Well we're off and running paying bills! Paycheck was the usual $3500 and I started working from that number. So here's how we paid "da" bills!
First things first...the mortgage. $2500 right off the top. That left us with $1000.
Next, we withdrew the cash for the week. We pulled out $300 (which is our normal weekly cash withdrawal number) and the wife is going grocery shopping tonight. Since we finished last week with $36 remaining she actually has $336 to work with this week. Hopefully we will continue to be under the bar and build up a surplus week-2-week. So we're at $700.
Next I paid the snow service who charged us $50 for the last snow removal (which is hopefully the last one of the year!) So we went to $650.
Next...the cable bill! Which is $155. So that knocked us down to $495.
So now we're sitting at $495. The next thing I did was transfer my overdraft savings account (with a near zero interest rate) to my checking account. Why? I'm going to be closing shop with Wachovia and moving to Commerce Bank. I am a Microsoft Money disciple and Wachovia wants a minimum balance to use Money or be charged $6.95/mo and I think that's crazy. Commerce is our bank at work (we also switched from Wachovia) and they're really helpful and friendly when it comes to account options. Plus MS Money is free to use with their bank regardless of your balance. So the switch is on! So let's add $168 to the total and we have $663. Next I removed the last $37 from my wife's checking account (also Wachovia) and moved it into mine so all the Wachovia money is in one account. She doesn't have any more checks to write or any outstanding checks so we're safe. So now we have $700.
Next, I decided to withdraw $1200 from my Paypal account (ebay money) and put it into my checking account because I want to attack the debt matrix. The payment will not transfer for a few days but this gives us enough time to wait for one of the wife's cc grantors to give us the decision on the loan we talked about earlier (unsecured consolidation loan at 6 percent for 30k). Once the $1200 shows up we'll have $1900 and leave a little bit in the Paypal account. Paypal now allows you to turn the balance in your account into shares of their money market fund which is currently earning 5.05 percent. I left a couple hundred in the account for now (it beats the almost zero savings interest from Wachovia!) and I may just consolidate the other savings accounts that way. I left a couple hundred in case I have to refund an ebay customer (you never know) and to cover seller fees when they come due.
Another good thing is there are only two cc payments due before our next pay period for a total of $247 so I should be able to pay those, throw another bunch of money at my least favorite card (Card 9) and make another nice dent in our debt. So this extra $1200 from Ebay couldn't have happened at a better time! We can't wait to find out how our tax situation will pan out as well. Now that the business returns date has passed (3/15) our accountant's staff will crank out our return (he has a staff member do the return and then he checks it before submitting) and we'll have another chunk of money to pay down some of this debt.
My wife is going to be asking for a salary based raise on Friday too of roughly 25 percent. Since she is part owner the way her salary works is not standard so this raise is actually in line with the other executives. If she gets the raise she's still making half of what her two brothers (the other executives) make so hopefully they vote to let her have the increase. We're having a great year financially so we'll see how it goes.
On the non-financial front, my daughter got the clean bill of health from the doctor today! No more mono. She's ready to go back into basketball training and is excited to get back to playing. I'm glad she's better (and in better spirit!)
Paying the bills
March 21st, 2007 at 07:48 pm
March 21st, 2007 at 09:17 pm 1174511869
March 21st, 2007 at 09:38 pm 1174513139
March 22nd, 2007 at 02:02 am 1174528963
March 22nd, 2007 at 03:18 pm 1174576710