Number Crunching 108

Actually, it's a little early for the monthly Budget Meeting, but I'm trying to get habits established. And I need to figure out how to conduct a meeting with myself and the blog.

First step, Quicken Cash Flow total for the week = -190.03

Second step is to maintain Quicken entries daily. Been doing that and reconciling the financial software when I get paper statements. That way they don't pile up as I am wont to let them do.

So third step is the process of the actual meeting that I have no clue what to do. Getting Finances Done has a few suggestions, luckily.

Reconciling last month's budget: I had a budget for December, but not a zero-based one. I can reconcile to that and how much I overspent in what categories along with my December account statement.

Results: I am right royally fucked.

I knew December was in a bad shape but I expected to have some money to start January with. Mortgage got paid but that was the only thing that would get paid. Nothing even for gasoline. CRAP!

So I went and had a nice talk to the bank and got loaned enough money to cover what didn't get paid in December and what is coming due and to get a big leg up on the STEF. Of course, now I have a new bill, but I can continue to go to work.

New Quicken Cash Flow total = 1310.13

Creating next month's budget: January's is made already and yes, I am sticking to it. When I get to the last week of the month, when the monthly Budget Meeting is scheduled, I will do February's.

Determining how much cash to withdraw for the period: I figured this up when I did January's budget and broke down the bills by my pay periods. Trying it for a month to see if it works.

Ensuring all automatic payments went through: 3 payments bounced at the end of December. Tomorrow, I have to make online payments for them or call the companies and tell them to try the check again.

Ensuring all automatic payments for the next period are set up properly: I already changed due dates for the bills so they will fall better according to income. I canceled my Big Fish Games and Audible memberships. I checked with Demco, and they will let me set up levelized billing once I'm at a zero balance (i.e after I pay this month's bill). Automatic payment review comes at the end of January, so i should know for February. I can set the will in motion to cancel Centennial account to go in effect next month. So it's time to start shopping for a new plan to go with the TomTom. (And if the bots show up in comments, I still feel like it's false advertising not to tell people on the box what cellphone companies work with the service. :p)

I'm still undecided about Waste Management, and I need to make a decision soon.

Reviewing short-term saving goals:

1. STEF = $2202.00. Current total = $994.81


2. Dishwasher Fund = $500.00. Current total = $0.00


3. Reenacting garb fund = $200.00. Current total = $0.00


4. Laptop fund = $1500.00. Current total = $0.00


5. Cosmetic treatments fund = $1000.00. Current total = $0.00


6. Wish list fund = $500.00. Current total = $0.00

Don't be surprised if this list changes as I go through Budget Meetings. Dishwasher and laptop are both on the wish list of things I want, so does it make sense to have a separate account for them?

Sam of Getting Finances Done also recommends doing the following once a quarter. Since January technically starts a new quarter and I have never done them, here I go.

Review long-term savings goals:

1. Bathroom remodel fund = $12,000.00. Current total = $0.00


2. House remodel fund = $200,000. Current total = $0.00


3. European vacation fund = $5000.00. Current total = $0.00


4. Retirement fund = $292,547. Current total = $33,379.00


5. Pay off mortgage = $41,195. Current total = $0.00


6. Pay off school loans = $69,233. Current total = $0.00

Don't get too excited about the retirement fund. Everything I've been reading says "don't trust the government." The biggest chunk of that is my government pension.

And yes, my first three long-term savings goals are ultimately spending goals. The house needs work (and those are ballpark estimates done by me, not a pro) and I'm not getting any younger and would like to see Europe before my health gives out. Surprisingly, I stuck to one country and found the quotes I was getting online affordable. Paying off my major debts has to happen, so I just put them here for now. They'll move in another month or two.

Update Net Worth Statement: I'm saving this one until the end of January. I've just added another loan, will be making payments on other loans, and I don't want to mess with it right now.



Plan for upcoming vacations or major purchases: Dishwasher counts, and so does getting ready for Faire in March/April. Damn, I need a cauldron and new shoes for Faire.

Keep in the financial binder: a list of decisions made, a list of situations that count as emergencies, a list of large purchases, travel plans and budgets, gift giving plans and budgets, prioritization of high-level goals. Doing that, except I don't feel like I've made any decisions in this meeting. Okay, I took a break and went to bed to come back to this.

Situations that count as emergencies
Covering a bill between paychecks

• Citifinancial bill
• Natural gas bill
• Water bill
• Telephone bill
• Cellphone bill
• Medical fund
• Electric bill
• Fuel fund
• Mortgage bill
• Auto insurance bill
• Car note
• Garbage removal bill
• Grocery fund
• Pelican loan bill

Groceries is a last resort though, and I need to be unemployed
Car breakdown
Gasoline budget goes dry between checks
Unexpected illness or injuries
Travel expenses for a funeral
Unexpected household expenses (fridge or AC breakdown)
Unexpected tax burden
Travel expenses for a hurricane

Now that I actually have some money in the STEF, I want to keep it there.

A list of large purchases/wish list
Dishwasher – see wish list folder
Laptop – see wish list folder
Posture Pleaser for home
Belkin Tune Cast II at Walker Wal-Mart
Blinds for the office
3 Fisher space pens
Black ink for Epson Stylus 760
Digital pen
Compost bin for kitchen counter – see wish list folder
Compost bin for outside
Metal pullout shelf for kitchen
2 maroon standard pillowcases from Linens ‘n Things
Ikea Sova full fitted sheet
Ikea Tupplur full top sheet
Robin Hood extended version DVD
Caboodel for costume make-up
Change bank
Better car backpack
White basket for bathroom – top shelf
Custom frames for Biker Mice artwork
Trunk for blankets
Real luggage
Thigh-high black socks from Dreamsocks
Black ankle boots
Black leather high heels
Cauldron
Medieval shoes

Some are larger than others and most I have been living without, so there's no big rush to purchase them. So I can save up money and then buy the items. And I know the garb wish list is incomplete, but while I still want a flintlock in a oh-it-hurts way, I don't need it for March/April.

Travel Plans and Budget
Acadiana Medieval Faire March 29 - April 1
I don't know if I need to take off the week before or the week after yet.
Budget needs: gasoline money, blow money, personal food money, camping supplies money, supporting the demo/feeding the cast budget.
Next Action: Compare what was spent last year and adjust for this year. I hope I don't need to feed the cast out of my pocket again.

Pennsic August 2008
Doubt this one is in the budget this year.

Austin, Texas Whenever
Need to budget for books and Ikea. I badly overblew at both stores last trip.

Gift Giving Plans and Budget
Krista January - send an snail mail card
Kay February - book $20
Mom Mother's Day, May - movie $20
Dad Father's Day, June - movie $20
Atticus July - book $20
Kai October - send a snail mail card
Christmas - would like to do an Experience event rather than gifts. Exceptions: Kay and Atticus.

Now for the category I don't do well in.

Prioritization of High-Level Goals

1. Fully fund STEF.
2. Pay off Mom and Dad.
3. Buy a dishwasher.
4. Pay off Citifinancial Loan.
5. Pay off Pelican loan.
6. Buy a new laptop.
7. Remodel bathroom.
8. Long term savings so I don't have to borrow from Mom and Dad.
9. Go to Europe.
10. Remodel house and landscape yard more.
11. Pay off car.
12. Save more for retirement.
13. Save for Atticus's college education.
14. Pay off mortgage early.
15. Pay off school loans.
16. Earn money from writing.
17. Buy the rest of my grandmother's land.
18. Set up a living trust.
19. Get full insurance so I don't worry about losing everything.
20. AMF pays me for my writing
21. Go to Pennsic again.
22. Go to New York City.
23. Buy the next car with cash, no loan.

The order of stuff goes fairly wonky at the end. Safe to say that the first eight are pretty much in order of importance. Though laptop and bathroom remodel change places with paying off loans depending on my mood.

And now we have finally reached the end of the meeting. I hope the next one doesn't take as long. But I am establishing things here that I haven't ever established for myself before. Less of the wishy-washy and more concrete, and I don't feel so bad saying no to a splurge purchase if it's because I need the money for the dishwasher. I can reason with my worst impulses, as long as I have the fact to fight with.

Now it's time to stick things in the binder.

Read Free!
The BookWorm

There is a new renaissance festival in Louisiana! Check out the Acadiana Medieval Faire at: http://www.acadianafaire.org/