Parting The Sea of Red

This week brought a victory for me: my credit card balance is at zero!  This is really, really, really great to see:   So, now comes a necessary pause in my debt reduction.  In Financial Peace University, the three initial “baby steps” are 1) Put a $1,000 emergency fund in savings, 2) Eliminate debt and 3) Put money to cover 3-6 months worth of expenses into savings.   As I mentioned earlier this month, I had put away $1,000 right when I finished FPU, but a rough financial year quickly drained it.  With a low salary and high credit card payments, I simply could not pay my bills each month and have enough left-over to save.  When I was offered a decent-paying summer job, I decided I was going to get rid of my credit card once and for all and eliminate a $100-$150 monthly bill, and use the money saved to build up my emergency fund.  Granted, if I had built up the fund first, I wouldn't have gone back into debt when I went two weeks without a paycheck or ...

Budget.   Unless you are a professional in the finance world, it’s kind of a scary-sounding word.  Can I really, accurately plan how much money I am going to need every month?  What if I mess up?  I have a feeling I'm not unique in that I put off budgeting for years because I was so afraid of doing it wrong and because of previous bad experiences (my parents tried to plan my budget for me one semester in college.  Long story short, they didn't realize how much the cost of living- even for a college student- had changed from the 1960’s until the 2000’s.  Unless you have a parent who is a certified financial planner, budgeting is something you have to learn to do on your own!).   Financial Peace University gave me some guidance in their workbook, and, while I had to make some adjustments to fit my own life, it was still a good base to work off of.  First, I had to make a list of my monthly bills:  -Rent: $830 -Phone: $100 -Utilities: $50 (give ...

So, I started this blog fresh out of graduate school- and then teacher-life took over and I put it on the back burner.  The New Year seems like a great time to revive it!   Summary of life between last entry and now: 2014-15: Lived communally with three other adults and the cutest baby ever.  Taught in a suburban school district.  Finished my Master’s Degree.  -My 1996 Oldsmobile became unsafe for commuting.  I called my dad at one point to seek advice, and he and my mom promptly went out to buy a new car for my mom, and then drove up the next day to give me my mom's old car (which should last several more years). I have awesome parents.   -Moved out in May as planned, found an apartment of my own.  Unfortunately, the cheapest apartment available is still pretty pricey.  -Was laid off from my teaching position the day after I signed my lease.  Ugh.   Summer 2015: Traveled to Mexico to visit a dear friend (tickets had already been bo...