Monthly Financial Update! And some musings, too.

by jolyn on September 3, 2011

in Personal Finance Updates

I harbor no illusions that you all are waiting on pins and needles for my next post. Or that you even notice if I’m posting or not. But I miss you guys, I really do. I miss this blog. When I do get on I don’t even recognize the updates and I have to fumble my way around and the whole place feels like someone came in my house when I wasn’t home and rearranged my furniture. sniff. 

If thoughts could be posts your inbox would be inundated by now. Or your facebook feed. Or twitter. Or your google reader. (Does anyone still use that?) Or whatever method you use to follow your bloggies.

Alas, I actually have to get on here and type, and think coherently, and write accordingly, with no interruption, for at least five minutes. In a row. 

So many things pulling me in so many directions right now. And it seems that blogging, for me at least, is like not replying to an email from a friend right away. And then so much time goes by you feel like you should write a really good email. Which takes more time so it takes even longer for you to sit down and do it. Then when you finally do, with good intentions, you write a bit, then you get interrupted and it gets sent to your drafts. Where it languishes. And then…

You get the idea.

But enough already.

FINANCIAL UPDATE!

Debt Balances as of the End of July 2011:

  1. *Credit Card Transfer: $9,999.99
  2. Vegas Rental Property:  $103,715.28
  3. Ohio Rental Property: $167,482.34

Total Debt: $281,197.61

This is a difference of $7,638.50 owed since last month.

*The credit card transfer used to be our second mortgage for the Ohio rental. Back when the rental was still our primary residence.

Breakdown of Regular Payments:

  1. Credit Card Transfer: $0 due –> $7,166.24 paid
  2. Vegas Rental Mortgage: $647.00
  3. Ohio Rental Mortgage: $1641.58

Total Monthly Payments: $9,454.82

So many things in my life are in disarray right now, and finances aren’t excluded. Waaaaay back when we found out when we were moving, I stopped our debt snowball and focused on bulking up savings, to the tune of some $20,000. gulp.

That sounds like a lot to just have lying around, at least to me. And I’m okay now telling you how much we had because we no longer have it so all you creepies out there won’t go stalking my children with plans of kidnapping and demanding exactly $20,000 for their safe return because you know I have it.

There, now you know where I draw the line on blabbing about my finances on the internet. I’ll talk debt all day long. But don’t ask me how much cash I have. I’ll assume you’re plotting to kidnap my children.

So $20,000 sounds like a lot of liquid cash to have. Yea for us! That is… until you remember that we still owed about that amount on our final non-mortgage debt.

(A debt that used to be the 2nd mortgage on our home in Ohio. A home that is now yet another rental property.) (So our mortgage debt is actually all on rental properties now. Properties that used to be our homes.) (Does that still make it mortgage debt?) (Follow?)

It was really, really hard to let that $20,000 go. I wanted to keep it, man. But it wasn’t really ours. Not so long as we’re in debt.

But I couldn’t let the whole thing go and pay the whole thing off yet because we’re still waiting for the dust to settle on the work for replacing our roof on our Ohio rental. That’s another post, but suffice to say for now that Hail Hath No Fury like a random tornado touching down in Centerville, Ohio.

(I can tell you the name of the Dayton suburb we were living in now that we’re no longer living there, heh-heh.)

So I picked a random amount to pay off a big chunk of it while keeping aside enough to weather the storm, so to speak, while the insurance claim gets all sorted out. Oy, vey. Can you say Property Insurance Claim? Ever done one? Not fun. Especially when you’re in the middle of a move.

Links to More Bloggie Financial Updates! 

Don’t forget if you’re reading this on email you’ll need to click over to the actual site to view the links. Please go and comment and encourage each other on these financial journeys we’re on!

And for your updates — don’t forget to link to the update post itself, not just to your blog. Otherwise your link will be deleted!

Happy Number Crunching!
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{ 5 comments… read them below or add one }

Ben - BankAim September 15, 2011 at 8:17 pm

Wow.. sounds like a really busy month. I think its better to have rental properties in this market than to sell now. Its a sweet plan. My wife and I plan on doing the same thing when we decide to move. We will rent out this house and probably move out of state somewhere, where we will start again, buy a house and probably one day down the road rent it out.

[Reply]

jolyn Reply:

In our case, I’m not sure I would categorize this as a *plan* so much as a fall-back position. I do not recommend long-distance landlording! Even if you do hire a property manager. To quote Dave Ramsey: “It’s a nightmare.”

[Reply]

Jaime September 11, 2011 at 2:17 pm

I miss you around here! I’ve been checking to be sure I hadn’t missed a post! But believe me, I understand. My blog too has seemed to fall by the wayside with both hubby and I working new schedules and the kids going back to school. It’s always something, isn’t it?

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Allysgrandma September 4, 2011 at 12:48 pm

I understand the craziness of living in California….I do too! I have you on my yahoo reader so I don’t miss anything. Just got home from 3 weeks in SC where I spent entirely too much money. Back to budgeting (especially since my disability just ended). Hang in there!

[Reply]

jolyn Reply:

Traveling is definitely a budget-buster. And moving, too! I really want to get my number-crunching mojo back together and blogging feels like a big part of that. Thanks for following along!

[Reply]

Andrea @SoOverDebt September 4, 2011 at 11:17 am

I definitely notice when you don’t post – I just checked yesterday to be sure I hadn’t missed one! I admire you for being able to save $20k and use it responsibly. If I ever make it to that amount in savings, I might lose my mind.

When I was still married, we had a severe ice storm (no power/water for 9 days) followed by a wind storm a month later. We fought the insurance company for MONTHS to get our roof replaced, despite the fact that we came home after the ice storm to giant stalactites hanging from the new hole in the ceiling. We ended up having to get an independent adjuster to come out, see the 50+ shingles on the porch, and determine we needed a new roof. I so feel your pain!

[Reply]

jolyn Reply:

But here’s the kicker. Right now we aren’t putting anything toward retirement. And believe me you, it was really hard to put that $7k+ toward debt instead of into a ROTH. But no matter. And we had no real problem getting our insurance to pay for a new roof… but getting the job finalized with the contractor long-distance has been another matter. And until the job is finished with invoice in-hand, we don’t get the final check from insurance. Thank God the damage wasn’t severe. I honestly wouldn’t have realized the damage was that bad if my neighbors hadn’t started having their roofs inspected and we would have moved none the wiser.

[Reply]

Mary K. September 4, 2011 at 9:17 am

I miss you when you don’t post!!! So there, you have at least one reader who does. :) Thank you for sharing your financial journey with us. We’re knee deep in student loans around here and I want it GONE!!!

[Reply]

jolyn Reply:

You will get them gone, Mary, you will! Thanks for following!

[Reply]

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