Wednesday, November 3, 2010

Why We Werent Able to Live Off of Todd's Income

I feel horrible for not being able to live off of Todd’s income this month.  I feel as though I failed in planning.  I really wanted to live off of one income.  So, I have been taking a look to see what we did wrong.
This is what I’ve concluded:

1.)    We went out of town for my cousin’s wedding in upstate New York the first weekend of October. That was a good 600 mile round-trip in Todd’s not-as-fuel-efficient vehicle.  Why did we take his vehicle?  It is easier for him to drive than Bianca because of her being a standard. Todd has carpal tunnel, and the constant shifting really bothers his hands.  So, instead of getting 42MPG, we got approximately 30MPG.
2.)    While on our way to NY, we stopped off in PA to several wineries in which we spent nearly $100 to stock us up for the Winter until we can make our own in the Spring.
3.)    Projects: Todd completed a couple of projects this month and needed to make a trip to the hardware store.  Those $10-15 trips a couple times can add up!
4.)    I had a brainy idea that I would add more to my plate and start the knick-knack business.  I now have 5 shows booked, but it cost me anywhere from $10-$35/show to set up a table.  Again, this adds up.  Not to mention the business cards I purchased and the domain name.  I did a very bad thing and purchased inventory on the credit card.  I would have to sell $125/show in order to pay off the credit card.  Todd has no idea how much I spent.  I didn’t mean to spend that much, but when you are walking through a gallery choosing items, it’s difficult to see how much you are spending.  24 pieces at $0.60/each here, 48 pieces at $1.10 there.  YIKES!  Todd asked, “Are you going to tell me how much damage you did?”  I said, “Nope.”  We don’t generally use credit cards.  I am hoping this is my LAST TIME using it now that I have inventory to start the business off.  Next time, I am not buying inventory unless we have cash saved up!
5.)     Snow Tires: Todd bought snow tires from Craigslist last month for $200 – a steal!  But now, he has to have them mounted.  This is a $60 expense.  I originally asked him to hold-off until next month to get them mounted, but every time the cold front would come through, he would get a bit antsy.  So I told him to go ahead and have them mounted at the end of October.
6.)    Oil Change: Todd is stocked up on oil filters to perform oil changes on both of our vehicles.  However, he did not realize that we did not have enough oil to do the oil changes.  On the 28th of October, we needed oil changes on both cars with only 2 qts of oil in stock at the house.  SO, he purchased 4 jugs of oil to last this oil change and the next one.  At over $6/jug, it adds up.

So, this means that it will be difficult to pay off Todd’s vehicle mid-November.  Christmas is just 3 pay-periods away (based on my income every 15th & 30th.)  That makes me nervous. I still need to purchase gifts for my mom and her husband as well as my father and his wife.  They are the big ones we buy for, so that will hurt the budget.

At this point, I would be ecstatic if we could pay off Todd’s vehicle by the end of November, but it doesn’t look like that will be possible.  It may not be until the end of the year that we will be able to pay off the Rondo.  In December, we have a lot of expenses (property tax on two houses, propane fill-up ($500+), and a puppy getting fixed ($300.)) Oh my goodness, why do I do this to myself?  I procrastinate and I don’t stick to my guns, then I get anxious about all that needs done to meet my goals.  Oy! 

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