My Middle-Class Struggle: Catching Up

Friday, June 3, 2011

Because of our trip, it’s been quite a while since I posted the details from our checkbook register.   I’ve been waiting to make sure all of the debits cleared, and to tally the damage to our balance.   Surprisingly, we have a decent balance left in  the account,  almost enough to pay off the Visa card, which we used for our hotel bill and many of our other travel expenses.  I am hoping to pay off the charge card when the bill arrives (for the third month in a row, I think?),  and very pleased that we estimated our travel expenses so accurately.

Anyway, here are the details:

Carryover balance: $205.98

Expenses:      $120.00 graduation gifts (friends and family)

                       127.63 gasoline

                        227.49 groceries/petfood

                          14.00 haircut

                         100.00 cash for travel

                           37.51 household misc.

                         286.23 travel (food, entertainment, etc.)

Income:  $1885.74 full-time paycheck

                  169.54 part-time paycheck

                    42.38 part-time paycheck (reduced hours due to travel)

Current balance: $1387.02

Hopefully, that adds up.  I didn’t want to take the time to enter each individual transaction, since there were so many while we were traveling. 

I noticed the food and gasoline expenses were up dramatically this month.  The food budget will be higher throughout the summer, due to both kids being home from college.  I am trying to compensate by serving cheaper foods, more vegetarian fare and lots of pasta, beans and rice.  I also am trying to make sure we eat all leftovers and perishables, so as not to toss anything due to spoilage.

The gasoline is another matter, and will hopefully be lower this month.  Not only is the price coming down at the pump, but we don’t have any traveling to do that I know of, unlike the last few months, when we drove out-of-town on several occasions.  Still, I totaled it up, and realized that for the past two months we have spent nearly $100 more in gasoline each month than was in our budget!  We will have to scrimp in other areas, such as saving or paying off debt, in order to pay for gas. I'm sure this is affecting many middle-class families in today's economy.  Unfortunately, we live in a very rural area and have no other form of transportation available to us except our own automobiles.

So, I’m trying to decide what to do with the $1387.02 remaining in the checking account.  As you’ll remember, I had transferred $1500 from our savings to help pay for our trip to see our daughter’s graduation.  That left our savings account at only $300, well below the recommended $1000 balance recommended by Dave Ramsey for your starter emergency fund recommended in Baby Step 1.   I would love the security of having this money back in savings, at least part of it, but it is extremely tempting to send it all to Visa and pay that off in one fell swoop, not to mention avoid the interest that would otherwise accure.  What's your opinion? Which would you do?

My Middle-Class Struggle: Travel Issues

Monday, May 30, 2011

Sorry for the long absence, but I'm sure regular readers realized we were out-of-state attending our daughter's graduation ceremony and doing some sight-seeing.  We had a great visit and are so happy and proud of our oldest daughter for completing her graduate work, not to mention receiving a promotion and raise at her job.  It looks like this kid is on her way!  Although she has a very middle-class salary, (as it is an entry level job), I'm happy to report that her hours and benefits package are much superior to what her dad has at his current job. And hopefully, this will be a springboard to a much better salary. Onward and upward!

Our trip was a whirlwind of excitement, including the graduation ceremony, the sightseeing tours and getting to see our daughter's home and workplace.  We were busy every minute of the day, but had a fabulous trip.  As far as expenses go, the jury is still out.  I will report on that in a few days, after the bank has posted all of our transactions.  (This holiday weekend seems to be slowing things a bit.) 

We did have a bit of a problem with our bank.  Seems they are not used to us traveling so far afield, and decided to "protect" us by cutting off our debit card, which they must have feared to be stolen!  After being declined (on payday, no less) for the second time, we caught on and called the bank.  Mr. Struggle spent ten to fifteen long minutes on hold before getting the mess straightened out.  When he added that my card needed to be re-activated also, he was told this had to be done in a separate phone call!  We decided to pass on that, and I just used the cash we had, my credit card or let Mr. Struggle pay with his debit card.  What a pain! The bank will be hearing from me tomorrow...

My Middle-Class Struggle: Juggling Act

Friday, May 20, 2011

I made some money moves today in anticipation of our big trip, which will be here very soon.  I transferred most of the money we have been saving into our checking account, so that it will be available to use for travel expenses and sight-seeing.  I also set up our bills to be paid online, out of next week’s paycheck. I had to guess at the amount and due date for a couple of the bills, because they actually have not arrived in the mail yet.  I was afraid they would be late if I waited to pay these bills after our trip, and I wanted to go ahead and subtract them from our balance, so I would know what we could budget for the trip. My middle-class struggle is turning into quite a juggling act, and this trip, although exciting,  is going to be quite a financial challenge.

I also bought half a tank of gasoline (still hoping for prices to fall!) and a supply of groceries for Struggle, Jr. and Miss Struggle2, who are not going with us, since they went to visit last year.

Here are the details:

Carryover balance:   $107.55

Deposits:                  $169.52 part-time job

                                 1500.00 transferred from savings

Expenditures:           $15.00 haircut

                                   11.08 fast food

                                 148.00 groceries and travel-sized toiletries

                                   30.01 gasoline

Pre-paid bills:           $750.86 Visa (paid off---again!)

                                     53.16 water bill

                                     69.00 home phone and internet service

                                   174.00 car payment

                                   275.00 church donation

                                     44.98 newspaper subscription (quarterly)

Current balance: $205.98

That  $205.98 balance is not much left for travel money, but payday is only five days away and the bills are covered.  Well, except for Struggle, Jr.’s  fall tuition bill, which is still unknown. Harrumph!

I think I mentioned before that we had used the Visa to pay for Mr. Struggle’s new eyeglasses.  We also charged the restaurant meal for Miss Struggle2, as well as her birthday presents and a gift for Mr. Struggle, whose birthday is next week.  We have also bought a few clothing items for our trip.  I don’t know why I didn’t just use the savings account to pay for all of this up front, except that I wanted to be able to monitor what I spent more closely.  I think I’m actually more careful with my spending when I use the charge card, because I know how hard it is to pay it off.  Notice I did send the money to pay it down to zero, so at least we aren’t paying interest.

How about you, do you spend more carefully with your charge card or more carelessly?  Or have you followed Dave Ramsey’s advice and cut up all your charge cards?