me in millions

I'm a homeowner

2011-12-05T08:49:00.001-05:00

I can't believe I actually made it to this point. The last week has been sitting on pins and needles. Waiting. Hoping to be approved. Hearing nothing. Getting denied. Having my parents step in to act as the lender. And actually still closing on time. Crazy doesn't even begin to describe it.

I'm a homeowner.

It totally doesn't feel real. I'm still living in my apartment that I've lived in for 5ish years. I'm waiting for the renovations to get started in the new place and I'll be moving in all of my stuff over later in the month.

I've hired a contractor and the plan is: demo the bathroom then sand, stain and refinish the floors in the entire home. Then I move in all of my crap and leave for vacation. Then they finish up the bathroom while I'm gone. Mr. Cupcake will be there to oversee when I'm not there. I'm hopeful that those updates can be made for under $8,000 which is a tad higher than I thought it would be. That stuff needs to happen now though. Redoing the floors is a messy job, so it's better to do while there is no furniture in the house. There's only one bathroom, so I'll have my apartment for a little while and then I'll still have Mr. Cupcake's house, so I can pee and shower. Later down the road once I have time to save and have a more stable job situation, other updates will be made.

Mr. Cupcake has seriously been soo amazing during this entire process and I think he might be more excited for all of the projects than me. I feel like I have a partner in this and it's such a good feeling.

Today I'm grateful for: our first dinner in *MY* house. We had a floor picnic with take out from Whole Foods and Mr. Cupcake brought Champagne!

Days until Homeownership: 1? The unknown...

2011-12-01T07:48:00.001-05:00

It's still up in the air whether I will close on this house. Yup. The closing is supposed to be tomorrow. The bank agreed to re-evaluate my job situation, but the employment agency I'm working with told me that they legally have to say that I'm a contingent worker. I haven't gotten word back yet from the bank that I'll be denied, but I can't imagine them giving me a mortgage after the stink they've made about my employment situation. Have I mentioned that closing is supposed to be tomorrow?

I'm working with my lawyer and my dad to figure out a plan B, an alternate way of paying for the place and hopefully closing near when we were supposed to. Guys, I'm so freaking lucky that my parents have their finances together. If the mortgage falls through, they are coming up with the money to help me pay for the home in cash. It's not a gift; I'll have to pay them the mortgage payments and interest. The ultimate goal is for me to get a mortgage with a bank, but that will probably have to wait until I get a full-time, permanent job. The lawyer is going to draw up those documents as soon as we get the denial from the bank.

You guys can't believe the amount of stress I'm under right now. It's making me physically ill. I'm just waiting. And distributing information... to the lawyer, to my parents, to the real estate agent and the title agency and to Mr. Cupcake. Any time something happens, it sets off a flurry of emails and calls that take me away from my work. Not the best...

I want this to be over.

Today I'm grateful for: Mr. Cupcake. He's been my rock through this whole thing. I really love him.

7 Days til Homeownership? Maybe not...

2011-11-25T10:20:00.001-05:00

There's trouble in paradise. I got a call that the mortgage underwriter just discovered my temporary employment situation and they are not happy about it. They want a co-signer. My dad was willing to do that until they wanted him to furnish his personal and business tax records for the last 2 years. No dice.

And I'm just frustrated. My credit is amazing. Even if my job ends, I have enough money in reserve to pay for 7+ years of the mortgage. I will already have $100,000 in equity in the house when I move in. What's the problem? My job could end at any time? Guess what? In this economy anyone's job could end at any time. At least I have the funds in reserve to make payments on the home for a good long time and the credit history to show that I have a history of always making on time payments. Someone, please show me where the problem is? Is it that I'm a single woman whose family is helping with the down payment? I smell a rat.

I'm getting a lawyer. I didn't want to have to do that, but my straight forward situation just got complicated. And the holiday weekend makes it even more complicated. I close in 7 days. I hope I'll be able to close...

Today I'm thankful for: problem solving.

11 Days until homeownership: this week's goals

2011-11-21T11:00:00.000-05:00

Last week's goals were moderately successful and I'm hoping to be even more successful this week, despite the holiday weekend.

Monday:
Home: email realtor (he just got married this weekend, so I haven't wanted to bother him) to see if there a time when I can get the various contractors into the home to give me estimates.
Job: tweet something smart and job-related.

Tuesday:
Home: narrow down paint colors.
Job: meet with my supervisor and talk about my resume. Update as needed.

Wednesday:
Home: email contractors a date when they can come in to look at the home (fingers crossed that I hear back from
Job: post updated resume to the websites of the 2 professional organizations that I am a member of.

Thursday (Thanksgiving!):
Home: show everyone in my family pictures of the place, paint colors, bathroom inspiration and get positive reinforcement.
Job: tweet something smart and job-related.

Friday:
Home: research kitchen appliances.
Job: apply/prepare to apply for a job.

Saturday:
Home: catch up day
Job: apply/prepare to apply for a job.

Sunday:
Home: start getting rid of unused items
Job: catch up day

Today I'm grateful for: success so far on my no spend on clothes month. I'm getting close to making it!

11 Days Until Homeowenership: Goals Update

2011-11-21T08:30:00.000-05:00

I made some goals last week in my quest to get my life back in order. I did okay in some areas and really sucked in others.

Monday:

~~Home: scan and send proof of wire (from the money my parents sent to me) to mortgage broker~~
~~Job: update resume~~

Tuesday:
~~Home: get info from 3 floor re-finishers~~
~~Job: email resume to 2 of my colleagues/friends to look over~~, ask if they would write a recommendation on LinkedIn for me

Wednesday
~~Home: follow up with floor re-finishers~~ wish I could do more with this, but I need to be able to get into the house and that's a story for another day.
~~Job: tweet (on my personal account) something smart related to my job hunt~~

Thursday
~~Home: start looking into prices for bathroom updates~~
Job: find 2 jobs to apply to, start writing cover letters

Friday
~~Home: check in with mortgage broker, see how everything is going~~
Job: finish applications, send to jobs

Saturday
Home: catch up day (finish/do anything from the week that hasn't been completed)
~~Job: look around LinkedIn, see if there is anyone who can help~~

Sunday
~~Home: go to tiling workshop at Home Depot (so excited for this!)~~
Job: catch up day (finish/do anything from the week that hasn't been completed)

Stay tuned for another post about my tasks for this week.

Today I'm grateful for: someone who helps balance me out

17 Days to Home Ownership: Reno Budgeting

2011-11-15T07:37:00.000-05:00

The first two big things on the list are the floors and the bathroom.

The first flooring estimate for sanding and re-finishing is $1,400. I'm not sure what that includes, but I will this week since it's on my to do list.

The next thing is bathrooms. My inspiration is this from Young House Love (obsessed):

My bathroom is a bit smaller (if you can believe it!), but I'm going to keep some of these elements and add my own twist. Mr. Cupcake is totally on board. We went to Home Depot last weekend and just walked around and looked at stuff. I know I'm going to need to hire someone to do pretty much everything, but Mr. Cupcake and I are going to do the tiling in the shower. I'm really excited.

I'm planning on getting these things exactly the same as the inspiration room:
Wall paint: Benjamin Moore’s Dune Grass (color matched to Olympic Premium No-VOC paint),
Trim paint: FreshAire’s off-the-shelf white semi-gloss paint
Tub/shower tile: white subway tile from Home Depot
Bamboo blinds: Home Depot
Extra long shower curtain & liner: Amazon (our waffle curtain and fabric liner are both 95 inches long)

I'm planning on getting these things different:
floor tile: totally unsure what it will look like, might be a different color
vanity: found one at Home Depot
faucet (both sink and shower)
light fixture: will do something similar and cheap!
shelves for above toilet: will be painted the same white as the trim. Shelves will store things in glass jars on top (cotton balls, q-tips) and baskets.
mirror: I want to do an oval medicine cabinet
towel racks: will put two towl bars on the back of the door, plus a small one next to the sink for hand towels

Unsure about:
reglaze the tub or get a new one?
keep the old toilet or get a new one?

I'm planning on doing lower end (but still nice!) finishes. My expensive taste threatens to do me in though! My plan is to start looking at the lowest end item and then gradually price my way up until the items don't look cheap to me. I also plan on hunting around for deals using the Habitat for Humanity Re-Store, coupons, ebay and Craigslist. I have time on my side for now.

I'm hoping that these 2 projects come in under $5,000. Then I'll wait more than a few months to save for and start the kitchen renovation. I think that I can get all of the supplies for the bathroom for less than $1,700, but the labor will be where the real expense is. I wish Mr. Cupcake or I felt confident enough to do more of this stuff ourselves, but I want it to look right and I'm willing to pay someone to do it. Tiling the bathtub area is a good start to my home improving and will save a little bit.

Today I'm grateful for: things starting to come together

18 Days Until Home Ownership: Getting My Life in Order

2011-11-14T07:52:00.000-05:00

I'm feeling slightly less out of control because I made a list of all of the stuff I need to do and am slowly checking things off of it. Slowly being the key word. I've made new home stuff and job stuff the priority, so my goal is to do one thing related to each of those two things, every day until (a) I move and finish redoing the house and (b) I get a new job. I need this to be in bite sized pieces so it feels more manageable.

Monday:
Home: scan and send proof of wire (from the money my parents sent to me) to mortgage broker
Job: update resume

Tuesday:
Home: get info from 3 floor re-finishers
Job: email resume to 2 of my colleagues/friends to look over, ask if they would write a recommendation on LinkedIn for me

Wednesday
Home: follow up with floor re-finishers
Job: tweet (on my personal account) something smart related to my job hunt

Thursday
Home: start looking into prices for bathroom updates
Job: find 2 jobs to apply to, start writing cover letters

Friday
Home: check in with mortgage broker, see how everything is going
Job: finish applications, send to jobs

Saturday
Home: catch up day (finish/do anything from the week that hasn't been completed)

Job: look around LinkedIn, see if there is anyone who can help

Sunday
Home: go to tiling workshop at Home Depot (so excited for this!)
Job: catch up day (finish/do anything from the week that hasn't been completed)

Please hold me accountable! I need to get stuff done!

Today I'm grateful for: having a good boy who I know would never cheat

29 Days til Homeownership: Renovations

2011-11-03T05:38:00.000-04:00

The condo needs A LOT of work, so I figured I would list it out in an approximate order of attack. I'm going to do some of the stuff before I move in, especially a few things that will be toxic/stinky or inconvenient to live through. Mr. Cupcake is in his place for at least the next 3-6 months, so I can always stay with him if, say, I don't have a bathroom. And some of the things on this list are dreams that I don't think need to happen or won't really add that much value to the home.

Anyhow, here's the to do list:

Knock down built ins in bedroom (before I move in)
Refinish floors upstairs and downstairs (before I move in)
Paint living room, bedroom and hallway, install new crown moulding (start before I move in)
Update Bathroom (new: vanity, light fixture, mirror, storage options, tub, tile for floor and shower, paint; change to pocket door?) (start before I move in)
Build out closet in bedroom
Install closet organization system in bedroom
New fan/light fixture for bedroom, recessed lighting?
New light fixture for upstairs hallway
New light fixtures for kitchen/dining area
Install recessed lighting in living room, remove ceiling fan

Paint closet and cabinet interiors a fun color

New curtains for living room, bedroom and dining area
Knock down wall between kitchen and dining room
Add washer/dryer (buy washer/dryer)
Update kitchen (all new appliances, install dishwasher and garbage disposal, new cabinets and counter tops, add back splash, add peninsula or island, new lighting, update flooring in kitchen/dining room)
Make it home-y (add pictures to the walls, organization systems, decorate with new pillows and accessories and accents)
Power wash, stain and seal the deck (in the spring)
Mount tv(s) on the wall in living room/bedroom
New finnial for stairway, paint bannisters and railings
Paint steps?
Put in new, modern interior doors

Whew. It's a lot written all out like this and I'm sure that's not even everything. That's all I could brain purge right now. Approximate order of attack is bedroom, bathroom, living room, kitchen/dining room.

Any thoughts from homeowners who've done renovations?

Guess this is where the no spending money on shopping until 2012 comes in (only exceptions boots and underwear). And extraneous eating out is also being cut.

Today I'm grateful for: working from home. It's so much better.

30 Days til Homeownership?

2011-11-02T07:17:00.000-04:00

So I want to thank all of you for your genuinely supportive feedback. It has really meant a lot, especially since I wasn't entirely sure how the blogosphere was going to take the news about how much my parents are helping with the purchase.

There were a couple of financing/price questions and I'm going to do my best with them since I haven't fully nailed down my financing yet. It's all still in progress and I guess I'll keep you posted when I know.

Leigh asked:
How did you pick the loan terms? 30? 20? 15? year fixed? ARM?
One more question - did you shop around for the mortgage or just go to your normal bank?

Right now, I don't have a mortgage nailed down. I am talking with a few lenders and the interest rates I'm being quoted have ranged from 3.875%-4.125%. Those are all for 30 year fixed loans. I'm a traditional kinda gal and ARM (adjustable rate mortgages) scare the pants off of me. Rates are so low right now that I'd rather lock in my rate than worry about it resetting to something crazy in the future. That's also how all of those people got in trouble and foreclosed on and I do not want that!

I am shopping around a little for a mortgage because terms can vary so wildly from bank to bank. Sadly, my own bank (Wachovia/Wells Fargo) did not want to touch me, I think due to my job situation. I went into a branch and the mortgage lady was really quite rude and never got back to me. Their loss.

Her Every Cent Counts asked:
What is the cost of your condo -- is it a 1br, and will you be living there alone?

The total cost is $260,000 for a 2 level, 1 bedroom/1 bath condo in Arlington, VA. They are paying $5,000 of closing costs. I will be putting $100,000 down and taking a mortgage for $160,000. If I get a mortgage with the terms that I was quoted initially, I will be paying about $780 a month toward the mortgage, $230 a month for condo fees and $230 a month towards property taxes. My total monthly cost is about $1240 which is $340 more per month than I am paying right now.

The plan is for me to live there alone for a little while and then Mr. Cupcake will move in. There isn't an exact timetable for this yet, but we're both good that this is the plan. I'm excited for him to move in (for many reasons!), but doing that will help us both save aggressively for our second home. Paying just $620/month towards rent and being able to split cable, Internet and utilities will be a huge cost savings for both of us. Plus, we've also talked about sharing one car, which will be even more savings.

Today I'm grateful for: possibility

Last Day Net Worth: October

2011-11-01T14:49:00.001-04:00

Looks like I'm up a significant amount from last month. Win. Cuz that number will be going down REAL fast. Probably next month I won't be able to do a last day net worth because my finances will be a bit wonky with the money transfers and the condo buying and whatnot.

This will be the highest that my net worth will be for awhile and I'm mentally preparing myself to hemorrhage money. Between inspections, closing costs above the $5,000 that the seller is paying, preliminary renovations before I move, a week or two of paying both rent and a mortgage, I'm planning on seeing a good $5-10K just disappearing. And that's a little scary for me. But it's a good investment.

Anyhow, here's the numbers:

Liquid Assets
Cash (checking, MMA, W2S): $31,482.65
GNMA: $19,859.82
Total Bond Index: $20,093.14
Total Stock Index: $28,786.16
Total Liquid: $100,221.77
Percent Change: 4.39%

Retirement Assets
Roth IRA (Target 2045): $6,064.44
403(b) (S&P 500 Index): $20,678.73
Total Retirement: $26,743.17
Percent Change: 10.72%

Total Net worth: $126,964.94
Percent Change: 5.66%

Standard disclaimer: I track my net worth on the last day of each month, so that it remains consistent based on the usual fluctuations in my monthly spending.

Also, I'm not planning on tracking my house as an asset, but maybe I should track my mortgage as a debt? What do you think?

Today I'm Grateful: My parent's generosity. I am so lucky that I got them.

33 Days til Homeownership?

2011-10-30T19:15:00.004-04:00

So I put in the offer on Thursday for $255,000 and they pay $5,000 for closing. They countered on Friday with $260,000 and they pay $5,000 for closing. After much thought, I accepted. I was worried that the house would get some traffic over the weekend and I could lose my edge.

So I'm thismuchcloser to being a homeowner. Crazy.

The inspection was this morning and everything checked out okay. There were some minor things, but with a home this old (built in 1939), that's to be expected. I'm waiting on the final report and the radon test to see what we should ask the seller to fix.

So I still have to finalize the mortgage. I've gotten good faith estimates (GFE) from 2 banks, but haven't formally applied for any mortgages yet. If all goes well, closing will be December 2. Let's see what happens...

There were a few additional questions asked that I will get to this week. I just wanted to give you all the update.

Today I'm grateful for: some me time

More Condo

2011-10-27T09:18:00.001-04:00

There would some good questions on my last post. And since I made an offer (!) on the condo this morning, I figured I should go into more detail in what may seem on the outside to be a spontaneous and maybe not so financially smart move.

Jessie asked:
Do you have your 20-30% down payment already?

I've always been told not to buy unless you plan on living there for at least five years b/c you pay the most interest in the first few years so your equity gains are quite small - is that something you're worried about?

You guys have seen my net worth. It's at the place where I definitely feel I can afford to put a significant amount down. I always had the thought that when my net worth reached 100K that I would start to look for a place, but when I got to that point, I didn't feel ready yet. However, I feel like I'm at a different place right now. I have the money to be able to put at least 20% down, but I'm not going to. See, whenever I would talk about want a condo, my parents would always say that they would help. I never knew how much they were willing to offer until I got to the point where I felt really serious. Guys, they're willing to pay up to $100,000. I know I'm really lucky that my parents are in the financial place to be able to help so much. And before everyone gets all hot and bothered, the way they see it, is that money will be coming to me at some point anyway (once they're gone), so I might as well get to use it now when it can really help me.

I'm not worried about the equity gains being small. I feel like this house is significantly undervalued and once it is updated, it can either be rented or sold for a profit. My monthly home payment isn't going to increase significantly and once Mr. Cupcake moves in, everything will decrease significantly. Maybe we'll even pay a bit more towards the mortgage then, who knows? I'm seeing this as a long term house flipping situation. I/we will live there for awhile and slowly fix it up and wait for the market to right itself.
Leigh asked:
How much of a down payment do you have? Where will the funds come from for doing all of the renovations that you want to do? Do you need to run these by the HOA before starting anything?

With the amount that you need to put into it, could you actually sell it for a profit in a few years?

How much will you need to spend out of your emergency fund? What if it takes you awhile to find a new job and you don't end up staying at this one? You don't even seem to really like it that much.

Do you want your parents to help? I know that I am personally waiting to buy a condo until I don't need my parents' help at all.

I'm probably going to put about $100,000 down, that will make my mortgage payments very reasonable. That money will come from my parents and then all of the renovation costs will come from me and my savings. I can't really fix anything on the exterior, but the interior is all mine. The condo association isn't responsible for what happens inside my place.

Yes, the house needs a lot of renovations, but since it's teeny, it shouldn't be so expensive. I think it could look really, really nice for less than $20,000. I'm going to go the cheap(er) route, Ikea or used cabinets, etc. It is significantly undervalued because the interior is so awful looking right now.

Renovations will be be a slow and steady process, so I'll be able to use some of my money for that, while building back up savings and saving for the next phase of renovations. I still think that I have enough in savings to make all of these things happen.

I do want and appreciate my parent's help. They are good people and I know it won't turn into a fight for control. It's definitely NOT going to be "we bought you this house, so you should XYZ." It's like I said above, the way they see it is that the money is going to my sister and I eventually, we might as well have it to use while we need it. When they eventually pass away, they hope that we will be in a financial place where the money won't make as much of a difference. Now that money can really help us.

Got more questions? Ask away!

Today I'm grateful for: working from home to avoid traffic

Condo?

2011-10-26T08:14:00.000-04:00

Holy crap. I could buy a condo. I'm doing the math and it could work out. The place is listed at $260,000. Hopefully I'll get it for $250,000ish. Condo fees are $230/month. Taxes average to about $230/month also. And if I put 20-30% down, the monthly payments could be in the range of $900. However, that's $460 more in housing expenses than I currently have. I'm pretty sure I can afford it right now. And I can definitely afford it when Mr. Cupcake moves in. But the job situation is only steady until December for sure or March if I'm lucky. My parents will help (and I know I'm lucky for that), but I want to do as much as I can on my own.

The house needs major updates. The kitchen and bathroom need to be totally gutted. It needs to have a washer/dryer added. It needs to be painted. I'm feeling like I could be hemorrhaging money for awhile.

But I think this could be a good long term investment. Condos of this size are renting for more than my mortgage would be. And once it's updated all pretty, it will be worth more. I (and eventually Mr. Cupcake) could live there for 2-3 years, build some equity, save some money and eventually rent it out or sell it for a profit. I think once it is updated, it will be nice. It has good bones and is in a good neighborhood.

Cutting all spending starts now. No new clothes. Minimal eating out. No new anything.

Today I'm grateful for: my dad's advice

+/- update

2011-10-24T09:47:00.000-04:00

(-) My apartment has mice. It's so icky that I have no words to discuss it. I'm genuinely terrified to live there. My landlord is taking care of it, but I still had to trap the mouse I found looking at me from the bathtub when I was brushing my teeth. And I still have to check the traps to see if they've caught anything. So icky.
(+) This one fact has renewed my search for a condo. I thought that when I hit that 100K net worth, I would start looking, but I wasn't ready. I feel like the mice are a sign from the universe that it's time to do just that.
(+) And the search for a condo is leading to some big conversations with Mr. Cupcake. Guys, we're talking marriage. I know, right?
(+) I found a condo I'm interested in. It's terrible. And that's amazing. The kitchen and bathroom need to be redone. A wall needs to be removed. A washer/dryer needs to be added. Maybe some shelves knocked down and a closet expanded. But it has good bones. In a good neighborhood. And I think the price is right. I think I could live there for awhile, have Mr. Cupcake move in, then either sell it and move up in the world or keep it as a rental property.
(+) I've gotten preliminary pre-approval for a mortgage. They're willing to lend me $300,000 which is more than the value of this place. And I found out that I have A+ credit. The mortgage guy said it was the highest he's seen in awhile. The middle score was 801. I'm feeling really proud :)

(+) Things are starting well with Mr. Cupcake's financial turnaround. He's on mint.com now and he's been playing around with it a lot. I think he's starting to see the PF light. I know it takes time for lasting change in that area, but this is a major first step. He'd never tracked his spending before and I know this is giving him an opportunity to think about things that he hasn't before. He's making long term financial goals, and that is totally sexy.

(+/-) I'm still not in love with my temp job. I'm loving the bump in the paycheck and they now have approval to keep me around at least December and want me to stay until at least March. I have got to start looking more seriously at jobs, especially with the potential new expense on the horizon.

Today I'm grateful for: a good, good life.

The Talk

2011-10-05T08:11:00.000-04:00

Mr. Cupcake and I finally talked about his finances and it is not as bad as I worried. Phew! I'm so used to this PF world where some of you are paying off tens of thousands of dollars in credit card debt (which I have SO much respect for you for doing!) that when he said that he had less than $3,000 of credit card debt, I breathed a gigantic sigh of relief. Sure, he still has student loans, but I'm not as worried about those right now.

Less than $3,000 on his credit cards? We can totally get rid of that fast once he has a budget. And he's going to let me help him make a budget. I can't even tell you how excited I am. My inner-PF nerd practically peed herself with excitement.

I know that I can be intense and have a one-track sort of focus when it comes to finances, so I'd love some advice about how you saw the PF light, especially if it was a struggle for you. I'm worried that he doesn't realize the "latte effect" and how those small purchases add up really fast. I want this to be easy for him because I know he will get overwhelmed if I give too much info at once. But I still want him to see the light and that getting rid of this debt is possible to do fast. I'm thinking that the least scary thing for him would be to use mint.com to track his spending and get a sense of where all of his money is going.

Here's my thought process: have him write down all of his fixed expenses for the month (rent, car loans, gym membership, student loan payment) and how much he thinks he spends in other categories. Then we'd input all the data to mint.com to see how it really stacks up. What do you think?

Today I'm grateful for: helping Mr. Cupcake take positive steps for himself and also for us.

Last Day Net Worth: September

2011-10-02T14:11:00.001-04:00

Despite earning a paycheck during the month of September for the first time in awhile, I'm still down this month. Lame.

Liquid Assets
Cash (checking, MMA, W2S): $31,266.43
GNMA: $19,456.75
Total Bond Index: $19,656.71
Total Stock Index: $25,625.89
Total Liquid: $96,005.78
Percent Change: -1.66%

Retirement Assets
Roth IRA (Target 2045): $5,513.12
403(b) (S&P 500 Index): $18,641.69
Total Retirement: $24,154.81
Percent Change: -6.92%

Total Net Worth: $120,160.59
Percent Change: -2.76%

I'm basically at the same point right now as I was in December of last year between the combination of no real income for 2ish months and the tanking stock market. I'm still in the 6 figure club, but I'm a little concerned that my net worth did not increase at all this month with my increased paycheck and, thus, saving more.

Standard disclaimer: I track my net worth on the last day of each month, so that it remains consistent based on the usual fluctuations in my monthly spending.

Today I'm grateful for: attending my first wedding with the boy (not ours!)

What am I thinking?

2011-09-16T08:04:00.000-04:00

I'm wondering more and more about what I was thinking when I quit my job with minimal to no plan.
Yes, I know the economy is bad.
Yes, I know that a lot of people are looking for work.
Yes, I know I live in high cost of living area.

But I found a job with minimal effort.
Yes, it is not ideal.
Yes, it is temporary.
Yes, it pays damn well.

I've been networking up a storm. I've been letting everyone I know/meet that I will be looking for a job come November. I've been becoming more involved in professional organizations in my field.

But I haven't really applied for that many jobs. And I haven't really looked that hard at the job listings. And I don't really know what I want.

I don't need a job again until mid-November. But I don't really want to have a job again. I just want to do something I love every day and get paid for it.

What am I doing? Seriously?

Today I'm grateful for: fun surprises in the mail

On burning bridges

2011-09-14T09:02:00.000-04:00

I'm not sure how much detail I've given about my first job on here. I know I've referred to unhappy I was, how much I hated my boss and how my misery started spilling over to other parts of my life. I still call the boss the b!tch from hell (shortened here to BFH).

Background on how miserable I was at that job. I wrote in my blog at the time (and keep in mind that it was 2006 and I didn't use capital letters):

i'm in an abusive relationship... but it's with my boss. she has me feeling so stupid and useless that i really believe i am stupid and useless. now i get it.

but it's a good thing that i gave my 2 weeks notice. i keep thinking of the line from the first season of desperate housewives when rex is moving out and bree says to to him: "why is this happening?" and rex says, "because you won't even let me pack my own suitcase."

metaphorically that is my life here. it is a battle for control that i keep losing and will never win. and i guess i am like rex... moving out and moving on. sort of.

And it looks like our paths may cross again.

A little background, in my industry her job is referred to as a supplier and I'm on the other side, someone who would utilize her services. My current boss, who I really like and respect, mentioned that she had a lunch appointment that I might like to join her on with BFH. As soon as I heard the name, my stomach dropped. I told my current boss that I would prefer not to go to the lunch because BFH and I did not leave on the best term. Current boss understood and isn't the hugest fan of BFH either, but current boss is much better at the shmoozing game than I am.

BFH is apparently a member of the same professional organization as I am, so our paths will definitely cross at some point. I'm dreading that day.

I burned that bridge and I'm going to have to see BFH.

Have you ever burned bridges? Did it come back to bite you?

Today I'm grateful for: catching up

Odds and Ends

2011-09-12T09:15:00.000-04:00

(+) I got my first paycheck on Friday. I get paid weekly now which is kinda weird, but I'll take it! I made $873. For one week. If I work 40 hours a week (which won't happen every single week, due to holidays, etc.), I'll make $800 a month more than at my last job. Hardcore.
(-) I won't make as much for this past week's work since I didn't work on Labor Day.
(-) I'm still not sure how I feel about the work itself. Sure the money is nice, but I don't know that this is the type of place that I want to work for the long haul. My coworkers are nice and I really like my boss, but working for such a big company just feels restrictive. There are rules and policies and procedures and forms for everything with not so much room to figure things out or do it my own way.

(-) Mr. Cupcake and I still haven't had "the talk" in regards to money. We've talked about it, but not in as much detail as I would like. I want to know numbers. How much debt does he really have? Does he have a plan to pay it off? I think talk like that stresses him out and my one track-ness on the topic doesn't much help.
(+) I am totally, 100% out as a crazy coupon lady. I even took Mr. Cupcake to CVS on a trip with me. He was super impressed by all of the stuff that I got for $1.28. He's also starting to incorporate some of my cost saving measures in his own grocery and toiletry shopping. We talk more now about sales and coupons and I love it.

(+) Mr. Cupcake got a new job. It is a very lateral move and his income is only going up by about $2,000. There are some additional benefits that will help pad his paycheck a bit more--transportation benefits and his company's large health care benefits contribution. He's been looking for a long time and I know the work will be more fulfilling for him.
(-) I'm happy for him... really, but I'm feeling a bit selfish. I want him to be more financially stable. He's 6 years older than me and I worry about our long term financial stability. I want to have the option of working part time after having babies and I don't think that will ever be an option with him. We have so much fun together, but I'm starting to worry that this financial side of things could be a deal breaker.

How do you feel about your partner's attitudes towards money? If they were drastically different at the start, what did you do to make them closer together?

Today I'm grateful for: a me day

Last Day Net Worth: August

2011-09-01T04:48:00.000-04:00

Since I took a bit of a hiatus in July, I haven't done one of these since June. I did make note of my net worth in July, I just didn't post it because it was getting depressing. A two month break from getting a paycheck combined with a seriously moody stock market definitely led to a dip in my net worth. When you last saw it, I was at $130,652.26. Now... well... see for yourself.

Liquid Assets
Cash (checking, MMA, W2S): $32,064.89
GNMA: $18,951.83
Total Bond Index: $19,033.54
Total Stock Index: $27,571.35
Total Liquid: $97,621.61
Percent Change: -3.49%

Retirement Assets
Roth IRA (Target 2045): $5,996.09
403(b) (S&P 500 Index): $19,954.85
Total Retirement: $25,950.94
Percent Change: -5.53%

Total Net Worth: $123,572.55
Percent Change: -3.93%

I'm down about $7,000 and I definitely haven't spent that much in my two months of unemployment. Damn you stock market!! I guess the more you invest, the more you risk losing. I'm in it for the long haul though.

Standard disclaimer: I track my net worth on the last day of each month, so that it remains consistent based on the usual fluctuations in my monthly spending.

Today I'm grateful for: keeping my net worth in the 6 figure club :)

Day 2

2011-08-30T19:10:00.000-04:00

I've finished my first two days at the new job and I'm feeling... something. I'm learning and trying to take it all in and I just feel kinda blah. Is it bad that I don't want to work and just be independently wealthy? How do I make that happen?!?

Okay. I sound totally ungrateful. I don't mean it. I'm happy to have a job and a nice paycheck, but the company I'm working for is HUGE. It's such a change and I feel like a teeny cog in a giant machine. I walk down the halls and don't know anyone. People seem happy to work here and there certainly are a ton of benefits that come with working for such a big company, so that's a positive. I just miss my old co-workers who were so lovely and predictable. It's hard being the new kid on the block when you know there's an expiration date. I'm adjusting, I guess.

It's just hard because I was so ready for a change. And I am ready for a change. I just want it to be a settled in already change. So I know what's going on and can do my job.

And, don't get me wrong, I'm working hard, trying to make a great impression, saying thank you a lot, trying to meet everyone, dressing extra professional and cute, asking lots of questions and all of the new job things you should be doing. I just feel like it's back to the grind.

Can anyone tell me I'm not alone with the new job blahs? Any teachers who recently went back to school feeling them? I'm not the only one, right?

Today I'm grateful for: catching up with some trashy tv and eating some mac and cheese

First day of work, hurricanes and other life updates

2011-08-27T18:20:00.000-04:00

Monday is supposed to be my first day of work, but will it actually be? Hurricane Irene! Please stop coming. Momma needs a paycheck! Though it might not be the worst thing in the world... See, I am super not a morning person. My last job was great for me in that regard since I didn't usually get to work until 11am or so. I could sleep until 8:30 or 9am and go to bed at midnight and be totally rested to start my day. I need A LOT of sleep, obviously. Since I found out I got this job, I've been practicing getting up earlier and going to bed earlier, but I'm not sure it's been working as well as I want. I need to (wo)man up and get ready to wake up at the same time as regular people do. *sigh* (f)unemployment has been rather fun...

Other life updates, I've still been networking up a storm, trying to keep myself fresh in the minds of people who might be able to help me once this job in done. I'm ready to go to work and wow them. I think.

Mr. Cupcake is in Vegas with some of his boys for a bachelor party. Dislike. I totally trust him, but I hate that he's out at strip clubs and drinking a ton and firing guns and all the sorts of things that boys do when no girls are around. How do you feel about your boyfriend/fiance/hubby going to bachelor parties?

Today I'm grateful for: company during the storm

I'm out...

2011-08-17T09:57:00.002-04:00

... as a couponer to Mr. Cupcake. What did you think? ;)

It's been a slow and steady process, but once he saw my coupon box, that was it. I'm totally out with my crazy coupon lady ways. And he loves it. Seriously. I've been getting him deodorant and toothbrushes and other toiletry things for less than $1 to free. I'll slip him a coupon every now and again for things that he regularly buys. I'll sign him up for a free sample of something I know he'll use. And who doesn't like presents, especially things that you will definitely use?

Sometimes he teases me a little bit about it, but mostly I think he is kind of proud that I kicked Harris Teeter Super Double's butt. I got $72 worth of merchandise for $19. Which kind of makes up for the $195 wallet, right?

And yesterday, he even asked me if I would help him learn how to coupon. I think this is love :)

Today I'm grateful for: a really good, healthy relationship with Mr. Cupcake.

Negotiation WORKS!

2011-08-15T10:59:00.000-04:00

So I didn't formally accept the job until today. My new boss gave me the weekend to think about it and told me to call today with my decision. If you recall, she had offered me $28/hr which works out to $58,240/year. But I negotiated and it worked! I was freaking out a little bit, but I think I sounded calm. It was over the phone so I had this script in front of me (that Mr. Cupcake helped me write) which totally helped:

I wanted to let you know that I’m really excited about the position and the possibility of working with you. However, the one thing holding me back is that I have to pay out of pocket for my own benefits. I spoke with XXXX about the cost and I was hoping there was some flexibility on your end with regard to pay rate to compensate for this.

STOP TALKING! :-x

Be in control of the conversation. Get what you want. You deserve it.

She asked me how much flexibility I needed. I freaked out in my head for .2 seconds and then said "even $1 or $2 more dollars an hour would help." Then she said "so $30?" And I said that sounds good. And guess what? I'm making $30/hr which works out to $62,400/year. WHAT UP extra $4,000?

Today I'm grateful for: being brave and just doing it!

Jobs, Wallets and Guilt

2011-08-13T11:56:00.000-04:00

I got a job. Kinda. See, I networked the crap out of this event I went to and met someone who is looking for a temporary replacement for a coworker who is going on maternity leave. She basically offered me the job on the spot and yesterday I went to meet with her and her team where she again offered me the job.

The job is temporary, hourly and in my chosen field. And it pays $28/hr. Umm... do you know what that adds up to annually? $58,240. Which is almost $15,000 more than I was making at my last job. I won't get any health insurance, but I am still on COBRA for $319/month, so no biggie. I'll start in 2 weeks and work until sometime in November. There is a small possibility that this job will lead to something more permanent, but perhaps not at this specific organization. My new boss (the woman I first networked with) is awesome, very well-connected and has offered to help me with the job search.

I'm getting kind of excited, although I'm kind of sad to leave funemployment behind. I was getting used to lazy days and getting my life in order... but a regular paycheck would be helpful. Especially since I haven't had one in two months.

So after I was offered the position, I did something bad. I went to Tysons Corner (huuuge mall in my area) and went to Nordstrom. Where I impulse bought a $195 Kate Spade wallet. *hides head in shame* I'm feeling a little guilt, although it was really time for me to get a new wallet. My old one was dirty, worn out and had ink stains on it. I didn't need a $195 one though.

Usually when I buy something so pricey, I put a lot more thought into it. I do some research, I sit on it for a few days to make sure I still want whatever I purchased. I did none of that. I rewarded myself by buying something and put little to no thought into it and that worries me. I can't lifestyle inflate too much. The extra bump in the paycheck for 2.5 months or so that I will be working, will probably add up to one of those months of lost wages. I still want to buy a condo in the near future and the potential extra money could put me closer to that goal.

Eyes on the prize.

Even though there was this gorgeous Tory Burch tote that I was eyeing...

Today I'm grateful for: the best job search ever!