Monthly Archives: October 2006

The Joy Of Boredom

Now that I have my emergency fund saved and I am out of debt, my personal finance life has become very, very boring. And I LOVE it. Here’s my monthly financial “to do” list for November:

November 1: Deposit Paycheck 1

November 2: Pay phone, electric, cell phone, dish network, and auto insurance. Bills for the month taken care of. Total (estimated) time to pay bills via online bill pay? 2 minutes? 3 minutes? Something like that. Total (estimated) amount to pay? 400 – 600 dollars…

November 2: My wife and I then take our cash for monthly expenses like food, gas, groceries and other “needs and wants”. Total (estimated) amount? 500 or so apiece

November 8: Deposit Paycheck 2

November 9: Transfer most of paycheck to ING Direct Savings account. Amount? Varies, between 1000 and 1500, depending on anticipated miscellaneous expenses.

November 30: Pay daycare, daughter’s gymnastics, tithe.

That’s it. Simple, easy, boring.

I LOVE IT! Being debt free rules! Having an emergency fund rules! You should give both a try…

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Carnival of Debt Reduction

Welcome to this week’s Carnival of Debt Reduction.

Were in debt with an article about micro-payments.

Blunt Money: Great article about cutting up credit cards!

Free Money Finance with an article about the state of debt in America.

It’s Just Money with an article about payday loans.

Investor Trip with an article about moving debt balances from 15 to 0 percent cards.

Blogging Away Debt with a letter from a reader about getting out of debt.

Debt Free 4 Ever with an article about credit cards.

Wisdom From Wenchypoo’s Mental Wastebasket with an article about parents and kids and debt.

There you go. Those are the articles that were submitted that had something to do with debt reduction. There were a few more articles submitted, but they had little or nothing to do with debt reduction.

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The Dawn of A New Day

I have been sick for four days, but now I am beginning to feel a little bit better. I want to thank all of you who sent your congratulations and comments. You guys rock! I’m going to take a few minutes to answer a few of the questions I have received since reaching my 20K emergency fund goal.

Nickel asked if we could live on just my wife’s paycheck every month. The quick answer is yes, the long answer is no. We can afford to pay our bills if we just live on my wife’s check, but our budget has to be super, super, super tight. I’d say we can “get by” with just my wife’s check (like we are doing this month), but we can’t really “live”.

Nickel also noticed that one of my long-term goals is to save money to purchase a house. (The house we now live in is furnished by my employer.) Nickel asks if I plan to use a mortgage to buy a house, or will I simply save up the money. Again, two answers. Right NOW, if I were to lose my job, I’d either HAVE to rent another home or take out a mortgage to buy another home. BUT, my plan is to save up enough money to actually purchase a home with cash. I know, I know, it sounds strange, but that’s the goal.

Lastly, Golbguru asks why I have such a LARGE emergency fund. The simple answer is that because my house is part of my salary, if I lost my job, I would need enough money to provide not only my salary for 3 – 6 months, but enough money to provide housing as well.

I’ll be hosting the Carnival of Debt Reduction this Monday, so check out the Carnival of Debt Reduction for more information, and get your submissions in now.

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