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Financial Housekeeping and Old House Stuff

June 1st, 2012 at 04:00 am

Today I sat down with the last four books of checks and entered everything into my spreadsheets. I have been remarkably lax at doing this lately. Though I balance in the checkbooks themselves, I like to have a copy on the computer, too. I finished updating the information on the April Budget Spreadsheet and entered in everything on the May Budget Spreadsheet, then I set up the June Budget Spreadsheet. I still need to transfer everything medical off the budget spreadsheets to the HSA spreadsheet, but that should be relatively simple since it's now detailed on each month's spreadsheet. I really need to stay on top of that better.

I sent some money to ING, including things that are either paid for bimonthly or half yearly:

$100.00 to the Emergency Fund
_100.00 to the Vacation Fund
__72.00 to the Holding tank for Water/Sewer
_100.00 to the Holding tank for Property Tax
+_17.00 to the Holding Tank for HoA Dues
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$389.00 total to ING

This is all out of last Friday's paycheck. Then I wrote down all of the bills that are due between now and the 15th, which will be our next payday after the one tomorrow. The one tomorrow is the small two day paycheck. How small it is depends on whether or not they take out June's medical. Usually they take that month's medical out of the first check earned that much, but for some reason, every once in a while they take it out of the first one paid of the month. So it could be anywhere from $800 to $1325.

I have $1200 left from last payday and the bills due between now and the 15th total $1006. I'll keep back about $300 for groceries and miscellaneous expenses. Whatever else it left over goes to the BoA VISA. It will at least be $500, but I am hoping this is the amount without medical, because then I could send a lot more to the VISA.

I know I said I would never do business with Chase again, but they keep sending DH these really good offers. This last one is a no-fee balance transfer and a 0% interest rate until August of 2013. It sure would be nice to get the interest off the BoA card and just be using it for the autopays and DH's travel expenses that we pay off every month. We would only use the Chase card for the balance transfer and then pay it off fast with no interest incurred.

When I thought we'd have it paid off by the end of this month and we would have had to pay a transfer fee, it wasn't going to be that big a deal, but now that we will likely have the balance until the end of the summer, it's worth it for three months without interest. And then we can cancel the card when it's paid off. I guess I'm okay with using Chase so long as they are not using me. And I can deal with their crappy customer service (or hopefully never have to) if it means no interest.

We had a cleaning service out to the house today. They will need a couple more days out there, but that will have to wait until the next time DH is home. I don't want to be making that drive twice in one day to unlock the house and turn off the alarm and then go back and reset it in the evening. But we will get it scheduled for the Thursday after DH gets back. Then we will need to get the carpet shampooed.

After that I'm not sure. We might be ready to sell it As is/Where is, as in "you take it as it comes and you fix anything that is wrong with it because we are done." Doesn't matter what they find on the inspection, doesn't matter if it needs to be painted or a new gutter put on or whatever. As is/where is, and it will be priced accordingly. I just want it gone, enough to pay off the mortgage, which will be just under $17K when I make the payment tomorrow, and have some money to go to a good downpayment.

We bought it for $65,000 in 1998 and it's assessed at around $110,000 and I'd honestly be happy at this point to get what we paid for it. Sure I'd like more, but you get what you get in this market. Once it's sold, it will free up each month:

$375.86 mortgage
__72.00 water/sewer
__41.25 house insurance
__20.00 power
_100.00 propane
+_44.89 phone for the security system
-----------
$654.00

and then when we move out of Mom's and into our own place we will have:

$154.00 from storage
$300.00 for the utilities we pay for here
--------
$454.00

$654.00
+454.00
---------
$1108.00

So $1108 freed up just by getting rid of that house and moving out of this one. I think that's worth a loss if we have to take one. And once the credit card is paid off there will be another $2000 a month free and clear. So $3108 will be available for house payments and running a household. And since we are looking at 1500 to 1600 square foot houses in the $219,000 to $250,000 range our house payment should only be around $1200 a month. More than enough to run a house and put some money in the EF. I really can't wait for that day to come. I am sick of throwing money away.

Oh, and our debt to income ratio is now under 45% so we will qualify for the really good mortgage loans when the time comes. Actually once that mortgage is gone and the credit card is gone we will be around 25% and that will put us in great standing.

2 Responses to “Financial Housekeeping and Old House Stuff”

  1. Looking Forward Says:
    1338680068

    Really looks like getting rid of that house will be great for you.

  2. LuckyRobin Says:
    1338705787

    Yes, it would. I hope it sells. I'm more afraid it will languish on the market than anything.

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