Sunday, December 30, 2012
I started the year by making 12 resolutions. We closed on our house on a day so warm we didn't need coats, and moved in a week later in a snowstorm. Oh, Minnesota. (Related house posts: details about the house and what our house cost.) I finally got my hands on my domain. I talked about things that make me feel smart vs. things that make me feel broke. I debated saving for retirement vs. saving for kids' college funds. Peanut romanced me with life and disability insurance.
I evaluated how much of my spending is related to keeping up appearances. I read The Behavior Gap, which I loved. I complained about companies trying to scam new homeowners (and mail addressed only to the mail half of our jointly-held mortgage). I talked about finding good enough. Peanut and I fell into the new homeowner trap and spent a ton of money on a ton of stuff (nearly a year later, I just want to point out that I don't regret ANY of the money we spent - we have a great set of reliable cookware now. Oh, and we paid cash, which is the only way to go overboard like that!). I discovered that I like a new expensive hobby.
I participated in Women's Money Week and I was a jerk to a neighbor kid. We bought Peanut's dream car! I read and loved Words to Eat By. Behind the scenes, I was diagnosed with PCOS and told I could not get pregnant unassisted. As I struggled to accept this reality, I debated the sometimes unfair standards I set for myself and how that leads to general unhappiness.
I had some hefty medical bills for an ultrasound and started wondering if I'd made the right decision by going with our high deductible medical plan. I got all homemaker-y (by the way - we never used those firestarters!) and got an itch for superfrugal ideas. In real life, I hosted my mother in my own home (a first!), and took a road trip with her and my sister. I took up quilting as a hobby. Oh, and I got pregnant, but I wouldn't learn that for another four months!
That ultrasound turned into a full mammogram, which I had right when pregnant breasts are the most sensitive (I just thought that everyone had been understating how truly painful mammograms are!). I hosted the Carnival of Money Pros and told 1800Flowers that we are never, ever, ever getting back together. I explained why we left New York. I read and was inspired by The Complete Idiot's Guide to Couponing, and started the #couponchallenge. I was awkward to my hairdresser (I followed your advice!) and was amazed by a 9-year-old blogger. My mind was boggled by women who give up any participation in their household finances under the excuse of sharing finances with their spouses.
I started keeping a price book and learned some very interesting things about my assumptions. I spent a week in New York and a week in LA for work, so I didn't get a lot of blogging done!
I went to Aldi for the first time. Peanut and I got big raises on the same day! We added a four-legged friend to the Moneybags household. Offline, I enjoyed some seriously unseasonal weather for Minnesota, and I sat in my backyard and soaked it up.
I got the itch to spend some money! I went public with our infertility struggles and almost immediately found out that I was very pregnant! (Perhaps this blog is my vision board? If so, note to the universe: I don't have a million dollars in my bank! It would be a great thing to have a million dollars in the bank! I will keep you guys posted if this works!)
Only a few weeks after learning of my pregnancy, I gave birth to our daughter Baby M. We became NICU parents and pretty much everything else was put on hold. I struggled with learning to appreciate the generosity of others.
I discovered the true meaning of financial peace. I joined Dimespring as a regular blogger. I debated selling breast milk vs. donating it (I've since donated over a thousand ounces to local preemie and adoptive moms). I discovered kids consignment sales and tricked out Baby M's room and wardrobe on the cheap.
I waxed poetic about my trip to the kids consignment sale. I wrote about maternity leave over at Dimespring, and in real life I went back to work and struggled with balancing those responsibilities with my new job as a parent - and therefore I didn't blog much!
I read and reviewed The Money Code, which gave me some interesting insight into my money personality. I PAID OFF MY STUDENT LOANS! I detailed life in the NICU, which remains the overwhelming focus of my life.
In summary, 2012 will go down as probably the most unforgettable year of my life. From where I stand now, what could have been the most horrible experience I can imagine will have a happy ending - Baby M is healthy (all things considered), happy, and will be coming home sometime in the new year. Peanut and I remain ridiculously in love with each other, we are delighted with our home and the decisions we made last year to change our lives, and the furry cat-shaped hole in my life has been filled purrfectly.
For 2013, I hope for strength. I will take on the hardest job I have ever had - parenthood. I will spend six months at home (or hospital) with our daughter, and while that job is hard for everyone, I have been warned that the job of parenting a preemie can be tougher than average. In addition to managing a baby's need for food, sleep, and entertainment, I will learn to dose medications, handle oxygen tanks and possibly feeding tubes, and (please no) administer infant CPR. I will be her advocate with medical professionals and anyone who might carelessly get her sick. And I will be thankful daily for the opportunity to do so.
How was your 2012? Do you have any big hopes for 2013?
Wednesday, December 26, 2012
Click over to Dimespring to read the rest!There are a lot of things I like about the holidays: the music, the food, the change in seasons, the food, the festive spirit, the food, the decorations ... did I mention I like the food?But I don’t like exchanging gifts.
I will be ever appreciative to all of the doctors, nurses, occupational and respiratory therapists, hospital staff, friends, and family who were able to say congratulations to us right off the bat. It felt strange, at first, for people to be congratulating me for failing to stay pregnant and for having a baby who had to live in a plastic box for several months. But it was the right thing to say. The word recognizes that what happened - a traumatic medical experience - is not all that happened - we also had a baby! Something that should be celebrated! Something we should be proud of! Something that changed our lives! I saved every card that was sent to us, and I treasured every bouquet of flowers.
Everyone in the hospital refers to us as "mom and dad," even calling us that to our faces. This also seemed weird to me at first (what, don't they bother to learn our names?), but I am so grateful that they do this. Early on when there was no parenting I could do, when I had a hard time believing that I was a parent, I felt a little lost among the people who knew what was going on. Being called "Baby M's mom" made it easier for me to identify myself as such. It also helped us find our place in the NICU. Everyone else has a title: Doctor, Nurse, RT, Social Worker. Mom and Dad are pretty unique and definite titles!
Things that Hurt
I will never forget the words that a dear family member uttered when I called with the news of Baby M's arrival. "She might not make it." I wanted to scream. I know this person was trying to protect me in case the worst happened, and I knew (oh believe me, I knew) that this outcome was possible. But it was the last thing on earth I wanted to hear.
One friend, who I emailed with the news, wrote me back "I'm so sorry." I understand the sentiment that she was trying to convey - that she was sorry such a traumatic thing had happened to me, that she knew it wasn't what we'd wanted, but it still smarted. I'm not sorry Baby M was born, regardless of the circumstances.
Do not tell me statistics. Either I know them by heart or I am purposefully avoiding them, and your recitation of them isn't going to get to the fact of the matter, which is that statistics tell you NOTHING about an individual. Even the doctors refuse to quote me statistics when I ask for them, so I don't want to hear it from anyone else.
Maybe surprisingly, the words that I hate hearing the most are "You're so strong. I could never handle what you're going through. I couldn't cope."
I do not have a degree in coping. I have no special training in being a NICU parent. I had no preparation for seeing my child kept alive by machines. There is no secret to doing this. I just do it. Sometimes I am sure that I can't handle it, that if one more fucking thing lands on my plate I will completely go to pieces. That it isn't fair, and it isn't right, and this is not what I signed up for. But falling apart won't help me, and it won't help her, so I get out of bed, and I pump six ounces of breast milk, and I drive to work before the sun is up, I work a full eight hour day and I am more productive than I have ever been in my life while pumping every two hours, and I speed through rush hour traffic and I wait impatiently at hospital security and I scrub up and I get updates from doctors and nurses and I change diapers and I silence monitors and I untangle oxygen cords, and I read about surgery outcomes and medication side effects and disability statistics and the blogs of other preemie parents, I eat dinner from a charity and I pump more breast milk and I take pictures to take home with me because I can't take my child, and every night when I walk out of the hospital so tired I can't see straight, my heart breaks in two. And I drive home and pump milk all night and I do it again the next day. And it's worth it because every time I snuggle my daughter, I think I can do this.
And you could too, if you had to. You'd have no choice.
Tuesday, December 18, 2012
The future is uncertain for all of us, but since Baby M entered our lives, my future in particular has become uncertain.
Will I go back to work full-time, permanently?
Since Peanut and I have been together, we have been careful to live a one-income lifestyle while bringing in two. This allowed him to try his hand at freelancing for six months, let us save up to move across the country and buy a house and two cars in eight months, and made my being on maternity leave with only five weeks' notice no big deal. But we didn't plan that so that I could quit my job to stay home with babies - I have a master's degree in my field and I like my job and my career, and I planned to go back to work after Baby M's full term arrival.
And then she came three and a half months early. I didn't even have enough leave to be off work through her due date, and I have a fairly standard US maternity leave.
Luckily, my company has been very understanding*. I took all my paid leave when she was first in the NICU, and I will take an additional six months unpaid, starting next month. Whether I go back at the end of that depends on how her health is at the end of that six months.
Due to her chronic lung disease, we have to be extremely vigilant about protecting her from colds and other respiratory illness. Her doctors have recommended that we keep her out of daycare for two years. My leave will get her through the first cold and flu season, but what do we do after that? Where do we find caregivers who are experienced with preemies, don't mind babies on oxygen and maybe with feeding tubes, who are certified in infant CPR, who can take her to some of her many, many follow up appointments - and who are affordable? It seems an awfully tall order.
I have a lot of reasons for wanting to go back to work: I like feeling smart and capable at my job, I like working with books and book people, I think it's a great thing for me to demonstrate for my daughter. I never planned on being a stay at home mom, and I'm afraid I will go stir-crazy staying at home with an infant, especially because we can't leave the house and go to the park, museum or even grocery store during cold and flu season. I worry about leaving the workforce and trying to get back in down the road.
But ultimately Baby M's health trumps everything. If she needs me to be at home, take full-time care of her and be her advocate with medical staff and early intervention professionals, that will be my job. We just have to wait and see what she tells us.
*Which, frankly, they had to be. I was prepared to quit outright. THIS is the reason to go after financial security: so that you are in control of your own destiny. I don't think that my ability to quit has made them be more generous - my bosses are good people - but it certainly didn't hurt. I generally don't recommend anyone discuss their overall financial picture with their employer, but I have noticed that I am treated a little differently now that the higher-ups know that I don't NEED this job. They have more of an incentive to make me want to stay there!
Monday, December 17, 2012
Our hospital is amazing in that they treat any child with no regard for ability to pay. We are fortunate that we picked the best health insurance available to us. It's a high deductible plan, but the deductible is totally manageable and after that everything is covered 100%. Not only that but because of her birth weight, Baby M qualifies for state aid which will cover the deductible for 2013 (which we will reach, in full, on January 1) so we probably won't have any out of pocket medical expenses for the entire year. Maybe some prescriptions, but that's about it.
Aside from the cost of her care, our finances are sort of wonky right now. We are spending more on gas driving back and forth to the hospital, but almost nothing on food - we've bought only things like milk and instant oatmeal for months. I posted about my initial discomfort with receiving assistance from the Ronald McDonald House, but I am long past that. We eat dinner there almost every night and I am grateful for it every day. We will be coming back to serve a meal in the future to pay it forward, hopefully on a very regular basis. The care we are receiving from them has already encouraged our extended family to contribute through the collection bins in McDonalds restaurants.
We don't really go shopping at all - Christmas is totally canceled, and the baby shopping is done. I can't justify spending time in a store when I could be cuddling my kid. It means that I have missed out on a lot of couponing deals for items like diapers and wipes that I would otherwise be stocking up on but you know what? We can pay full price for wipes. Big deal.
We did manage to pay off my student loans in the middle of all this, though. We've been chipping steadily away at them, but we decided to take the money we'd been setting aside for our Roth IRAs and just get rid of my loans and start dumping extra on Peanut's. It sucks to not max those out for a year or two, but we gain a lot more security and monthly cash flow in the short term by doing this. I always liked Dave Ramsey's recommendation to shore up your finances when you see storm clouds on the horizon, and this is one way to do that.
The hardest part of this financially is keeping track of where our money is going. We are almost always on the run, and keeping our spreadsheet up to date has been a little challenging. This sort of thing makes me crazy for some reason, but if the biggest financial headache I have while my daughter is in the hospital is that a spreadsheet doesn't match the number of bills in my wallet, I am lucky and I just have to keep that in mind.
Sunday, December 16, 2012
It was ten o'clock at night. We had just left the hospital after snuggling Baby M into bed. We were exhausted and kind of loopy and we were out of milk. I also needed baby fingernail clippers. We decided to stop at Target, and I asked whether I should just run in or if Peanut wanted to come in too. Then he said, "Let's just look around together."
Woo hoo! We never just go shopping for shopping's sake! Never! We always have a list and a plan and a desire to get in and get out as quickly as possible! We were breaking all of our rules!
We bought whatever we wanted. But just to show how cheap we are when it comes to going crazy, here is a list of everything we bought:
Slippers for Peanut (his existing ones have broken)
Gloves for Peanut (his old ones had an unfixable hole in them)
A Christmas stocking for Baby M
Baby nail clippers (in blue; the pink ones were $1.50 more)
A loofah for me
A gallon of milk
A package of pancake-sausage corndog things
A package of veggie sausage links
Two Annie Chun's soup bowls
Grand total: $32.79
Which we paid for with a Target gift card that we got at our baby shower.
Watch out, we are cRaZy!!1!1
...Through all the posts I've wondered if they have indicated what caused you to go into labor so early and if there was any reason that the methods they tried to hold you off did not take. Also just wondering how this affects any potential future pregnancies...Which I guess I should have clarified! I mentioned it only briefly right after Baby M was born, and not as part of this series.
I didn't go into labor, exactly. No one knows why I was having such frequent contractions so early in the pregnancy, but as they were painless and not effective, they alone would probably not have caused her early birth. I had a placental abruption, which is when the placenta detaches from the wall of the uterus. It occurs in 1% of pregnancies and is life-threatening to both baby and mother. In my case, the detachment was happening slowly, so they were able to keep me pregnant for a few more crucial days.
The irritation of bleeding in a pregnant uterus can cause labor to start (the causes of labor are actually not entirely understood!). The drugs I was given kept me from going into labor, so they definitely worked. But once an abruption starts, it's only a matter of time before it becomes severe enough to endanger the baby and/or start labor that cannot be stopped no matter what. The abruption reduced oxygen to Baby M, which put her in distress. (I learned a lot of this after everything was over. I'm glad I wasn't told from the beginning: Hey, you're going to be on bedrest till you have the baby! Which we hope happens sixteen weeks from now!)
It's not known what causes abruptions. Cocaine use is frequently correlated, but that wasn't true in my case. I didn't fall, I wasn't hit in the abdomen. There is no history of it in my family. It's just one of those things that happens to people. Unfortunately, because it has happened to me once, there is a higher risk that it could happen again.
I have some other things against me in the reproductive arena: I have poly-cystic ovarian syndrome, which makes getting pregnant difficult, and can have increased risks of multiples/pre term birth if fertility drugs are used. I have a bicornuate uterus, which frequently is associated with pre-term birth (I was actually expecting to give birth around 35 weeks, but not 25!), but is not associated with an increased risk of abruptions. Having one pre-term birth correlates highly with having a second for reasons that are not entirely understood. And having a c-section so early in the pregnancy increases my risk for a uterine rupture.
All of that has not necessarily put me off having a second child. All of the risks above, even the associated ones, are relatively small. I asked my doctor point-blank if she would recommend that I avoid future pregnancies, and she said no. So I have the official medical greenlight to try again, with a few caveats.
If I get pregnant again, I can expect to be placed on bedrest from the beginning. I would be monitored closely by a perinatologist as well as my OB/GYN. I would be kept pregnant for as long as possible but likely would not be allowed to go full term. I would have another c-section, unless, in my doctor's words, I "showed up to the emergency room so far into labor that the baby came before we finished signing the paperwork." I would be terrified for every minute of the pregnancy, and if we did wind up in NICU again, I would be dealing with the stress and trauma that I now know very well along with a child who also needs attention. In addition, I am fully aware of how smooth a path we have taken compared to some, and I'm not sure I like the chances of the road being that easy a second time (for example: boys struggle far, far more than girls do. That's an 50% increased chance of major issues right there!).
There is also a pretty big chance that I'd get pregnant easily, have a completely uneventful road and give birth to a totally healthy, basically full-term baby with no complications. We just don't know. At best, I think I would only try for one more pregnancy. I am 31, and it would take me a few years to be emotionally ready for this - and guess what, pregnancy over 35 is correlated with pre-term birth!
I've had to come to terms with having a pregnancy and birth end not the way I wanted them to. I've had to come to terms with never getting to have the type of birth experience I wanted. I am still coming to terms with not birthing the number of children I wanted (three or four) and possibly raising an only child, something I was kind of set against (no offense to only children or one-kid families; I have lots of siblings and they are a huge part of who I am. That's just what I know and what I wanted for my own kids.) Peanut and I have talked about adoption but right now it's not something we envision for ourselves.
So, in short, I don't know whether I'm done having kids. It might be irresponsible of me to even consider it. It might not be a big deal. At any rate, I have no business making decisions of that magnitude right now, so it's something that we are putting off for a couple of years.
Saturday, December 15, 2012
Friday, December 14, 2012
Thursday, December 13, 2012
Wednesday, December 12, 2012
Mainly, advertisers. Petty thieves aren't generally willing to go to the trouble, and my life is not interesting enough for the government to keep tabs on me, but advertisers can and do pay for data that allows them to target us more effectively. If a company knows your demographic information, where you life, and where you are likely to shop, they can probably tempt you to spend money on their products.
Well, okay. That's not awesome, but is there really any danger to it?
I don't know - I think it remains to be seen. Who's Spying on You? makes a compelling case that even when data is anonymized before being shared, it can be reidentified quickly and easily with just a few pieces of the data that is concerned "unidentifying" - gender and zip code, for example. Add a birthdate to that, and you can narrow the possibilities down to only a few. Do you want your medical information shared with such flimsy anonymity? I don't.
The last section of Who's Spying on You? covers the steps you can take to protect your privacy across the major areas where privacy is being invaded: your location, your home, your phone, your computer, your money, your medical history, and your kids.
My only complaint about the book was that the copyediting was seriously sloppy. There were a few sentences that I absolutely could not parse, along with some generally lazy turns of phrase ("endanger species," for example, instead of "endangered"). I would expect a more professional presentation from such a respected institution as Popular Mechanics. Then again, books are my business, so maybe this doesn't bother others as much as it does me.
The big selling point for me is that while much of this information is available on the web, it's nicely condensed here in book form (no one knowing what you're reading!) with a logical progression and solid recommendations. If you're at all concerned about your privacy, or curious about what you're giving up without even realizing it, this is a very good starting point.
Disclosure: I received a free copy of this book to review. My opinions are my own.
Tuesday, December 11, 2012
Monday, December 10, 2012
All of that changed one Thursday evening. I was driving home and felt a very brief, very intense pain, and then a sensation as though I had started my period. Which of course, was impossible - I was 24 weeks pregnant.
I got home, checked to see that I was in fact bleeding, calmly told Peanut that I thought I was in labor, laid down on the floor and burst into tears. When I called the doctor, she advised me to go immediately to the emergency room, so we got in the car, me sitting on towels and holding a bag in case I threw up, and we drove to the hospital the doctor recommended – I hadn’t even had time to pick one
The bleeding had become much heavier by the time we got to labor and delivery, and I was starting to get scared. I was hooked up to a fetal monitor and got to hear my baby's heartbeat for only the third time in her life. I also learned that what I thought was the baby rolling over was actually contractions - I'd been having them about every five minutes for three weeks. I was given multiple shots of drugs to stop labor, steroids for the baby’s lungs, and Rhogam, which you need if you have a negative blood type.
Time passed. This part is kind of fuzzy, aside from how horrible I felt. After a few days I got weaned off The Mag and I felt like a totally new person. At this point, I still thought I was going home. I knew I would be placed on bedrest, but my doctors kept giving me tentative going home dates – usually “the day after tomorrow”. I know now that they had no intention of sending me home, and I’m really, really glad I didn’t know that then.
I should have been tipped off when they asked a neonatologist from the NICU to come talk to me about what premature birth would mean for my baby. She gave me a very good overview of the difference in outcomes based on gestational age, and said she'd like to see me stay pregnant until at least 28 weeks, or better yet 30, or even better 33, at which point she would not mind the baby coming at all. I liked her, but I thought it was overkill for her to come visit. I mean, the contractions had mostly stopped, and they weren't effective (meaning my cervix was still tightly closed and my water hadn't broken). It was just some bleeding, which had been controlled down to almost nothing.
Peanut came to see me every day. The fold-out couchchair in my room didn't seem that comfortable, and I wouldn’t sleep well if I thought he wasn’t sleeping well, so I sent him home to sleep every night. After four days I was moved to the post-partum unit, which I found out later is also a high-risk pregnancy unit. My digs were pretty nice - adjustable bed, tv with dvd player, cable, and on-demand educational health videos. I had a fridge and a microwave, my own bathroom, free wi-fi. The nurses were all top notch. The food was really pretty good - I could call down and order anything I wanted all day and they would bring it up.
The morning of the day that would become Baby M’s birthday, I ordered a huge breakfast – oatmeal, toast, hardboiled egg, bagel with cream cheese and fruit. I figured I could use the time in bed to gain some weight. About an hour after breakfast, things went south.
Saturday, December 8, 2012
Friday, December 7, 2012
I PAID OFF ALL MY STUDENT LOANS!!!!!!
Peanut and I decided recently to go all Dave Ramsey on our student loans (our only debt besides the mortgage) and funnel the money we had earmarked for Roth IRAs into paying them off. Doing so killed a balance of $8,100 and a monthly $225 payment, which is now freed up to attack Peanut's student loans.
We hope to pay his off within the next year, meaning we would only miss two years of Roth contributions. I hope we can do that - his loans are around $18,000 which is a lot of money when one of us won't be working for half the year.
I graduated in May 2010, and my degree is mine, clear and free! Also, I estimated a little high when sending in my pay-off payment, and the student loan servicer now owes me $40. That'll be a check I'd want to frame, except I'm totally going to cash it. :)
Tuesday, December 4, 2012
She is still in the hospital but no longer in intensive care - she's in the transition unit, the last stop before she goes home. We've got another month or two before that happens, but she's doing quite well. She has more than tripled her birth weight and is just starting to take her meals by mouth instead of feeding tube. We've had a pretty smooth path, with no surgeries or major issues.
I went back to work at the beginning of the month, which explains my radio silence. It has been bittersweet to be back - it's nice to feel smart and capable and useful again, and honestly it's nice to be distracted during the period of Baby's life that simply requires patience. But it's really hard not being at her bedside all day long, especially now that she is more interesting and interactive than she was at first. My schedule is pretty demanding right now - I spend a full day at work, then five to six hours at the hospital every weekday, and eight or so hours each weekend day. I don't do much else - laundry when it absolutely needs it. No grocery shopping (thank you, Ronald McDonald House!) or other errands. We have made a point to spend time with friends and family every other week or so, to stay connected with people and give ourselves a break. And I go to yoga a few times a month to maintain my sanity (and it's helping with my recovery as well).
I am still pumping breast milk every three hours around the clock. I made a decision about selling or donating breast milk - I have made donations of several hundred ounces to four different moms (a total of six babies) and I will make an official donation to the Human Milk Bank later this month.
The NICU experience is a really crazy one. I haven't been writing too much about it over here, because I don't know if anyone is interested in that since it's not related to money at all. But I can absolutely talk more about it if people want to know what it's like.
Monday, December 3, 2012
Drawing inspiration from The Behavior Gap (see my review here), simple line drawings help illustrate larger concepts, like how to narrow down what you worry about to those things you can control and the intersection of good decisions. The main points of the book are repeated throughout, emphasized in different case studies and with different scenarios.
Determining your money mind is possible with questions from the book or a well-executed quiz available on the companion website, MyMoneyCode.com (link directly to the quiz here). Once you've learned whether you are a protector, a pleasure-seeker, or a giver, it's easier to determine why you keep making the same mistakes with money over and over again.
I am very definitely a protector. I need a safety net. I am able to be disciplined about saving money, avoiding debt, investing conservatively, and living within my means. However, I also frequently deny myself large or even small pleasurable treats, I have been selfish with money rather than giving, and I am much more likely to fear losing money, thus missing out on opportunities. Knowing how I am likely to act with money can allow me to overcome some of those downsides to being a protector, and use money to enjoy life as well as safeguard my future. The same understanding is given for the other two money minds, along with tips about how to interact with people who have a different money mind that you do.
The biggest downside to The Money Code, in my opinion, is the parable format in which the material is presented. We follow Jack through his encounter with a strange man called The Alchemist who gives him computer lessons and then a one-hour therapy session on a ranch. The lessons and talk therapy impart the components of the money code, use illustrative case studies, and conclude with questions to ask yourself. I found this convention goofy and distracting - it's a lot of filler around some really good food for thought.
That said, I think The Money Code is worth a read if you keep making the same financial mistakes (or even just sub-optimal decisions, like feeling stingy all the time) and can't quite figure out why. It's not prescriptive as much as descriptive - you'll have to figure out how to apply the knowledge to your own life - but it's a fresh, interesting look at our motivations.
Sunday, December 2, 2012
1. Self-care. I am doing okay on this. I've been eating really well and trying to get enough sleep. I have scheduled the rest of my vacation days so that I have a day off every two or three days. I've been strict about bringing my pump with me everywhere. I have worked so hard to build a solid milk supply without actually breastfeeding, and I do not want to endanger it.
2. Financial plan of action for Baby's homecoming. We have made some plans for how to handle our money while we're down to one income - I took my paid disability leave last time, so we weren't exactly down to one income. When I go back on leave it will be solidly single income, and it'll be for a longer period of time, so we better know that we can pull this off!
3. Ask for help. Fail - I haven't talked to anyone about helping me with the quilts. Ultimately, I realized that the quilts don't need to be done before she comes home, and I don't need to deal with them right now. As usual, I'm trying to do everything myself so it gets done right. :p
4. Figure out taxes for 2012 and make adjustments. I didn't do a dry run after all - Turbo Tax 2012 isn't available until early December. So this goes back on the list!
5. Don't go crazy on the baby spending. I did pretty good on this. We got the crib on sale and a ton of stuff from consignment sales and baby showers. The only thing we still need to buy is a car seat (no, I didn't go on Black Friday after all). And preemie-sized diapers. Lots and lots of diapers. (I'm holding off on this in the hope that she will be in newborn sizes when she comes home, and will therefore fit into the cloth diapers I bought on Craigslist.)
1. Cancel Christmas. This is on my list every year and probably should have been done earlier than this but whatever. I just want to let our families know that we will not be doing any shopping this year, and we would prefer to not receive any gifts, either - it creates a sense of obligation and besides, we don't need anything.
2. Pay off my student loans. Woo hoo, this is a big one! I'll make a separate post about this soon.
3. Hunker down for one-income living. Last chance before it gets real!
4. Dry-run taxes and if it makes sense, get dental work done. I have close to $1,000 worth of (yet more) dental work I need to get done, and given our medical spending this year it might make sense to do it in 2012 instead of 2013, so we can deduct it. If it doesn't make a difference financially, I'd just as soon wait to do it because my time is so precious right now.
5. Buy nothing for Baby M but diapers and a car seat! Seriously, we don't need anymore baby stuff. Even if it's cute. Even if it's on sale. Even if it's holiday-themed.
What are your December goals?
Food—dining out $226.41
Household items $55.34
Student loans $403.83
Total Spending: $4,395.45
Things of note:
How was your November spending?
Wednesday, November 28, 2012
My husband and I had our first baby this year, so this summer I did some research on maternity leave. I was surprised by what I found out, so here are the four questions I recommend to all expectant moms (or dads!):
1. Do you qualify for leave under the Family and Medical Leave Act? If not, what type of leave does your company offer?Read more at Dimespring!
Tuesday, November 27, 2012
The sale I went to is run by Just Between Friends, a franchise consignment organization. Twice a year, they hold four sales in my metro area, all in different neighborhoods. I've heard that it's best to hit up as many sales as you can, because the selection will be different depending on the neighborhood. One area will have more clothing; another a better selection of items like high chairs and strollers - plus zip codes with higher incomes will have more expensive name brand items, if that matters to you. JBF sets up shop in abandoned retail spaces - former chain store locations that are currently in need of a tenant and so which boast register areas, bathrooms, and all the amenities of shopping in a regular store.
There are staggered opening times: pre sales are open to volunteers and consignors as well as first time moms, then general public days open first for a small admission fee ($3 or so, which goes to charity) and then for free, then there's another round of pre sales for half-price discounts and a last round of general public days.
I registered as a first time mom and went to the pre sale with a friend who also just had a baby. After being checked off the list (a bouncer at a garage sale!), we were handed large blue IKEA bags and turned loose into a huge retail space.
We were immediately faced with row after row after row of adorable girls' clothing, ranging from preemie sizes up to elementary school, neatly hung. There were a few rows behind that of boys clothing, then a row of maternity clothing. I hit up the diaper bags first, which were hanging next to the baby carriers, car seat bunting, and second-hand breast milk pumps. There were neatly organized rows of high chairs, booster seats, swings, jumpers, walkers, and car seats. There was a section of playpens and bassinets. The back wall held kids' shoes and nursery decorations, along with larger toys like doll houses and play kitchens, and a side wall showed off useful things like potties, baby tubs and strollers. Bins by the front held baby books, organized by age. Table after table held all manner of baby accoutrements: boppy pillows and covers, crib sheets, nursing supplies, bottles and bibs, safety gear, tiny nail clippers - everything you could possibly think to register for was present in that room.
And now, to the prices: WOW THE PRICES.
Infant onesies for $1 and sleepers for $2. Like-new Boppies for $5. Playards for $35. Diaper bags for $8. Books for 2/$1. Nursing tank tops for $5. Breast pumps for $30. Crib sheets and receiving blankets for a few bucks a piece. Car seats for $65 (I'm all for saving money but I did pass these up in the interest of safety). I spent about $160, and I came home with a couple of trashbags worth of clothing and blankets, plus a bunch of other stuff on my list.
Here was my strategy:
Make a list before going! On that list, write prices that you're okay with spending on each item - you can find a sample pricing list here on the JBF website to get an idea of what's reasonable.
When entering the sale, head towards the thing that matters most to you. In my case that was diaper bags. My cousin goes for the shoes first. The bigger things (cribs, car seats, etc) can be selected and put in a "hold" area in the back of the store. Try not to pick up anything that you don't want to lug around with you for another hour or so.
If you want a stroller, pick that out first thing so you can put the rest of your purchases on it and wheel them around (you can't bring your own strollers on pre sale days, but apparently other times you can - or some people bring laundry baskets on wheels). Take a swing through the tables of stuff for blankets, sheets, nursing supplies and other miscellany, and grab anything that matches your list - be broad here and grab it if it seems like it matches what you want, even if you're not 100% sure.
Then head to the clothes.
Got that? Go to the clothes LAST. Especially if you have a girl! There are so many clothes. So. Many. They won't run out of your size by the time you get there.
Set a price in mind per outfit and don't even take anything off the rack that's more expensive than that. My upper limit was $2.50 for a sleeper and $1 for a onesie. Many of the outfits are two or three to a hanger, all for $5 or whatever. I grabbed whatever looked cute and matched my price in a variety of sizes (a few newborn things, a lot more 0-3 months, and a couple 3-6 months).
Then hightail it to an empty corner or somewhere you'll be out of the way, and start sorting. I sorted clothes by price and checked them all over for stains and damage (merchandise is all checked for this sort of thing before being put on the racks, but I still found some). Then I weeded out stuff that I liked okay versus stuff that I loved - this was kind of hard, but there was truly so much of it that it wasn't hard to leave behind anything I was only sort of crazy about. Many of the table things were in ziploc bags and if the tops weren't taped I would open them up and check them for stains, damage and quality. Probably 95% of what I picked up was in great shape, but it never hurts to check, even when you're only spending $1.
I added up what I was spending as I sorted so I could stick to my overall budget, and then I took the things I didn't want to a drop-off point - there are volunteers that return unwanted items to the shelves.
The line to check out is long but moves fast - it winds right by the books, which is a great time to check those out. I always forgot to look at them until I was exhausted and headachey and standing in line to pay already, so I didn't wind up with as many as I would have liked.
I haven't implemented the rest of the consignment sale plan - sell stuff! I've started collecting things, though: extra pump parts, duplicates or things that don't match, Baby M's clothes as she outgrows them. When the spring sales come around, I plan to be a consignor, which will get me into the pre sales even earlier and hopefully I'll make back at least what I spend.
If I can swing it, I will go twice: once to the pre sale for "stuff" like strollers, diaper bags, nursing tops and other non-baby-clothing items. Then I'll go back to the half-price sale for clothing - there are seriously so many clothes that you'll still get great, cute stuff even after it's been shopped for days. (Note: this is true of girls' stuff; the boys' selection is not as great and might get picked over more quickly.)
Have you ever been to a kids' consignment sale? Any tips to share?
Tuesday, November 20, 2012
I never have. I worked retail once upon a time, about ten years ago, right when the black Friday madness was beginning. Simply based on that, I will never, ever go shopping the day after Thanksgiving, even though I love a deal.
On the other hand, maybe the deals on Black Friday are not so hot, after all. The Wall Street Journal did a report that found that frequently, better prices can be had a few months beforehand. After all, why would you lower your prices the day you KNOW customers are going to be shopping?
Then there was this Business Week article about the branding of Black Friday...and Cyber Monday...and Small Business Saturday...and even Buy Nothing Day. No Day is without corporate sponsorship I guess.
Young Cheap Living had a great list of 10 reasons to stay home this Black Friday.
So I say all that, and then I say, am I crazy to try to go shopping Black Friday evening? I am not looking for a deal. I don't want doorbusters. I don't want crowds.
I do, however, need a carseat, which I want to pick up in person, and Friday is the only day that I have totally free for the foreseeable future. Am I crazy to try to go pick one up after the crowds have cleared? DO the crowds clear on Black Friday?
Tuesday, November 13, 2012
Baby M is doing really well - she's growing (she's tripled her birth weight, three and a half pounds!), and eating (starting to learn to breastfeed!) and breathing (still with some oxygen assistance). She should come home around the new year, and we are very excited for it.
We are doing well, also. Peanut has been working crazy insane hours and I have gone back to work full time as well, so we're not seeing too much of each other and it's a little stressful - but we know that this time is temporary and things will get better soon. We are hanging in there. Thanks to everyone who's dropped me a note to check in on how we're doing.
20 Something Finance takes a look at the costs of a high deductible health insurance plan versus a PPO. Here's the difference for us, on an annual basis:
HDHP - Premiums $0 (covered 100% by employer). Deductible $3200. Coinsurance $0.
PPO - Premiums $2200. Deductible $500. Coinsurance 20%.
They're pretty evenly matched except for major medical events. Then, suddenly, the PPO becomes a giant albatross around our necks. Consider, for example, that my medical care for Baby M's birth was $50,000 - 20% of that would have been $10,000. And let's not even consider what we'd owe for her care, which has already reached the several hundreds of thousands. I thank my lucky stars every day that I made the right choice last November.
Still, that's not the case for every HDHP vs. PPO choice - our high deductible is not really all that high compared to many. It pays to do your research!
A summary on Lifehacker of how to commit internet suicide and disappear from the web. It's not the same thing as never having put something out there, but it's a way to clean up your tracks if you decide you want to be less findable.
I've been hearing a lot about JC Penney lately - Forbes recently covered the major losses they've suffered after changing from a sales-and-coupon model to an everyday-low-price model. I used to shop fairly regularly at JC Penney, always drawn in by a coupon, but I haven't bought anything there since they introduced the new pricing method. I wouldn't say that I am actively avoiding the store because of it, but sales and coupons certainly make me more likely to visit a store to buy something than just "everyday low prices". After all, I don't need any more clothes at any price, but I can always come up with a use for a $10 off $10 coupon. Interesting psychology, no?
Always the Planner's post about her infertility treatment had a great quote that applies to much more than the cost of reproduction: "However, I am a personal finance blogger. What I can afford and what I would like to pay are two different things." This is SO TRUE and probably warrants a post of its own. Keeping this difference in mind might be the key to financial success.
Trent at The Simple Dollar provides six simple gifts you can make between now and Christmas. Christmas is completely canceled in the Moneybags' house - we are not buying or making gifts for anyone this year since we'd rather spend our time at the hospital with our (very) early Christmas present. But this is a list I might well be using next year!
Wednesday, November 7, 2012
Max Out Roth IRA
While this won't lower your tax bill, it's a one-shot thing - you can only contribute a certain amount each year and if you miss it for a year, your chance is gone. You have until you file your taxes for the year to make the contribution, but earlier is always better! Here's more information about Roth IRAs, this year's limit, and who is eligible.
Your 401(k) contributions lower your tax bill now (deferring it until you withdraw the money at retirement) so it's a good idea to pay close attention to how it affects your overall situation. Of course, you should contribute at least to your employer's match, if one is offered - otherwise you are ignoring free money! If you got a raise this year, can you increase your contributions? A 1-3% contribution increase makes almost no difference in your regular paycheck but can pay off a lot in the long run.
In addition to checking your contribution level, you should also check to see how your 401(k) is allocated. Smart Money has a great rundown of how to evaluate whether your 401(k) needs to be rebalanced.
Did you know you can deduct medical spending that are more than 7.5% of your adjusted gross income? It's true. This is something that probably won't affect most people during most years, but if you have a high-deductible health plan and meet the deductible, or have a lot of dental work done, or have some sort of medical emergency, you might spend enough to be able to deduct the overage from your taxes. In addition to things like hospital bills, you can also deduct mileage and meals, which comes in really handy when you have a major medical event in your life like we did this year.
Monetary donations along with donations of goods and services might be deductible from your taxes. This requires you to keep some records all year long, but it can be worth it!
These last two are not tax-specific, but they tie in nicely to taking a look at your overall financial picture at this time of year.
Double check your benefits elections
Many companies do their annual open enrollment period in the last few months of the year. This is a really good opportunity to take a look at your health, life and disability insurance and make sure the plans you're on are still the most cost-effective and relevant to your life. And if you find that your company benefits aren't meeting all of your needs, I recommend private insurance - and I recommend Insurance for Dummies to walk you through the process. (No affiliation, I just really like the book!)
Take a look at your debt situation
For one thing, it might stop you from overspending during the holiday season! Perhaps you can take a new look at your finances and start formulating a plan to put into place as a New Year's Resolution to pay down your debt and gain some financial freedom in your life.
Do you do a financial or tax check-up each fall? Anything I missed off of my list?
Sunday, November 4, 2012
A great reminder about how to have faith in myself as a new parent, from Girl's Gone Child.
Sweating the Big Stuff asks which is worse: feeling guilty about spending money, or feeling regret over not spending it. This is tough, because I know I have both kinds of regret. I think it really depends on the situation, and if someone comes up with a magic way to tell the difference, please let me know! (Some things I've learned: if you have the chance to study abroad, DO IT. That's a big regret over not spending that I have. And if you have to pay for your boyfriend's share of your spring break trip that he planned, DON'T DO IT. In fact, break up with him.)
Lame: 20 Something Finance reports about CEOs abusing their authority by trying to sway their employees' votes. This should be every bit as illegal as campaigning outside the polls, in my opinion. Threatening someone's livelihood to get your candidate elected is shady doings.
Hurricane Sandy may be over, but there were some really good posts about preparing for emergency weather situations. My favorites were at The Centsible Life and One Frugal Girl, along with one from The Consumerist about how long refrigerated food is good for when the power's out.
Recipe alert: a lentil and brown rice casserole from $5 Dinners.
The New York Times covered how technology is changing the way students learn - I have definitely seen the effects of technology and a shortened attention span in my own life. Peanut and I plan to limit Baby M's screen time especially in the first few years of her life. We don't have a television, so that will be easy, but it'll be harder to limit computer/smart phone time when we are slaves to those devices ourselves.
This quote jumped out at me from a recent Small Notebook post: “My things should complement, not complicate, my life goals.” This is larger than "things" - I'd like to evaluate whether my decisions complement, not complicate, my life goals.
What good reads have you found lately on the blogosphere?