Some other "rumblings":
I visited my bank again today. For the third time in two weeks, I opened another account. If you recall, I started with a savings account (savings) and an operational account (bills - money in/money out).
I then opened a Loose Change account...for the obvious reason and to house my mortgage pre-payment monies.
I then opened a Duplex Escrow account...again, obvious reasons.
Finally, I opened an emergency fund account and transferred money from savings into it. It certainly is no where near where it needs to be, but finally, after much study, deliberation and guidance from this site, I feel really good about the allocations my money fall under.
Again, we are talking dollars, not hundreds or thousands, but baby steps right!?!?!?!?!?!......I said...RIGHT?!?!?!?!?!?!?!?! Jamie
Wow......for some reason, I thought it would take three billing cycles to earn my Capital One Quicksilver $100.00 cash reward. However, I just checked my account and poof, there it is. I quickly hit "redeem" and ordered the delivery of my check in the amount of $107.53. The $7.53 equates to the 1.5% I earned on all of my purchases.
As I blogged yesterday, the Quicksilver is laying comfortably in my safe, tucked away for a long summer's nap. But now I am wondering if I should search for yet another great rewards card, open my 4th account, use it for my mulch and other summer yard supplies and tuck it away when done?!?!?! What say you? Jamie
So you may recall my blog from this afternoon suggesting what I was going to do with the funds from my movie sale. I mentioned gas and my contribution to the easter dinner. Well moments before I pulled into the gas station it hit me......USE YOUR CREDIT CARD!! Stick to the plan. Build those reward points. So, now I am going to put $20.00 in my pocket for tolls and parking. I will put $45.00 in my operation account to pay the gas charge from today, $50.00 for the easter dinner groceries I will charge on Wednesday and the balance, $75.00 will go into the Loose Change fund.
Building those rewards points responsibly is the name of the game. Jamie
Sooooo, I took some money out from my savings account and paid off the new Capital One Quicksilver. I went over budget by $5.15 so my total outlay to earn the $100.00 cash reward was $505.15. The good news, as you know, is that the $500.00 spent was on items I needed, i.e., four new tires, gas, some grocery's, etc. So I by no means feel as if I just spent to spend!
I then took the Quicksilver and laid it ever so gently in the bottom of my safe, exchanging it for the trusty old Chase Freedom! This old girl carries a 9% interest rate, has never carried and balance and is steaming down the path of gift card reward points for Christmas.
The buddy who purchased $110.00 worth of DVD's from me added $80.00 more today and as we speak, has taken a lunch trip to the ATM to get the cashola! Here is my plan for the funds:
1. $40.00 auto fuel
2. $50.00 Easter Dinner ($30.00 ham, green beans, and drinks are my obligations)
3. $20.00 pocket money for the thruway and parking
4. $80.00 Loose Change Fund
Wooooohoooooo.......ROCK AND ROLL!!!!!!!!!!!!!!!!!!
Not much but every little bit counts!
I love this "game". Went for a nice walk in downtown Rochester today but didn't find a single penny on the ground. In fact, I gave a less fortunate man $1.00 for a soda. Felt good sharing but not finding any change was a bummerooski. Jamie
So, as I blogged yesterday, in my bid to reduce some of the DVD's I have collected over the past fifteen years or so, I was able to sell off $110.00 worth this morning.
Well, I am happy to announce the same buyer has also selected $35.00 more!
$145.00 in DVD sales in less than one hour! Not too bad. I thought my local flea market would be the place to sell some off, but am finding the intimacy of a couple buddies getting together to talk trash works just as well....and no overhead!
Sunday evening I am going to actually go through and write down the title of all of the reamining movies I am willing to sell. Then I can give them to him and another buddy who has voiced his interest and let them submit their "order".
As I blogged yesterday....I plan on using the money to put together this years easter baskets. I think I can do my three girls for about $25.00 per basket and another $25.00 for DG's little girl. That's $100.00 total. Sounds like a lot of money, however, it's well worth it to me. Any additional funds will go into the Loose Change account with it's path leading to its demise in the mortgage principal pre-payment catacombs!
Next up.......the construction of the Easter Basket!
Okay...so what's with the zero balance you ask? Well, remember, I decided to go to the bank, open a Loose Change Checking Account, collect my free checks, collect my FDIC insurance, collect my (almost non-existant) interest and of course, collect my FREE GIFT!
I was unable to make it today because of my work schedule. However, I will be stopping by at 9:00 a.m. tomorrow morning. The booty....$57.36! Not bad for about three weeks Loose Change (and $1.00 bills) collection. Let's see, if I average that out, I could be looking at about $995.00 over 12 months!
Soooo, thus the reason for my zero starting balance. I baggied up all the change, rubber banded the bills and put them in the consol of my car for the trip tomorrow!
Sometimes in life, starting all over again is a major challenge. In this case, it's simply another milestone along the path of financial freedom!
So, I have decided to open up yet another account...this one will be my Loose Change Account!
I have been filling my jar and of course, you can see my progress right here!
That said, I have decided to move my Loose Change to an official bank account which will absolutely be used for my mortgage principal pre-payment as often times stiuplated...but now, for my reasoning:
1. My bank offeres free checking and free checks;
2. I get a free gift for opening an account. Last week I opened a Duplex Escrow account and selected a free trunk organizer. This will be my very first Christmas present "purchase" for 2014. It will go to my oldest daughter as she needs the organization tool.
I think my next free gift selection will be a laundry organizer. My girlfriend will get this as she is very organized and clutter free but tends to allow her laundry room to blow up.
So, I get free checking, FDIC insurance, free checks, tiny but available interest and a free Christmas gift!
Not too shabby! Jamie
Okay....so....I counted and have well over 1000 DVD's!
This morning, I sold $110 worth to a co-worker. This money instantly takes care of the three Easter baskets I have to build next week! And with a bit left over, I am going to add it to my Loose Change Account!
Okay...so as you know, I got the new Capital One Quicksilver credit card. This is the one whereby if I charge $500.00 in the first three months, I get a $100.00 cash reward!
So today, after much shopping around, negotiating, pitting one dealership against another and refusing to pay anywhere close to full price, I bought four brand new tires for my car, mounted, balanced, old tires recycled and tax for $320.00! I am so proud of myself! I have struck some pretty good deals in my life kibbitzing, wheeling, dealing and sometimes, pestering to the point of exhaustion, but to get four brand new tires for the price of 2 is something to write home about!
I whipped out the new Quicksilver, swiped the card with glee and headed off to the gas station to fill up my tank for $40.00 which should get me through Sunday as my travel for the next four days is very limited! Because I didn't use cash/debit, I paid full price for the fuel, but hey, the tank is full!
After that, I thought the girls would like Taco's in a Bag for dinner so I headed to market. $30.00 later, I was all set and ready to go!
I have about $110.00 to spend and bam.....$100.00 cash reward earned (after two billing cycles..lolol). This weekend I am going out to dinner with friends and may do some Goodwill Hunting as the weather is gonna be awesome!
I'll pay the card off in full by the end of April and ultimately, make $500.00 worth of purchases for $400.00.
Once my rewards hit, I will cash out and plop it in the old mortgage principal pre-payment jar! Hooooray...Jamie
$50.00 prepayment around the corner. That, along with my budgeted $50.00 prepayment per month is a nice little kick to the old principal pants!
As an FYI, I withdrew $45.00 from an old pass through checking account I found still open. From it I put $20.00 toward my Loose Change fund, $20.00 in my pocket for tolls/gas and took the remaining $4.53 I had in my pocket to round out the deposit. Also, of the $4.53, $.02 were found on the ground leaving the grocery store where I bought mild turkey sausage, a cucumber and edemame for dinner tonight. See, sometimes it pays to walk with your head down! Jamie
Well, not actually.....in fact, here is the story/update. So, as many of you know, one of my financial goals was to increase my available lines of credit. My pre-goal picture looked like this:
1. Personal Banking Line of Credit - $40k
2. Personal Credit Card Line of Credit - $15k
3. Total Available Line of Credit - $55k
My goal tasks were as follows:
1. Obtain two additional credit cards and increase my overall available lines of credit
2. Determine no end date to the banking lines of credit
Outcome (including the LIE)
1. Personal Banking Line of Credit - $40k revolving with no expiration/loan mandates
2. Obtained a Capital One Credit Card - $15k
3. Obtained a Personal Bank Credit Card (was told it was for $10k)....upon receipt, I found out it was for $15k!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
4. Existing Credit Card of $15k
Now, was it really a lie?!?!?! Nawwwwwwwww....an educated guess I suppose. But that said, I now have access to $85k in credit....again....just in case. Jamie
Wootwoot....over $20.00 baby!
Close to $20.00........this is really fun!
So, as you all know, my loose change is going toward my mortgage principal. My question is: what is the minimum you apply to your principal? Should I wait until I have $20.00, $25.00, $50.00???
I know every penny counts, truly I do, however, do you have a minimum amount?
I think I may some dollar bills to add tomorrow. I have a five and my tolls will only be $1.10. We shall see!
Soooo....after reading RTW's Home Warranty blog and after much deliberation, consideration and thought, I decided to contact a Home Warranty company regarding a free quote. Below is the covered items for my policy quote......
Air Conditioning System
Oven / Range / Stove
Garage Door Opener
Ceiling and Exhaust Fans
Limited Roof Leak
Stand Alone Freezer
Septic Tank Pumping
Total Price for 13 months: $600.00
Total Deductable Per Call: $45.00
UNBELIEVABLE!!!!!!!!!!!!!!!!!!! Thanks again RTW
I have seen it used so often since I returned to SA and I am finding it hard to identify what it truly means. I am probably pretty dumb to not know this but hey, there is always the ignorant one in the family right?!?!
Nothing to add today! It's amazing how extremely bummed out I am over this. I even found myself looking around for a couple pennies at least. Oh well, maybe tomorrow!
Awesome advice and feeback....thank you very much! So, I called my lender and this is what I learned. First, you cannot attach your monthly mortgage payment to a credit card. Boooooooo.....although I really understand and respect the reasoning. But I also learned that there is no penalty, rule or issue with sending in multiple pre-payments towards principal at any time. They provided me with a specific address to send said payments and I simply created my own "coupon" outlining the following:
1. Blank Line for Date
2. Subject Property Address
3. Property Owner: Hey, that's me!!!!
4. Loan Number
5. Blank Line for Amount
6. Statement saying "For Principal Only"
7. The "special" address to mail it to (so I don't have to keep looking it up"
I then was able to fit five of these coupons on one sheet of paper and printed off 50. So I now have 200 coupons ready to use. Here we go. I may send them a check for $.12 today versus putting it in my Mortgage Payoff Challenge bucket! Hahahahahahahahahaha
Good Morning SA Family....so, I woke up out of a sound sleep at around 11:30 last night and started thinking....."why not make additional principal payments to my mortgage throughout the month, when funds are available, versus waiting until the mortgage payment is due and including the pre-payment with it?"
What say you? Should I simply photocopy a bunch of my mortgage payment coupons, black out the due date, use for the banks tracking purposes and start funneling in various amounts of money toward the princpal? I have never, in all my years and experience with principal pre-payment done this. I think it wise to first contact my lending institution to see if there are any "laws" against this or "processing fees" attached...but other than that, why not get the extra monies to them asap versus sitting on them for a month? Hmmmmmmmm......
Good evening SA Family.
As I blogged last night, it was a very busy financial day. Opening another account, applying for my second and third credit card and verifying the standing of my lines of credit and setting up auto bill to my credit card to start earning cash back rewards/gift cards (I am hoping to use it like a nice Christmas Club account)
Today, I am happy to report that I was approved for my final credit card! I received the email this afternoon! I am now the proud holder of $75k in available lines of credit.
God forbid, but If I ever need access to a large sum of money, albeit temporarily, I have the peace of mind knowing I am all set. Thanks Retired to Win for the support and encouragement! Jamie
So. It seems no matter how hard I try...I cant get a straight answer pertaining to an on line survey site whereby I could earn some extra income. So here is my challenge. For every recommended site I visit that turns into passive income...I will mail the blogger an autographed 8x10 black and white of me. No strings attached. I'll pay shipping and handling.
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