January Net Worth

December was full of activity. I needed new brakes and tires, paid off one student loan, and spent the holidays with my family and friends. Even through all of those events, I still ended up +754.62 since last month. I have a net worth of -6841.74. I half expected to take a step backwards this month, but it all ended up in the positive direction.

My tires and brakes were a challenge, but I was prepared for it. I had saved up enough to cover the expenses and tossed some of the rest toward that next loan pay off. I am waiting on Great Lakes Higher Ed. to distribute my payment entirely towards the one lowest loan. After that, I will officially be done with two loans. I’m excited to have my payments distributed between less loans, which will make it dwindle more quickly every month.

This month I decided to add in a couple accounts I’ve been leaving out. I added in my tiny retirement fund. I decided to add it, because if I’m losing that amount out of my check each month, then it’s worth adding in my net worth. I also added in my retail credit card to my debt. Between the two, it evens out pretty well. I will consider adding in the value of my car, but I still don’t quite see that as an asset, yet.

I wanted to get my update in before the new year. Everyone have a great and safe holiday with friends and family! Check out my goals for 2016.

I love Mondays!

I am probably one of the few people that truly enjoy Mondays. If someone asks me my favorite days of the week, my answers are Monday and Thursday. Thursday - because it's almost Friday. I found out my love for Monday's is a little more complex. 

Monday is the day that everything starts over. It's the day you can decide to get projects done. It's also the day that growing up - and even until this past summer - I would wear a new outfit. Really, this is something that gets me out of bed in the morning. My shopping habit is something I've been working on so much during this process. I saw on Pinterest, a pin from levo.com. It suck out, because it explained a "habit loop." It's three steps that include a trigger, the act itself, and then the reward. For me, I'd buy (or receive) a new outfit, wear it on Monday, and then get told how great it looks to reinforce my actions. 

I'm pretty proud of myself for how much I've cut back. I haven't bought myself a new pair of shoes, coat, or jewelry in a while. Somehow I still need to get out of bed and make my Mondays special. Now, I've started a habit of wearing something from the back of my closet, or just a "dressier" outfit. It still makes the day special and people still offer the same compliments whether it's old or new. 

How are you changing your habits this month? 
- Following fellow financial independence role models on Twitter, Facebook, Instagram, Pinterest, and through email subscriptions definitely help keep me on track.

Planning Ahead

I had a wonderful Christmas with my family. We did all of our typical celebrations, just minus the snow. Even though it wasn't white, it definitely brought a great close to the year.

I know there are still a few days left until the New Year, but I'm a planner. I've been setting my budget for next month, creating a new spreadsheet tab, and setting my goals for 2016. Paying off my second loan and getting my car fixed, leaves me starting off 2016 with a minuscule amount in my savings. I'll report my January net worth soon, but I'm pretty sure it will go down. It's all good though. One loan is crossed off and my car is working smoothly.

In the New Year, most people make resolutions to work out, stop eating unhealthy, and to spend more time with their family. The thing is, they are impossible to stick to. I instead want to make goals - something measurable and flexible. I love the fresh start a new month offers, so this new year is a perfect time to make some new goals and decisions.

I'm setting myself a hearty goal of paying off $10,000 this year. I was able to pay off over $5,000 since July, so I want to set myself to keep on that pace. I had saved up money before then, but I want to keep from getting stagnant. I'll be including my monthly payments and any extra I can throw at my debt. I did start factoring in my store credit card into my debt, so I want to get that paid off with my tax return.

I plan to track my progress (of course) and see how I'm doing in July. If my goal really is too lofty, maybe I'll reconsider. But for now, that large goal only makes me more excited to start off the year.

What are you changing in the new year? How are you pushing yourself even more?

Second Loan Payoff

I’ve spent the past couple weeks baking, shopping and decorating for Christmas. Next time I’m out, I would love to buy myself a Christmas present. Why do we have this theory in the first place? For corporations to get us to buy just one more gift, for credit card companies to have one more charge we can’t afford, or maybe for us to feel like the stress of the season was worth it. 

I recently bought myself new tires and brake pads. That sure is super fun. I wanted to splurge on a nice hair cut and style for Christmas Eve, but it conflicts with my brake installation. I’m glad I had to talk myself into being responsible, because I really can go to somewhere for a $10 Tuesday cut and be set to go. 

My “present to myself” will be paying off another student loan this month! The second zero on my spreadsheet will make me happier than (most) shoes. Even with my tires and brakes, I still want to get in my extra payoff this month. I know the next few loans will be tough. Each of them is about double what I have been paying off at a time. I’m not sure if I’m going to change my strategy, or if I’m going to just pay off chunks in a different way on the same intended loans. That will be decided later, but to know that I am one loan closer to not paying Great Lakes Higher Ed makes me that much more excited to see what 2016 will bring. 

Did you get yourself a gift? What are your hopes for 2016?

Dress for Success

Ever hear the theory that you should “dress for the job you want.” As I sat at lunch eating leftover chicken parm, I saw a colleague wearing a zip up fleece and leggings. I work in a pretty relaxed corporate environment, so jeans are allowed every day of the week and tennis shoes and sweatshirts are for casual Friday.

The next person who came in was a team lead. She had on a black and grey skirt with some fake leather detail with a blouse and black blazer. What a difference between the two.

I'm probably a little in my financial mess, because I enjoy clothes. My favorite day of the week is Monday. I always pick out a special outfit for that day to help me get out of bed.

Obviously team leads makes more than someone on my level, but that should be a guideline or aspiration. Less expensive skirts and blazers are available that will look similarly professional.

I think that professionalism is worth the investment. Maybe only buy three pairs of dress pants, one skirt, and one dress. There's a week’s worth of professional clothes and no one will care that you repeat outfits in this type of setting.

I could certainly use the rest of this post to give tips and tricks for finding deals on clothes. I also could help you scour the internet - and my email - for coupons, but what I really want to emphasize how important professionalism is for a millennial’s career.

I want to make an investment in my future, and the best way to do that is to invest in myself. I’ve already acquired lots of debt for my education and now is the time to make it count. A professional wardrobe, communication style, and atmosphere will help someone move forward in his or her career.

When I first started my cube-job, I wanted to put up my favorite band posters and was excited for Christmas decorations. Now, I know how seriously the people who have cheetah print everything strewn all over their desk are taken. Plus, that’s a waste of money.

I want to be recommended for promotions and for educational opportunities. Adding more income to my bottom line is an important part of financial independence plan. I know that wearing actual pants instead of leggings won’t be the reason I’m picked over someone else, but I do know that my whole “brand” is what will help me succeed.

Peace of Mind

On my way to work last week I got a flat tire. It wasn't the end of the world - thankfully for a very kind man's help. Previous to his assistance I was on the phone with my dad while trying to lift my spare tire out of my trunk.
I drove the rest of the way to work on the doughnut and also the trip home. I had to get it fixed by Monday, because I didn't want to over do it on my spare and have something even worse happen. I've been putting off getting two new tires, and of course the flat tire isn't one of those two.
My dad took my flat tire into a shop to get plugged - hoping that it would be salvageable. We found out that it has a giant hole in the side and is beyond repair. I searched around and found out that I can get a good deal on all four tires next weekend. My parents are able to switch cars with me until then, and the whole crisis is averted.

This little weekend recap is pretty calm, because of one factor. I've been saving extra funds for a new set of tires. I had over estimated what I would need and now am able to get the four I need. I'm glad I've put aside some extra funds, but it also has pained me to keep it around. I'd much rather put it extra toward my debt each month. The catch is that without saving extra each month, I would be using my emergency fund instead. To me, that is what the emergency fund is for
, but it's really supposed to be the "I lost my job" fund. Like I mentioned last month, that emergency fund means peace of mind in a true emergency, but it isn't an excuse to not plan ahead.

I will need new tires in about a year. I plan to save about $80 a month to make sure that next year I feel as confident as I do now. I don't see the point in saving to have more money, but I do value the peace of mind it offers in tough situations.

December Net Worth

In November I was able to end the month ahead of plan due to being under my budget for expenses. I was pretty excited to see early in December that I am at about $200 away from paying off my next PLUS loan. Currently, I am at -$61,988.50 for my net worth. That is +607.86  from last month. 

Please do enjoy the fancy graphic. Now that I have a visual aid I find myself inputting data more often, because I like to see that upward trend. 

November was great for new opportunities for growth. I read The Richest Woman in America: Hetty Green in the Gilded Age by Janet Wallach, which inspired me to watch more of my pennies. I was able to connect with friends and family while also keeping myself on track. I also experienced a moment of panic. That moment when you're glad that you have an emergency fund.

How was your month? Any successes to share?