<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Archive: April, 2009
 

Archive for April, 2009

Company Offering "Voluntary Separation" and Suspending 401k Match

April 28th, 2009 at 01:35 pm

My husband's company is now offering a Voluntary Separation package, so we figure if there are not enough people who volunteer, there will be more layoffs. We feel fortunate that we feel pretty secure in his position. They are also suspending the company's 401k match until later notice and reducing the ESOP. Sign of the times, I guess. With all of this news, we are feeling like our yearly bonus will probably suffer quite a bit (that's not until Sept.) and that will affect our debt paydown.

Oh well, we'll just have to focus on being fortunate enough to even have a job and feel somewhat secure in that.

Putting Off the Dentist, Waiting for FSA

April 28th, 2009 at 01:40 am

My husband and I are each scheduled to see the dentist in May for a total estimated out of pocket expense of about $600. I just realized last night that it should all be eligible to be covered by our FSA. Unfortunately we have used all of it for this year, but since we're on a fiscal year, it will start again July 1. I plan on calling the dentist tomorrow to reshedule our appointments for July. Whew. That's an awesome discovery, because essentially, that gives us $600 more in our budget than planned since we have don't see the FSA money anyway. Also, I don't have to worry about running out of FSA money next year since we won't be having a baby next year, but are keeping our amount the same. Yeah! This all makes me happy and it's so nice to FINALLY have good news!

Yucky Numbers Monthly Update

April 16th, 2009 at 05:53 am

Well, it could be worse. The overall debt is down only a $1000 from January 2009, but if you look closely, you'll see the credit card/overdraft is actually up $800. Ugh. I don't think this will be the new trend. I think that we're on the verge of major debt repayment if we can make it through some dental bills next month...here's to hoping! On the bright side, our retirement has gone up about $7k since January...yeah!

As for this month's overview....

April 2009

Student Loan 1: $1,991

Student Loan 2: $1,174

Bank of America 1: $8,520

Bank of America 2: $7,578

Bank of America 3: $4,248

Chase 1: $2,482

Chase 2: $2,695

0% Citi: $1,772

Target: $1,591

Overdraft: $2,950

401k Loan 1: $321 (Pay off 07/31/2009)
401k Loan 2: $3,380 (Pay off 07/16/2011)

Car Loan: $13,844

DEBT TOTALS

Credit cards & Overdraft: $31,836
Student Loans: $3,165
401K Loans: $3,701
Car Loan: $13,844


THE BIG DEBT TOTAL: $52,546

Total Savings: $48
Total Retirement: $50,720

Paid Taxes and Being Positive

April 16th, 2009 at 04:10 am

I just had to pay $752 in taxes. Not too bad since I had estimated that we'd owe $1000. The original plan had been to not have taxes withheld throughout 2008 in order to have the money in our paycheck to pay down debt. When it became painfully obvious in August that that was not happening (too many "surprises" and not enough going to debt), I changed our withholdings so this day of reckoning wouldn't be too painful. I had also planned to then save a little via the Freedom Account each paycheck in order to have $1000 saved to pay the estimated taxes, but again that didn't happen (for the same reason). Anyway, we were "lucky" that our older car died a few weeks ago and we are not willing to revive it. We sold it for $1000 and took it off our insurance (every little bit helps!).

I am so grateful that that car died! Smile We are down to one car, which I don't mind one bit, and plan to stay that way for awhile. We used the $1000 to cover taxes which was a HUGE relief as well as cover the last payment for my crown (dental). We have more dental work next month, but we should be fine if these surprises would just stop. My husband thinks they will soon...my fingers are crossed that he is right. He wants this so badly, as do I, and it's got to stop at some point.

Anyway, again we had a heart to heart and seem to be on better ground in terms of our plans financially and how we view our action plan.

Just thought I'd join the conversation again and give an update.