Monthly Financial Update August 2010
I made it through the month of August 2010 and came out $469.13 in the black!!!!! I almost lost my mind when I saw those figures and had to go back and double check because I knew I spent a lot and was over budget in a lot of areas and had even used some splurge fund money as well. The reason for still being in the black despite the extra spending was due to a small bonus I got for attending training and workshops over the summer, as well as some advertising on the blog.
Common Debt Management Myths (Guest Post)
Debt management skills are in great demand at the present time, especially for numerous consumers who find themselves buried beneath a mountain of credit card and other unsecured debt. Debt problems such as these can take on a life of their own and grow to nightmarish proportions when not managed appropriately. Beyond the sobering financial consequences they can exact, debt problems can also disrupt the personal lives of those involved and eventually assume “center stage” among their priorities. Before a debt problem has a chance to develop into an issue of this magnitude, consumers are well-advised to seek out possible solutions and to consider them carefully, finding the one that makes the most sense for their particular needs and circumstances. Along the way to finding the right debt solution, they are almost certain to encounter some well-worn myths. It is hoped that in exposing them here, it will help readers to sidestep them and to move on to other solutions that are actually worthy of their consideration. Here are some of the most often repeated myths:
Tracking My Finances In 2010: July Week 2
I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.
This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.
The Personal Finance Learning Curve (Guest Post)
Learning the basics of personal finance is often saved until our first brush with student debt. In the present economic environment though, this can be a difficult lesson, with very little room for error. As the student lifestyle can be an expensive one, this shortage of jobs can make paying off our student debt a daunting prospect. So, the personal finance learning curve needs to be a steep one.
Debt 101 (Guest Post)
Debt became a way of life for most families only in the last few decades. Other generations chose to pay for everything in cash. The introduction of the 30 year mortgage drove home prices out of the reach of most cash purchases and the debt stone began to roll. Soon everything from groceries to second homes was being purchased with debt.
Lending Club Investment Updates: May 2010
I am pleased with my small investment into Lending Club as my loans are generally doing well. I invested the minimum $25 in each loan that I funded so that I could spread the risk around. I will continue to invest only $25 in each loan so that I have less to lose if one person defaults on the payments.
Here is the breakdown of my 25 loans as of this month:
- 3 fully paid off
- 1 charged off
- 21 current
Tracking My Finances In 2010: May Week 3
I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.
This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.
$1000 Emergency Fund….Now What?
One of the basic ‘rules’ of personal finance is that you need to have $1000
in easily accessible cash in case of an emergency. I have been slowly
building up savings and set up a sub account in ING specifically for my
emergency fund so that I would know when I hit that magic number.
I finally reached the savings goal of $1000 in ING in my emergency fund and
while I am happy that I got to that goal I am now bored. What do I do now
that I have reached the fully funded $1000 fund?
