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Time to Refocus

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2K views 25 replies 18 participants last post by  homesteadmamma 
#1 ·
So, as many of you may know, in September, I set a goal for our family to save $10,000 by June 2009. It was a good goal, and we did well in the implementation, however, I am not sure that I truly thought it all through.

First of all, I’m in grad school right now and am not getting reimbursed for the rest of the credits, so I’m paying $7,000 out of pocket for grad school. Also, I have to take the principal’s exam in January, which costs $480. I have 2 boys in daycare, which costs approximately $1800 a month, and our mortgage is $2600 a month (but we always pay $2800). Originally, I did figure these in, but seemed to forget their real impact on our budget. The truth is, these things make it difficult to save in general.

This is not to say that we can’t save anything. We certainly can, and we’d be remiss if we weren’t working our butts off to save SOMETHING.

I also changed direction a bit, partway through my self-challenge. We used to charge everything and paid off our cards at the end of the month. However, I decided, this year, to pay cash for as much as I could. The original goal had me putting all of my piano money into our second bank account, but I made a different decision with that cash and instead, used it to save for Christmas, which we paid for mostly in cash, and to pay for other things that came up, like skate rentals during the kids skating lessons, etc. I also have to admit to being weak and using that money to pay for getting take-out once a week.

So, where do we stand now?

I’m not walking away from the goal all-together. However, it’s time to redefine, refocus, and repurpose. My spring semester bill will be coming in January, and it will be $5000. Quite frankly, that’s going to wipe us out. The saving that we have done will be taken for that. The good news is that I graduate in May and so after that, no more grad school bills. The other good news is that after May, I move over on the salary guide, so next September, I will be making more money as a result of the degree. More good news is that our middle child will start kindergarten in September, thus eradicating a daycare payment.

Dh is getting a dividend check in January, which we are anticipating being a few thousand dollars. We may need to use it for grad school, we don’t quite know yet what we’ll do with that. I plan on still putting the $200 piano lesson check I get from the one family right into our extra bank account, and using the piano cash I get from the other family to pay for skate rentals, putting aside for birthday shopping (we don’t go crazy on birthday shopping, however, we do have 3 kids, so the money will be for party (again, we do small parties at home) and gifts), and I also have begun my own, special fund where I’m saving to purchase a treadmill…a good, electronic, fancy treadmill, as another goal of mine for the new year is my fitness.

Dh and I are planning to sit down this weekend and come up with some firm, quantifiable goals for the new year, so when we do, I’ll fill you in then.

In the meantime, I have to admit that my 3 original mini-goals still stand. I haven’t been too successful with them so far, so I plan on kicking it into high gear starting January 1. I’ve been distracted by grad school, and that is certainly not going away any time soon, and my internship and action research that needs to be completed by May and directing the school musical is definitely going to add to the distraction factor, however, I’m going to try to remain focused.

To that end, I’m reposting the original mini-goals, what we do well and what we need to work on, as a gentle reminder to myself where we are:

Here’s what I think we do well:
•We have a shared commitment to this goal
•We’ve taught our children good money management skills and they don’t have the “gimmes”
•Utilize the library for dvd’s and kids books
•Pack all lunches from home
•Cook homecooked meals and not eat out (on our dime)
•Teach piano for extra income
•Freecycle to get things that we need (like J’s fabric scraps…it’s a great hobby and we’ve made it free)
•Sew ripped clothing to make it last longer

Here are things we can improve on: (feel free to add)
•Find cheaper/homemade healthy snacks for lunchboxes and home
•Reducing our grocery bills (means we may need to get more creative with our meals…we can hack it…smaller meals means smaller waistlines, too)
•Hang dry all of our laundry (just need that outside line)

Mini-Goal #1
$200 per month AT LEAST goes into that special account. Obviously, we’ll put more in, but we must put in at least $200 a month
Mini-Goal #2
Keep our Amex under $750 per month, which includes our groceries, which brings us to:
Mini-Goal #3
Groceries under $350 per month. Diapers, paper products, and all other items included. Just need to get creative.

So, as I said, I’ll be back with a firm, overarching goal, but in the meantime, I’ll keep on keepin’ on.
 
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#2 ·
Sounds like a plan Amy! Busy busy!
 
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#4 ·
Amy,
Congratulations on the grad school thing! I've found your thread to be most inspiring. You have reminded me that while our goals are good, the need to be flexible is good too!

I know for myself that when I set things in stone that I'm tempted to just give up when it would have been easier for me to bend.

P.S. if you made your own laundry soap (maybe you already do) you would save ALOT. I know that making my own laundry soap I have personally saved LOTS and it was noticeable within the first 2 weeks.

Best wishes on grad school
 
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#6 ·
IntlMom...end of semester is crazy...I've had presentations and papers for all of my grad school classes, and since most are done in groups, we go from house to house to work on it. Not a lot of time at home. :( However, after next Wednesday, we're off until January 21st. Whoo-hoo!!!
 
#7 ·
Sounds great! Getting out of grad school will leave you feeling like a completely new and FREE person!
 
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#8 ·
I think the fact that you are accessing your situation means a lot. Making adjustments is an important parts of reaching goals. I also think there is nothing wrong with revisiting the goal altogether. Goals are just a part of the bigger picture. They are about reaching a destination, so what if the route changes.
 
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#11 ·
<<My spring semester bill will be coming in January, and it will be $5000. Quite frankly, that’s going to wipe us out. The saving that we have done will be taken for that. >>

Aren't you happy that you have it all saved?? Good for you! It may not go where you initially wanted it to go, but it's going where it's needed.
 
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#12 ·
I think any time we work on a goal long term we need to re-evaluate every so often. Life happens. What worked a couple of days ago may not work today. You seem to be right on top of that. Good for you for just reprioritizing!
 
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#14 ·
I love your plan! It's so well-detailed and articulate, preparing for everything and anything that's going to come up before September. :)

I really need to get going on something like this.

I'm glad your family's completely on board with your goals. It's always better when they're on the same page and realize that your goals are beneficial for the entire family. Right now is a great time to get that plan written out with your mini-goals so you can focus on it head on come January 1st. :D
 
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#15 ·
I've never regretted going to grad school, and I know that it will open a lot of doors for you.

Being able to refocus is important in the frugal life. Why keep on doing what isn't working? Keep up the good work!
 
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#19 ·
It's interesting...I hadn't planned on going back to grad school. I earned my first masters in 1998 from Rutgers in Social Studies education. However, in the state of NJ, in order to earn a principal certificate, you must earn the Master of Educational Leadership degree. So, back I went. I'm learning more in this masters than I did in the first, and I admit, I am a bit of a school geek. I LOVE going to school and learning things. They've been recruiting me for the doctoral program, but I think I may need to wait until I get an administrative position and have it written into the contract that the district will pay for it. That's generally how it's done in NJ. Otherwise, it's $40,000 out of my pocket. Hmmm...definitely NOT frugal. :)
 
#16 ·
Thanks Amy for sharing your goals and helping some of us (ME) realize that goals can be changed and restructured. After becoming debt free...I am planning on saving my money to go to school and finish my accounting degree.
 
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#17 ·
So, last night threw in an added rub.

I've been getting migraines and some pretty serious headaches that are not migraines, but still quite painful on a regular basis. Some were sinus headaches due to sinus infections, but not all.

So, I went to the doctor last night to have her check me out. She diagnosed the migraines and prescribed a medication for them. However, she also was feeling around my neck and shoulders and said that she had never felt muscles quite so tight. Could be a result of the botched surgery from last year, or could just be general tension, thus making tension headaches.

So, she prescribed a low dose muscle relaxer and also said that I need to be getting massages on a regular basis. Okay, who isn't up for a massage on a regular basis (I've never had one before) however, they cost $75 a pop and my insurance won't pay for them. So, she had suggested once a week for awhile, so I've got to add in $75 a week on massages into the budget for the new year. Gotta admit, feels really, REALLY selfish to put something like this in my budget, but I realize it is like a medical payment.

So, as I craft my 2009 goals, just something else to consider.
 
#22 ·
Amy,

We have a couple of spas around here that offer a couples massage class. In this class they teach the spouses how to give a message. If you could find something like this, it might be worth it for you guys to take together and then you will be able to do it yourselves. This will definitely save in the long run.

Good luck with school and the headaches.
 
#20 ·
Amy, sorry bout the migraines. Justify the massage as preventative health care. If you had to miss school one day it would cost more than $75.

Homesteadmama is right if anyone can do it, you can.

Your massage therapist might get you fixed so well that you can go twice a month.
 
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#21 ·
Well, Amy, I get massages on a regular basis (just hung up from making an appointment!), and they are definitely theraputic. You won't regret it.

But as to the cost...... Here's what I do. The place I go offers gift certificates around holiday times: Christmas special, Mother's Day special, etc. They cut $15 an hour off the special. I save up and buy several of the specials and then use them until the next special comes along.

They also offer a package of massages. For example I can buy a year's worth of massages for a discounted price. I usually don't have enough money to get the package, but it's much cheaper, for sure.

So it wouldn't hurt to check for specials deals and discounts.
 
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#23 ·
So sorry about the headaches. I have nasty migraines so I know how bad they can be. (I'm on imitrex.) I also have horrendous tension in my muscles and my nurse practitioner also recommended massage. I called about 10 different places and got 10 different prices. Do check around and don't forget health clubs, sports places and possibly massage schools. They have to practice! Hope your head is tip top shape soon.
 
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#24 · (Edited)
Forgot to mention that the local community college near my sister has a massage therapy course. They offer massages for $10 for an hour!! All are given by last semester students under the supervision of the instructor. I had one there once, and they did a great job. Too bad it's not close to where I live.........
 
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#25 ·
I can empathize! I just finished a Master's in Educational Admin, and get what's called chronic daily migraines... am on sooo many meds. I've been prescribed chiropractic (which does help) and massages, and my insurance pays a nice portion, but I am too disorganized and, well, it's a long story but I can never seem to commit to going in. Something (like substitute teaching) always seems to get in the way. Believe it or not, I am making it a resolution to take care of myself better in 2009 and get back to chiropractic -- to doing something for myself that might help me take less medicine and feel more like a human being.

BEST of luck to you at school, in dealing with those nasty (!) headaches, and in finding a way to finance the massages that help you so.

~Mary
 
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