I put my life out there so you can learn from me. Learn some of the great things and some of the not so great things. I tell you about my desire to extend my family. Life is not a solid state and singularly focused. A financial blog will make it that life has one singular focus of just pay off everything and pay nothing toward anything else... sell everything and know that your life is over. That is not my life. However...
I have in the past week gone to advocate in Washington DC for our amazing profession! I have been able to see friends from long ago and meet others that are future colleagues. I have been able to learn about the political arena in DC and those that work behind the scenes with little to no thanks and with little to no monetary support from our colleagues. I learned that we are fast attempting to put ourselves out of business by not being active in the community, donating to our own cause and having no interest in helping others understand our profession and differences in providers.
I have in this time received a decent paycheck to apply to our debt. So I wanted to update you that the highest interest rate credit card has been paid off! Thats 22.6% interest that is not being paid! OK, that means 1/3 of the credit cards are paid off. I still have a significant amount to go and it'll be weeks before I can make such a significant foray against the debt again as I do have the next check helping to pay taxes, insurance, mortgage, and typical bills. I would have normally waited on paying down the debt so drastically and saved a bit more just in case I miss something or have a large bill come. I have a 5K savings backup just in-case and am not going down to my last dollar. I also put away $9K into my sep IRA for last year which promptly lost 10% of it's value ... freaking stocks. Also, This week I'm expecting a signed 11 month lease for my college rental home in Kansas. This will bring rental income up to 2200/month positive cash flow and that will go directly into the improvements of the two newest rentals. I don't count on the cash flow from the rentals but do make sure they will pay for themselves and the improvements in 5 years. Granted we did have an unexpected water heater replacement at a property ... that is happening today. I keep funds in a separate account that is ready for the cost of this expense and won't effect my credit bills or otherwise.... so nice knowing it is covered and not a huge stress. We also re-bid on the home that needs all plumbing, HVAC, Electric etc... we went from a $14000 bid to a $5500 qualified known quantity bid on doing the bulk of the HVAC and plumbing. $9000 savings. I may not have extra money in my pocket but it is keeping it from becoming a sinking ship and money pit.
This is the current financial picture for this month. I have given myself until the end of August to get significantly ahead on the finances and save as much as possible for our financial health. Others are very much ahead of me and to them I would have to say ... AWESOME! Remember to be active, love family and time home, and enjoy the fruits of your labor!
I said Finance for everything... because you have to decide what your everything is. Mine is to not forget family time and what we need for living and someday in building our family. Nothing, because no matter what you do ... on payday the money goes somewhere and there should be next to nothing left. REALLY, I mean it. Your money should go into a trust for your estate, retirement accounts that have an attached succession plan, go into childrens' savings accounts, or pay down the bills so you can set up these accounts.
Money isn't everything.... but having some available sure helps the world go around. My ankle is causing me some difficulty and I'm reminded of insurances and disability and all the things that go with this. I don't think the ankle pain rises to that level but I do know that as life changes and I get older insurance for large things like disability, long-term care, and to cover assets will all be important. We'll continue to cover things like this as we go. I hope you like the blog and I know it's all over the place... I'm going to see if I can't get it divided out into sections should someone want to see a specific topic... I have so much to learn.