<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Archive: December, 2017
 

Archive for December, 2017

End of 2017

December 30th, 2017 at 07:13 pm

It's been a year of highs and lows... some financial, some not as financial. Highs and lows, give and take.

1. We paid off the mortgage! This is 100% awesome... and it happened in 2017.

2. D got a new job! Also awesome! And at the end of 2017 he started getting every other Friday off... he's so happy! The salary increase and the health insurance were a big deal for our family. The only drawback is his work is 35 mins. away... spending more on gas and I am not only the primary parent on duty, but the only parent on duty.

3. F started 7th Grade (Middle School)l! This has been good (her grades are amazing, A+ in Latin, History and Algebra and A in everything else) and bad (a few 7th graders are boy-crazy and gossipy and it makes her crazy). And good (she loves the sports) and bad (a friend who has made some new friends who are more "exciting").

4. No Vacations - no, we didn't really have a vacation in 2017 (unless you count seeing my parents at Thanksgiving), but we have two trips planned for 2018! It seems like we're spending a lot and it's freaking me out, but we have the money budgeted. Spring: San Francisco. Summer: Ireland, Portugal.

5. Spent More on Food - Ugh. This makes me crazy and this month is particularly bad. D is making more money and I need to understand that he's making some sacrifices in order to bring these benefits to our family, so I need to budget more in 2018 for his weekly lunch out and his occasional coffees. This is something we didn't budget for before, and now that he's making more, I need to add that to the 2018 budget.

6. My Business Made a Profit - And I was able to put $2000 in my SEP.

7. Started Teaching at Another Gym - Which brings in about $100 a month extra! Sometimes it's hard when I have a lot going on at work but it's fun, and I'm feeling more connected to my students.

8. Now two of us can't eat gluten - Doctor's orders because of F's stomach issues, but it does add to our grocery budget. On the other hand - her stomach is great!

9. F started Karate - she's done so well and is now a green belt white stripe; they do karate and self defense. This is an added expense, but worth it.

So - some increase spending, but we're making more money, too, and on balance saving more.

End of the Year Business Money

December 28th, 2017 at 04:21 pm

So after paying for various things this year in order to make my profit less for 2017, I moved money from an online account to my regular checking account to cover those things. I chose to transfer the money today rather than tomorrow or the 29th or 30th or 31st...

A few minutes later I got an email that says: "Your request for an immediate transfer from your account to your external bank account has been received. You should expect to see the funds in your external account within 2-5 business days."

What? Two to five DAYS? I panicked and moved money from my business savings account, but I'll still be $656 short unless the transfer is more like 2 or 3 days rather than five. Five days? I'm pretty angry about that!

It should work out because my landlord usually takes a week or two to cash the rent check, but I am going to have to watch the account carefully and transfer from my personal account if I need to.

If you have a small business, do you "spend out" your business account at the end of the year? My business is an S-Corp (pass through). I am taxed on my profit, so I want to minimize that.

I did put $2000 into my SEP which is great - that means I had a profit this year, which was amazing because I didn't have any large projects, just a bunch of small stuff. Next year, fingers crossed, I'll get a larger project and things will be easier!

Paying Ourselves Back part III

December 26th, 2017 at 05:53 pm

A quick update on "paying ourselves back." Even though I finished Christmas shopping in November, in December we spent a lot on Christmas gifts for various people: coaches, teachers, F's three best friends, etc... We didn't spend a lot but it added up.

We were still able to make progress on paying ourselves back for various things:

Fence (this is for our dog): paid off as of 12/21!

Medical (unexpected): $19 left but this will go up because we have a $130 bill.

Estimated Taxes: paid off as of 12/22 AND we have $240 in there for the next estimated taxes due on 1/15/18. Not nearly enough to cover it, but we should be able to add some with D's next paycheck. I am really hoping that we don't need to pay as much in estimated now that D has his new job and we adjusted withholding.

Fully Fund IRAs: fully funded as of 12/4

Repay General Savings: still need to start work on this; we owe ourselves $1280.

We will have a new item to pay down in the new year. We are buying a painting from a friend of mine who is a famous artist and illustrator. He sells prints, but this will be an original painting. I was embarrassed to ask because his paintings go for thousands, but he said he could do a custom painting with our dog in it for $500 (and I know this is because he's a friend; I am so grateful). Did I mention that he's one of the nicest people I've ever known? Anyway, $500 for the painting we promised ourselves when we paid off the mortgage. We'll hang it so it can be seen from the front door.

That's it!

I hope you had a wonderful holiday (whatever you celebrate!) and that it didn't put you into debt...

I'm Still Here!

December 21st, 2017 at 04:07 pm

It's been a crazy winter break so far! I've had F home but have also had meetings and work to do. Have not been able to blog here, but I am here now!

So here are some financial and not-very-financial facts:
- I taught F to knit! This is keeping her brain and hands occupied!
- I went to two pre-proposal conferences for possible projects; I had to take F to one of them. There will be another right after the holidays, so three possible projects.
- Had my office Christmas lunch today. Since I am the only employee, and F is working for me during break, I took her!
- It's been unseasonably warm which is sad. No white Christmas.
- Once again I was in charge of gifts for the soccer coaches. We had contributions from the team members. Some pitched in $20 and some $25. We did $25. We had enough for $95 gift cards to our local movie theater (the one that serves food in the theater!). I made it $100 each. I am hoping two of the $20 people will add $5 each so I don't have to do $35.
- F had her annual well-check today; she is doing very well on a GF diet (digestively speaking - all problems gone!) and a side benefit is that her allergies are also better. So... no gluten. It's hard for a 12 year old. Not the food, but the attitude of other 7th graders.
- We went to F's conferences... A+ in Algebra, History and Latin. A in English and Science, PE and Acting. English teacher said it would be A+ but she can't give an A+ in English due to school policy. All of the teachers wanted to make sure she wasn't spending all her time doing homework. She has less than an hour a night, usually half an hour. She gets it done in school so she can go to her sports!
- I played basketball yesterday. Swimming tomorrow. F is keeping me busy.
- Dinner is all planned through next Friday. I bought almost everything. Just need to get fresh veggies tomorrow. I don't want to be in the stores on Saturday!
- Saturday is a mother-daughter get-together with F's three best friends hosted her closest friend who has to go be with her dad on the Navajo reservation for a week right after Christmas.
- Sunday we'll have frito pies because I can't make tamales anymore (too time-consuming!).
- I worked out my business income; I am waiting to invoice my clients on the first because the gross receipts tax is going up.

That's it for now... need to get dinner going soon!

How is your holiday season going?