by Claire
…Will be coming your way shortly. Not a huge difference from the last update but every penny counts! I am very proud of our savings account. I cannot believe it has only been one month though since I started blogging! While every other part of my life feels like it flew by this month…I feel like I’ve been blogging for YEARS! I think that is the result of really paying attention to money for the first time in my life. Until that habit is built and solid–it is going to feel like work.
One accountability note–I’ve realized that I have an addiction to the “shell game.” What does that mean? I like the rush of moving money from one place to another and back again…often before I even have the money in my account. Case in point: The first $145 line of credit balance you see here…I initially put $0 there…not because I am a LIAR Sarah ;-)…but b/c I know I have money in my account that I can use for that right now (b/c it is earmarked for an expense later in time) and then I have money coming in that can replace that money I took out so I get the good feeling of paying something off EARLIER than I otherwise would….but…I realize in my frontal lobe (wikipedia break: frontal lobes involve the ability to recognize future consequences resulting from current actions, to choose between good and bad actions, override and suppress unacceptable social responses, and determine similarities and differences between things or events. Therefore, it is involved in higher mental functions) that this thing I do is ALL A FICTION! I’m a Dream Weaver! I don’t at all have an intent to be DECEITFUL but…do you see what I’m saying here? And so, my husband is RIGHT (yes dear, that’s in writing for the world to see)…I can’t do that anymore! That’s a bad, bad habit that must stop and I feel super charged that I’m stopping it today with the posting of these new numbers! Woo-hoo!
Born and raised in Texas. I’ve at least driven through every state in the US courtesy of a roadtrip loving Dad.
I’m single with two children and a good parenting relationship with their father.
I am a “life is just half full of funny” kinda gal. Humor is my saving grace and I am thankful for it every single day. I have a strong Catholic faith and am thankful for that foundation.
I read a lot for a living but still enjoy a good book. I love biographies but in recent years have found the need for fun fictional books–sadly, for a long time I just didn’t enjoy fiction!
I love live theatre of any kind–from local productions to Broadway.
I love to scrapbook and pride myself in my kids’ albums.
I love being a mom but also love my career. I’m blessed to have found a balance allowing me to be at everything my kids need and want me to be at–while also having a career.
Favorite Quotes: Well behaved women rarely make history.
Behold the turtle. He makes progress only when he sticks his neck out. -James Bryant Conant
Congratulations Claire on all of the progress you made this month! Being honest and respectful of your money is a good lesson. And you are right, every penny counts. Yay for the savings too!
You write so well–you are a sweetheart and I’m sure your husband appreciates you.
Not sure I totally understand what the shell game is, but I think you were talking about cash flow and timing – ie. for example you have a bill due April 20th, you have income expected on April 15th to cover that payment. However you also have cash on hand now to cover that April 20th payment, from the emergency fund for example, so you can mentally mark it as paid off.
I think it’s sound especially if you pay down that bill now and refill later. You’ll save interest by paying earlier than the due date, although I believe this doesn’t apply on some debt such as cars and homes.
[For most credit-card debt, interest is computed on average daily balance. If you can arrange cash flow to pay your bills earlier in the month than the due date, you’ll save on interest charges because your average balance is lower. With online banking you can even make multiple payments per month (to match paychecks) – if you’re willing to do the extra work and it won’t cause you to lose track of minimum payments etc.]
“I think it’s sound especially if you pay down that bill now and refill later.” That’s the step I miss! Simply not disciplined enough for this yet…maybe never. I get that it could save me money on interest but that’s moot if I never get the money back to where it needs to be and instead spend it elsewhere (i.e., put it under another shell). One day maybe…one day…
Thanks for your openness and honesty about your financial circumstances. Like you myself and my other half are proud of our savings account which we try and save as much into as possible. It’s amazing how even a little can help!!!
keep up the good work! I enjoy your blog so much!
Another brave post! This is a big step toward keeping out of debt. Being honest with yourself about your habits (vices) and seeing what patterns you fall into is so empowering. I love this post because I know I can do it too!
Brave post! It’s so inspiring seeing you tackle these things all “out there” in this public forum. To be able to look at yourself and see things like that is kind of unusual, actually!!
I totally know the shell game. In my house we call it “the wheelin’ and the dealin'” and we’ve spent the last year training ourselves not to do it. It’s hard to quit!
~Angela~
Thanks Angela. It helps to give that shell game a name to keep it in my concious thinking! It is indeed a “re-training” of the brain!
Hey Claire,
I was looking at your numbers (it’s been so busy that I’m behind on my blog reading) and was wondering… you have so many HIGH interest credit cards/loans that it might be a good idea to apply for a loan through LendingClub. Don’t know if you’re familiar, but I consolidated a couple 18% loans into a 13% loan there… it’s peer to peer so you end up having as many as 147 lenders (on my $14K loan–hilarious). But if your credit score is anywhere near decent, it might give you a break. It sure helped me out.
And if you take a look and decide to post a loan request, I’ll help you write it… professional marketing writer means my last loan with them funded in three days (as opposed to the first loan which took a WEEK). 🙂
I did just get a personal loan through my credit union at 11.4% which was a HUGE improvement over the 19% and 25% cards I paid off with it! My remaining debt is all below 15% but I’ve heard about this peer to peer option and may need to check it out. Thanks for posting!