Debt Update 3.10.10

Car Loan: $10,218 (655)

Student Loans:

Loan 1: $12,810

Loan 2: Paid Off

Loan 3: Paid Off

Loan 4: $8,548
Total student loan: $21,358

Total Debt including car loan: $31,576

Total debt Jan 08 was: $66,970

I've managed to pay off so far...$35,394

February 2010 Monthly Goals

This month we are going to be traveling Vancouver which I am so excited about. My budget is consist of car payment, student loan payments, entertainment (Vancouver) and misc. expenses. Grocery, insurance, gas, mortgage and everything else in between are covered by my husband.

In February I'll be focusing on my fitness, job search and cpa exam nothing else. Every day I have to make a progress towards these three things. I'm sure Vancouver trip is going to be a life time experience and I'm not going to let unemployment to ruin this experience. On the other hand, we will be really careful with our spending.

Update on $50 challenge:

Wow, total blow out. I spent $155 within 5 days. Saturday and Sunday are no spend days. I'm going to set more attainable goals I guess. $50 was little too little :)

My unemployment days

Today I managed to wake up early. One of the drawbacks of being unemployed, at least for me, is that you lose track of days and start waking grossly late. I used to get up around 7 am now days if I get up around 9-10am, I feel good about myself. After getting up relatively early today, I came to Panera bread to eat breakfast ($5), study and polish up my resume.
Believe it or not I haven’t even updated my resume yet…I had lack of motivation since I got laid of my job. Of course traveling Europe had something to do with it as well. Finally I am back to my normal routine and feeling more motivated about job search. This time I don’t want to jump on first thing I find. I want to pick where I am going to work not the other way around. And I know because economy is so bad, it will take me longer than to find an ideal company.

Today’s goals:
• Make a list of thing I have accomplished at my last job
• Work out
• Painting
• Study

Spending Recap

Today I spent:

• $5 lunch
• $14 at friend's birthday party

Total: $19 Not happy..

Daily exercise update Monday: 45 min cardio
weight: 128

Is $50 enough for a week?Maybe not

I doubt. I officially started my $50 per week challenge but I'm already feeling like I failed. Today's recap (will be rounded):

• $6 postage
• $8 lunch
• $3 coffee and biscotti
• $5 dinner

Total: $22 wow what can I say? $13 lunch and dinner were not necessary. Tomorrow I plan to spend nothing.

Daily exercise update Monday: 1 hour cardio
weight: 128

New Challenge: $50 per week spending

I’ve been using a debit card for every purchase I make since Jan 2008. Although it is working for me, I sometimes spend way too much than I should. Now being unemployed I really need to pay attention how much I am spending day by day. That’s why I decided to go on cash only method for a while. I am going to allow myself $50 per week to spend so my plan is that Monday I'm going to take $50 from my checking and put my debit card somewhere I cannot reach. I think I should be able to pull it off.

Things I should watch out this week;

On Tuesday I am going to meet with my friends to celebrate one of my friend's birthday. I already bought her birthday present and I'll probably get something to drink when we go out thats all.

On Wednesday my friend is coming over to dinner (already have all ingredients for delicious meal) and play wii together. That should be fun!

Daily exercise update Sunday: 1 hour cardio treadmill and some weight lifting

weight: 128

Debt Update 1.23.2010

Here is my latest debt update. Good news, I am doing a lot better than I expected.

Car Loan: $11,394 (655)

Student Loans:

Loan 1: $13,378 (622)

Loan 2: Paid Off

Loan 3: Paid Off (last payment of 600)

Loan 4: $8650 (300)
Total student loan: $22,028

Total Debt including car loan: $33,422 (compared to last month $2,177 less)

Total debt Jan 08 was: $66,970

I've managed to pay off so far...$33,548

Why am I spending money???

I've been spending money like crazzy. As if I have anything to spend. Not only that I dont even have a job!!! I am really mad at myself. Tofay I went to immigration office to give my fringerprints which is all part of coming a US citizen so I cannot complain :) One more step closer! After I left the immigration center I went to an outdoor shopping center and I spent on:

Breakfast $5.00

Lunch $9.00

Victorias Secret $5.00 (soap and nail polish)

Bought 2 Crocs for backyard $10.00 (buy one get one free promotion)

Coffee $1.65 Borders

Puma 2 shoes for $26.08 they had crazy discounts.

Massage tip $10 ( I used prepaid massage but I had to tip)

Crepe dessert w/coffee $11.00

Sunglasses $13.00

Total:$90.73

Now I want to go home and never get out again!Actually, I am going to work out, make my study schedule, work on my website design for the side business and polish my resume...

My 2010 Goals

I don’t know where my 2009 goal list is! At least this time I have a blog where I can write down my 2010 goals and not lose. I am thinking I’ve probably failed most of my 2009 goals since I cannot even find my goals! How embarrassing… I know one thing for sure: during 2009 I traveled a lot which I plan to continue during 2010.


My 2010 goals:

Finances
• Pay off the car loan. Currently, it is $12,049. I need to make couple of extra payments in order to pay off the whole amount.
• Payoff 50% of Student Loans. Currently, it is $23,550. The goal is $11,775. I need to make payment of $980 every month.
• Payoff my sister $3,800 which is for part of the real estate investment we made together. Only $3,800 left to pay.
• Make an additional $5,000 above and beyond my FT job (which I hope I am going to have FT job soon) and Save $5,000 EF fund

Career
• Find a new job!!!
• Pass CPA exam
• Become active within a professional organization

Life in general
• Become pregnant to our first child!!! This is huge. Please pray for me…
• Go to Winter Olympics, Vancouver
• Have many summer parties in our house
• Start writing a book in my native language
• Start my own practice on the side
• Start internet business
• Become a US Citizen

I am hopeful this year... I can accomplish every one of these goals...

Debt Update 1.02.10

Here is my latest situation:
Car loan: $12,049
Student Loans:
Loan 1: $14,000
Loan 2: Paid Off
Loan 3: $600
Loan 4: $8,950
Total student loans:$23,550

Total Debt: $35,599
Total debt as of Jan 08 was: $66,970
I've managed to pay off $31,371 so far...

Debt Update 11.30.09

Yesterday I went ahead and paid off Loan 2 which was $414. Hopefully when I get my next unemployment check I am going to put that money into my checking account and everything will be ok. In addition, I'm skipiing my car payment this month. Every year our credit union gives us an option to skip December if we want, without any penalty. Check with your credit union who knows perhaps you can also skip it for a month.

As of 11.30.09 Debt balance

Car loan: $12, 049
Student Loans
Loan 1: $14,300
Loan 2: Paid Off
Loan 3: $921 I'm planning to pay this one off during December as well.
Loan 4: $9,280

Total debt: $36,550
Total debt as of jan 08 was: $66,970
I've managed to pay off $30,420 so far..Still $36,550 to go..
Once I pay off Loan 3, I'm going to focus on Loan 1 because interest rate is around 10% for the loan. Loan 4 has 4% interest. Car loan is 4.5% which is not bad at all.

Debt situation and unemployment

As you can see on the right side, I have student loan debt and car loan. I've just paid my car loan for this month which is $655. It is alot. I have little bit of rainy day fund but not alot (around $5K). I am definetly counting on my unemployment check to survive. Yesterday I checked with EDD, their automated system said check for $950 was mailed out on 19th. I should probably get it either Saturday or Monday.

As far as my student loans go, I want to keep paying which is around $700 per month.

$700 student loans

$655 car loans

total $1,355

EDD check $1,800 monthly

I need to live on $500 per month.....but HOW?

What is good about unemployment?

What is good about unemployment? Now, I have TIME to do things I never had time before. Since Oct 20th,

• I finished knitting two scarves both are going to be given as christmas presents to my friends.
• Finished reading three books which I've been trying to finish just one of them since January.
• Finally I set up my herb aerogarden which I purchased 6 months ago and never had a chance to set up since then.
• I'm working out twice a day. In the morning and at night. Before I know I hope I'm going to lose 15lbs. (it is painful)
• Trying to start my own accounting practice. Actually now I can sit down and brainstorm, plan out things.
• I started a new blog besides this one which is totally my passion so I hope it's going to take off soon because I spend many hours on it.
• Finally I have time to study for CPA exam.

It is all about seeing the glass half full not half empty...

Plans for this weekend

Tonight I'm going to learn country dance and ohh by the way I live in Orange County so country dance is not something everyone knows. I like experimenting things in life. We shall see how it will turn out. Saturday, I don't have any specific plans. I probably need to clean, declutter my house and study for cpa exam. Sunday one of my couple friend is actually coming down to visit us very first time so I'd like to present our place in best possible light. :) Also this weekend I'd like to think about what kind of things I've learned from the last job I had and what I can improve. Time to time we all need to look at a mirror and self criticise ourself constructively. We are often eager to blame or cricise others first. I want to be able go beyond that and find things I can improve and become a better person.

Finally First Unemployment Check Arrived

Today I received my first unemployment check $475. It only covers 1 week. Some reason EDD doesn't pay for the first week of unemployment instead they start paying from the second week. The checks are suppose to arrive weekly for 52 weeks. Well, hopefully I'm going to find a job before then. It all started Oct 20th...I got laid off and applied for unemployment Oct 24th. Filled out the online form and pushed submit. Waiting period has started..On November 2nd I received a letter from EDD explaining my weekly benefit amount and claim form. I completed the form and mailed it on Nov 3rd. Today is Nov 12th and my check finally arrived. After long 23 days later. In the mean time, bills are coming! No one is waiting for 23 days to send a bill right? They dont know, they dont care. All they want to get paid. Fair. If we didnt have my husband's salary, I don't know what we would do. Now, the first check arrived with another claim form which I need to mail out tomorrow. I am just hoping that this time it is not going to take them so long to mail my check.

What do you do with flakey friend?

Seriously, what do you do with flakey friend? She thinks now unemployed, I have sooo much free time on my hand. Therefore she keeps rescheduling our lunch meeting in last minute for 3 times. I think it is very disrespectful. The thing is I don't even believe her excuses at this point. I might stop seeing her. I mean how could you make an appointment with someone and cancel it three times. Insane. Do I want to keep that type of person around me? Well, what I know is I am so mad that I am not going to schedule anything with her for a loooong time..That is what I know for sure.

Here I am...

After getting laid off on October 20th, I went through many emotions...I consider myself generally positive, optimistic in life. Therefore, I decided to take high road not the miserable one which is sitting, crying and asking why it happened to me not others. Just like many others I also have financial responsibilities: car loan, student loan.. In coming days, I'm going to share about my journey of making most out of unemployment..