BeyondtheWrap's Journal

Where are you and where are you going?
BeyondtheWrap
Posts: 598
Joined: Thu Jul 22, 2010 3:38 pm
Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

OCTOBER 2013

INCOME: 1407
4 Paychecks: 1024
Employer Health Insurance: 132
Birthday Money: 250

EXPENSES: 899
Housing: 400
Groceries: 93
- Food: 81
- Pets: 12
Transportation: 112
Clothing: 4
Health: 144
- Insurance: 132
- Supplements: 12
Entertainment: 142
- Eating out: 65
- Socializing: 55
- Travel: 15
- Candy: 8
Education: 3

SAVINGS RATE: 36.1%

My student loans are in deferment because I'm in school now, so they do not contribute to my expenses. However, the money listed as savings is being used for debt repayment.

Going to school while working full-time is becoming easier, helped by having my days off from work fall on school days. Still, however, I hardly cook anymore.

Work on the house is continuing at a turtle's pace. I must say, doing this work does not make me feel like an independent, competent Renaissance man; it makes me feel like a slave. I really don't want to do this shit. Something to think about when making future life choices.

I got a raise at the end of this month, so my hourly rate is now increased from $9.20 to $9.55. Whether it will be noticeable remains to be seen. Also, I chose my health insurance plan for next year. I chose the cheaper plan with a high deductible, figuring that if I need to go to the doctor I can just go to my school health center for free. So my paychecks should be a little bigger next year.

I am also strongly considering taking a leave of absence from work for a couple of months at the beginning of next year to give me more time to work on the house and get it done with. I'll live on excess student loan money during that time.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

NOVEMBER 2013

INCOME: 1326
5 Paychecks: 1160
Employer Health Insurance: 166

EXPENSES: 1097
Housing: 400
Groceries: 200
- Food: 183
- Supplies: 17
Transportation: 112
Health: 192
- Insurance: 166
- Supplements: 27
Entertainment: 192
- Eating out: 95
- Socializing: 86
- Candy: 11

SAVINGS RATE: 17.3%

I'm getting way more used to the work-then-school schedule. Now I can be at work for most of the day not feeling tired. I don't even need caffeine most days. Then I get on the train to school and I'm out like a light, waking up in time for my stop.

What I'm not so confident with is the food. I still haven't figured out what to eat that fits into both my budget and my schedule. If I have leftover rice and beans, I eat them for lunch at work. If not I either eat this processed crap (of which I keep a stash at work) or buy something at the food court. I also snack on peanuts throughout the day. Unfortunately, this leaves me with no dinner for after-work-before-school; I often eat more peanuts during this time but sometimes resort to fast food, reflected in my relatively high Eating Out category above.

I've also realized that I need to drop certain foods from my diet. I've found that oatmeal, bread, and many other grain products give me heartburn. Sugar and candy often do as well. I recently started taking generic-brand Tums after my meals, but I know that's not a long-term solution. I've already eliminated oatmeal from my breakfast and replaced it with eggs. The other meals are a bit trickier though. I'm hoping that rice doesn't produce the same reaction, but it's hard to tell at this point because I add so many ingredients to my rice and beans.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

DECEMBER 2013

INCOME: 1339
4 Paychecks: 981
Employer Health Insurance: 132
Gifts: 225

EXPENSES: 1109
Housing: 400
Groceries: 137
- Food: 85
- Household Supplies: 41
- Personal Care: 11
Transportation: 112
Health: 167
- Insurance: 132
- Supplements: 35
Education: 18
Entertainment: 275
- Eating out: 75
- Travel: 31
- Socializing: 117
- Gifts: 28
- Candy: 24

SAVINGS RATE: 17.1%

My job gave me fewer hours than normal this month, which seems to be customary during the busy seasons. I didn't seem to mind, though. I find myself valuing my free time more than extra money these days, and have even taken additional days off when the opportunity arose.

I have been incorporating more organic ingredients into my cooking, and I'm glad to see that my grocery spending on food has not noticeably increased. Due to my reduced time working, I have also had time to cook more, so I brought lunch to work most days. However, I still resorted to eating fast food for dinners after work but before school. I also ate out at work for lunch the last few days of the month because I was sick.

Entertainment went over budget this month, as I prefer to keep it under $200. A substantial amount was socializing, which was mostly going out with friends but also included food I brought to a Christmas party. That stuff I don't regret. The candy spending was higher than it needed to be, as I found myself without any candy at home while facing an all-nighter for my school project. I was forced to pay retail price that night.

My education spending was for materials/supplies for that project. One of them was a three-hole punch, which I know I already had, but I had no idea where among my clutter. Again, time was a factor.

m741
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Re: BeyondtheWrap's Journal

Post by m741 »

Good work, I also tend to prefer fewer hours to more money. I think that's a pretty good sign for making progress.

$24 for candy seems like an awful lot! But, delicious.

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GandK
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Re: BeyondtheWrap's Journal

Post by GandK »

BeyondtheWrap wrote:I have been incorporating more organic ingredients into my cooking, and I'm glad to see that my grocery spending on food has not noticeably increased.
Which ingredients have you increased?

I'm still struggling to keep our grocery budget down AND eat healthy AND satisfy all the picky palates in my house.

BeyondtheWrap
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Joined: Thu Jul 22, 2010 3:38 pm
Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

GandK wrote:
BeyondtheWrap wrote:I have been incorporating more organic ingredients into my cooking, and I'm glad to see that my grocery spending on food has not noticeably increased.
Which ingredients have you increased?

I'm still struggling to keep our grocery budget down AND eat healthy AND satisfy all the picky palates in my house.
Now that I think about it, not that much really. I've been eating 2 organic eggs each day at breakfast. I also have been using organic carrots in my rice and beans.

For about a week there, I decided to try organic gluten-free oatmeal to see how it would affect me. My heartburn was much more mild, but still there. I also used organic milk in my oatmeal, and now I add a little milk to my scrambled eggs as well. (I love how organic milk doesn't expire as fast!)

I agree that trying to feed multiple people makes things much more difficult.

BeyondtheWrap
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Joined: Thu Jul 22, 2010 3:38 pm
Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

JANUARY 2014

INCOME: 1132
5 Paychecks: 1013
Employer Health Insurance: 119

EXPENSES: 1109
Housing: 400
Groceries: 220
- Food: 133
- Supplies: 9
- Personal: 10
- Pets: 68
Transportation: 40
Health: 138
- Insurance: 119
- Supplements: 19
Entertainment: 307
- Eating out: 11
- Socializing: 290
- Candy: 6
Education: 9

SAVINGS RATE: 2.0%

I have taken some time off from my job to focus on the home repairs, deciding that I need the time more than the money right now. I decided I would live off the extra student loan money that was left after paying the tuition last semester. That money is not listed above; I view it more as negative savings than income. Fortunately, I didn't really need it this month, since I ended up receiving money from my job anyway.

I only worked for money 2 days this month. 2 of my paychecks were for whole weeks of working, due to the delay between working and being paid. I then also have 2 weeks of vacation checks. My final check was for one day which I worked at the end for technicality purposes.

I'm on the new insurance for this year. Last year, I had fully loaded both health insurance and dental insurance. This year, I opted to go with a high-deductible health insurance (in case I get cancer), accident insurance (in case I get hit by a car), and a fully loaded dental insurance (the math works out to be worth it); the total is about $20/week (compare to last year's total of $33/week). Unfortunately, I will not have insurance for the period of no paychecks next month.

It was nice having the extra free time from not having to go to work or school for a few weeks. I've been getting plenty of sleep and have had plenty of time to cook. Speaking of which, I came up with a solution to my food-induced heartburn. The solution is to eat a spoonful of yogurt before and after every meal; my stomach doesn't bother me anymore when I'm doing this. This is much more feasible when I'm at home all the time; I will probably not be able to do this when I go back to my job.

My entertainment spending was way out of control this month, specifically the socializing item. About half of that was spent on a weekend trip for a friend's birthday. My life satisfaction has certainly gone up due to the increase in hanging out with friends, but it looks like I will now have to be more strict with my money in those situations. I'm coming up with a system to keep it under control.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

FEBRUARY 2014

INCOME: 105 (1 paycheck)

EXPENSES: 1021
Housing: 600
Groceries: 130
- Food: 80
- Supplies: 17
- Personal: 14
- Pets: 19
Transportation: 110
Clothing: 10
Haircut: 16
Entertainment: 90
- Eating out: 23
- Socializing: 45
- Candy: 23
Education: 40
Career fair: 25

SAVINGS RATE: -868.4%

I went back to work starting on February 21, and worked five days this month. I got paid for two of them above. It appears that I no longer have health insurance, so I guess I will have to wait until the next enrollment period.

My housing payment was higher this month almost out of necessity due to my mother's increasingly precarious financial situation. Pretty soon my brother and I will have to cover the bills ourselves without her assistance, so I will be keeping my housing payment at $600/month.

Still working on the house, but it will be at a slower rate from this point forward. Looking at what we have left on the agenda, I project it will take us about another 2 years to finish. Unless we have to stop because the FEMA money has run out. I'm personally hoping for that outcome.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

MARCH 2014

INCOME: 2994
4 Paychecks: 1045
Employer Health Insurance: 80
Federal Tax Refund: 1769
Late Christmas Gift: 100

EXPENSES: 1244
Housing: 600
Groceries: 133
- Food: 111
- Supplies: 2
- Personal: 9
- Pets: 11
Transportation: 112
Health: 121
- Insurance: 96
- Medicine: 24
Entertainment: 223
- Meals out: 43
- Socializing: 152
- Candy: 28
Tax Preparation: 55

SAVINGS RATE: 58.4%

Yeah! $3,000 in income! Feels great to finally be middle class! Haha, just kidding.

But in general, my paychecks (with the exception of the first one this month) are looking better. They are higher than before and have much less variability. I believe this is thanks to the combination of my high pay grade, having taken the cheaper health insurance (which has been reinstated), and, most importantly, actually being given full-time hours every week.

Not much to report on the story with the house. My brother hasn't finished building the furniture for his room and so hasn't moved in yet. There is a general idea that we don't have the money to finish the house, but we haven't yet decided what we will do regarding that in the near future.
Last edited by BeyondtheWrap on Wed Apr 30, 2014 10:56 pm, edited 1 time in total.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

APRIL 2014

INCOME: 1680
4 Paychecks: 1173
Employer Health Insurance: 80
State Tax Refund: 427

EXPENSES: 1254
Housing: 600
Groceries: 114
- Food: 92
- Supplies: 22
Transportation: 112
Health: 226
- Insurance: 113
- Supplements: 40
- Optical: 73
Entertainment: 147
- Meals out: 34
- Socializing: 113
Clothing: 48
Cell Phone: 7

SAVINGS RATE: 25.4%

A few things came up that increased my spending.

I broke my glasses frame. First I tried soldering it back together, but then it was the wrong shape for the lens to fit. So I ended up getting an eye exam at my workplace and then I bought new glasses from Zenni Optical.

The clothing expense was for new shoes, but at least I planned that.

My cell phone, a Samsung SGH x105 that I received for Christmas 2005, is showing signs of obsolescence. This past Christmas the earpiece speaker stopped working, so I had to use the headphone to make calls. This month, the sound wasn't working even with the headphone (this came at an inconvenient time because a job that I applied for was trying to call me), so I bought a new headphone. I immediately regretted that decision because the new headphone hasn't worked any time I tried it. Fortunately, the sound comes back on sometimes, but it's not very predictable.

This saddens me. I really don't want to buy a new phone; I wore this one with such pride in how old it was. At least I can still use it for texting until then, and I still have a house phone as well.

It's nice that I didn't spend anything on candy this month, but that's only because I still had enough left over from last month.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

MAY 2014

INCOME: 1488
5 Paychecks: 1388
Employer Health Insurance: 100

EXPENSES: 2052
Housing: 1200
Groceries: 134
- Food: 98
- Supplies: 20
- Personal: 17
Transportation: 112
Cell Phone: 109
Health: 151
- Insurance: 116
- Supplements: 34
Entertainment: 343
- Meals out: 51
- Socializing: 246
- Candy: 12
- Travel: 34
Education: 3

SAVINGS RATE: -37.9%

My spending was high this month. Good thing I had a lot of extra money sitting in my checking account as an emergency fund.

My increased housing spending was due to the fact that my mom can no longer pay for my house's bills. We had planned that my brother would move back in, but I just found out that he will actually not be. However, 2 of my other immediate family members have their eyes on the space; the near future of this is still uncertain. If no one moves in, I will have to cut some bills to make it more affordable for me as one person.

I refilled my cell phone minutes as I do once a year in May.

My socializing expenses were high due to extra parties.

I have good news on the income side: I got a new job! I interviewed for it at the end of April, received an offer at the beginning of May, and began working during the last week of May. It is a paid internship doing marketing analysis. It pays slightly more than I was making before. The difference might be apparent next month when I start getting paid from it. So my income will go up a little; unfortunately, I will be giving up my health insurance. I am also still working at my old job one day a week to diversify my income streams and to help with my currently increased expenses.

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Chris
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Re: BeyondtheWrap's Journal

Post by Chris »

Wow, May was a pretty big month for you.

Will the new job affect income and expenses in other ways? For example, might you tax-free commuter benefits?

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

Chris wrote:Will the new job affect income and expenses in other ways? For example, might you tax-free commuter benefits?
Unfortunately, no. At this company, interns are paid by the hour and receive no benefits other than paid sick time (and that one is only because of a new law).

At least it's a casual workplace, though, so I don't have to buy work clothes.

BeyondtheWrap
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Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

JUNE 2014

INCOME: 1670
4 Main Paychecks: 1327
4 Side Paychecks: 324
Employer Health Insurance: 20

EXPENSES: 2039
Housing: 1200
Groceries: 169
- Food: 141
- Supplies: 21
- Hygiene: 7
Transportation: 112
Cell Phone: 16
Health: 53
- Insurance: 36
- Medicine: 17
Entertainment: 489
- Hobbies: 350
- Socializing: 95
- Meals out: 44

SAVINGS RATE: -22.1%

So it turns out that I will have the house to myself. I was able to reduce my future housing expenses by closing the storage unit; hopefully my brother continues paying his own car insurance as well. However, I still put more money than necessary into the account that pays the household bills just in case. Without the storage and car insurance bills, I probably don't need to put in more than $900, but I'm being cautious since this is a new change.

With my new job, I no longer have health or dental insurance. I still have accident insurance though.

I'm still working my old job one day a week for the additional income. The strange thing is I don't feel like I'm working six days a week; the old job no longer feels like a job but more like a weekend activity.

My cell phone expense of $16 is because I decided to replace my cell phone with a new one, same model, that I bought on eBay. The hobby expense of $350 is for improv class.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

JULY 2014

INCOME: 1555
4 Main Paychecks: 1297
4 Side Paychecks: 258

EXPENSES: 2856
Housing: 1100
Groceries: 152
- Food: 88
- Supplies: 64
Transportation: 112
Health: 1121
- Insurance: 16
- Supplies: 34
- Dentist: 1070
Entertainment: 371
- Electronics: 16
- Socializing: 301
- Meals out: 53
- Candy: 1

SAVINGS RATE: -83.7%

I spent a lot of money this month, especially because of that dentist appointment. I kind of regret waiting until I didn't have insurance anymore, but oh well. At least that expense will be absent next month.

Moving forward, I'm going to try to get the housing spending more under control. I think I should start just paying the bills directly instead of using my mom's account as a middleman, because currently I can never predict if the account will have enough money in it at the right time, since there are too many hands in it. If I use my account, I know I have enough money.

My income will be going down soon, because I am quitting my second job and will reduce my hours at my main job to free up time for school.

My life-happiness levels are currently about the highest they've been in a few years. I credit this to increased socializing, engagement in my hobby, autonomy and seeing results at home, a better job, summertime, and not answering the phone when my father calls. When school starts again in the fall, I will most likely lose some of this good feeling due to loss of free time, but it's a nice thing to have once in a while to remind me what I'm working towards.
Last edited by BeyondtheWrap on Sat Aug 30, 2014 6:46 pm, edited 1 time in total.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

AUGUST 2014

INCOME: 2156
5 Main Paychecks: 1657
5 Side Paychecks: 500

EXPENSES: 1713
Housing: 915
Groceries: 156
- Food: 87
- Supplies: 69
Transportation: 112
Health: 16
Education: 56
Entertainment: 447
- Socializing: 218
- Meals out: 65
- Travel: 54
- eMusic: 100
- Electronics: 2
Charity: 10

SAVINGS RATE: 20.6%

I really got to work on my housing expenses this month. I cancelled my TV and landline service, since I hadn't watched TV in months and I hardly use the phone anyway; besides, I still have my cell phone. I kept the Internet service. I also cancelled the payments from my mom's account and switched them to my own, so I no longer have to stress about my mom's account being constantly overdrawn.

From now on, I will be paying housing expenses as I go, whereas before I was trying to contribute an average. This will cause my housing expenses (rent, gas & electric, internet, and homeowners insurance are paid monthly) to be relatively low most months and ridiculously high in a few (when they also include flood insurance or water, which are paid annually).

Now I'm starting school again, so I quit my side job and reduced my hours at my main job from 8 to 7 hours per day, so my income will be significantly lower in the upcoming months.

Pronoid
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Re: BeyondtheWrap's Journal

Post by Pronoid »

Nice. That's one of your best month's in a while. I want to live in NYC for that price :D What does the socializing cost consist of? Like eating out and drinks?

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

Yeah, I am very lucky to have such a low housing cost thanks to my situation, which is that I live in a house that my parents bought decades ago, so there is no mortgage. (I'm sure the Midwesterners on this forum would laugh at what we consider cheap, though!) If my housing expenses were too high, I would probably have to take on a roommate, which I'd prefer not to do.

Mini-rant: It makes me somewhat annoyed when I see posts on other web sites in which people say things like, "You need $250,000 just to get by if you live in NYC!" Like, haven't they heard of poor people? There's more to NYC than the Upper East Side. End mini-rant.

Re the socializing, yes, that's exactly what it is. Bars, restaurants, and delivery food. As long as I'm with friends (eating out by myself goes in another category). I mostly use cash for those things, so I don't break it down further. While the cost is very high by ERE standards, I accept the price I pay for something that greatly contributes to my happiness. I've tried the alternative, and I don't like it.

BeyondtheWrap
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Location: NYC

Re: BeyondtheWrap's Journal

Post by BeyondtheWrap »

SEPTEMBER 2014

INCOME: 1191

EXPENSES: 1024
Housing: 516
- Rent: 265
- Insurance: 94
- Gas & Electric: 157
Groceries: 138
- Food: 89
- Supplies: 18
- Personal: 32
Transportation: 125
Health: 24
- Insurance: 16
- Medicine: 8
Haircut: 15
Entertainment: 206
- Socializing: 171
- Meals out: 35

SAVINGS RATE: 14.0%

In most months, the housing category will include a charge for Internet as well. It was absent this month because I recently changed my payment method to Auto-Pay, which charges my account 20 days after the bill date.

During my commuting, I listen to music on my iPod. For headphones, I use earbuds because they are easy to store and carry when not in use.

Recently I had the idea that when I purchase a new pair of headphones (at RadioShack), I should buy the one-year protection plan for them as well. Then, when I return them for another pair, I buy the plan for the new pair as well, and so on, so that I only ever have to pay the price of the plan and not the headphones themselves. If you get the cheapest headphones they have, this strategy works even better, because not only are the headphones more likely to break in the first year, but the protection plan is also cheapest for them.

How has this worked out for me so far? In June 2013, I bought a pair of headphones. They worked pretty well until June 2014 when I noticed that the sound tended to become quieter when the wire moved around or had pressure put on it. I figured that was a good enough reason to return them, so I did, and took my credit in the form of a gift card. Then at the beginning of July, I used the gift card toward the purchase of a new pair of headphones and also bought the insurance for them. The headphones stopped working after about three weeks. So I returned them at the beginning of August for another pair of headphones and bought the insurance for them. Again, they only lasted about three weeks, and I returned them for a new pair at the beginning of September and bought the insurance.

Why are they suddenly breaking so much more quickly? This never used to happen to me. They usually last well over a year. I doubt the newer products sold at RadioShack are that inferior, since the last few purchases were the same brand as the one I purchased in 2013. I doubt I'm storing them in my bag improperly, since I did the same thing in 2013.

Maybe it's the fact that my commute to work became longer when I switched jobs this summer. For my old job, the commute was either 2 short bus rides or a long walk and a short bus ride, and I often remained standing while on the bus. For the new job, I have a short bus ride and a long subway ride, and I mostly sit now. During the winter months I normally keep my iPod in a chest pocket on my jacket, but during the summer I keep it in my pants pocket, causing more pressure and bending of the wire near the jack. I'm thinking this was the culprit, though I'm not sure. For about a week near the end of September I was keeping my iPod in my shirt pocket, trying to be careful, but it still stopped working eventually. Maybe my attempt began too late to prevent the inevitable.

So I'll have to return this pair now for another pair. This time I'll be certain not to keep it in my pants while listening.

Also, speaking of music, you may remember that I have a subscription to eMusic, for which I pay $100 per year. Back in the first page of this journal, forum members anomie and DebtSlaveNoMore suggested I get rid of it. Now I probably will, because eMusic just announced that they will no longer be offering mainstream music; once again, they will only have independent music. I still have most of a year left before my subscription comes up for renewal again, so I'll stay on eMusic until then. Hopefully they have enough artists that I've heard of, and maybe I'll discover that I like something I haven't yet heard. Either way, this will probably be the end of that annual expense.

I will most likely not switch to a streaming service because they are useless to me without my Internet access, which I only have at home whereas I listen to most of my music on the go.

5to9
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Re: BeyondtheWrap's Journal

Post by 5to9 »

I am surprised you are getting so little use out of your headphones. Maybe buying a higher quality pair, or preemptive reinforcement of the wire near the jack would help? I have an iPod charging cable that was showing some wear, and I reinforced it with some Sugru putty and it has been going strong for another two years.

On the music streaming services, rhapsody does let you download albums and listen to them offline.

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