
- No change in my Report Card (progress bars). Only66% of student loan to go!
- 77% of my total debt has been paid. YEAH!!!!!!!!!!!!!!!
Ramblings:
CAR ACCIDENT: State Farm did not improve their customer service, nor did they take the time to look at the details of my file. They decidide that they were liable and are processing a check for me. Before the send the check they will deduct my $500 deductable and another $500 because the bumper had a perexisting hole in it. State Farm estimated that the preexisiting damage would cost just over $500 to replace.
eBAY: Last weeks sale was a big success. We found alot of clothes for cheap. I got a ton for $0.99 each. This includes 2 formal dresses, several Victoria Secret shirts, 100% linen pants, ralph lauen pants and much more. I have enough stuff to last me the rest of the month and I have nowhere to store it in my house. Currently, I have 40 items listed on eBay and 13 have bids valued at $111.34. This is over half of what I invented in all the stuff I bought. It would be nice to clear my breakeven point ($206) by the end of the 40 auctions.
Each time I go through this process my strategy evolves
- If the cost of the article of clothing is $1, I am not focused on specific name brands. The reason for this is because many items will at least sell for their breakeven point ($2.37). Even is something sells for $5, I WIN!
- I would like to keep the purchase price low enough that the breakeven point isn’t much higher than $10.
- Many of the clothes are spring colors and styles, so if they don’t sell I will relist them in the spring. If they don’t sell at that time, I will donate it for the tax write off.
FINANCIAL COACHING: Good news here…I have been granted the opportunity to lead a book study on the Total Money Makeover. It is for a group of young professional women between the ages of 19 and 31. I am really excited for this opportunity because I just love sharing this stuff. I had to order the TMMO workbook, because I have never used it. I ordered a used copy on Amazon and it cost $5 and some changes.
OTHER NEWS:
- My friends mom brought a huge avocado from FL and I made guacamole. The avocado was so big it nearly filled up a Tostitos salsa jar. I can’t get the picture off my phone right now, so I will try to get it in the near future.
- I am running the Army 10 Miler in DC this week. Should be interesting since I haven’t run in a while and I have been experiencing spasms in my left calf. I love running and I get to see some family and old friends.
- My friend is getting married and I am in her wedding. She doesn’t have details for me, so I have none for you. In helping her look up stuff I found two sites of interest.
#1: Greenvelope.com is a online invitation and RSVP management system. You can send electronic Save the Dates, Invitations/RSVP & Thank Yous for $139.99. This is much less than the cost of all three, plus postage on all three and time spent preping all three. And to top it all off, it keeps tracks of RSVPs. I will definately be using this when my time comes.
#2: BudgetSavvyBride.com is a collection of stories from brides planning weddings on budgets ranging from $1000 to $15000. The blog owner selects a handful of brides to blog through their planning experience. They share tips, pictures, emotions and great ideas. Since there is a variety you don’t really have a dull moment. One page allows you to view wedding by their budget size. I would love to particpate in this if I was planning a wedding.
How are you doing on reaching your goals?
Current Baby Step: #2 Debt Snowball
Current Balance: $34,970.15
Chutes:
- This week I got in a car accident. Not sure what the insurance company will do. Read more in the ramblings
Ladders:
- Today is the big sale at my store of choice. I hav $210.48 to reinvest in clothes to sell on eBay.
- No change in my Report Card (progress bars). Only 65% of student loan to go!
- 77% of my total debt has been paid. YEAH!!!!!!!!!!!!!!!
Ramblings:
CAR ACCIDENT: Well, here is a picture of my car after it got hit. I was repositioning my car when a guy came along and took my bumper off. My insurance company (State Farm) has not be a joy to work with. From the first time they spoke to me they assumed that I was at fault. They didn’t even want to look at picutes. I am extremely disappointed that they were not interested in doing their due diligence before makeing a decision. After sever phone calls and many claims center reps I have raised enough fuss to get them to get off their butts. If I do not feel they have done a reasonable job in assessing the situation, it has been recommended that I sue them. I hope it doesn’t come to that. I just want my car fixed. Currently the bumper is being held on by zip ties.
eBAY: I can not even begin to tell you how excited I am for the big sale today. Last night I went to bed early so I could get into work early and get off early. I figured up that I have $210.48 to spend. Only $132.44 is in my bank account dedicated to eBay. $77.54 is being held hostage by PayPal. Since they have not release the funds I am borrowing the funds from my blow money and clothes money fund. Once PayPal release the funds I will transfer them back to my personal accounts. I really hate to borrow money from myself, but today I am willing to take the risk.
FINANCIAL COACHING: In a conversation with a friend today we talked about financial coahing business. The reality is that this type of business takes alot of work to lay the foundation and does not have a quick ROI. Today I accept that this venture will not get the attention it needs and deserves until I have released myself from this debt. In the meantime I will continue to share my knowlege with people and increase financial literacy in my community. I am currently facilitating FPU and plan to do it again at my church in the Spring. If I don’t do it in the spring I think I will lead a book study using Dave Ramsey’s Total Money Makeover book and workbook. I may even do one on the “Richest Man in Babylon”.
OTHERWISES: Things are good and I don’t have any complaints. Keep on Keeping on.
How are you doing on reaching your goals?
Courtesy of My Pretty Pennies
1. The most I’ve spent this last week was on my student loan payment
2. Today I am thankful for a long holiday weekend, the sunshine and my Groupon for a Shellac manicure. The Shellac polish is amazing, but you can only get it in salons.
3. Money can’t buy happiness. One free thing I did last week that made me happy was hanging out at the pool
4. I will consider this week a success if I can finsh a document that I started for my financial coaching business last month.
5. My favorite 4th of July tradition is watching the fireworks while listening to partriotic songs like the Star Spangled Banner, America the Beautiful, God Bless the USA, etc. As a miliarty child the 4th of July is a very special experience. There is nothing like 4th of July in DC or on a military base. While you are watching your fire works remember those who have and are serving.
Its Friday and time to wrap this week up!
- Extra payments: NONE
- Extra Income: I went to donate/sell my plasma this morning, but I couldn’t get the physical without my driver’s licsence and social security card.
- Sweet Treat Business: We launched a fundraiser this week. Our goal is to be a debt free company, so the funds will go to get us to the next step in our entrepreneurial journey. Our numbers: 7 treats on our first day, 26 fans on Facebook, 1 Twitter follower and a ton of love & encouragement from our friends and family.
- Financial Coaching Business:This business has been though for me to make progress with. I am not sure why but I am sure it is a combonation of things. I don’t feel like I have the time to build the business because I work during the key time of day to contact people. My attitude from my current job spills over into the rest of my life. This weekend I have a client consultation and will work on drafting an example Statement of Advise. (the Sweet Treat business is more fun with my friends).I attended an open house with this church that I have been attending and they offere Financial Peace University. On the card I offered to be a volunteer coodinator.In May, I teamed with a local university to apply for a grant that would bring financial literacy progams to their students. We were supposed to hear something on the 15th, but they recently said it would be another two weeks. On a better note a local bank donated $150.
- Health/Fitness: Monday started the beginning of half-marathon training. I signed up with a free running group at my local running store. We meet at the store for short runs on Mon & Thurs and do long runs at the park on Saturday. There are so many people who run. I am disappointed that I just now took the time to discover the group. On my cross training days I am doing Insanity. It is tough, but I love the challenge. (Friday & Sunday are rest days)I have noticed that I am sleeping better at night, drinking more water and eating less unhealthy foods.
- Costume: The dance costume I am making is coming along fine. I will share some pictures soon. I will start studying for my test sooon.
>Thank you to everyone who sent me their debt info. I think I have enough examples to truely show my classmates and thought leaders the value of financial coaching.
THANKS AGAIN!
>For the past 7 weeks I have been taking an entrepreneurship class that focuses on the start-up process. I am trying to start a financial coaching business in my community. We are at the point where we have to demonstrate the value that we will provide to the customer. To do this I would like to create realistic “Client Stories”. Since I don’t have real clients at this time I would like to ask you to help me out.
HOW YOU CAN HELP
Anonymously post in the comments section or email me (ifiwerearichgirl11@gmail.com) the three things below:
- Short generic bio summary about you (age, gender, state or region, education, profession, household income, marital status)
- Debt details (balance, interest rate, minimum payment). Be honest with the info, because this is the information I want to use for calculation.
- If you pay extra on your each month, what is the average amount?
EXAMPLE (using my details)
- 29 year old, single, African-American women, Bachelors & MBA, purchasing professional, midwest, $71,500
- Debt Details (from 2007 ~ when I started)
- I try to put $1000 extra towards my debt each month.
The more real life examples I have the better, so please pass this link on to your others.
Thank you in advance for your assistance!
>My last apartment therapy update was on week #3…well week 4# has come and gone and I haven’t made any progress. I don’t think it is going to happen this week due to the holiday weekend. I promise to be back on track soon. I am off to unpack some boxes now.
I haven’t posted much because I am in an entrepreneur class that is helping me prepare to open a financial coaching business in 2011 and I am learning a new dance choreography for a Dec 4th performance.
More updates soon….I hope.
>
Alot has been going on but I haven’t done any post. So this is just a bird’s eye view…
- …we picked up our keys for the new apartment yesturday. I am so excited. When checking out the apartment it became clear to me why we were able to decrease our rent by $300 per month. The apartment is not bad, it just isn’t as polished as my current apartment. In my current apartment I was definately paying for “cool”. We will ge the new place decorated and it will most likely be more homey than the current.
- …Apartment Therapy will start as soon as we get our stuff moved on Monday. I have arranged for one of my co-workers to come to my house to lend her decorator’s eye. I will have pictures of the old and new place next week (I hope!)
- …the touchscreen on my phone when out this month. The phone was 2 years and 8 months old, so it wasn’t a surprise. Sprint couldn’t do anything for me since I was out of warranty and I don’t have insurance on my phone. I decided to go ahead and take advantage of the upgrade and get the HTC Touch Pro2 for $199. This was definately not in the budget. Since I don’t pay for insurance, I have decided to start putting money aside each month to go towards a Cell Phone Replacement Fund…LESSON LEARNED.
I looked at the Epic and EVO, but my area doesn’t have 4G coverage and they wanted me to pay an additional $10 per month for “cool”. By “cool” i mean that the extra fee is for an enhanced experience. No one at Sprint can explain why they are forcing their customer to pay for something that should be optional.
- …I was recently accepted into an entreprenuership program that is going to guide me through the process of getting my Financial Coaching business off the ground. It starts next Monday. Only 15 of 47 people where chosen to participate, so I am very honored. The cost of the program is $1250. I will write it off on my taxes and I intend to make that money back with the business.
- …Customer Service is lacking in every area of work and personal like. I would like to start my own chapter of P.A.L.S (People Against Lousy Service). If you don’t know what I am talking about, check out this Cox Communications commercial.
- …Work has been specifically challenging. The work is easy and boring, but the enviornment and political relationships have been difficult to manage. I am tired of being worried about what people think, especially when they don’t take time to do their jobs. They spend all their time putting on a show. I have been looking for new opportunities and have had two interviews. The first was last week and it was with an manufacture. The interview went well but the jobs/company is not a good fit for me. Yesturday, I interviewed with the city. Why don’t I already work for the government?! ( I will write more later)
- …The switch to ING is coming along, but I don’t know if I am going to love it as much as I love BOA bill pay. I am going to see how it works between now and the new year. If I am not loving it by then, I will go back to Bank of America.
- …the half-marathon and fundraising went well. I found out that the local chapter of Team In Training charged my account without calculating in my $250 alumni credit. Sometime I just wish they would get it together at that office.
>The past week or so has been so crazy that I find myself sitting at home not wanting to go anywhere on Saturday night. In the mist of everything going on my money management has taken a back seat to other things. This is not a complaint just a laundry list of updates.
- Fundraising for my half-marathon is complete. There were several hiccups at the end of this jounery and I thought I wasn’t going to meet the minimum $3200 and my savings account would have been hit for the difference.
- Last payday I paused extra payments on my student loans and directed them to a savings account for moving expenses. We are moving in 3 weeks. Boy am I ready for that to come and go.
- I found an error in my budget spreadsheet after my account overdrafted. This error has been corrected for future use.
- I have been a little lax on some money I have sitting in a checking account. By lax I mean I have eaten out a little more often and picked up some very unnecessary things.
- My former boss accepted a position in my group, so I started an active job search this week. This has been in the works but this was the kick in the butt that I needed. The company I work for is fine, but my desires make the company a not so good fit for me. We will see what happens.
- I applied to participate in a local entrepreneur program on Monday and found out Wednesday that I was invited to go to the next round with is interview. I have to prepare a 2 minute speech on what it is I would like to do and then answer questions for 13 minutes. I am very excited and home to be 1 of the chosen 15.
- My dad is getting married in 3 weeks (yep…the weekend I scheduled to move). He has yet to tell/invite me. I know because he asked my brother to be his best man. His whole situtation is a tad ridiculous. I feel sorry for him because he does not seem happy. It appears that he is comfortable and content, but not happy. I am with Tyler Perry…”I can do bad by myself”. No one should have to settle.
- My Sweet Treat fundraiser has gone from a fundraiser to a side hustle. Not sure how it will be structured but I will continue to bulid this boat as I row it.
- The FPU class I am coordinating is going to be fun. There are 4 ladies attending and they are all very open and dynamic.
Hope everyone is having a great weekend!
>It is official. The regional manager for my complex reviewed my request and advised the property manager & staff of what was approved. She sent me an email stating that they would call me to review the offer. I never heard from the staff, so I called around 5PM. The guy that I spoke to acted like he had no clue about what was going on, but at the same time tried to appear informed. This guys behavior was a nice reminder of how much I hate the customer serviced offered here. They are the worst.
Eventhough, I did not get them to lower the rent to where I wanted it to be I feel like I won. My goal was to get cheaper rent, which I got, but I wanted a much bigger savings. In the end I will be moving to a complex 1 mile down the street and it will save me (and brother) about $5000 over a 15 month lease. This is after moving expenses.
On another note…I finished my “Sweet Treats” for the fundraiser. It was a hit and I raised about $500 after cost of materials. This includes additional spending to make up for big and small mistakes. The people really liked them and now more people are try to make orders. Lucky for those people I will be baking them again in mid-September. I am playing with the idea of using this as a side hustle…maybe it may turn to a business. We will see, but how cool would that be!?
Your thoughts?
