Murphy Paid A Visit

Well, Murphy popped his head into my house yesterday.  My A/C’s drip pan was FULL of water and the floater sensor did not work and did not shut the unit off.

I was going to wait until Monday but when the temps are over 90 that’s really not an option.  So, I contacted the company, Shumate Mechanical, and set up the appointment.  I had used them before and they have a good rating on Angie’s List. 

Within 2 hours the technician arrived.  He worked and worked and worked. About 3 hours later it was done. Here’s the bill.  $224 is for an annual maintenance contract and he never charged me for replacing the P Trap (incorrectly installed with original installation). 

 

Murphy only stayed for a minute.  I have an emergency fund and I wrote a check for the bill.  I will replenish the emergency fund this month.  It will only slow me down by $440 in my debt snowball.  It’s OK and I did NOT use a credit card!

Whoo Hoo and thank goodness for Emergency Funds.

Credit Scores Looking Good

You know how you can get your credit report free each year, but they charge you to get your score.  Here’s what I do to get my scores for free.  Once a year I call Countrywide to find out my refinancing options.  They always have to run your credit.  I tell them they can run it if they tell me my scores.  So, that’s what I did, yesterday.  No, I’m not going to refinance.  Not enough incentive to do so. 

But, I did get my scores.  Here’s where I’m at as of yesterday.

Transunion: 786
Equifax: 813
Experian: 824

Here’s what my scores were when did my HELOC refinance to a fixed 2nd mortgage in May 2007

Transunion: 725
Equifax: 723
Experian: 742

So, in a little bit over a year and getting rid of all credit card debt has resulted in a nice improvement.  They were never terrible but the jump is nice.  I still have my credit cards, for now.  I haven’t closed any because I don’t want to take the negative hit on my credit.  But, once I move and get settled I’ll probably close the accounts.

Oh, I just made my first gigantic payment on my student loan.  9 more payments on that and I’ll be debt free except for the house.

One Year Update

I started my debt reduction plan May 2007.  Well, I have finished paying the bills for April so all my finances are complete.  That makes it one year since I’ve started this journey.  How am I doing?  I think I’m doing OK.  I wish I could go faster but I’m doing just fine.

Here’s my debt snowball snapshot! I almost paid off $25,000.00 in one year!  I can’t wait until all of my debt is gone!

Depending on the real estate market will determine if I keep my Fixed 2nd mortgage in the snow ball.  If, by next July things are better I will sell and not worry about the 2nd mortgage.  Woo Hoo just a little bit over a year and it’s DONE!

March Progress Report

Here it is!  I love the progress but sometimes I get antsy and want to move even faster.  But, thank goodness I am able to move as quickly as I am.

This is great progress considering I had to keep $950 aside for driveway repairs next month.  So, considering that I think I’m doing just fine.

 

February Status

Well here it is.  I’ve finished paying all bills for February and this is how it looks.  Yes you see it right! 2 credit cards have bitten the dust.  I love it and in 4.5 months the next one will be gone and then it’s on to the student loans.  After that, I am basically free and will be selling my house.  That’s why I’ve crossed out the second loan on the snowball.  As it stands right now I’ll be done in May 2009.  Hopefully, the housing market will be picking back up. 

As you can see I have just about paid out $20,000 in 10 months.  I love it!

I got my income tax refund (fed and state). For now I’ve moved both of them into savings until I decide the best way to proceed.  I have already maxed out my Roth IRA for 2008 so that’s out of the picture.  I have things I have to do but I’m tempted to throw it at debt.  I have to decide what to do so for now, it’s in savings.

Do You Have A Home Inventory?

StuffSafe

What is StuffSafe? It’s the simple, fast, free online inventory solution for your home and/or office.

This is very cool and free. Here’s what they say on their web site.

"If you’re a home owner or renter, a secure inventory of your possessions should be a big part of your theft or disaster recovery plan. Having an up-to-date home inventory will help you get your home owner insurance claim settled faster, verify losses for your income tax return and help your purchase the correct amount of insurance."

It’s really cool and you set your inventory up by locations or rooms. You can also download your home inventory to your computer and create reports. Reports can be created in PDF, HTML or Excel format.

To learn more Click Here for the FAQ.

Here’s what it looks like after you’ve added a location and a room. Seems like it’s relatively intuitive. I like that you can add pictures and include them in your report.  I know it’s kind of hard to read but I think you get the idea.

 

Has anyone used this service? If so what do you think?

One Day Only Finance Freebie

Happy Valentine’s Day!  In celebration Oprah has teamed with Suze Orman to offer Suze’s book for free until 8pm Eastern Time tonight.  If you ever wanted to read Women and Money now is your chance.  Today only you can get it for free in .pdf format.

Here’s the link to Oprah’s site.  Scroll down and you’ll see the download in English and Spanish.

If you just want to download the file, click here.

Get it quick and enjoy! Remember this only until 8pm Eastern time TODAY.

Woo Hoo I’m working from home today and it’s 24 degrees outside!

 

Technorati tags: suze orman, women and money, finances for women

401k Rules

I called Fidelity and found out the scoop on moving my 401k to my Roth IRA.  When I am 55 I can transfer the employer contribution portion and at 59 1/2 I can transfer all of it.

I am not sure I’ll do that since that will be a larger transfer and my taxes will be higher.  A reader pointed out that my tax liability would be less at retirement so if I just leave it alone and when I withdraw from it I will, most likely end up paying lower taxes.

It was also suggested that I pay the Nelnet debt first because of the higher interest rate.  Logically, that makes sense but the smaller victories keep my motivation higher.  So, I am paying off everything from the smallest to the highest. By the time I get to Nelnet I’ll have a nice snowball and will have paid out in about 10 months.  I’m happy and my second credit card will be paid out in February.

New Year Report

I know I haven’t been posting very often but I’m just so buried in the business of life. It’s all good and progress is being made. Here’s where I stand for the end of January. Also, I’ve made my full contribution to my Roth IRA for 2008. I really sucked it up to make that happen because I wanted to do this while the market was down. Woo Hoo, I made it.

Now I have to educate myself about moving my 401k stuff into my Roth and what the tax implications are. I’ll be calling Fidelity (holds my 401k) and find out how to do this and then figure out how to budget for the taxes. Does anyone know the what the tax implications are for a move like this?

8 Months and a Great Beginning

OK, I started my quest to kill debt May 2007.  Just 8 months ago. It seems longer, considering the progress I’ve made.  Yes I think I’m doing well.  Here’s where I stand at the beginning of 2008.

You can see I’ve crossed out the 2nd mortgage. I’m not counting that anymore as I am selling the house.  To me there’s no sense in rushing to pay off the 2nd when I’m leaving.

So, with that adjustment I will be out of debt June 2009.  It could be earlier but that’s what it is now and that’s with a screaming tight budget.  I have also managed to get my emergency fund up to $9000.00  Pictures speak louder than words so here’s what I did in 8 months.  It could have been better but I was just starting out.

It’s going to be a good New Year!