Money on My Mind
Almost half the year is gone and I feel like I haven’t accomplished a thing. With the state of our economy, stock market swings, a lateral career move (bad for advancement but good for my sanity), and a crisis that turned my personal life upside down - my finances have been on cruise control and managing themselves. Since the half way mark is upon us, I figured it’s about time for me to jump back in and dust off the cob webs.
Let’s see what I’m working with…
Emergency Fund
I bumped the ceiling from $15k to $20k. Thanks to the months with 3 pay periods, I only have another $1,040 to go. If all goes well, that should be a wrap by the mid-summer.
BabyGirl’s College Savings
I’ve been living in VA for over a year, so I’ve had more than enough time to decide if/how/when I should rollover her 529 account to one of the VA plans. Last year, I was still able to take advantage of the $2.5k MD tax deduction because I still had MD taxable income. But this year, the MD plan won’t benefit me at all. Although it is considered one of the best 529 college savings plans, with regards to funds options and expense ratios, this VA 529 also gets kudos. I think it’s about time for me to rollover. The question is when.
Can we say Master Procrastinator?!?! But it gets worse…
Non-Retirement Investing
I need to get serious about investing outside of my retirement accounts. I set a $5k goal for the year and haven’t done much of anything yet. When it comes to my money, I’m not usually one to say I’m going to do something, then don’t follow through. I’m disappointed in myself. But you know what, disappointments are motivating. After I finish with my emergency fund, I’m going to save $3k to open a Vanguard account. Wait, is that just another reason to procrastinate? Yea, I know. Shyt or get off the pot!
I will in a minute, but I have something I want to complain about first…LOL
Economic Impact
Groceries: why are they so damn expensive? During my last 3 trips to the grocery store, I spent $90+ each. Buying the same kind of food as usual, but the total bill is at least 20% more. Da hell is that all about?
Gas: with regular unleaded hovering $4.00, I pay ~$50 to fill up. Typing that seems unreal. Just two years ago, I freaked out when it cost me over “$30″ to fill up. Ha! That’s pretty funny now.
Digital TV: don’t forget, your television signal is converting from analog to digital in February 2009. Remember those $40 digital converter coupons from the government? I received mine in the mail and it expires June 10th. I completely forgot they were only valid for 90 days. The converters are estimated to cost between $50-$70. Guess I better scrape up $10 and go find me one. Less than 30 days left.
Economic Stimulus Rebate: when I consider how much my expenses are increasing, I think I should ask Dubya for another $900. Imagine my phone call to the White House. “Hey what’up mayne. You know that first check you sent me? Yea, let’s consider that one back pay. Now lemme hold suttin for real. Huh? What? Dafuggouttahere! If I bend over anymore, I might feel the economy stimulating ME!!”
I may have donated over 1/2 of my stimulus check, but let’s see how I’m really stimulating the economy…
Nonrecurring Expenses (current through July)
- $700 - Vacation(s) spending money
- $500 - Orthodontist
- $410 - Car insurance premium
- $200 - BabyGirl’s birthday
- $150 - Annual vet appt
- $100+ - Auto registration renewal
- $100 - Brother’s birthday
- $100 - Friend(s) birthdays
- $60 - Annual checkups
- $55 - Rental Ads
That’s almost $2,500!! Now how the heck am I supposed to pay for all of that? Oh yea, that funny thing called a pay check…
Pay Day
My first payday on the new j-o-b had me seeing fireworks. One. The amount was wrong. And Two. I can see my money but can’t touch it. Now aint that about a b!tch! The CSS is blaming USAA and USAA is blaming the CSS. Yo, check it. They got 24 hours or Single Ma is going to S.N.A.P. Didn’t y’all tell ‘em? NEVER…I mean never EVER ever…fugg with a black woman’s money!! *WOOOSSSAAAAHHH* LOL!
Ok, back to bidness…
Wait, did I tell y’all Starbucks is right next door to my new job? I’ve spent $33 already and the month isn’t over yet. Lawd, aint nuttin but the debil! Y’all pray for me while I revise my spend plan for the month. Which reminds me, I needz my money. I’m about to make another call to HR.
*putting on my sweet talk voice*
What? You aint know? This my money we talkin’bout. LOL
I’ll holla!
~*~*~*~*~*~Work to achieve, not to acquire.
And as always, BE FABULOUS!
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Gurl,
I so enjoy reading this blog. It lets me know that everyone has to somewhere and I’m at the beginning. It’s encouraging to read your musings. And I don’t which voice I would use if I couldn’t access my paycheck&(*&(!
I like your articles and usually attain useful information from them (or can related to what you’re blogging about), but sometimes I can’t understand your language.
Aight this is SCARY as all hell CAUSE I starting typing a post on my damn blackberry similar to this!!! hahahaaa basically between GROCERIES & GAS I’m broke.. WTFudge..
LOL @ english major who can’t understand your language.. I’M DONE!
OK first - I feel you on those upcoming expenses. And the groceries. And the gas. And that doggone converter, which I have less than 10 days to go and get. You know they’re going to pay you. I just hope it’s today! Oh, and bless English Major’s heart. That said, your vernacular IS readily understandable to me as my language, just maybe not err’body else’s. And: I’m more concerned about the effect of lots of Starbucks on our hips than on our wallets… just some food for thought.
@ English Major:
I’m not sure what you’re trying to imply here about Single Ma’s language, but remember this is her personal finance blog, so she can talk however and whatever the hell she wants. But at least you are “attaining useful information” so you understand SOMETHING.
You and I are on the same page. The year is nearly at the halfway mark and I haven’t done ANYTHING I had planned to do (except pay off that dang card. Thank you Jesus for that).
@ English Major: what language do you think she’s writing in??
SM-this line: “If I bend over anymore, I might feel the economy stimulating ME!!” almost made me spit out my water onto my keyboard!!
I feel you on Starbucks, I try and try to resist them but I can’t seem to cut back to anything less than 3x a week. It’s sick, it really is
Gas and groceries, outta control!!!!!! Gas is really killing me since I love my car and love to get up and go whenever I want. I can’t believe that I’m getting excited when I track down a $3.65/gal gas station.
Lady V,
I wasn’t “trying to imply” anything except what I said; that I sometimes didn’t understand her language! (I’m assuming it’s Ebonics, which I wasn’t raised on and wasn’t around growing up.) Of course she can talk (type) however she wants, and I wasn’t trying to be offensive about it. I will continue to enjoy the column and try to understand it. So no need to get nasty about it!
Thanks girl, I needed that this morning. Wiping my eyes at the thought of you without a paycheck and someone to blame. Can I watch, or at least listen to a tape recording?
Don’t be so hard on yourself…this year threw you some curves. The beauty of the plan is that there was no back sliding…you didn’t all of a sudden find yourself in DEBT you couldn’t explain…hey, take the victories where you can.LOL
I have also have money on my mind. Things are going pretty well on the goals, despite the price of take-your-pick. We are within $15K of your bottle of Moscato!
1. “Hey what’up mayne.” DEAD!
2. :::gives english major the side eye:::
3. Please allow me to chime in about the high grocery prices. Why did I have $75 worth of gift cards to use at the grocery store and STILL had to pay $100 for groceries? For ONE person?!? I really, really need to the government to stop lying about inflation and the Fed to get on the stick and DO something about it. Thankfully, I live in a major city and take public transportation to work every day. I drive to the train station, but it’s a short ride. I can walk to the station it it gets to that point. It would just suck on days with bad weather.
Hah, you crack me up. I’ve got a lot of this on my mind on a much smaller scale, too. Groceries, man!! Ry-di-cu-lous!
oooh single ma be careful of that crackbucks!! the moment you go cold turkey…migraines from hell will come and haunt you *cue scary background music*!! lol…well, it did for me anyway :P. but at least it was another good reason, both financially and health-wise, to cut back on the mochas, machiattos, frappaccinos, etc.
Starbucks is brutal!! I can’t seem to go in there without buying food either!
One way to save a little money is to use a travel mug there - you get a 10 cent discount for using it. Not much but better than nothing!
Hey SM -
Congrats - I have debt free goals.. I have been reading for over a year ..and I have done nothing — with the economy in the state its at… I need to really get busy (did I mention, I work at an economics consulting firm… I surely know better)
I am going to get myself in order —
Capricorns!! (I am currently working on a post similar to this one. Money definitely been on my mind.)
Folk messing wit ya money??!!! Need me to chop any necks for you girl? Let a sista know.
Starbucks is like liquefied crack. Try and quit it and you gonna be looking like Tyrone Biggums. LOL!!
I had to increase my grocery budget to accommodate the increasing food prices. And I don’t even wanna get into gas.
smh @ English Major and “ebonics”
ok, so I’m not crazy……I went to the grocery store today after work to get a bag salad and came out with:
bag of baby spinach
dozen medium eggs
breyers yogurt w/granola
frozen shimp poppers
and my total was $14 bucks…….that’s just crazy……
I’m gonna steer clear of that “ebonics” comment. My karma points are runnin’ low…LOL
This post is so timely! My money’s been on my mind, well, since my divorce was final this past January. I recently received a promotion at work ($10k more per year), but I honestly have no idea where it goes. I have the exact same expenses but somehow no more cash!
Between gas (now above $4/gallon…I’m in Chicago), food, dry cleaning, and my daughter’s expenses for school, there’s very little left. I take my lunch now more than I ever did because lunch downtown Chicago is easily $10/day, and that’s not even the higher end places. I use coupons when I grocery shop, and for just my daughter and me, it’s easily $90+ each trip. (I do eat very healthy and buy only healthy snacks for her). I also shop at Whole Food’s (at work we call it Whole Paycheck), but that’s only after I’ve picked up the basics at the regular grocery store first. My only indulgences for myself are regular manicures and an occasional pedicure and trip to my hair stylist. And that’s only for a wash n’ blowdry and when needed, a trim.
And I LOVE Starbuck’s but even that’s not an everyday occurrence in my world. (Unless someone’s given me a gift card!) I do frequent Dunkin’ Donuts every morning ’cause I love their coffee and they always have good coupons!
Thank goodness I have a 529 plan that I started for my daughter when she was 6 months old, a 401k, IRA, and a few other assets. But what I’d really like is more disposable income (without having to get a 2nd job; my daughter is only four!) What’s a woman to do? What’s anyone to do? I have no idea how low income families and other single parents are making it.
Speaking of Starbucks - did the caffeine happen to hit you towards the end of the post? LOL!!! Its ok SingleMa - we all have pitfalls and crap like that, but you know what, just gotta pick yourself up, brush the dirt off your shoulders, and go forward. You’re pretty fabulous, so i’m sure you’d stride ahead gracefully!
And I feel your pain w/ the Starbucks - do you realize how many different ones I see a day in NYC?!?! There’s two in my building alone! Crazy!
Thank God I don’t like Starbucks coffee… I go meet a friend at Starbucks on weekends to do some programming and from my house there was one on each block! I keep thinking they have to be over saturating the marketplace, but they are always packed!
SingleMa, you def gotta get on board the Non retirement investing! I am starting down that path now too and it’s crazy! So many options and a LOT of advice out there!
BTW: Don’t change your tone or manner of speaking one bit! You are a gifted writer and you always get your message across. If some readers can’t understand you, they are free to find a boring blog to read.