Well not an exciting paycheck for sure.
I charged up a stay for our upcoming trip on the 0% card so I made my first payment to that.
I had a deficit in my bill account because I forgot I needed an extra month cushion, I used most of my check eliminate that deficit.
I have another deficit in a monthly expenses savings account which I was only able to contribute a dollar toward in this check but its still better than nothing. Next check I should be able to put more.
I was able to keep all my savings including retirement savings goals which was nice.
I was able to set aside a little money for our anniversary, plus some money for a b-day gift I will be sending out shortly.
I did not have enough to pay a lot extra on the car but I could make it an "even" amount.
Next check's goal is to make sure I am able to cover the bills and fill that other deficit.
This check and the next are going to be short checks due to the lack of hours as of late but no worries. I may have been hit by a truck load of bills all at once but I have a plan for making sure they get paid off even if I am just merely underemployed.
Viewing the 'Retirement' Category
Well not an exciting paycheck for sure.
My sad little IRA account has finally hit $1000. I had not been blessed with (fruitful) employment until recently (even if it is only temporary) and that fact combined with a little serious credit card debt meant that saving decent money toward retirement wasn't much of a reality til now.
So I guess I can look at it as 100 bucks a year for the last 10 years and reflect on the fact that it may be better than what most people in my age range have saved. I just know that now it will grow it to several thousand dollars now that there are no more credit card issues. It's amazing how much better I can sleep at night even with a small emergency fund, $1000 in my IRA and no interest racking up on my credit cards.
I did the calcs with the new book I got and while I'm happy I'm in control of finances I realized that I should have been saving more.
But here's the thing.
Since this temp job started:
-I planned a wedding for less than 5K and it is completely paid off.
-I paid off 3200 worth of credit card debt.
-I had 2800 in my emergency fund in September before my medical emergency cut it down to 1200.
-Aside from my emergency fund, as of this week I have money set aside for 3 months worth of expenses.
I'm mad because:
-My temp employment means I can't save as much as I'd like to for retirement.
-My credit card debt has kept me from saving for an emergency fund and retirement for far too long, I am very happy to be rid of it.
-My current debt keeps me from being able to buy myself many things I'd like to buy, which normally doesn't bother me but seeing how far behind I am in my goals and knowing my current employment is running out soon makes me feel like its all going to reset and I'll run out of all the money before someone is willing to hire me again.
-I should have asked my current employer if I was eligible for unemployment. I always have been when I worked at a temp agency but these guys hired me as a no benefits temp employee. I can of course ask HR this but I may want to wait until I'm much closer to the end.
-Knowing that I might not be entitled to unemployment its scary to think I only have 3 months worth of expenses saved up and have to rely on my part-time job only to carry me through once those funds run out.
-I still have less than 1000 in my IRA, I've had this IRA since I was 18. If I had been able to put more money in there I would have much more. The returns on the stocks I invested in almost 10 years ago have been amazing.
Ultimately though I haven't done so bad for myself. I paid for a wedding, didn't touch a penny of my part time job checks except for 4, one for tires for the car, one for medical bills and 2 for the wedding.
-I did save up 3 months worth of expenses and while its scary to think I may have to rely on it, its comforting to know that I have at least that cushion.
-I have done the best I can do to replenish the EF but felt it was more important to get rid of the cc debt since I have no idea what the pay rate will be on my next gig but know that there is no way I can pay it off on my part-time one.
-I also managed to convince my 2 of my credit card companies to convert my cards into rewards so now when I choose to use them I am getting money back to do so.
-I have kept my expenses low and learned to cook more things which means we eat out a lot less than we used to.
-I gave myself a break and I am finally giving myself a few more bucks each week to spend on food etc. This should help from racking up the cards again as well.
All in all the picture isn't bleak but its still not rosy. I'm a lot better off than I was when I graduated from school and doing fine considering that this economy is awful and some people have had no work at all while I still continue to get at least 1 assignment a year.
I am grateful but it does get hard. I start to wonder if my goals are reachable, if a home or children is financially even possible.
I do hope my current position calls me back but I'm going to stay strong and hope for the best. I stand by my work and efforts and just soldier on to the next job. This time though unlike the last time I have a bigger buffer than before, which is good because I might end up needing it!