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Home > Shh! Murphy can hear you... (plus small debt payment)

Shh! Murphy can hear you... (plus small debt payment)

July 17th, 2009 at 03:18 pm

So I never should have celebrated yesterday about how our emergency/baby fund has grown. Call me superstitious, but later that day, I checked NT's student account to see whether the remaining financial aid had transferred over and paid his summer tuition. Not only had it not, they had socked us with a $30 late fee!

After some stressed-out calls to the University, NT and AS determined that his summer classes don't qualify for financial aid (even though he was awarded $3750 more than he needed for spring classes) because he's "not enrolled at least half time." Um, yeah he is; he's actually taking this summer class to get done even faster! But apparently, they mean "at this moment in time are you taking at least half the credits of a regular semester?" Soo, the upshot was that he's most likely not getting any financial aid for this class, which, with the late fee, costs just under $1800. And we had to pay it off fast or risk getting hit with another late fee.

So where to come up with $1800? The obvious answer is our EF, which wouldn't have hurt much if we weren't expecting a baby. NOW it feels like we're taking away a valuable safety net from under our baby's feet if we take it out of the EF.

NT suggested we have an even more laid-back vacation in August-September. We've already spent about $1300 on the two cottages and the rental car, and we had $1600 for food, drink, spa, boating, and all other fun activities. At NT's suggestion we shaved $900 off that. We'll now have $700, which means not enough for massages or boat rental or lake cruises, but we should still be able to eat out once or twice, maybe take the ferry to Washington Island, go bowling, play mini-golf, see a movie, etc. And we can look around for free activities, and take tons of books and games with us. It'll still be a good time, and hopefully even more relaxing since we won't be trying to cram a bunch of activities in.

Of course, that still leaves $900 (well, $894.77, to be exact). For the time being, to get the tuition paid, we took that amount from our EF savings. But we really don't want to do that, so today we'll be looking at places we can cut our budget down even further to make up the $900. Compared to a lot of SA bloggers, we actually have a lot of fat in our budget. So it'll hurt, but hopefully we can come up with the other $900 out of our upcoming budget over the next few months. We can't simply reduce EF contributions as we have for other budget cuts such as the furloughs; that would be defeating the purpose of not affecting our baby fund. So I suspect it'll mostly come out of groceries (so long, fake meats and pricier fruits and veg) and spending money (buh-bye, hopes of saving up for a bike).

The one bright spot in all this is that it isn't an unexpected expense. We just didn't expect to be paying it until 2012. It's for NT's education, and it will save us a bit of (admittedly tax-deductible) interest over the long haul. But this will definitely affect our quality of life more than any of the other recession-related cuts we've had to make, because we've already cut so much from our budget and because we can't simply reduce future savings as part of the cut.

All of this cumulative pressure has made AS (and all of us) feel that she doesn't have as much time to grow her sewing business, so she's stepping up her job-search efforts a bit. Yesterday she applied for a job similar to the one she got laid off from; without crazy co-workers and budget stress it would have been a good job, so hopefully she gets an interview. She'd be a really good fit, and it's actually for a college of art and design, so it ties in a bit with her sewing and dressmaking!

Good grief, this is turning into a long entry! OK, one more thing: Our snowflake hit the personal loan today, with $34 going to principal. $1875 down, $125 to go on our July debt goal.

9 Responses to “Shh! Murphy can hear you... (plus small debt payment)”

  1. creditcardfree Says:
    1247844344

    You guys are doing great making the tough decisions when they come at you. Keep up the good work!

  2. merch Says:
    1247844705

    Great job at refocusing!!!

  3. Joan.of.the.Arch Says:
    1247846579

    Yes, very good thought going into all this and all your family participating in generating ideas and sharing the burden. Very good example of how to deal.

  4. ceejay74 Says:
    1247848805

    Thanks you guys! Of course you didn't have to see poor AS's crying fit and subsequent nap (at feeling it was her fault for not knowing this would happen[?]) nor my languishing despairingly on the couch for about an hour before I started to pull myself together and figure things out. Smile Thank goodness for NT keeping a pretty cool head during it all.

    I appreciate the very positive perspective you've all taken on the situation. I'm trying to stay positive but I'm honestly sort of shell-shocked at all the hits my perfectly lovely budget and lifestyle have taken in the past 6-8 months. My Big-Picture Goal seems laughable now, when in early to mid-2008 it seemed like I couldn't fail.

    At the same time, though, I do feel the same way as you guys and do appreciate that we are doing very well in our organization and communication, without which we'd be financially floundering, not just belt-tightening.

    Without this blog community I'd be struggling more with feeling like a failure for having to adjust our lifestyle. We are fairly unique among our friends in how we use a budget to regulate spending, so it would be easy to feel like we're not doing as well as others (and for me to thus feel like I was letting my family down). When I talk about it here, though, I realize we're doing what's smart and good for our future (and present).

    It definitely helps that NT and AS are staunch supporters of my way of doing things. We trust one another to find the best solutions.

  5. my english castle Says:
    1247855829

    Tell AS good luck with her job. The hiring person at MCAD hired me for a job five years ago, and she's super.

    We're headed to Door County in late August too. I'll scout some bargains for you!

  6. miclason Says:
    1247857378

    That was a great decision you guys took, and, well, we are all allowed crying fits and moments of despair, as long as that doesn't really keep us from acting in the end. You'll be fine, you'll see!

  7. Apprentice Bliss Hunter Says:
    1247869854

    As a single guy, I'm hugely impressed by the communication, oonnection and the strength of relationship the three of you have...

    something for me to aim for !!

  8. frugaltexan75 Says:
    1247880553

    I agree with the others - you three truly do an amazing job of keeping it together via good communication.

    You may find that leaving out the fake meats lead you to feel even healthier. I know for myself, when I was attempting to not eat very much of the fake meats, I did the best ever at losing weight - and keeping my grocery bill down. The fake meats are not getting any less expensive ... I really should go back to not hardly eating them myself.

  9. scfr Says:
    1247890419

    Okay ... I'm a dork. Just now realizing you are actually having a baby. I was aware of a "baby fund" but thought things were just in the planning stages.

    Belated congratulations!

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