November 2014 Monthly Review

Hey All –

It has been a packed month. I’ve been very busy with side work and this site, and am hoping to launch the new site soon (Yes i’ve been saying that forever, but it’s going to be totally different and is a LOT of work). I’ve already removed about 400+ old posts that were not really worthwhile, and done quite a bit of other things related. I’ve also been working hard at building up income streams online, and I’m expecting to be able to reap those dividends sometime in 2015. I’m hoping that they all come through, and if they dont, I hope at least some will.

Once again, this was a month with out many updates on the blog, but again, I just dont know where the time goes. I’ve been working on getting back into this, but there always seems like there’s more to do.

Work on the house started (and is almost finished), so you’ll notice a rather large hit to our savings account – that was all planned, and it’s why we were saving the money in the first place. The wall is out, but the beam is not in yet, so there’s still temporary supports but already it looks a million times better. I’m going to be looking forward to working down there wiring and plumbing and doing other things once the contractor is finished up. I’m hoping the basement wont be as expensive as the upstairs, but I have a feeling we will still pay a bit of money.

Debt

House

Mortgage $ 105,466 6,337 (-$871) We set and end of 2014 goal for this at 97,500, and I dont think we are going to make it – we just didnt do enough on this front. The good news is that our health insurance squeeze lessened a bit, as my company switched providers and our premiums went from around 900 per month to around 600 per month. I took that $300 per month “raise” that I got from the health insurance change and set up $200 to go to the mortgage, bringing our total (extra) mortgage payments to $400. There’s going to be some real headway coming on this in 2015. I’m hoping that if all goes according to plan, this will be under 50k.

Total Debt: $105,466

We are down $871 from last month, which is to be expected. I’m excited that when I’m doing this update, I can simply move the mortgage down to the total debt line instead of adding in student loans, vehicle loans, credit cards and other debts. Having minimal debt has been HUGE to our savings and cash flow.

Savings

We have moved all of our savings over to vanguard, and instead of putting them in different accounts, we allocated the funds based on a hard number for our emergency fund and a percentage of what is left. Right now, we have our emergency fund in two places: Vanguard Money Market Fund (VMMXX) and Vanguards Total Bond Fund (VBMFX). There have been some suggestions to move a portion of that to a dividend fund, but I’m not too keen on that with the balances where they are at the moment.

House Fund  $0 – This has been drawn down to pay the contractor for the bulk of the work. We estimate that he’s got about 1 more day’s worth of work, which we will take from other savings.

Vacation fund $1,000 – A dip in this account was cause by our severe cash flow issue (wife’s employer messed up her paycheck last month, so she was paid much less this month), so we had to move a bit out of savings to cover it.

Emergency Fund $10,000 – just the boring old 10k in here. Going to leave it steady at this level for the foreseeable future.

I am also probably going to update this portion of the review as well. I’d like to share more information (given our goals have changed) but I need to run everything by my wife and see what she thinks. I’m erring on the side of sharing more, but again, it’s not just my decision anymore – not like it was back in 2009 anyway, when I was in a relationship and my finances were just mine.

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1 thought on “November 2014 Monthly Review

  1. Home repairs always end up costing us more than we anticipate, but, it’s just the nature of living in an old house :). Plus, it’s vastly cheaper to do the work ourselves so we don’t really mind buying the tools and materials. We’d rather spend on stuff we can use again anyway. All that to say, good luck with your house work!

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