Money!

It's been a pretty good week for money.  Now that my taxes are figured out, I can do some really cool stuff:

1. Today I will file my tax return.  Expecting $5,825 back, probably by the end of March
1. $4000 straight to debt reduction
2. $1700 into eFund to bring it back up to preferred level
3. $125 to ENJOY!
2. Monday I will file a new W4 (W2?) so that I will get the money through the year instead of when I file
1. Approx $150 more per paycheck
2. I plan to continue my expense-reducing plans, and keep living on my current budget
3. Extra money each month will go straight to debt reduction

If I'm looking at this correctly then (god willing and the creek don't rise) I'll have paid off an additional almost $7,000 by the end of this year.  Add in my usual payments, and that's $10,000 worth of debt that should be GONE by the end of the year.  WOOT!

There is hope...

Additional bulb replacements

• Replaced bedroom bulbs with CFs
• Replaced garage flood with CF
• Replaced bedroom ceiling fixture with CFs
• Replaced nook fan-fixture with CFs

And more!

Done:

• Revise power strip usage in livingroom
• DVR in wall for constant power so it will record
• TV and Wii on power strip, and shut off when not in use
• DVD and VCR unplugged unless in use
• Cell Phone:
• DF ordered a charger for his same-carrier phone, so I can probably reduce my plan by a LOT.  I'll wait a few more days to give his charger time to ship.
• Lights:
• I've been really good about turning off lights when I leave a room.  Not perfect, but very good.
• Computer
• I've also been good about shutting off the computer when I'm done for the day... though I haven't been using the power strip.

And some more steps...

• Lower temp at night and during workday. - DONE
• 60 at night, and revisit to see if 55 is possible
• 55 during work day
• Revise "warm up" and "cool down" times - DONE
• Warm up *after* arrival home (or start just before)
• Cool down *before* bedtime, to encourage going to bed on time!
• Unplug everything you can
• Toaster oven - DONE
• Can opener - DONE

Fools' Suggestions for Utility Savings

Having discussed all of this with my favorite gurus of all things, I now need to gather all of the collective wisdom somewhere so I can cope with it.  Like... here.

Gas:

• Lower temp at night and during workday.
• 60 at night, and revisit to see if 55 is possible
• 55 during work day
• Revise "warm up" and "cool down" times
• Warm up *after* arrival home (or start just before)
• Cool down *before* bedtime, to encourage going to bed on time!
• Consider using space heater for very localized heat, but keep house less heated
• Clean furnace filter
• Get plastic for north-facing windows
• Get and install office blinds already!!!
• Research attic tent idea
• Research insulation idea
• Weatherstripping on doors - particularly front door
• Close windows in patio?

Electricity

• Clean dryer lint traps
• Clean refrigerator coils
• Unplug everything you can
• Bedside lamp
• Toaster oven
• Can opener
• Search for more
• Put night-light in office by back door (try to get one that only comes on after dark)
• Replace bedroom lamp bulbs with CF
• Revise power strip usage in livingroom
• DVR in wall for constant power so it will record
• TV and Wii on power strip, and shut off when not in use
• DVD and VCR unplugged unless in use
• Turn off computer AND power strip when not in use
• Turn off bedside power strip when not in use (make sure clock isn't plugged into it!)
• Remove 2 of 3 office bulbs?
• Look into Kill-A-Watt
• Perhaps put standing lamp in office and perhaps put on timer

General

• Check out the Home Energy Checklist
• Look into state incentives
• Review utility bill history

More actions taken

Completed actions from list:

• Personal
• Poker: DONE
• Subscriptions & Dues: DONE
• Other Entertainment: DONE
• Utilities
• Water
• See if sprinkler system is in winter mode.  Adjust sprinkler times if necessary. DONE - I adjusted to 80%.  I'll review again and consider other action.
• Do not run water while brushing teeth. - DONE (today, anyway.  I'll have to keep it up and make a habit of it)
• Electricity
• Turn off lights when not in room - DONE (so far, anyway.  I'll have to keep it up and make a habit of it)
• Turn off various ceiling fans - DONE
• Consider putting computer on timer rather than running constantly - Shut off this morning prior to work.
• Shut off air purifier - DONE 

Actions still to be taken:

• Personal
• Vacation: I have to pay the timeshare every other year, but I can be careful about additional vacation expenses.  We don't currently have any planned, but this is an area I can watch and be careful with.
• Utilities
• Water
• Check if rear toilet is leaking
• Make sure water level in washer is appropriate to load size
• Gas
• Reduce daytime temperature in house
• Reduce after-bed termperature in house
• Check for drafts and see if I can fix any
• Electricity
• Consider putting computer on timer rather than running constantly
• Unplug various unused AC items
• Cable & Internet
• Call and see if they'll reduce my rates at all
• Cell Phone: This is entirely out of hand
• Go through bill with fine-tooth comb and see what can be done here.

Pick some areas and do something

Per my prior assessment, I can make changes here:

• (varies wildly) $200 to $750 - Personal: Allowance, Poker, Education, Vacation, Subscriptions and Dues, Gifts, Other Entertainment, Misc.
• $495 - Utilities: Gas, Electricity, Cable, Internet, Water, Cell Phone
• $300 - Food: Groceries, Restaurants, Fast Food
• $35 - Debt: Finance Charges, Debt Reduction Payments
• $0 - Misc: Savings, Other

I've reordered them in descending order.  I think I should start with the biggest ones.

Detailed assessment of each area:

• Personal
• Poker: Can come out of my allowance, instead of the household budget.  It usually does now, but that's not as firm as it should be.
• Subscriptions & Dues: I canceled my GameFly subscription just now.  That's $25/month saved.  Yay!
• Other Entertainment: This should also come ONLY out of my allowance from now on.
• Vacation: I have to pay the timeshare every other year, but I can be careful about additional vacation expenses.  We don't currently have any planned, but this is an area I can watch and be careful with.
• Utilities
• Water: This is one of my biggest.  I'm using a ton of water somehow.
• See if sprinkler system is in winter mode.  Adjust sprinkler times if necessary.
• Check if rear toilet is leaking
• Make sure water level in washer is appropriate to load size
• Do not run water while brushing teeth.
• Gas: I'm definitely using the heater a lot
• Reduce daytime temperature in house
• Reduce after-bed termperature in house
• Check for drafts and see if I can fix any
• Electricity
• Turn off lights when not in room
• Turn off various ceiling fans
• Consider putting computer on timer rather than running constantly
• Shut off air purifier
• Unplug various unused AC items
• Cable & Internet
• Call and see if they'll reduce my rates at all
• Cell Phone: This is entirely out of hand
• Go through bill with fine-tooth comb and see what can be done here.
• Food - I've already cut out fast food and restaurants.  And I'm having trouble staying within $300 as it is.  I think I'll leave this one alone for now and instead set the following goals:
• Make reasonable menus, including plans to eat frozen meals
• Reduce waste
• Start incorporating pantry into menu
• Revisit this area each month to see if additional improvements can be made yet.
• Debt
• I think this one is about the best it can be for now.  All interest rates are low at the moment, and I can't afford to make faster/higher/more payments yet.
• Misc.
• Nothing I can do with this for now.  Will revisit each month

 

Changes made:
Cancelled Gamefly

Realized Savings from last month::
$0 - Just starting

Additional proposed savings for next month:
$25 - Gamefly
$25 - Utilities(starting small)
===========
$50 - Total Proposed Savings

Current Status

Okay, I have a budget now.  And I've become very aware of exactly what I'm spending and where.  So now it's time to see where I can reduce my expenses in some of the discretionary areas.

Let's start with the current, actual spending (upon which the budget is based, since there just isn't much wiggle room right now):

First the areas in which I don't believe I have enough discretion to worry about right now:

• Healthcare: Doctors, Prescriptions
• Vehicle: Gasoline, Maintenance, DMV, Insurance
• Housing: Mortgage, Landscapers
• Utilities: Trash
• Debt: Debt Maintenance Payments

That leaves me with the following that I have a lot of control over:

• $300 - Food: Groceries, Restaurants, Fast Food
• (varies wildly) $200 to $750 - Personal: Allowance, Poker, Education, Vacation, Subscriptions and Dues, Gifts, Other Entertainment, Misc.
• $495 - Utilities: Gas, Electricity, Cable, Internet, Water, Cell Phone
• $35 - Debt: Finance Charges, Debt Reduction Payments
• $0 - Misc: Savings, Other

Okay, that's a pretty good baseline.  I've got about $1500 worth of stuff each month that I can control to some extent.  And that's half of my expenses each month.  Let's start taking steps.