MM Randoms

[ohgillian]

What's new money-wise?

[ohgillian]

I'm trying to build a long-term financial model for retirement and b/c I have an error somewhere (I hope!) it currently shows DH and me being $12 million in the hole. LOL. We don't expect to be $12m to the good, but we certainly don't hope to end life in the red.

I've finally made a little progress on my goal of organizing and making notes about the finances for DH in case I were to die unexpectedly.

[wildrice]

I am working on a refinance. I decided to go with the 20 year schedule, which is nice considering we're only 1 year into our 30 year mortgage right now so it should save us almost 9 years of payments. It is slightly more expensive than our current payment, but it's less than what we used to pay in rent so we are already used to having it in the budget.

I also opened a new bank account today, which the mortgage guy said would be fine as long as I wait until after we close to transfer all our money over. There is a promo running where I'll get $300 for opening the new account, so I didn't want to wait!

It just occurred to me that we're paying 4k for windows later this month, I hope that doesn't scare the mortgage company? I should probably check in on that. I'm not sure we have much of a choice in the matter (we've already made an initial payment and signed a contract, plus we need the windows!) but IDK?

[simpsongal]

The school year starts a week after next and I'm excited to stop this summer shuffle of camps and piecemeal daycare.

I'm bummed our daycare is so expensive for just 3 days/week of care and shorter hours ($1250/mo). Last year of DCP, can't wait!

Meanwhile, kid activities are becoming a real budget line. Swimming 2x, piano lessons 2x, soccer 2x, dance class, etc. = $$$

It looks like we'll be able to do our next reno early next year. I need to do some landscaping this fall, that spending goal should help reel me from spending too much.

wildrice, IDK re: the $4K, maybe mention it to the broker? You may be past underwriting at that point and it won't matter. Crickets on our refi! Grrrr.....

[ellipses84]

@ On Monday I will write the last check for daycare!!! After 10 years of daycare payments! Also, they are the only place I still write paper checks to 😆. Both kids got into free aftercare at school which means I’ll have an interruption free workday for the first time in a year and a half. I can focus and work more hours to make more money! We will have summer camp fees next year but it’s still a big savings. Other extracurriculars are a tiny amount compared to daycare in our city.

I have a big to-do list this month, some financial.

DH interviewed for a new job and is a top contender. There’s pros and cons but it’s an amazing opportunity with great benefits. If he gets the offer, he will probably take it and stay on part-time / occasional at his current job which means keeping some amazing perks. If he doesn’t get it, we’ll be perfectly fine too. It’s nice to interview without the feeling that you “need” the job.

[mommin]

We moved out of California at the end of last month. DH and I didn’t live in the exciting area of California that any tourist would ever want to go to but we’ve never known anything different. I am shocked by how much cheaper a lot of stuff is compared to our previous, cheap-by-CA-standards city. A few examples-
- Our house is about 1k feet bigger than our previous house, we’re keeping the temperature cooler since we’re working so much, and our electric bill is $180 compared to $400+.
-we have slightly better auto insurance here and it’s $103 per month compared to $165
-new house cost 3x what we paid for our old house but our property taxes are $1400 less per year here
-we will pay $1500ish less per month in income tax
There’s probably more but those are the ones I thought of off the top of my head. DH also received a $10k raise to come here and a 75% bonus potential compared to the max of 25% at his old company. Had he worked here last year he would have made about $80k in bonus money based on the percent the employees in this service area earned. Instead, we received his bonus check last week from the previous company…it was $500. Total. For the whole year of COVID Hell in healthcare. We’re not sorry we left.

[chpmnk1015]

Still trying to keep a tight budget as I continue to look for a job.

We had saved already and hired someone to do built ins and fireplace mantle, etc. Paid 2/3 but he never came back to finish.. he finally called last night (we have been texting and calling, had talked to him last week that everything needed to be done by tues) and after all isn't coming back.. so, we are finishing... but, hoping he doesn't send a bill? Then that will be some.extra money.. I mean he didn't complete it. 🤷

Trying to sell some stuff on line to declutter make some gas money

Been eating from the freezer to just clear it out and cut the grocery spending a bit.

[krystee]

We opened our first nonretirement investment account, refinanced for the second time in two years (from 30 to 20 to 15), and credit card debt will be finally gone in October, so I am finally feeling like we’re making real progress!

[melmel48]

I figured out how much I can afford to send to my ROTH IRA and set that up with my financial advisor. I also do the 401k through work. I am finally at the point where I know what my take home is going to be and can do a new budget. Yesterday was 3 months at my job. Now my health insurance is being taken out, along with dental and 401k. I have the actual take home now. Before I had no idea what my take home would be, so I was having trouble budgeting.

Now I can also figure out how much I can afford to save towards a big renovation we are supposed to be doing on my building (condo).

[jewel]

An MM vent:

I HATE hate hate that mortgages are managed and sold independent of the consumer. We had a really good mortgage company for several years, and they sold ours about a year ago. The new company is awful. The website is bad. They've wrongly assigned my payments several times (principal payments sent to prepay monthly instead). No one ever responds to my emails or call, beyond "we've contacted the appropriate dept for you" and I never hear back. It's ridiculous that I can't shop around and leave for better service elsewhere, beyond paying $$ to actually refi. I'd never pay any other company $700 per month for this kind of service. It's bananas!

[Roc A Bee]

We are building a home, so I suddenly feel broke. I’m just trying to save as much as possible over the next 3-4 months. We have the DP saved from a house I sold in 2019, but I hate spending money I saved. I keep telling myself that the mortgage will be the same as our rent so monthly we won’t see a difference, but seeing $$$ leave the savings account is hard.

[ohgillian]

Aug 11, 2021 19:33:42 GMT -5 chpmnk1015 said:

Still trying to keep a tight budget as I continue to look for a job.

We had saved already and hired someone to do built ins and fireplace mantle, etc. Paid 2/3 but he never came back to finish.. he finally called last night (we have been texting and calling, had talked to him last week that everything needed to be done by tues) and after all isn't coming back.. so, we are finishing... but, hoping he doesn't send a bill? Then that will be some.extra money.. I mean he didn't complete it. 🤷

Trying to sell some stuff on line to declutter make some gas money

Been eating from the freezer to just clear it out and cut the grocery spending a bit.

This is the worst. I mean, I know it works out money wise in the short term with the job situation. But ugh. 

Good luck as the job search continues. 

[ohgillian]

Aug 11, 2021 19:36:35 GMT -5 krystee said:

We opened our first nonretirement investment account, refinanced for the second time in two years (from 30 to 20 to 15), and credit card debt will be finally gone in October, so I am finally feeling like we’re making real progress!

Wow - this is a lot of progress. Nice job!

[chpmnk1015]

Aug 12, 2021 8:18:09 GMT -5 ohgillian said:

Aug 11, 2021 19:33:42 GMT -5 chpmnk1015 said:

Still trying to keep a tight budget as I continue to look for a job.

We had saved already and hired someone to do built ins and fireplace mantle, etc. Paid 2/3 but he never came back to finish.. he finally called last night (we have been texting and calling, had talked to him last week that everything needed to be done by tues) and after all isn't coming back.. so, we are finishing... but, hoping he doesn't send a bill? Then that will be some.extra money.. I mean he didn't complete it. 🤷

Trying to sell some stuff on line to declutter make some gas money

Been eating from the freezer to just clear it out and cut the grocery spending a bit.

This is the worst. I mean, I know it works out money wise in the short term with the job situation. But ugh. 

Good luck as the job search continues. 

Thanks!  Lucky DH is handy and can do all this stuff anyway.. just couldnt do the fine detail of built ins.. 

[pierogigirl]

Aug 12, 2021 0:33:46 GMT -5 jewel said:

An MM vent:

I HATE hate hate that mortgages are managed and sold independent of the consumer. We had a really good mortgage company for several years, and they sold ours about a year ago. The new company is awful. The website is bad. They've wrongly assigned my payments several times (principal payments sent to prepay monthly instead). No one ever responds to my emails or call, beyond "we've contacted the appropriate dept for you" and I never hear back. It's ridiculous that I can't shop around and leave for better service elsewhere, beyond paying $$ to actually refi. I'd never pay any other company $700 per month for this kind of service. It's bananas!

This is why I have my mortgage with a local bank that historically sells 0% of its mortgages. I pay a tiny bit more, but i know if I have a problem, I can deal with it in person. We just refinanced with them for 2.5%, so I'm happy. I know you don't want to refi and it is a pain, but if you reconsider, look for a local bank or credit union and find out if they sell their mortgages.

[HitchedIn2006]

Aug 12, 2021 15:09:04 GMT -5 pierogigirl said:

Aug 12, 2021 0:33:46 GMT -5 jewel said:

An MM vent:

I HATE hate hate that mortgages are managed and sold independent of the consumer. We had a really good mortgage company for several years, and they sold ours about a year ago. The new company is awful. The website is bad. They've wrongly assigned my payments several times (principal payments sent to prepay monthly instead). No one ever responds to my emails or call, beyond "we've contacted the appropriate dept for you" and I never hear back. It's ridiculous that I can't shop around and leave for better service elsewhere, beyond paying $$ to actually refi. I'd never pay any other company $700 per month for this kind of service. It's bananas!

This is why I have my mortgage with a local bank that historically sells 0% of its mortgages. I pay a tiny bit more, but i know if I have a problem, I can deal with it in person. We just refinanced with them for 2.5%, so I'm happy. I know you don't want to refi and it is a pain, but if you reconsider, look for a local bank or credit union and find out if they sell their mortgages.

After too many issues with a national mortgage company with repairs to our house after a VERY large insurance claim… never again. Ended up getting a new mortgage with a local bank. I would be willing to pay a higher rate, but haven’t- always been competitive.

Plus is so can run down over lunch if I need to talk to someone. Keeping the mortgage in-house and not selling is the best customer service tip I’ve ever learned!!

[Covergirl82]

My job was uncertain for about 6 months as my employer worked through a reorg. I found out a couple weeks ago that not only do I have a job, but it's actually a promotion! So that is pretty exciting. My new net income will be about $400 more per pay, so I'm going to increase my 401k contribution, we'll be able to pay more on the mortgage each month, increase 529 contributions, and start a vehicle replacement fund for when we'll need to buy different vehicles in a few years.

chpmnk1015, thinking of you and hoping you are able to find a job soon!

[sadlebred]

I seem to be behind these days. I have a small landscaping project that will be done this month by the yard service. I'm replacing some really old bushes that look terrible. About $500. Then I have a $1000 expense in Sept. I'll cashflow both, but I'm still not putting as much as I'd like in savings since LASIK in June. I don't regret it, but it's left me cash poor. I'll feel better about it when I don't have to replace my cycling glasses, regular glasses, and sunglasses in a few months. All were in need of replacement.

My job is uncertain right now. There will be a lot of changes come Jan. I need to hang in a few months past that and get medical tests done (once a heart patient always a heart patient) with my low deductible/OOP.

Thankfully my 401K and a few other things come out of my small paycheck, and I never see them. I did negotiate my Uverse and internet bill down $50/month for 12 months, so that's something.