From April 1 to May 3, my net worth increased an average of $47.49 per day, or $1,424.71 overall, to -$23,088.17. This is a 6.17% increase, and results in a projected zero net worth on 1/25/2014.

The cons for April: There were a LOT of unbudgeted (but not exactly unexpected) large expenses. Four budgeting categories went negative, but I think I’ve done a pretty good job of coming up with numbers for them going forward that should keep them positive. More on those later.

The pros for April: $1200 bonus, which went straight to the emergency fund. When I mentioned in the year-end post that my emergency fund goal should be easy come May, well, this is what I was talking about. A huge pro is that, despite the rampant yet completely necessary overspending this month, I have plenty of buffer to cover it. Never was there a day that I woke up, saw my daily balance alert email, and freaked out. That is still very nice. I hope to one day be in a position to lose a job and not freak out. Also, my desire to reel in my discretionary spending has panned out, a bit. Not perfect, but it’ll do.

I have no idea what it was before I fiddled with it, as I don’t take screenshots of that particular bit, but my 5 year payoff goal expected date is currently sitting at May 2, 2014. That, my friends, is just spiffy.

Related posts:

1. Net Worth Update: April 2012
2. Net Worth Update: May 2010
3. Net Worth Update: April 2010

My scooter has an odd relationship with gravity. I’ve come to accept it now, that it’s just a magnet for bumpers and drunks. Even though I’m not terribly concerned about aesthetics (I drove a truck completely covered in bumper stickers, fer fucks sake), what did bother me was the exposure to rust. Not that I know anything about these things, but it sure isn’t a good thing.

The parts themselves aren’t terribly expensive to replace. The last time I priced it out (after the third time it went down), it was right around the insurance deductible at $285, and I could easily replace them myself. My concern in doing this, though, is that it’ll just happen again. But then, then, I learned of the magic of Plasti Dip. Rubber in a can, you say? Peel off and reapply, whenever? For six bucks a can, I was sold. I had planned on doing it on a Friday during the time that both my inspection and registration were expired, but then I didn’t because I was lazy. And then that night some drunk guy knocked it over, so it was a good thing anyway, and I set to work on ripping it apart the next day.

Despite winging it, I’m pretty handy with a screwdriver and socket set. Passenger handles, footrests, mirrors, and handlebar end weights all came off fairly easily. Plasti Dip is pretty amazing shit, in that even when you’re trying to fuck it up, it still manages to dry smooth. A few coats on everything over the course of the week and I was satisfied (or at least sick of bothering).

I think the rear handles ended up looking pretty damn slick blacked out, especially since they come out from under the cargo deck. They really look like they should’ve been black to begin with.

The same definitely goes for the footrests. Just plain badass blending in with the body like that. Honestly, I was tempted to try leaving them off altogether, and just use the bolts as footrests, but they’re pretty mission critical in terms of taking the hit on the pavement. Without them, the plastic body panels would be taking it, and breaking. Can’t fix that shit with Plasti Dip (as evidenced by my now lack of muffler guard).

Bottom line? I spent $12 on paint and got results that I’d gladly pay someone at least $100 for. I’d call that a job well fucking done.

After that, it was just a matter of technicalities before I could get back on the road. Mum had the new registration sticker, but I couldn’t get to her (easily) on my bicycle to get it, which also prevented me from finishing the inspection. I went and got my own insurance policy on it, finally. The full year of coverage ran me a grand total of $160 now that I’m not a “young driver” (which is why I wasn’t on the policy in the first place, would’ve been ~$600). That low, low price includes a $100 comprehensive deductible and $250 collision insurance deductible. We finally got the title transfer done last Wednesday, where I also grabbed the new registration. With the new front tire, new front brakes, and inspection complete as of last Saturday, I can finally ride again without fear of getting impounded. I have enough to worry about as it is riding around town, I don’t need to be overly paranoid about cops on top of it. Just regular paranoid.

Oh, and the title came in the mail today. With my name on it.

No related posts.

It’s a common fact of life that when you are a university student, money – and the lack of it – is likely to be something that challenges you constantly. With this in mind, here are some ideas that could help you live the frugal student lifestyle in style.

Become an investment expert
Okay, so maybe you don’t need to be an expert, but considering an investment can actually be a great way to save and make the most of your money. For example, one thing to consider is an investment ISA, which for the 2012 tax year allows you to save up to £11280 tax free.

There is a bit of a risk attached to this as there is with any investment that is linked to the stock market, but if you’re smart and ready to play the long game, this can be a really good way to start investing for the future. Plus, if you’re clever about the ISA you choose and go for the best stocks and shares ISA you can find, you could even earn yourself some good tax-free dividends on the money you put away.

Share your space… and skills
Most students end up sharing accommodation while they’re at uni, and this is probably one of the best ways to be frugal as it saves you having to be solely responsible for housing costs. Even something as simple as sharing with one extra person could significantly cut your share of the bills, so it could be worth the slightly longer wait for the shower in the mornings!

You might also find that if you have some special skills, such as a second language or playing an instrument, you can make a bit of money teaching other people, so look out for opportunities.

Take the supermarket challenge
We all know how hard it is to go to the supermarket without picking up food we don’t really need, but it’s worth it when you consider the savings you could make. Writing a list before you go and planning meals in advance can help you cut down on your food spend, as can cooking in bulk – so it might be an idea to see if you can share the cooking with your housemates.

Use the university resources
One of the best things about being a student is that universities are generally really well-equipped with resources that can help you with your frugal lifestyle. For example, the library should have all the books and internet access you’ll ever need, which can save you a pretty penny.

Plus, you’re likely to find that your university has facilities such as book swaps or an intranet that allows you to sell unwanted course books. You might not make much off your sales, but it all helps.

Take to your bike
Most students can’t afford to use a car, so a bike is a great alternative. It also offers a great chance for a workout so you might well be able to ditch that gym membership and save yourself even more money – just don’t forget to get a good cycle helmet! That’s one thing it’s definitely worth spending a bit of money on.

Related posts:

1. Frugal Bike Bottle Holder
2. Public Service Student Loan Forgiveness – I Wish!
3. Are Student Loans Eating You Alive?

Lately, I’ve been kind of worried about the Met-Ed debt that I still have hanging around. I’m not worried about them coming after me for it (they’ll have to find me, first!), but rather what effect it could have on me later on. It’s not because I’m planning on buying a new car or anything, but because of the thought of moving out and getting my own apartment again. When one applies a little logic, one realizes that the electric company probably doesn’t want a deadbeat ex-customer as a new customer. At least, not without paying up.

While there are a few options when it comes to alternative electricity suppliers around here, they’re all a bit more expensive, and it’s really just running around the problem. Even if I successfully outlast the statute of limitations as well as credit reporting timelines (7 years on both?), Met-Ed will still know about it. Oh, they’ll know, and I’m sure they’re not too forgetful, either. And frankly, they won’t give a damn if I explain it to them why I’m refusing to pay it on principle.

And then, along comes another way for such a relatively small debt to bite you in the ass. On April 1, a mortgage rule change went in to effect that puts a bit more emphasis on collections accounts. Prospective home-buyers seeking low down-payment financing from the Federal Housing Administration are pretty well shit out of luck if they have more than $1,000 in collections on their credit reports. The only ways around the new rule are if the debts are due to identity theft or other unauthorized use of the applicant’s credit, such as credit card theft. Not even a mortgage calculator from emortgagecalculator.co.uk will save you now.

This leaves the more obvious problem of incorrect information on credit reports. The credit reporting companies aren’t really in the business of fixing bad information, unless you’re an important person (politician, celebrity). You are not their customer, and with so many inaccuracies, it’d cost them a heck of a lot of money to fully review even all of the disputed items. I disputed a collections account a few years ago, and you know what happened? It now says that I dispute it. That’s it. But it’s still there!

Aside from inaccuracies, though, I know that if I were buying a house, I’d be very well aware of any defects on my credit report ahead of time. And then, if there were a grand or two in collections and I couldn’t take care of that and get it all squared away before applying for a mortgage, well, I probably shouldn’t be buying a house.

So maybe I should pay that electric bill.

Maybe.

Related posts:

1. Sent to Collections

From March 1 to April 1, my net worth increased an average of $35.43 per day, or $1,098.29 overall, to -$24,512.88. This is a 4.48% increase, and results in a projected zero net worth on 2/9/2014.

I basically started this month in the hole, by buying a Nintendo 3DS and several games and accessories for it. I thought that because I had really wanted to get one several times in the past, and still really wanted to get one, that I had successfully held off on buying it long enough to be sure that it was a good buy. The problem here is that I both failed to set aside money for it in the meantime, and falsely interpreted wanting it several times for wanting it for a while. I played it for about 10 hours in the first week of the month, and haven’t touched it since.

So, thanks to that, in addition to playing $20 + $50 on Mega Millions, and I managed to once again greatly exceed my already inflated spending budget. Even though I’ve been adjusting it upwards based on reality, I’ve just been unconsciously increasing my spending accordingly. It’s getting to the point where I need to reel it back in, in a bad way.

Thanks to a five minute mistake in my budget, I’ve also thrown another hundred bucks in to the emergency fund. It was the easiest way to fix things.

Related posts:

1. Net Worth Update: June 2010
2. Net Worth Update: April 2011 and Propane Conclusion
3. Net Worth Update: October 2010

I suppose I should say for some people that this image is not safe for work. If you work in an elementary school. Where I work, it would be totally fine.

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In spite of the recently announced White House plan to limit student loan payments to 10% of a borrower’s monthly discretionary income, and forgiveness of any remaining debt after 20 years, millions of borrowers will never benefit from that action because they’re already in default.

While some of those people are the type who take pride in cheating “Big Brother,” most are struggling with circumstances they never expected. Until a few years ago, landing a lucrative job shortly after graduation seemed like a reasonable plan for repaying student loans.

But in today’s economy, landing a lucrative job can be a serious challenge. So borrowers who expected no problem in repaying their student loans are now faced with serious consequences because of the ever-changing debt collection laws.

Why Default Is Dangerous

1. The debt lasts forever.

There is no statue of limitations on defaulted student loans, so until yours is repaid you become ineligible for a VA, FHA or HUD loan. Plus, the government can garnish as much as 15% of your disposable income, as well as Social Security and disability benefits. They can even keep all the income tax refunds you might have counted on receiving from the IRS.

2. Private collectors may jump in.

Any new government relief programs won’t apply to private loans, the kind a student needs after all government funding sources have been tapped out. Banks are just as likely as the government to file a lawsuit against debtors, and may also assign your account to a collection agency — which will add extra fees to the balance already owed.

3. Getting credit becomes tougher.

When credit bureaus are notified of a default, they make it considerably harder to qualify for a credit card, car or home loan. According to a Harvard graduate who defaulted on his student loans, “Living with no credit actually means you have to become much better in terms of making a budget. You cannot screw up because you don’t really have a margin for error. And forget doing things like renting cars.”

4. Your loan gets more expensive.

Once you’ve defaulted on a loan, the lender can require that the entire balance be paid immediately. By that point, you can no longer negotiate for deferment or forbearance. So, obviously, the time to negotiate is BEFORE you have to miss a payment.

Your Time Frame

Defaulting on a student loan can happen fairly quickly after graduating, leaving school or switching your enrollment to less than half-time.

You can count on a six-month “grace” period before repayment must begin, but the first payment is due within 60 days from the end of your grace period. After that, if you go 270 days without making a monthly payment, or 330 days without making a less frequent payment, your loan is automatically in default.

Before that happens, talk to your lender about different options for repayment. Standard, graduated, extended, income-contingent and income-sensitive repayment plans all have different advantages, and it’s important to understand your rights regarding each choice.

Protecting Your Rights

If you find yourself harassed by debt collectors or faced with inaccurate information on your credit report, understanding your rights becomes even more important.

You have legal recourse if a collector has engaged in any kind of contact that’s not permitted by the Fair Debt Collection Practices Act. Not only can you make collection agencies stop contacting you, but you can also recover statutory damages up to $1,000 and any actual damages, as well as court costs.

Whenever you’re faced with problems relating to unreasonable lending practices, don’t hesitate to ask for assistance in understanding your rights.

Larry P. Smith & Associates, a Chicago Law Firm, focus on consumer rights protection. If you are having difficulties with bankruptcy, debt collection or consumer fraud, request a free case review with Larry P. Smith & Associates.

Related posts:

1. Lowering Student Loan Payments to Tackle Other Debt
2. Public Service Student Loan Forgiveness – I Wish!
3. Carnival of Debt Reduction #205

Before I begin, I feel that it is important to note what this post is NOT. This post is NOT a cry for attention, it is NOT a request for a pity party, and I thought I had a third point to make here but evidently I do not. What this is, is both explanation for those who were wondering where I’ve gone off to, and personal record. This is a personal blog, after all.

Now then. This post has been brewing in my head for a good month now, and I still don’t know how to write it, or what to say. I shall throw my perfectionism to the wind and just dive right in to it, and worry about regretting it later. We are now 80 days in to the year, and for the last 65 of them I’ve been all but gone from the blogosphere. This was not planned, nor was this desired.

As far as a cause for my disappearance, that is difficult to say. I wrote the year end summary, which took eight hours. This then gave me an idea for a future post, so that kind of canceled it out. I wrote the coffee post, and somehow didn’t finish it. What is published is only half a post. My realization of this fact led to a miniature breakdown. Not boo hoo cry cry breakdown, but bottle it all up inside and forget about doing anything productive ever again breakdown. I had had enough with my continual personal failures.

In Which I Explain My Brain

It doesn’t take a damn doctor to tell you that I suffer from some pretty hefty depression. Five years ago I tried to fix it with pills. Not because I wanted to, but to get dear mother off my back because she wouldn’t leave me the fuck alone. Having someone ask you every fucking day if you’ve called the fucking doctor yet because you’re a fucking mental case is not a good feeling. It also makes it fucking impossible to try to fix it yourself when someone is fucking reminding your every fucking day that you’re a fucking mental case.

So I went to the doctor, and even told him that I wasn’t there because I wanted to be. He gave me some pills. I tried them. I pissed and jizzed fire because of them. He says, “oh, at your age we don’t want you having any sexual side effects.” Fuck you, I only have sex once a day, but I piss 10 times a day. Didn’t really matter, because a week later my girlfriend of 3 years left me (rightfully so [even if she did do it like a goddamned child, over IM]). It was the second time, so I really didn’t give a shit. This was also only a week or two after my dad kidnapped my mom from a local bar at gunpoint.

Fast forward to today. I’m now 25, haven’t been laid in 5 years, my parents are divorced and both remarried, I went from acing state exams and a 1300 half-assed SAT attempt (out of 1600) to working in a fucking warehouse doing manual labor for a 20k takehome pay living. Meanwhile I live with my grandfather and as such still have to take shit from people bitching me out for not living the way they think I should be living, put up with my lying thieving sack of shit cousin that also lives here, and oh yeah dear mother is dying of ALS.

Yeah yeah, first world problems, QQ, fuck you.

So after all of this, I went to the Financial Bloggers Conference. Had the time of my life, met some great people, made some money. For three weeks afterward I was riding a high like I’d never felt before (in a long time, anyway). For three weeks all of my problems and my depression and everything could just go fuck themselves, because I was on top of the world. For the first time in my life, I actually thought I was going to be successful. And then dear mother sent me an email telling me how much of an asshole I am, how I’m neglecting my obligations to be at a bunch of birthday parties for a bunch of kids who aren’t my kids and who won’t remember them anyway, yet I can to go a conference all the way out in Chicago and I can spend hours learning Japanese, and I can spend all this time working on my blog. All of these things that I do for myself to try to better myself and be successful in life, and I get bitched out for it. Apparently just because I finally have the choice in attending family functions that I have zero interest in, that choice must still always be yes.

I think I have adequately explained my frame of mind now.

In Which You Know All That Now

So I try to cast all that aside. I churn out a few crappy posts that were probably based on great ideas. I smash an epic year-end post out of the park, and decide that it’s high time I wrote some decent, well researched articles again instead of this shit I’ve been churning out. And then I fuck it up right off the bat and only write half an article. It doesn’t matter that nobody else seems to know. I know, and that’s what matters. So after keeping up with this blog for four and a half years, I had enough. I was done. Fuck blogging. I stopped tweeting. Didn’t even check on the blog for a month. My interest truly dropped to zero. Maybe it makes sense that this would happen, maybe it doesn’t.

In Which I Wonder What To Do Now

Like I said earlier, I’ve been thinking about this post for a month now, because I don’t know how to just “come back.” I’ve only regained a tiny bit of interest in doing any of this again, and I hate the idea of forcing myself to do it. If anything, I have sponsored posts that have already been paid for, waiting to be published, but I can’t bring myself to drive this blog in to the ground like that, with nothing but those showing up 3 months later. I’d sooner refund their money. Either way, that’s as shitty a reason to come back as any. Force it I shall.

I’ve made absolutely no progress towards the non-debt goals I set for myself at the beginning of the year. I’ve found new hobbies. Can’t run because I’m constantly tired. Can’t study Japanese because that would involve putting forth effort. Not gonna make 10k on the side this year because I’ve just wasted 3 months.

Thought about going to the doctor recently, and then my mom asked me if I’ve gone to the doctor. Same with the dentist. Did I mention my teeth are going to shit? They are.

Have no luck with women. Don’t know how to meet them, don’t know how to talk to them. FinCon was the first opportunity I had in a long time to meet any single ladies. Naturally, I tried too hard, got all awkward, and failed. I would say that I still think about a certain someone from the conference from time to time, but that would be creepy. Then I consider the 1300 words preceding this line and realize that it really doesn’t matter any more.

Don’t know how to get out of this house. At least, not without looking like an asshole doing so. For some reason I feel like I’m obligated to stay here. I considered just packing up and starting over somewhere else in the country, but then my plan hit “find a plumbing distributor to work for” and I realized I’d just be living the same life there as I already am here.

And then I failed to come to a meaningful conclusion, but hit the publish button anyway, because I still have no idea what the hell I’m doing.

Related posts:

1. If I’m Not Getting a Refund… When’s My Rebate Coming?
2. How an IVA Can Get You Back on Track

Of all things, I’ve been thinking of getting a coffee maker lately. As with everything, I’ve been thinking way too hard about it. Where I’m going to put it, if I should spend the money on it, if it’ll be worth it. I’ve been patronizing my former nemesis, Turkey Hill, quite often recently. Their hazelnut coffee with french vanilla creamer just so happens to be delicious (despite the fact that I normally drink my coffee black). What isn’t delicious is adding an extra 5-10 minutes in to my 3 minute commute to scratch and claw my way two blocks north first, make it to the cashier, and then two blocks back south (to avoid crazy crossing guards). I also kinda figured that a buck-five a day to put myself through such inconvenience might not be worth it.

So, what’s a guy to do? The same thing I did with just about everything else when I first started my climb out of debt – make a spreadsheet, silly! I figured prices for a few different coffees and teas, per cup (cup cup, not coffee cup), and came up with a few surprising (and not so surprising) results. All numbers are based on Folgers’ claim that 33.9oz of coffee makes 270 (weak ass) cups, and a nice, simple $20 coffee maker.

1. Keurig will never be cheaper, ever - Regular Keurig 18 count cups are 66c each, and even 87c for the Starbucks brand ones. Compared to 53c gas station coffee, it doesn’t even matter that the cheapest maker you’ll find at WalMart for these things is still $80.
2. Starbucks Italian coffee is still cheaper than green tea - Okay, that was a bit of a surprise. Granted, we’re talking 9.29c versus 9.9c per cup, but still – cheaper is cheaper.
3. Damn, even cheap tea is expensive – And I don’t drink the cheap tea (not that I have anything against it). Lipton Bavarian Wild Berry Black Tea pyramids are the shit. Except for when the string breaks while you unravel it, in which case you’d best tie that back together and use it. I know I do.

How do you guys get your fix?

No related posts.

This took me 6 8 hours to put together.
It’s okay, I have tea!

Last year all this information was spread out over something like 4 posts. Since there are trees to be saved, I’m smashing it all together in one giant post! Herein we shall find the following:

1. The money numbers
2. The blog numbers
3. The goal achievedness (yes it is)
4. The goal settings
5. The usual monthly goodness

Hajimeyou!

The Money Numbers

• Debt service – $15,693.65 (vs $13,221.93 in 2010)
• Debt reduction - $14,732.27 (vs $12,311.65)
• Monthly debt service – $1,207.20 (vs $1,017.07)
• Spending money – $6,685.29 (vs $6,121.34), monthly average $557.1
• Total take home income – $25,950.95 (vs $21,295.79, a 21.86% increase!)
  

The Blog Numbers

• Subscribers – 215 (vs 160)
• Income – $3,230 (vs $1,350, up 139.3%)
• Expenses – $696 (vs $311.03, up 123.8%)
• Profit – $2,534 (vs $1,038.97, up 143.9%)

Those are purely non-search referrers. While I did get hit by Lifehacker a couple of times this year, they weren’t nearly as fruitful as in 2010. Ah well, I’m not complaining. Take those out and the traffic is probably up. The mad increase in profitability is all thanks to having someone else manage my advertising for me, but I’ve got a lot of work to do myself. It would’ve been a down year if it weren’t for that.

The Goal Achievedness

• Reduce debt 33% – The general idea here was that, with three and a half years left, I should shoot for a third to end up ahead of the game (when I was behind at the time). With my end of year payments, I bumped it up to 33.09%. Being barely over the line is no mistake, either, but it did come down to the last paycheck of the year.
• $3000 emergency fund - Bahahahahaha no. What I do have is a $666.52 emergency fund, as well as various other savings. Since I didn’t really expect to hit this goal, it doesn’t hurt too much. It had reached as high as $1,985 back in May, but apparently I decided it was better to spend that money at the time. Go team.
• Quit smoking – Smoke free since August 7th. There are so many smells I wish I didn’t smell.
• Run a 7 minute mile – I thought this was pretty conservative, since I did a 6:30 in high school without having a goal in mind. I broke 8 minutes in July and haven’t run since. As I definitely remember that cold-weather running sucks balls, I just couldn’t bring myself to attempt a last minute effort.
• Quit drinking (excessively) - Haven’t been keeping beer in the house for quite some time now. Got a 12 pack a month or so ago… that was uneventful. Money saved? Tons. All the more for hookers and blow.
• Junk out - While I did have one pretty successful weekend wherein I managed to fill a truck and a trailer, things have pretty much flatlined since then. I’ve been trying to keep an eye on incoming stuff, and trashing stuff as it annoys me (Regifting Robin is getting tossed pretty soon), there hasn’t been much renewed effort. Neither pass nor fail.
• Conversational Japanese - This was probably a bit unrealistic, but I did both slack quite a bit and had less than the full year to work on it. It’s not a failure, though, because I did make a heck of a lot of progress. I’ve got a pretty decent handle on the grammar, it’s just a lack of vocabulary that does me in now. Just last night, though, I watched Summer Wars for the first time in about 6 months. I’ve seen this movie at least 10 times, and it just blew me away at how much of it I suddenly understood. Still not enough to know what’s going on.

The Goal Settings

• Reduce debt 50% – With 2.33 years left to go before my debt free goal date of May 2014, it just kinda makes sense to go for a clean half. This is actually just a bit more than what I paid off in 2011, at a smidge under 15k. Sensing that a flatline goal might be a pussy move, I’m also looking at 60%, which is just under 18k.
• $3,000 emergency fund - I still think this is a good number for me, and should be easy as pie come May. After that it’ll just be a matter of not blowing it, or needing to use it. Not so pie.
• Run a 6:30 mile - When facing failure, fail harder. I should be able to do this, dammit.
• Junk out - Non-quantifiable goals suck. This is one of them. I’ll have to come up with something. A system, a schedule, something.
• $10,000 side hustle income – This is the big one. Going from $2,500 to 10k sounds unrealistic… to some. I see no reason why I shouldn’t be able to do it, though. Ideas, I’ve got them. Honestly, though, there’s no way I’m ever going to make it in this business if I can’t hit this goal. Again, this is the big one.
• Half hour daily Japanese – Since a language goal is terribly difficult to quantify, I figure it’s a hell of a lot easier to quantify the effort instead. This is going to be actual study time – watching a movie doesn’t count.

The Usual Monthly Goodness

From December 1 to January 1, my net worth increased an average of $64.86 per day, or $2,010.73 overall, to -$27,483.24. This is a 7.32% increase, and results in a projected zero net worth on 1/25/2014. Meanwhile, my magic number went down from $1,126.50 to $1,104.84.

Oh, and before I forget, one last look at the 2011 goal chart before I clear the slate!

Wait, what’s that? Right in the middle there… Capital One paid off… December 31st!? Yeeeaaaaahhhhh dog! Debt eliminated, $200 monthly payment eliminated, and with that, my minimum monthly debt payment is down to an amazing $215!!! Yes, this is going to be an excellent year.

Ijou? Iie, choudo hajimete!

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