You are currently browsing the monthly archive for October 2008.
As far as personal finances go (ignore the stock market), October was pretty fabulous. I didn’t set a lot of goals this month, but I did achieve the two I set. For the first time since I started this blog, I got 100% on my goals!
1. Get all “Short Term Savings” funds above zero and at acceptable levels to meet the rest of the years needs.
- Gift Fund: Increased from $149 to $318, leaving me with $418 to buy Christmas presents with ($100 budgeted in November). I’ve estimated I need $415. Perfect!
- Travel Fund: Increased from -$302 (don’t ask) to $0, while paying another $113 in travel expenses (for cousin’s wedding)
- Clothes: Increased from -$108 to $0. In bad news, I also spent $150 in this category! ($88 on two pairs of pants, $25 purse, rest on tights, jewelery for wedding)
- Car Fund: Increased from $110 to $320. Still a little low, but acceptable
2. Save $1000 in E-fund for the month, to make up for previous months slacking.
- Increased by $1,225, plus interest!!!!!
If only I could get three paychecks every month…
For November, my goals are going to be similarly simple.
- Add $650 to Efund. This is more than a usual month, but in line with my recent budget adjustments (basically, halting all other savings).
- Get my student ID. I counted this as done when I sent in the form, but nothing arrived. Drat. Must figure out what happened.
- Buy at least 3 Christmas presents. I’m a horrible procrastinator when it comes to xmas shopping. Either that or I’m just really busy. I’ll pretend it is the latter.
Other hopes and dreams include rocking my midterms, figuring out all this CRAP at work (eeek), nagging reminding T to figure out whatever it is he needs to for housing, develop lifelong career plan (yeah right), celebrate thanksgiving, go on a hiking trip, keep up in my classes, rock my performance review, etc., etc.!!!
Official net worth report will be provided saturday, because I insist on counting the interest that accumulates and any last minut stock market fluxuations.
I’m going to do a sort of “goal snowball” to get my Emergency fund to $15k by the end of the year (or at least, by January 2009). Typically, I approach my goals in a balanced way, giving the most money to the highest priorities, but still providing some to the goals that are a little further down the list. But I’m going to deviate for two months and go all out on finishing the emergency fund.
Now that my student loans are in remission (deferment, but I like to call it remission), I intended on contributing $75 each month to a dedicated savings account to offset the balance (because who pays a 0% interest loan?). That is roughly how much was going to principal each month. However, this student loan fund will be on hold until the Efund is goal reached.
My car fund is around $350, which will cover minor repairs. I’ll suspend contributions to that as well.
My gift fund is around $300, which is what I’ll need for the holiday season (plus November’s and December’s $100 contributions). My travel fund will go back to getting the basic $75/month contributions, but I don’t want to suspend that one. I’m also a little ahead on Roth IRA contributions, so I only need to put in about $190 November and December.
With those adjustments to my budget I should be able to shuffle $650 for both November and December into the Efund, ending the year really close to $14,900. I’ll settle for topping it off in January.
So basically… I’m not really doing anything differently. Money that was for one cash pot is going to another cash pot. A dollar by any other name is still a dollar. Still, the efund has been this ever moving goal post, a goal I’ve worked towards since I graduated in May 2006. It’ll be very very exciting to call it DONE (even if it means I’ll just be calling my cash savings by another name).
I buy a latte at work maybe 2-3 times a month. I usually do it when I’m feeling gloomy and want a little boost. Today was one of those days. I ordered a tall latte before a morning meeting and this is what I saw when it was handed to me.
It looked even better originally, but I put the lid on to carry it upstairs.
It made me smile. Happy Friday!
I like the way this month is going. While the economy may be horrible, my own personal economy is going well (for now). I’m in budget (everywhere except clothing), I had a third paycheck to boost overruns from travel spending in Aug/Sept, and I’ve put $1000 in my efund. If only all months gave me three paychecks!
I had a birthday and got fleece pants, a fleece hoodie (mainly for camping), a sleeping bag liner (my bag isn’t quite warm enough for cool temps), a university branded coffee mug, and some cool hard cash. My grandparents sent me $10, to which I thought “what’s the point? A card would have been fine!“ I like to write in my thank you note “Thanks for the $, I used it to buy …” But it’s like, “Thanks for the $10, it disappeared into my pocket and probably bought a latte and a few loads of laundry.” They typically send $25, maybe they are nervous about the economy as well.
Aside from finances, this month hasn’t been all that great. Work is stressful. I’ve lost my appetite and motivation for cooking. School is time consuming. It was dark when I left work today, not because it was that late, but because “winter” is coming. This is my first California winter, and while I’m sure it’ll be better than last winter (ice storms, lots of snow, power outages, COLD), I still wish it would stay light out until at least 7.
I think I’m going to use some of my travel funds next month for a short camping trip in November. It’ll have to either be the week after midterms, or maybe around Thanksgiving. I hate that I can’t arbitrarily pick a weekend and go. I hate that I’ll have homework the majority of the weekends for the next 1.5 years.
But my budget seems to really be liking it. :/
I have no good excuse for not posting much. I do have a lot of school work, but considering I wasted more hours than I’m willing to admit this weekend (watching season 3 of the Wire), it would be deceiving to use that as an excuse. My brain is out of shape and simple calculus is causing me to pound my hands to my head and when I combine it with everything else, maybe even cry. I’ve been stressed out about everything, and I need to relax!
The weekend was fantastically cheap. I bought pizza ($13), T bought Newcastle ($13), and we each got a free latte from Starbucks Saturday (via MyMoneyBlog, good until 10/31). I also bought a cookie ($2) and wanted to buy some new brown casual shoes from Target, but didn’t (yet). I want a darker brown anyway. I just may come in within my budget this month, but I still have 11 days to go.
We had a presentation this morning at work, and it went better than expected (I was terrified!). However, right before the meeting, we got some news that is pretty terrible for my program, and really, a good chunk of my division in general. I may be in the job hunt in the next few months. I may not be. It is too soon to say. Cross your fingers for me?
I don’t think I’ll be posting much in the next couple weeks either. You know, all that school work… Or something.
The other day, my neighbor told me he has never paid his rent on time at our complex. He said it was “because of the way [his] paychecks lined up”, and paid $85 late fee each month. He also told me he never paid the bill we get for water, sewer, and trash, because “what are they going to do? Stop picking up the whole building’s trash?” So he simply ignores the bill. It sounded like he even called the company and asked them what they would do! Wow!
From that conversation, I concluded he was one of the many Americans living paycheck to paycheck. Do you think they worry more or less than those of us who are money obsessed focused, yet have cash in the bank? Well-Heeled has collected $21,200 cash, and is grateful, but still anxious about what may come. I wonder what amount in the bank would make me feel completely at ease? Fifty thousand? Would that do it?
I’ve reached my (revised) 2008 goal of $13,000 and am setting a new goal to reach $14,750 by the end of the year. If I save every dime (and find some extras), I could reach $15,000 by the end of December. That is my reach goal.
In terms of how long I would last if my income dried up, I’m not sure. I’d ride out my lease until February, then I’d move, presumably illegally (campus housing) in with T until we could move elsewhere (which is the longer term plan anyway). I could contribute “my share” of expenses for almost a year. If that were impossible, I would try for a different shared housing situation. Given all that, it is hard to figure out how long it would last.
Moving home would be a really poor option (2000+ miles!), but I do know that T have saved/invested like an 80 year old, thus has some cash reserves and would help if needed. It is surprising to realize that for the first time in my life, my parents wouldn’t be the first I’d turn to. But honestly, I think I could find a job before it would ever get to that.
I joined that a second class for my MS degree Friday and did the first homework Friday night. (T helped a lot. Thanks!) I’m about six lectures (two weeks) behind and the next homework is already due Wednesday. Eeek! I wish I would have signed up for both right away, but I didn’t know it was allowed until mid-week last week. Many full time students only take two courses a quarter (and do research), but one of mine is really quite basic.
Regardless, I’m going need to be strict with my time management to get through the semester. Can you believe I just joined a class last week, and I’ll be taking the final December 13th? My job is also going to be stressful through at least December, because I’m doing things I just don’t know how to do (yet). My mode of operation for the past month has been “survive”, but I need to start moving towards “thrive”.
Here’s my new ideal schedule for maximum productivity:
Monday through Fridays:
6:15 -Get up (without hitting snooze!)
7:15 – Out the door
7:30 – Arrive at work (about 30 minutes earlier than my schedule has been lately)
12:00 – Half hour for lunch
4:00 – Leave work (work late as needed)
4:15 – Arrive home, run, shower (Mon, Tues, Thurs), drive to T’s (Wednesday), watch a lecture (Friday)
5:30 – Dinner (plus prepare extra for lunch)
6:00 – 9/9:30 Watch lectures, homework as needed (mon-thurs)
9/9:30 – 10:00 Relax, get ready for bed (watch Grey’s Anatomy…)
10:00 – Bed!
Saturday:
9:00 – Run, Shower
10:00 – 4:00 Homework (get next week’s assignments as complete as possible)
Sunday:
9:00 – 1:00 Homework, studying, lecture
Afternoon: Groceries, cooking, etc.
I’ve been visiting T a couple times a week the past few weeks, but that doesn’t seem possible for the next few weeks. I’ll still visit on Wednesdays, but I expect both of us to be working for the evening. He’ll come over on Fridays, as usual. He plans on having a busy semester too, so we’ll both be working.
This doesn’t really allow for stupid errands (such as going to the DMV before work and discovering it is closed for Columbus day). Blogging is usually done over lunch break or before bed, so we’ll see. I was posting pretty much daily in the summer, but now it’s more sporadic (and I credit my use of the word sporadic to the movie Clueless). I often read blogs and blog before work, but maybe that is not a good habit.
I left Sunday afternoon open (I do think grocery shopping is kind of fun!), but it would also be fine to take the morning off and work Sunday night. During really busy weeks, maybe relaxing will have to be cut! I can also cut Tuesday’s run and still get in 3 times a week. That sounds ridiculously boring, but at least it is only for 2 months.
Of course, this is flexible, and I’m really hoping that there is more free time than this ideal schedule implies. At least I won’t have time to spend any money!
The weekend wasn’t as productive as I had hoped, but it was a pretty good weekend anyway. I spent some money, but nothing too crazy.
- Food for a beach picnic: $7 (cold and windy, so the picnic was short and converted to a balcony dinner)
- Fresh flowers from Trader Joe’s: $7
- Vase (my old ones didn’t make the move): $8
- Poker night snacks (we made spinach artichoke dip): $10
- Poker night buy in: $5 (I lost)
- Latte (shared): $3
- Prescription: $55, pre-tax
- Hairbrush (my family accidentally took mine), woman supplies, conditioner, thread: $25
I wanted, but did not buy, new mascara and new nail polish. I wanted/needed, and attempted to buy a new wristlet, but did not find the perfect one, so I didn’t buy.
I want to go to Catalina Island this month for a couple nights on weekend. The boat ride is $66 each, camping is $12/night per a person (so expensive!) and they charge you a $12 extra fee for the primitive sites (water + firewood). The trip would probably be almost $125 each once we bought food. Still, we really could use a romantic getaway.
A much cheaper option would be just to find a free site that we can drive to, and save the island trip for later (like when I have more than $10 left in the travel fund). We have the parking pass for the forests around here, and I found a nice overnight canyon hike we could do for free. Not as awesome as camping on the sand, but still pretty cool.
I don’t know when we’ll be doing either one though. I signed up for a second class, so I have some catching up to do this weekend. T also has a lot of work (as usual). Next weekend we have tentative plans for a “sport” tournament. Sport is in quotes because it is not a real sport, nor am I really athletic, but it might be hilarious. The following weekend, no plans, but it is one week before my midterm, so I’ll probably be studying. Then Halloween + midterm, and we’re already in November! Wow.
I’ll meet my travel budget almost exclusively because I won’t have time to execute my plans. Booo.
P.S. My new hobby is checking the Asian markets before bed to see if the world has completely collapsed yet.
Considering Another Class
I’m considering taking two classes this quarter instead of one. I have two days to decide. I’d complete my degree 4 months earlier, and the class I’m in is pretty easy. (It is pretty much an undergrad class that I’ve taken, but if they want to count it for my graduate degree, I’m all for it.) The teacher’s style seems quite straightforward. The homeworks should be pretty easy (though time consuming), though the exams will require some effort.
I’m hesitant because of the time commitment. Either way, I will finish my MS sometime in 2010. I doubt I’ll have the bandwidth to take two classes at once again, so maybe now is the time to seize that chance.
The side job thing isn’t really going anywhere. Given the market, I doubt start-ups are able to get much (any) venture capital right now, so I don’t anticipate my talents being needed. On the other hand, I’ve had a bad month or so and have been feeling pretty stressed/tired. Do I want to take on more work? And wasn’t I going to fill out the transfer credit paperwork? Or check on my student ID? Gah.
Why I do distance education in the first place
1. I can go to good schools, no matter where I live
I wanted to talk about online/distance education in a more general sense. I recently told some “real grad students” (full-time) I was getting my Masters degree online. Someone joked about the University of Phoenix Online and said online degrees are a big business these days. Yes, online education is big business these days, but no, it isn’t University of Phoenix! In fact, I’m going to your school! They scoffed at me for coming to the new graduate student picnic, but hey, I was invited! A lot of top universities are offering online programs, in part because they are quite cheap to run.
2. It is a good financial deal in my industry
They asked the price per a class, did some calculations and said I was really getting ripped off. “Nah, not really. My company pays for it all.” Up front, as well as my textbooks. And they pay me a real salary while I’m doing it, and some stock options when I finish. I’m not getting ripped off one bit! I didn’t brag to that extent, but I did want to be clear I was getting a great deal. Plus, you don’t have to survive on a stipend, can save for retirement, and get some perspective on the real world. While details may vary, almost all big companies in my industry will pay for your education.
3. For my career path, it is as good as a “regular” degree
I’ve also heard claims that the value of an online degree isn’t the same as their “real” degree. In my industry, it is nearly equivalent, as long as it from a real university (the kind that also has a respected regular program). In academia, they probably have more of a point. You probably wouldn’t go for an online degree if a PhD or research career is your calling. I know my opinion is skewed, but I really don’t see why anyone in my field would go full-time just for the MS (unless they got a fellowship, but those are often reserved for the PhDs).
4. I’m disciplined and basically awesome (or, I don’t mind having no life little free time)
There are downsides, of course–coursework eats into your spare time and you have to be self-disciplined. If you don’t do the work, you won’t pass, and your company won’t pay. You don’t get to live the student lifestyle (however, you also avoid campus outbreaks), and you will spend a lot of weekends catching up. Also, it takes longer than usual. In my case I’ve completed roughly 7 months, and I still have 1.5-2 years left. This doesn’t count my 9 month break I took when I moved to California. While I know “full-time” graduate students that stretch their M.S. over almost 2 years, T whipped through his in a academic year (9 months). While all my degree will cost me is time, I can see how that isn’t worth it to some people.
So, are they real degrees? Well, it depends, but usually, yes. What do you think? Are online degrees respected in your field? Would your employer pay for part or all of yours?
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