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Viewing the 'College Fund' Category

Payday Round Up, EF Update, Funds Update

August 28th, 2013 at 12:15 am

I've been paying things in dribs and drabs this week, but thought I should do a full accounting.

$700.00 Mortgage
__90.00 Physical Therapy
_100.00 Emergency Fund
_100.00 Moving Fund
_100.00 Laptop Fund
_100.00 Christmas Fund
_144.00 Water/sewer Old House
__49.91 Propane
__28.52 Medical
_175.00 Medical
_853.09 AMEX
__40.00 Allowances
_200.00 Cash (groceries, OTC meds)
---------
2680.52 Total Out

I added $100 to the Emergency Fund so it is now at $6044.92, so I have met my goal of $6000 in the EF by the end of August.

New Fund Totals:

$565.61 January Money Fund
$505.21 Appliance Fund
1800.00 Laptop Fund
$600.00 College Fund
$500.00 Hawaii 2018 Fund
$400.00 Property Tax Fund
$500.00 Christmas Fund
$100.00 Moving Fund
$000.00 Propane Fund

I had the money set aside for half the water/sewer bill and the propane bill, but I paid them directly out of this paycheck. Then I transferred what I had set aside to the January Money Fund. That was $121.91.

And I think that covers it.



New Fund Totals

August 3rd, 2013 at 11:08 pm

$400.00 Property Tax Fund
__19.00 Dues Fund
_300.00 Propane Fund
_500.00 Hawaii 2018 Fund
_505.21 Appliance Fund (Freezer)
_444.11 January Money
_600.00 College Fund
_700.00 Laptop Fund (DH Replacement)
1000.00 Laptop Fund (DD)
_400.00 Christmas Fund
-----------
$4868.32 Total Funds in Funds

And I also have $19 and $72 set aside for garbage and water/sewer which are paid every two months.

Payday Accounting, Ranch Trip, and Family Reunion

August 3rd, 2013 at 11:01 pm

I paid the majority of the bills for the month from this paycheck and sent money to all of the funds. I need to create two new funds though. One for the transfer fee when we sell our house (in case we are the ones who have to pay it and not the new buyers) and one for the Thanksgiving turkey. Don't laugh. Organic pastured turkeys are expensive.

We went down to the ranch today and bought meat. We ended up with 4 beef chuck roasts, 1 pork shoulder roast, 8 pork chops, 1 bottle of their seasoning (which they threw in for free) and 18 pounds of hamburger for $300. They had some stewing hens for $7 each and I was really tempted, because old hens make the best broth, but I decided I'd rather spend that money on hamburger. And I knew I'd be making rabbit stock on Monday anyway.

We also went to a family reunion for a few hours before going to the ranch. It was okay. It's DH's mother's side of the family. Not too many people showed up this year. I got to see how big some of the babies have gotten and one of the cousins is pregnant. I was kind of bored because the people I usually talk to weren't there.

We swung by the house since it was sort of on the way back home. It's rather gorgeous inside, but...but, but, but, the stuff that was supposed to get done today did not get done. The new gutters are not up, the shed and play structure still have not been painted and the touch ups on the porch and on two of the outside walls where other paint colors show up haven't been done. I don't even think any of them worked today. *sighs* I will be so glad when this is really over. It was supposed to be done today. Not even close.

Anyway, here's the money out for this payday:

$1000.00 to BoA (will pay more next week)
__300.00 to Mom for August utilities
___24.05 Electric (Old House)
___44.87 Phone (Old House)
___72.56 Internet
___19.00 Garbage (Holding Tank)
__100.00 Hawaii 2018 Fund
___19.00 HoA Dues (Old House, Holding Tank)
__100.00 Property Tax Fund (Holding Tank)
__225.00 Monthly Family Chiropractic Care
__100.00 Propane Fund (Old House, Holding Tank)
__100.00 College Fund
__100.00 Appliance Fund
__100.00 Christmas Fund
__100.00 Laptop Fund
__300.00 Beef Fund
__100.00 Cash for week
___40.00 Allowances
__757.82 Car payment (plus extra)
------------
$3602.30 Total Money Out

I feel like we are really staying on top of things right now. I will still need to buy some produce, but we shouldn't need to buy meat for 6 to 8 weeks. I don't envision any other spending this next week.

Payday Post, EF Update, College Fund

July 12th, 2013 at 04:33 pm

Today is the small payday, but only a little comes out of it since all bills are paid for the month.

$100.00 College Fund
$100.00 Extra to the Emergency Fund
$100.00 Extra to the Laptop Fund
$140.00 Allowances and Cash for Week
----------
$440.00

That leaves me with $488.10 to get through the next two weeks. This should not be a problem as there are no bills due until the autopays the first week of August and we get an extra paycheck on the 26th . DH and I cleaned out one of the freezers last night and found plenty of good meat to base meals around for the next two weeks. We should only need to buy vegetables. There is plenty of fruit that needs to be picked in the garden so I shouldn't have to buy fruit at all.

Besides the $100 extra added to the Emergency Fund, there was also $38, $10, and 28.99 added from various sources this week.

$5257.65 Beginning EF Balance
__100.00 From paycheck
___10.00 Auto Transfer money from yesterday
___38.00 HT Money
+__28.99 Money left in checking from last payday
------------
$5434.64 Ending EF Balance

I have $65.36 left to come up with to hit my July goal of $5500. There are two more auto transfers this month, so that brings it down to $45.36. I have $16 in ones saved in my coin jar, so that brings it down to $29.36 to come up with still by the end of the month. That shouldn't be a problem.

The College Fund now sits at $500 and the replacement Laptop Fund also now sits at $500. DH is still babying his laptop along trying to make it last as long as possible so we can completely save up for a new one first.

The College Fund will get a large infusion when the Christmas Bonus comes and again when we get our tax refund next year, because we have a lot of HSA spending we can deduct. I don't know if we'll max out the HSA this year like we have the past two years, but it is possible. It will come close. Meanwhile I will save $100 every 4 weeks. It will cost about $10,000 a year including books and fees at the local state university or $7000 a year at the local community college.

The Christmas Bonus is supposed to be quite large this year due to the number of Capital projects done. Not really sure what quite large means, but it should be closer to what he got the first year and not what he got the second year. I am not counting on anything at all, though. I know that if necessary we can do it just on the tax refund and what we are saving alone. The bonus will just be gravy.

Fund Updates

July 7th, 2013 at 12:56 am

Funding Update on the Funds

$127.00 Dues Fund
$300.00 Property Tax Fund
$200.00 Propane Fund
$400.00 Hawaii 2018 Fund
$405.21 Appliance Fund
$400.00 College Fund
$400.00 DH's Laptop Fund
1000.00 Daughter's Laptop Fund
$300.00 Christmas Fund (Plus $155 Amazon GC's)
----------
3532.21

Payday Post

July 7th, 2013 at 12:50 am

Friday was payday and here is an accounting of the bills that went out and the funds that got funded. Oh, but first, we splurged and got burgers, milkshakes, fries, (the kids and DH) and fish and chips (me) from Boomers, an old-fashioned drive-up restaurant with carhops and everything. We won't be eating out again this week, though. it cost $40.98. They have really good fish and chips. Well, the cod is really good. The halibut is only good. Best burgers though, anywhere, ever.

Okay, so the money out:

$1700.00 BoA VISA (mostly work travel expenses)
___36.26 Electric Old House
___44.87 Phone Old House
___70.56 Internet
___19.00 Garbage (Holding Tank)
___19.00 HoA Dues (Holding Tank)
___72.00 Water/sewer Old House (Holding Tank)
__757.82 Van Loan (plus extra)
__100.00 Property Tax (Holding Tank)
__100.00 Hawaii 2018
__100.00 Propane Old House
__100.00 College Fund
__100.00 Christmas Fund
__100.00 Laptop Fund
___40.00 Allowances (plus bonuses)
__100.00 Cash for week
------------
$3459.51 Total Money Out

Payday Entry

May 31st, 2013 at 05:00 pm

So I added the $40.50 in the coin jar and the $31.96 leftover in checking to the EF. Along with the June deposit of $100, which I made today even though it's not June yet, bumps the Emergency Fund to $3844.78., so the normal goal would be to scrape up enough to get it to $4000, but since DH has overtime, June's goal is $5000.

I went ahead and funded my funds as usual today, even though I know that eventually that money will probably be wiped out for the Wisconsin trip. But I'm keeping it in the funds sections anyway until we know either way what is going to happen there. Available fund totals are now $1300 ($1000, if I don't count the meager college fund). This does not count the property tax fund or the propane fund, or any other fund that is a bill paying fund for bills not paid monthly. We'll only be taking from the non-essential funds like Christmas, Laptop, etc.

Here's what came out of today's paycheck:

$300.00 to Mom for June utilities
__90.00 Physical therapy
__39.53 DH Life Insurance
__32.70 Me Life Insurance
__66.62 Car Insurance
__45.67 Old House Insurance
__41.16 Old House Security
_168.00 Storage
_600.00 Mortgage ($224.14 extra to principal)
_100.00 Cash for week
__30.00 Kids Allowances
_620.64 AMEX (gas and eating out)
__72.00 Water/sewer Fund
_100.00 Emergency Fund
__19.00 Garbage Fund
_100.00 Hawaii 2018 Fund
__19.00 Dues Fund
_100.00 Propane Fund
_100.00 College Fund
_100.00 Laptop Fund
_100.00 Christmas Fund
------------
3165.77 Total Paid Out

I have $241 in checking, msot of that will go for groceries and over the counter medicines to restock up after the three of us were ill.

When the mortgage payment hits the remaining mortgage will be under $12K. I am excited. $10K left seems closer than ever

Oh, I forgot, there was also a medical bill of $157.41 for my daughter.

Payday and Musings

May 10th, 2013 at 07:58 pm

Okay, now for all the things that went out of this paycheck.

$1000.00 to Mom
___90.00 Physical Therapy
___35.42 Electric Old House
__757.82 Van Loan (plus extra)
___51.78 Garbage (one extra can this month)
__212.71 Medical
___41.78 Security Old House
___72.56 Internet
__225.00 Monthly Chiropractic Family Plan
__105.00 Propane Fund
___19.00 Dues Fund
__100.00 Property Tax Fund
__100.00 College Fund
__100.00 Appliance Fund
__100.00 Christmas Fund
__100.00 Laptop Fund
__100.00 Vacation Fund (Hawaii 2018)
___28.00 Kids' Allowances
___75.00 Three NZW rabbits from different bloodline
__100.00 Cash for the Week
------------
$3414.07 Total Paid Out

We are down to owing Mom $72,000. That means 6 years left to go, if we continue on the repayment of $1000 a month. It will be gone when we are both 49. Our van will be paid off well before that. After that is paid off we will work on paying off the mortgage on our small farm that we plan to buy once our house sells. And also play mega catch up with retirement. We want to go into retirement 100% debt free, which will make it easier to get by on less. As will raising our own meat and growing our own produce as much as possible.

It feels like we are finally starting to really pull ahead as I plan for future needs and am able to set the money aside each month. We are two paychecks ahead of our bills now and we have half a month's income in the Emergency Fund. It's getting there and each small step I take has built on the last one. Some people may scoff at $10 here or $5 there, but I know. I know from experience that it is the little things just as much as the big things that get you there.

Updating Funds

May 10th, 2013 at 05:35 pm

I added $36 to the Emergency Fund today. It was what was left in checking when the new paycheck hit. That brings the EF to $3642.32. I'm going to bump my May goal up to $3700.

I also funded some funds today, which I'll put the amounts in my payday post, but I thought I'd post my fund totals.

$1000.00 in the Mac Book Fund
__200.00 in the Laptop Fund
__200.00 in the Christmas Fund
__200.00 in the College Fund
__100.00 in the Appliance Fund
__200.00 in the Hawaii 2018 Fund
__100.00 in the Property Tax Fund
__305.00 in the Propane Fund
___89.00 in the HoA Dues Fund

We've got a long way to go on some of these, especially the College Fund, but we will be putting the Christmas Bonus in, as well as most of the tax refund next year (which is ridiculously big because of our HSA that we always manage to use all of).

The Christmas Fund will be augmented by the Amazon gift cards I get from swagbucks. DH's Laptop is limping along and hopefully will continue to do so until I've got the replacement money in place. DD will be getting her MacBook (or equivalent laptop) in August. She's taking some graphics intensive classes next year as a senior. The Appliance Fund is currently earmarked for a chest freezer. Property tax was just paid last month. Propane Fund is just a holding fund until the bill comes and I pay it.

All in all, things are going along pretty smoothly in the Funds department.

It's Been a Dime Finding Kind of Month

April 26th, 2013 at 02:20 am

Yesterday I found another dime. I think this is the fourth dime this month. This one was in terrible condition. It was so dirty I barely saw it. It blended in with the dirt. I found it about a foot from where we store out outdoor garbage bin.

I added $9.44 to the coin jar today. Today was also the day of the $10 auto deposit to the Emergency Fund so that brings the balance to $3,423.75, making me $31.25 short of my April goal of $3455. I have a deposit ready to go of $41.25 from the coin jar that I will deposit tomorrow, so I will hit my goal with an extra $10.

Because I managed to save $210 to the Emergency Fund this month, I am going to set my goal for May to save $220 and get my EF to $3685. If I find that easy enough to do, then my June goal will bump up another $10. I might just start doing that each month until it hurts and then back off one.

If I can manage to do that until December I will have $5505 in the EF, plus whatever piddly interest Capitol One 360 puts in there. Since my goal for the year is to have it at $5000, it would be great if I can achieve the higher number.

DH says that there should be big bonuses this December because of the size of the projects being worked on. There will be higher profits to be passed along. The smaller bonus this year was because they had smaller projects last year. He says with the size of the project we should see a bonus like double or triple the one he got after he'd been employed for them by a year. I am hoping that is true, but I won't let myself get my hopes up so high like I did last year.

Plans for bonus money is to set aside $2500 off the top for the medical deductible of 2014 and stick it in our HSA. Anything after that goes into college savings. Same for our Income Tax Refund. Straight into the college fund. These monies will primarily be for DD to go to community college, but DH can use it to when he decides he is ready to go for his B.S. in Electrical Engineering via an online university. The same one he got his A.S. from in Electrical Engineering. He also has an A.S. in Architecture. Or maybe it's an A.A. Is Architecture an art or a science? Because you are drawing...

Hopefully those monies will be large enough to pay for college, or a good portion of it. Hopefully we will have our farm before she starts college. DD will be taking a business class and be running one of our farm businesses, probably the rabbit end, with any profits not used for expenses going into her college fund and a small monthly salary. DS will help run one of the other businesses, likely the egg business, and will draw a small salary from that while the rest goes into his college fund.

I'm going to have to look up small business law and farm law and how hiring your own children works for a small business. Or maybe I'll have DH do it. That's the boring part, plus he had a small business once so he knows where to go for the answers.