Friday, March 1, 2024

February Snowflakes

February extra income and credit card rewards!

NFCU Amex $50.00
Chase Reward $1.18
Chase Reward $42.62    
FNBO Interest $90.82
NFCU Interest $61.05   
USAA Interest $0.09 
Total $245.76
YTD $528.64

Rewards of $93.80 went to our van loan. Interest is being held in the savings accounts. 

The Payback: February Progress

We are paying ourselves back for the car we helped our daughter purchase. The goal is to return $11,000 back to our savings account by the end of 2024 or sooner! These payback posts are to track that progress.


February additions
Gap Refund $932
Income 2/1 $415
Income 2/15 $500 
Total $1847.00    

YTD $2,619.32
Left To Goal $8,380.68

Quite happy with the progress this month. Stuck to the planned contributions from income and added a significant refund to the goal, which cuts one month off the time to goal. We will keep pushing on!


Thursday, February 1, 2024

The Payback: January Progress

We are paying ourselves back for the car we helped our daughter purchase. The goal is to return $11,000 back to our savings account by the end of 2024 or sooner! These payback posts are to track that progress.

January additions

$735.94 Income
$36.38 Ebay Sale

Total  $772.32
Total YTD $772.32
Amount left to goal $10,227.68  

January Snowflakes

Extra funds and income earned in January 2024!

I'm sweeping credit card rewards to our van loan. I'm saving interest in our savings account. Any other income that arrives will be help pay ourselves back for the car we helped purchase for our daughter. I will be tracking this payback in a separate post. The goal is to get to $11,000 by the end of the year. (see separate post on this progress)

Ebay Sale $36.38
US Bank Reward $32.85
Chase Freedom $11.45
Amazon Rewards $3.99
Amex Rewards $32.76
FNBO Interest $100.34
NFCU Interest $65.00
USAA Interest $0.11
Total $282.88
Total YTD

I sent credit card rewards in the amount of $81.05 to our van loan this month. The ebay sale went to pay us back for daughter's car. And the interest is being held in our savings accounts. 

Wednesday, January 3, 2024

December Snowflakes

Time to make a concise report of the extra funds found and earned in December

Chase Reward $7.32
Amex Reward $18.60
NFCU Reward $167.37
USAA Subscriber Pmt $101.13
USAA Interest $0.10
FNBO Interest $123.39
NFCU Interest $64.90
Total $482.81

Credit card rewards and interest on our savings are the primary ways that extra income arrives in this house. I used to spend time doing surveys, or selling things online. I currently am not doing those things. I am grateful for higher interest rates and will enjoy them from a saving perspective while we can! 

Starting in January, I will sweep credit card rewards towards our van loan. I will let the interest continue to accrue in our savings account and add to the available balance. 

Thursday, December 28, 2023

Setting Goals for 2024

I made two savings goals, beyond retirement, for 2024. 

1)Return $11,000 to savings for the car debt we recently paid off. I have a plan that will use regular income, $917/month. I will also send found money here as well. Always good to fatten the cash reserves!

2)Save $400 a month towards a vacation. The where and when are still to be determined and my hope is that we won't spend that much, but I'd rather oversave then under save. If we take a vacation before fully funded with current income, I will use current savings, but then keep filling in monthly to pay ourselves back.

We also have some debt to pay.

We have a loan on our 2023 Honda Odyssey. We have been paying it faster than required. I believe it was a four year loan, which we are 16 months into. The goal is to pay it off by June of 2025 half a year before my husband retires. I have the payments set as $600 twice per month. 

I'd like to sweep extra funds into both the savings repayment and the car. I might have to do a little of both depending on what I have to work with. I guess after thinking about it a little. I will consider credit card rewards towards van loan. I will keep interest earned in savings, but not necessarily counted towards my two goals above. 

The other thing that I'd like to buy is a new sofa and loveseat for our family room. Our 'fake' leather is peeling and the cushions aren't as firm and comfortable. If I buy in 2024, without specifically saving for it (we already have a good savings account) I will probably pay ourselves back for that in 2025. 


Tuesday, December 26, 2023

Paying Off A Car

We helped our daughter buy a 2013 Honda CRV earlier this fall. At the time, she didn't have income, nor much credit, so my husband cosigned a loan for her. The interest rate was a horrific 10.24% because of her lack of credit. Apparently it would have been higher if he wasn't on the loan. The plan since then was to pay it off within 15 months to reduce the interest rate. 

Our daughter now has a job and has moved to another state where she will need title to register the vehicle. The process seemed a little cumbersome with a lien on the title between our state and her state. Today, I decide to pay it off in full to get the lien removed for easier transfer. 

The downside, less cash in our savings account. The plus side is saving thousands in interest, plus the gap insurance will be prorated and returned to us as well. And no debt on that car.

I will be making a plan to pay ourselves back the money we moved from savings over the next year. This is in alignment to have the loan paid off by the end of 2024. It feesl good to pay off this debt!