Category Archives: Budgeting

Financial Changes- Life Happens

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I feel like I had finally decided on a course/plan of action for next year in regards to Finances and was actually going to make a post and state some goals.  Good thing is that I did not get quite that far… because life happens!  This time it is in the form of our HVAC unit.
Let’s start with the background:  I noticed in November that the house just did not seem warm so I ended up increasing the temperature for a couple of days without much thought.  The day after Veteran’s Day, I noticed that our energy consumption was the second highest I had ever seen. We called and got it checked out the next week.
Here is a picture of what we saw…
We had to run the fan over it for 24 hours to discover that a “reversing value” was bad. The anticipated cost was $1500 so we went ahead and had the part ordered. A part arrived this past week and on Wednesday they came to install it.  Unfortunately a freon leak was discovered.  After another hour of trying to find the leak and realizing that we were shipped the wrong part.  We were given the decision to make as we continue with the repair knowing it would add another $1000 to find and repair the leak or purchase a new system.  Several factors were presented including our system is currently 18 years old with a life expectancy of 15 years.  Another consideration was that there was no warranty or guarantee with the repair.  In fact we were told that it was very likely that the repair would not fix the problem and in the best possible case we may get another year out of the system as old as it is.
New systems are not cheap to the tune of $8700!  This was a very tough decision to make.  I am not  one to purchase a new anything in case. After thought and prayer. We decided to go with a new system.
After the decision was made, I did some additional research and discovered that we have spent less than $500 on our system since installation.  Matt also discovered that the new system is supposed to be much more energy efficient as well. The new system will come with a 10 year warranty that will be monitored and covered by the same company we have used since the beginning.
The system is actually supposed to be installed on Friday!
Next came determining how to pay for this expense.  I talked about refinancing the house in this post.  During this process we had decided to put some money back in our Money Market account for future expenses.   The bulk of the cost will come from there. The remaining amount is going to be from our budgeted expenses. My plan was to attempt to pay off several credit cards in 2026. This has now changed, we are going to cover this expense and attempt to pay off the interest free account before it expires.    This will be a stretch but one I am going to face head on and attempt to meet.
In reality this means that for the short run we are going to make only minimum payment on all the credit cards (OUCH).  I am going to focus on also reducing our monthly expenses as well, especially in regards to food and other non essential  spending.
   I am planning a couple of posts in the next two weeks with concrete numbers and ideas. Hang around for the journey!

Friday Financial Update

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So this is the much promised post about the big financial change that we have made.  I have hinted at this post on several occasions but did not want to share until everything was complete and final. The reason for this post is very personal, I want to be able to read this in the future, see my rationale and also determine if it worked or not.

We have refinanced the house and rolled the HELOC into it. First the facts, this is a 15 year mortgage with an interest rate of 6.25%. the anticipated maturity date is December 2040. Our age would be 68.

Next, why we choose to re-finance at this time. There are two main reasons that we looked at refinancing now. The first of which is that we or at least I have started to seriously look at and begin to plan for retirement. My top priority going into retirement is to be debt-free. I do not want to have any payments such as mortgage or car. The auto part is really something that I can’t control as much as the mortgage/HELCO.  I knew going in the HELOC was 30 years and my initial plan was to begin making double payments when we pay off the Tahoe in October 26.  The second reason for considering and seriously looking at a re-fi now is that the HELCO was an adjustable rate.  I don’t recall reading this so maybe I missed it. I realized this (my mistake) because the HELCO was a fixed rate for 12 months and then became adjustable. My realization occurred with the notice that it would increase to over 7%.

The problem…. our mortgage was refinanced during COVID at a rate of 2.75%. This has been the one down side and thing that made the decision to re-fi difficulty for me. But when you compare the fact that the HELCO was already high and had the possibility of going even higher then even math said we should re-fi.

We ended up including some cash out when we decided to re-finance in order to reduce our overall debit load and to make paying everything much easier and quicker.  As I mentioned above the interest rate is 6.25% which is less than any credit card at this point.  We will begin making payments on January 1 2026 and begin to make an extra  principal only payment November 2026 which should reduce our term to 8 years or 2034 and our age to 62.

Pantry Challenge/ Saving Money

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Yes I am writing this on a Sunday. I did most of the work for this on Saturday. But I wanted to share about the building that feels like it is sucking up most if not all of our time.

I work all summer long to get easy to prepare meals in the freezer to make the school year go easier. I also wanted to start using up alot of the food we have here so that I can reduce the food bill for the rest of the year.  I have  not been to Costco since the first of August before school started.  I am picking up items that we are completely out of but I am making a conscience effort not to buy items unless absolutely needed.  We are about 6 weeks in and at the point where our convivence foods are gone. Yesterday we finished up both the chicken nuggets and bagel bites. One of the items that I have the most of is ground beef. When we purchase a whole cow, we get alot of ground beef and I know we can eat it. I am thinking that at this point we have almost 50 # left in the freezer.   We used up the last of the Costco meatball about a week ago.

On Friday, I took a pound of ground beef and decided to make some meatballs to go with our spaghetti.  They turned awesome, so good in fact that I decided to go ahead and make a huge batch. I turned 5 pounds of ground beef into 96 meatballs that can be used for spaghetti, meatball subs and even Swedish meatballs.

While the last batch of these were baking yesterday, I ended up gathering up all the ingredients for Taco Soup. I decided to make a double batch so that I could can up some for quick and easy lunches.  We are eating the soup for dinner this evening and I will have 5 half pints and 12 pints of taco soup to use for lunches or even future meal!  I am excited to have these convivence items instead of purchasing.

5 Things Friday

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1. The school year is in full swing and I am busy. One of the main reasons I am busy is the major overhaul project of rebuilding/making useable the metal building at the end of our driveway. We took down the entire structure which was a metal tube frame and are working on rebuilding.  I am hopefully that by this time next week, the project will be complete and I have been taking pictures to share at the end.
2. Zach’s JV football team is currently 2-0. Yesterday, his game was cancelled because of storms. Unfortunately, we had driven an hour, and sat in the parking lot an hour before it was cancelled.
3. Zach was able to get his driver’s license this week.  Our driveway is getting crowded. But it is nice to not have to drive someone everywhere every day. I am excited and looking forward to this new chapter/season of life.
4. I am happy to report that all my meal preparation over the summer is working.   We are also working hard to use up items before purchasing. I was able to reduce our grocery budget for August by $300 and plan to reduce more in $400.
5. We have planned Kendall’s graduation cruise. This is an item she has talked about for several years.  We will be cruising in April.  I hope it will be all she wants!

5 Things Friday “How I Spent my Day”

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  1. We have been under a extreme heat warning all week. This means that the heat index is at least 101*  The only way that I am able to keep up with the garden is by waking up super early aka 6:30am and spending at least an hour in the garden. This morning I ended up around an hour and half. I was able to get a second planting of crops done. Pumpkins in the bed in front of the office, cucumbers to replace the ones that did not survive and cantaloupe in place of the bush green beans.  I also finished the chore of wedding all the beds, collecting a 5 gallon bucket for the chickens.  I dead headed our white rose bush, collected the small harvest and heavily watered the beds.
  2. 2 loads of towels were washed, dried, folded and put away.  With everyone enjoying the pool and working, it is not uncommon for most of use to take 2 showers a day.
  3. I have got the third load in the dishwasher, I am working on getting rid of any food that has gone bad. I also packed up everything in lunch containers, made desert and have started working on sour dough bread for the weekend. I have no doubt this third load will be ran tonight.
  4.  In my effort to use the food we have I ended up chopping up 4 items for a Big Mac Salad for dinner, lettuce, red onion, cucumbers and tomatoes.  I found a recipe for Big Mac sauce and then cooked a pound of ground beef in steak seasoning to use.
  5. I was able to pressure can 5 quarts of chicken broth that I made from the chicken thighs that were processed yesterday.

No wonder I am tired~

Saving on Saturday

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This week I have been focused on doing the small things that add up to make a huge savings overall.

Let’s start with the yard improvements/maintenance. Mulch is something that needs to be replaced and replenished at least very couple of years. That becomes expensive especially if you need to replace most of it at the same time. This year we ended up needing 22 bags.  I know that usually in the spring the big box stores run a special for bags between $2 and $3 at bag. This year it was $2.50 a bag which is a savings of $1.28 per bag or $28.16.  Because of the work that we have been doing and trying to add different growing areas I also ended up purchasing 18 bags. This was another savings of $23. That adds up to at least $50 in savings. That is besides the saving that I talked about yesterday when buying plants only on clearance or from Facebook marketplace.  I would say that in addition to the money we have saved by starting all the vegetables from seeds would put us around $1000 which is over a months’ worth of groceries for us! This is before we get any food to eat!  Another way we save money outside is by capturing and using rainwater for all the watering outside.

Food saving is another big area for us.  I did a lot of cooking this week. I mentioned yesterday about canning. Another area that saves us money is menu planning.  A third way we save money is by buying our meat in bulk. We have purchased several cows in the past. Last year as we ran out of steaks and were low on hamburger, we found and purchased a whole cow.  We have been enjoying the steaks and some hamburger from the new cow but today we ended up using the last packs of meat from the previous cow purchased about 4 or 5 years ago.  I don’t regret at all purchasing the whole cow last year because meat prices have risen significantly in the past year and will continue to rise. I know that we saved money by purchasing and storing meat in bulk.  A much bigger and sometimes hard way that we save money is by not eating out. This has been hard at times but a cheap meal out for us is around $70, fast food using coupons and drinks at home is usually around $40 and a full regular meal is at least $100. We usually eat out on Sundays for a full meal and at least one other time during the week.  We saved at least $50 this week by eating only at home.

Our money saving goal for the next month is to try and save $1000 to use on our Disney trip.  This will be a stretch but we are focused and by not eating out we have making huge strives.

5 Things Friday AKA What I did for Spring Break.

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1.We, Lily and I planned a short but packed Disney trip for the end of May, approximately 2 weeks ago.  It is something I am convinced we all need and will enjoy. So, in anticipation of the trip, I am going to save as much money as possible between then and now.  I would love to have $1000 but that is going to be a stretch.  The catch to the saving is that it has to come from extra money, not money that I am budgeting. I have worked out the budget for May already, so this is truly going to be a challenge. One caveat is that money left over from the grocery budget can be counted as savings. In addition, I am also going to say no Amazon buying unless absolutely needed.  I will try and deduct this amount from any savings we get.

2. This is week has been both the kids and I week of Spring Break. I have really really tried to get alot of things caught up and prepared ahead for the next month as well. Which hopefully will help with the goal above. Braxton has been with us for at least half of four out of 5 days this week. He is actually enjoying screen free time!

3. One of the areas I have focused on this week is outside both for gardening and landscaping. I have spent $300ish on additional plants, soil and mulch. This includes paying Zach for lots of hot work applying mulch and helping getting the yard looking it’s best.  I have been able to purchase 2 hydrangeas for $14.00 each on clearance, along with several other “clearance” plants that have helped to completely fill by Greenstalk vertical planters. I found angel trumpet trees on Facebook marketplace. Zach helped me repurpose by painting several older planters with a fresh coat of paint which I think turned out great!

I will give a better garden update on Sunday, but we have not lost any plants from transplanting, and we have a watermelon growing!  I am so pleased. Several hours and bags of dirt went to finishing up the planting space. My goal is to finish all the Spring planting today!  I really only have one area to plant now that the dirt is filled.

4.. The other area that I have worked on this week is cleaning and organizing parts of the house. One was the living room, where we found a 5-gallon bucket of water sealant. Zach used this outside as well. I also moved all the plants outside for the fresh air and sunshine.  The living room is so open now it is amazing!  I also spent time filling and organizing the canning closet. I added 28 jars of beef stock and 8 cans of white beans.

5. I also planned to work on getting our food together for the next 4 to 8 weeks (until Summer break). I actually made multiple trips to Costco and Food lion. I also attempted to use up items in our freezers.  I am proud to say other than 1 lunch at McDonald’s for $10.69 We have eaten at home all week. This is huge! I have made multiple batches of sour dough and frozen some.

Overall this was a great productive week!

Saving on Saturday

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We have been spending quite a bit of time working on getting the yard and garden ready for the Spring and Summer.

This old jeep wheel makes a perfect hose holder!

When we finally got the deck replaced last year the construction cause us to lose our compost box as well as one of the side flower beds.  Since the weather has turned a bit nice, I have been working to get these spaces back to use this year for either flowers or vegetables.

All the wood has been reclaimed from the “waste of the deck” I have been adding shredded paper in order to make a weed barrier.  We also “salvaged” some lumber screws in order to connect the pieces to make it more stable.  This actually has taken several weeks to get together. Finally,

this weekend, I was able to purchase dirt on sale. I am really loving it’s new look. We will be adding cattle panel across the bottom to help give it more of a separation and hopefully keep animals from under the deck.

Next I ended up paying Zach to level the area where the old compost bins sat and He used brick edging that had been removed from our front yard. I am thinking that I will plant either watermelon or Sunflowers in this area.

I think that it is small details like these that always improve the look of our house!

Saving on Saturday- Food Edition

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Food is always a huge expense for us, and I am constantly trying to find ways to save money on this expense. The biggest way to save money on groceries is to not throw away food.  We are fortunate to have chickens that pretty much like anything and what they don’t eat they poop on which can be used for fertilizer to grow more food.   I should also mention that yesterday was Valentine Day which added a bit of “celebrating” to this post.

We typically have a special or meal out for Valentine’s Day, but I did not want to deal with the crowds yesterday. Matt offered to pick up take out, which was a great idea. We have been going to the same local Chinese restaurant for at least 20 years so that was my choice for dinner.  We have discovered that recently, ordering out actually gets you more food than eating in. We ordered a Sesame chicken combo dinner which included rice and a soup, and a large shrimp lo mien, total $21.75.  This actually was enough food to feed 4 people dinner and one lunch!  Matt and I headed out early this morning to attend Braxton’s basketball game, we planned to head to Costco to do a stock up trip as I had over 15 items on my Costco list.  I had purchased gift card for a couple of restaurants last year with my Costco reward certificate, so this was a perfect time to use the remaining $25 one for Bad Daddy’s.  Matt and I ate for $8 including tip after the gift card, and we decided to add a Starbuck’s just for fun. Total cost for “Date Day” not including Costco $25! ($8 was to enter the ballgame).

Now on to more food content, I purchased a rotisserie chicken for $4.99 at Costco.  For dinner today, we chopped up some and made chicken and rice, this will also probably be enough for at least 1 more meal and a couple of lunches so that is enough for 10 people to eat, I also will be making a double batch of chicken enchiladas, one for this week and one to freeze, another 10 meals.  That means we spent approximately 25 cent a meal on meat.  But to make this an even better deal, I currently have my roaster oven going with a huge batch of chicken stock with I will can tomorrow!

We have some mini cinnamon and raisin bagel that we purchased a couple of weeks ago and 5 are left, which are beginning to become stale, I have cut these up and will be using for a French toast casserole for breakfast in the morning!

Finally, I have a couple of ears of corn left in the fridge along with a small portion from a can, this will get used for a new honey corn hamburger casserole this week!

I don’t mind food going to the chickens but I prefer to use what we have!

5 Things Friday

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  1. The weather has remained extremely cold. Today is the first time in a week the temperature has been above 45 degrees.  We are actually expecting even colder weather next week with the temperature to remain below freezing from Sunday night until Thursday. There is also a chance for snow as well.
  2. Zach and Kendall have attended school 4 days in 2024 and if they are able to continue with the schedule they plan. Then they will go 2 out of 5 days next week which will put them at 5 full days in the month of January.
  3. On Wednesday this week, I picked up a foster dog who may become a permanent part of our family. He appears to have some hound dog in him and some pit bull.  We decided to go the foster route just to make sure that he will be a good fit for us. So far, he appears to be very sweet but is having trouble remembering to pee outside.
  4. I am continuing to work on some budget items and plans.  I want to make a significant dent in our overall debt but I also realize that we can’t cut back to a bean and rice budget due to the kids and I want my kids to enjoy their high school years not think about what they can’t do.  Look for a post in the next week or so with some more specific details.
  5. I am staring to look ahead to our junk food Sunday!  I plan to purchase at least the chicken wings we need this weekend along with some bacon and sausage that we are currently out of.   The pantry challenge may be a bit more of a challenge as we look and plan ahead.