April MM Randoms

[wildrice]

I've already basically blown the budget for the month, and it's only the 3rd! But I ordered a bunch of clothes, new bras, some fancy new deodorant, and a new purse within the last week. Then I bought (really cheap) plane tickets to see my family as soon as the CDC changed their recommendations. And H and I both got our hair cut. So I've probably spent like 1k+ in the last few days!

We should be totally fine as long as I stop the bleed now, but I hate front loading the month like that because then I feel restricted the rest of the month. I do plan to do a few things outside of the house now that H and I are both vaccinated (nothing crazy, but going out to eat and probably a baseball game) so we may need to start shifting back to our pre-COVID budget pretty quickly here. The lack of ability to go anywhere or do anything has definitely made me a lot more lax about buying things in the last year.

[sadlebred]

My car needed two major repairs last week. The check engine light came on last Saturday. The emissions system was going to be about $1300 and $750 for a starter from the dealership*. I had a warranty I bought when I purchased the car--7 years or 120,000 miles, it expires Dec. 31 this year. I think I paid $1500 for it. Yeah, I know, don't buy it, but this was 6 years ago. All I had to pay was the $100 deductible. I got a loaner for 3 days free from the dealership since they had to order specialty parts for the emissions system. I feel like I at least broke even on the old warranty!

*I've had much better luck at my local dealership than independent shops in my area--even on price and with the speed of repairs. Plus, they give you a free loaner if you ask for it and one is available.

Since I saved $$ I know something else is going to break now.

[keyslover]

We talked with a Financial Advisor and since then we have:
Funded our 2020 HSA
Opened an IRA 2020
DH Reallocated future 401K contributions

Because of the first 2- I need to amend my tax return and it will give us another refund and put us in range of the stimulus




ETA: much thanks to this board for giving me the encouragement to go forward!

[chpmnk1015]

Apr 3, 2021 19:29:23 GMT -5 keyslover said:

We talked with a Financial Advisor and since then we have:
Funded our 2020 HSA
Opened an IRA 2020
DH Reallocated future 401K contributions

Because of the first 2- I need to amend my tax return and it will give us another refund and put us in range of the stimulus




ETA: much thanks to this board for giving me the encouragement to go forward!

Way to go!

[fryjack2]

Sorry Covergirl82 and chpmnk1015

We owe a lot less in taxes than we usually do.  I was surprised by that.

I shopped around for insurance as ours was so high and I got a lower quote through a different agent.  Our agent of over a decade had originally said what we were paying was the best he could offer but then I told him we were switching agents and companies and he was able to match the lower quotes.  So annoying. 

We are redoing our walkway and will pay cash for that. There aren't any other major home repairs that we need to do ( we've tackled them all in the last 3 years since moving in) so I'm excited to see the monthly money that we had designated towards those repairs go into our 2nd home fund and travel funds.

We outlined our charity spending for 2021 with where we want our larger donations to go and then how much to give to all the other random requests we get from friends and other organizations. 

I was negotiating with dealerships for a car this past week and then decided I don't actually want one.  Saved 40k! Lol. 

We booked flights, hotel, and tickets to an event in SF for October.  H may have to be there for work, so we will tag along assuming its safe to do so then. Was a spontaneous purchase which we seem to do with travel spending pre pandemic and looks like we will continue as the world opens up. 

[hbomdiggity]

Taking full advantage of tax day pushing a month. We owe 5 figures.

[jwright]

We are bleeding money in the last six months. Both my H and I got new (to us) cars and we finally pulled the trigger on replacing the siding on our house. After signing the siding contract, our AC unit crapped out. We knew it was on its last legs but were hoping to get through the summer. Silver lining is that the AC company had availability and offered a small discount whereas in the heat of the summer it would have been a long wait.

The siding offered a discount for paying cash but we did take advantage of 18 months 0% financing on the HVAC. We paid one car in cash and the other we got a 1.9% loan. We'll pay off both financing deals early but I want to see how everything shakes out.

I'm also annoyed that the siding company made us pay two draws prior to start. One 30% deposit when we signed and then a second 30% the day before they began work. So they were 60% paid (over $25K) before they even showed up to our house.

[Covergirl82]

ellipses84, that free National Parks pass to 4th graders is awesome! For anyone with 5th graders (current school year), they are actually eligible too this year, due to so many shutdowns last year. We're going to use it this summer for a trip out West.

hbomdiggity, we're also taking advantage of the delayed tax filing date. We owe around $5k, so we're going to keep it in our money market account for another month to earn interest. (That $5k actually puts us into a higher interest tier, so we'd like to keep our balance in that higher tier as long as possible. Even though it'll only mean we get maybe $5-8 more in interest for the month. 😆)

[ohgillian]

keyslover I LOVE updates like these. Great job.

[ohgillian]

In the past few days, a few things that had been long on hold have come together and I'm about to pay $18k for a house project and also going to order 2 new sofas. I'm so excited but also even though we've saved up for both purchases, that's kind of a hard gulp on how much it will cost.

ETA: Plus related tree work that's not in that cost estimate! I forgot that part. Plus a $200 car thing.  Plus I had my 2nd hair appointment in a year today and that's like $180 after tip.

It's all good stuff. It feels like a huge logjam has broken. But gulp.

[macmars45]

We got our solar credit from the state, our tax refund and are waiting on our stimulus checks. We'll be throwing a bunch at retirement, buying a couch, and increasing our giving.

[minzy]

Well I’ve tentatively accepted my old job (I have to wait for the clearance check to go through, so I don’t have a start date yet) so I personally will actually be making money again. The take home would likely be enough for all of us to live on by itself, as I think it will be roughly what we tend to spend in a normal year. So that’s reassuring, in case anything happens to my husband’s job (unlikely at this point, but you never know). He is particularly excited about the health care plans we’ll be able to access, because what his company offers is much more expensive and covers very little. I’m not sure what we’ll do with the excess, aside from save more, give more away, and probably try to buy back some of the convenience we’re forfeiting with me no longer being at home (i.e., some child care, maybe someday when covid rates are lower, a house cleaner).

We also spent some money downgrading our hot water heater last week. It was near the very end of its life cycle, and the people before us had an unusually large one (65 gal), so we now have a more normal sized one (50 gal). I hope that switch makes us use less energy, and costs less, too. And we finally got rebates applied for the five friends of mine who also signed up for community solar on my word, so we now have $275 in an Amazon credit to play with. (As I joked to my husband, “Look! I’m contributing!” Haha.) Also on the energy front, my husband’s office is installing a couple of free car chargers. He’s already strategizing how he’ll take one of our plug-ins in one day, and the other the next, to maximize the savings. Oy, lol. He has always loved a good deal.

[Accountingcat]

It’s a busy month for MM members!

I am in the middle of buying 2 cars, unplanned. We went down to 1 car last summer. It seemed like we’d both be remote forever. The car was a 2011 and about to need maintenance and the carvana offer was good so we sold. Last month my 2018 (second) car was totaled. Luckily it was paid off. I replaced that (Subaru 0% loan). Now my spouse has received word that he’s going back to the office full time and I decided to take a job that requires a commute too. I actually still have the insurance money from the totaled car since I wasn’t expecting to get a 0% loan. I don’t think I’m getting another 0% Subaru and I might buy used so I guess I am spending the insurance cash.. So while there’s really no financial issue to go buy another car, it mentally pains me haha

[shaynaatl]

My in-laws had to officially turn over their small business to the bank, after building it from the ground up 10 years ago. It was in an industry that was devastated by Covid, so they saw this coming for a while now. They are retired and fine financially, but it was still a sad day for the family.

[ohgillian]

Apr 6, 2021 7:29:30 GMT -5 Accountingcat said:

It’s a busy month for MM members!

I am in the middle of buying 2 cars, unplanned. We went down to 1 car last summer. It seemed like we’d both be remote forever. The car was a 2011 and about to need maintenance and the carvana offer was good so we sold. Last month my 2018 (second) car was totaled. Luckily it was paid off. I replaced that (Subaru 0% loan). Now my spouse has received word that he’s going back to the office full time and I decided to take a job that requires a commute too. I actually still have the insurance money from the totaled car since I wasn’t expecting to get a 0% loan. I don’t think I’m getting another 0% Subaru and I might buy used so I guess I am spending the insurance cash.. So while there’s really no financial issue to go buy another car, it mentally pains me haha

For sure! There's a lot happening. And this is the busiest this board has been in a long time, IMO.

Good luck re the cars. I totally get it where you said it's not a financial issue but mentally paining. That's how I'm feeling about my stuff right now. 

[ohgillian]

Oh shaynaatl, that's devastating. I'm so sorry for them and for all of you. That's very hard. When you're a business owner, so much of your identity gets tied up in that.

[dr.girlfriend]

Apr 6, 2021 6:48:56 GMT -5 minzy said:

 He’s already strategizing how he’ll take one of our plug-ins in one day, and the other the next, to maximize the savings. Oy, lol. He has always loved a good deal.

I formally award your husband "Honorary MMer" status!

[dr.girlfriend]

shaynaatl, I'm so sorry for your family.

[ohgillian]

Apr 6, 2021 12:09:26 GMT -5 dr.girlfriend said:

Apr 6, 2021 6:48:56 GMT -5 minzy said:

 He’s already strategizing how he’ll take one of our plug-ins in one day, and the other the next, to maximize the savings. Oy, lol. He has always loved a good deal.

I formally award your husband "Honorary MMer" status!

Definitely! Gold star to minzy's H for sure. 

[jewel]

We’ve spent SO much money on the backyard this month. I’ve been paying $800/year to get our palm trees trimmed, and just decided to cut them all down for $1650. Which turned into deciding to replace most of our decorative plants with edible plants. So now we have over 30 berry plants, 10 fruit trees, and various vegetable plants - about half are planted now and half need to be planted this week. I’m in Ca and we are heading into a terrible drought again. So, if I’m going to be watering anything, it might as well be legitimately useful. My kids are fruititarians, so I’m aiming to recoup all of this money in the long run. Lol.

My kids also planted popcorn all over the yard, and they believe they will have snack-producing popcorn trees by summer.

[dr.girlfriend]

Apr 6, 2021 16:36:19 GMT -5 jewel said:

My kids also planted popcorn all over the yard, and they believe they will have snack-producing popcorn trees by summer.

[chpmnk1015]

Apr 6, 2021 9:30:23 GMT -5 shaynaatl said:

My in-laws had to officially turn over their small business to the bank, after building it from the ground up 10 years ago. It was in an industry that was devastated by Covid, so they saw this coming for a while now. They are retired and fine financially, but it was still a sad day for the family.

Im so sorry

[raangoli]

It is MM-related: I am thinking of getting a pest service to do a mosquito shield for the backyard. I would like to be able to enjoy it, but I am a mosquito magnet and that takes all the relaxation out of sitting on our new deck. But I am not sure if that is just a waste of money because does it even work? A neighbor said it does, so maybe we will give it a shot.

Anyone use a service like this and want to share the results?

[ohgillian]

Apr 7, 2021 6:55:48 GMT -5 raangoli said:

It is MM-related: I am thinking of getting a pest service to do a mosquito shield for the backyard. I would like to be able to enjoy it, but I am a mosquito magnet and that takes all the relaxation out of sitting on our new deck. But I am not sure if that is just a waste of money because does it even work? A neighbor said it does, so maybe we will give it a shot.

Anyone use a service like this and want to share the results?

When you say "mosquito shield," I don't know exactly what you have in mind. We get a monthly mosquito spraying from around April - October, though. We've gotten it for 2 years now and it has returned the use of the yard to us. My next door neighbors are bee keepers and have thriving colonies despite our having the service. (I admit I have mixed feelings about our doing it, but, we do.)

[raangoli]

Apr 7, 2021 8:48:32 GMT -5 ohgillian said:

Apr 7, 2021 6:55:48 GMT -5 raangoli said:

It is MM-related: I am thinking of getting a pest service to do a mosquito shield for the backyard. I would like to be able to enjoy it, but I am a mosquito magnet and that takes all the relaxation out of sitting on our new deck. But I am not sure if that is just a waste of money because does it even work? A neighbor said it does, so maybe we will give it a shot.

Anyone use a service like this and want to share the results?

When you say "mosquito shield," I don't know exactly what you have in mind. We get a monthly mosquito spraying from around April - October, though. We've gotten it for 2 years now and it has returned the use of the yard to us. My next door neighbors are bee keepers and have thriving colonies despite our having the service. (I admit I have mixed feelings about our doing it, but, we do.)

Yes - that is what I mean - I think one of the places around here must refer to it as a mosquito shield. I will shop around and see what people like in or area. Thanks!

[ohgillian]

raangoli, I think ours is $69/month. They come with this big blower thing -- it's like a leaf blower of sorts, but blows the power or chemicals or whatever. It has made a huge difference.

[raangoli]

ohgillian - Thanks. I think for our area from April - October, I've seen it around $500 - $600. I sent a request to a place that is supposedly organic and so we will see.

[zaneyzoo]

Apr 1, 2021 8:42:32 GMT -5 ohgillian said:

I asked last month about my life insurance issue - where we had a policy of DH's that the company wanted to transform into something else. This was on top of the term we already have. Anyway, you guys were helpful and I have a call this morning to talk to the LI guy about it finally. I plan to end the policy.

ETA: zaneyzoo , thanks for recommending I ask about a "reduced paid up" option and whether it is dividend producing. There is an option like that, and the guy is going to find out about the dividend part. 

I hope you were able to find a suitable solutions on this.  I meant to ask earlier and totally forgot.  

[jewel]

Apr 6, 2021 22:07:25 GMT -5 dr.girlfriend said:

Apr 6, 2021 16:36:19 GMT -5 jewel said:

My kids also planted popcorn all over the yard, and they believe they will have snack-producing popcorn trees by summer.

They asked, and I told them it “might work - who knows!” And then I did my yard work for like 2 hours in peace while they planted all of their popcorn trees 😂

[ohgillian]

Apr 7, 2021 12:07:57 GMT -5 zaneyzoo said:

Apr 1, 2021 8:42:32 GMT -5 ohgillian said:

I asked last month about my life insurance issue - where we had a policy of DH's that the company wanted to transform into something else. This was on top of the term we already have. Anyway, you guys were helpful and I have a call this morning to talk to the LI guy about it finally. I plan to end the policy.

ETA: zaneyzoo , thanks for recommending I ask about a "reduced paid up" option and whether it is dividend producing. There is an option like that, and the guy is going to find out about the dividend part. 

I hope you were able to find a suitable solutions on this.  I meant to ask earlier and totally forgot.  

So actually I was debating posting to ask the board what to do. There's no right answer here, but here's where I'm at.

Option 1: cash out, which means we get the ~ $8600 value, but that's taxable and we're in the 24% bracket (I know our effective rate isn't 24% though...). 

Option 2: Turn the $8600 into a reduced paid up policy, not dividend producing, has value of $23,000.

I ran the math and it's kind of a toss up, not knowing how long anyone will live. But I am pretty sure I'm doing Option 1, just for the simplicity of it. We don't really need this policy, and I would rather not have one more thing to keep track of. I called the guy yesterday and he emailed me the cash out form.

Thanks again for advising me!