October 18, 2010

October Falls

Filed under: birthday,budgets,children,debt,money — by elysianconfusion @ 1:36 pm
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I keep looking at my chart of how much our debt costs us. It’s Painful! My plus is this: though I haven’t had much to snowball lately, I can still see an increase in the amount of principal I pay in relation to the interest. And I think it’s largely due to my mortgage.

I keep paying the same amount, so now I actually am paying more in principal on the mortgage than in interest (monthly). I *wish* I could fix this rate.

October has been tough again. I think I need to save $100 per month just for birthdays. This seems insane, and I don’t know how it’s possibly true — perhaps I just haven’t really dissected what we spent for my youngest son’s 5th birthday. But if I saved it, it would be there, just in case. I like just in case.

Besides the birthday, we have to pay our town taxes (ouch) and our home owner’s insurance (annual) and for wood. Next month, next month, next month. I feel like that’s all I say. But next month, I think it will all be a lot easier and I will have some money to snowball and we will kick this stupid debt.

Right now, our grand total of debt isĀ $354,485.44. Mortgages, cars, student loans, credit cards. Boom. It’s all there.

Here are my puzzles, chime in with advice, if you please.

#1 — We have 529 plans for the kids but my sense is they’re not the right ones. Help me pick! I’m in Massachusetts, if that makes any difference. The financial advisor appears to be useless and only recommends those related to MFS, without analyzing fees and such. (So maddening, what is she FOR?) Also, for those thinking we’re batty for contributing to college when we should be paying off debt, we’re not. That’s where money goes that people give us for the kids. For right now, for the rest, kids will need scholarships.

#2 My brother-in-law called this weekend to say he wants to hire me to do copy editing and copy writing (free lance). What do I charge?

If anyone has suggestions, I truly hope you will provide them in the comments.



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