CashAholic

W-2's are in! Tax Time has arrived!

2012-01-28T20:32:00.000-08:00

My W-2's are in. It's time to begin my taxes. Ugh. I hope for a refund vs. having to pay $ to the IRS. My income increased from last year worse luck for me. I socked away some $'s in a 401K plan but I fear not enough.

I wish there was some way to plan for taxes vs. putting in numbers into Turbo Tax and hoping for the best.

No $ from my biz this weekend

2012-01-22T17:05:00.000-08:00

As anticipated ... I made no $ from my biz this weekend. Oh well. At least I had the chance to relax and gear up for the week.

$85 Dollars yesterday from the side biz

2012-01-18T07:27:00.000-08:00

The side biz is driving me crazy. Way too much work.

However, did receive a check of $450 from a client. So it almost makes up for the aggravation.

Net Worth Increased this Year

2012-01-16T11:18:00.000-08:00

2011 saw an increase in my net worth. I was surprised I thought this would be a bad year for me. My savings are still low, but my debt has decreased. So, overall on the right track.

My investment property has been very expensive because of the way I purchased it. I forsee further difficuluties with it, until it is refinanced. Currently still under the owners name.

Looking for biz

2012-01-16T11:09:00.000-08:00

Off work and trying to get biz for my side biz. Of course no one is calling me today. It's already 11 a.m. and no phone calls. That sucks.

I will work on online advertising to see where else I can place my biz for more coverage.

$90 from my side biz on Sunday

2012-01-15T16:50:00.001-08:00

Today I made a cool $90. I believe this may be the first time I made money from my side biz on a Sunday. I think it's a good thing. More money for me!

A little bummed out about my taxes. I think they are going to suck. I am going to have to report all this additional income due to my side biz. . It's hard to get a break these days.

Friday generated $250 from my side biz

2012-01-14T20:50:00.000-08:00

On Friday I generated $250 from my side biz. This was nice. However Saturday brought no revenue. Sunday will bring in another $90.

My biz is picking up. I like this. However, it's still not making $ everyday which is my goal.

$170 Today from my biz

2012-01-07T23:09:00.000-08:00

I made $170 from my biz today. It's finally bringing in some $. However, I think there is more $ I could make more easily. I just have to keep working at it. I am still waiting for my checks to come in for work I have done on my biz. No check so far.

No $ from my biz yesterday

2012-01-06T02:25:00.000-08:00

My biz failed to provide any money yesterday. So I went to the gym instead. I might as well gain some benefit from not making money. Hoping today will be a more lucrative day.

On the debt front my credit card debt is down to 10K. I feel that's an achievement. If I can make it down to zero credit card debt I am in good shape.

Money tomorrow ...

2012-01-03T22:45:00.000-08:00

I hope to make $35 tomorrow. Nothing like continuing my income stream through the New Year. I may make more depending on how my work is received.

Continuing to wish my fellow cashaholics good luck in accumulating cash.

Made $ today ...

2012-01-03T22:41:00.001-08:00

I made money today. Not exactly sure how much. There was a fair bit of work, but nothing I am not used to. Having a side biz is paying off. I will continue my endeavors ... and hope to accumulate more cash.

I currently have $1K in cash. I think that's not a bad accomplished when you keep in mind that I have never had that much cash in my life.

Long live cashaholics. I'm wishing myself well a long and healthy and wealthy life :-). Happy New Year all.

Snagged $160 today

2011-12-30T21:00:00.000-08:00

Today I made $160 bucks extra. Not bad for a day off from work. However, I must admit to feeling exhausted. I think that there is a better way to organize my life. Just haven't figured out how yet.

In the meantime I am making money but I feel that there is too much effort involved in doing so. If all goes well tomorrow, I will make $90. Not bad for a day's work.

Snagged another $80 bucks today!

2011-12-29T23:08:00.000-08:00

I managed to snag $80 bucks today. Not bad! For one days work. Tomorrow, another $160 potential await.

The importance of Cash

2011-12-23T20:29:00.000-08:00

Cash is important. Cash is King. We all need a stash. I encourage you to gather a stash for yourself. I know banks are good, but it's much better to keep your cash at home in case of emergencies. I feel more secure knowing I have begun accumulating my own stash.

$100 Dollars Tomorrow!

2011-12-23T20:25:00.001-08:00

I will make $100 dollars tomorrow from my biz. It's Christmas Eve, but that's okay. I'm happy to get more biz. I have drive to Chino Hills which sucks but it's guaranteed money so I will do it.

I have actually started accumulating cash now thanks to my new biz and keep a few hundred on hand for emergencies.

Have a safe and happy holiday. Please don't chase cash like me. It's not a good thing to do.

Another $85 today!

2011-12-15T22:12:00.000-08:00

My biz produced $85 today. I feel my biz is beginning to pick up! Yeah. Happy Holidays to me indeed. Wish me well in my cashaholic ways this Season.

Paying myself first

2011-11-27T09:19:00.000-08:00

It's an old concept but it's time to make it work for myself. In the past I paid my bills first and there was no money left for my savings. That has to change. Going forward, I will start paying myself first. I will become a bill like any other bill. I will transfer some money into my savings account every month.

Maxing out my 401K in 2012

2011-11-27T08:54:00.000-08:00

I increased my 401K deduction to max out my 401K in 2012. This means that by the end of 2012 by 401K will be richer by $16,500 for the year. It is a sacrifice but it's a sacrifice not to do when you are ready to retire and have to funds to support your retirement.

Building up Cash Reserves

2011-11-27T08:50:00.000-08:00

I talked to a friend and she explained the importance of building up cash reserves. She pointed out that if my job deserved I would be a horrible situation. And she's right. She told me to stockpile 50K cash before I purchased an investment property.

Her reasoning was that if you ever lose your job, you still need to pay your mortgage and other bills. The way you do this is by having cash reserves to tide you through the next year.

I am going to take her advice and start stockpiling cash. I call myself the cashaholic but haven't done anything to accumulate cash.

+$75 from side business

2011-10-28T21:48:00.000-07:00

I made $75 dollars from my side business today. Unfortunately, I had to pay my repairman $80 yesterday to fix a closet and hammer in a nail. I know it's ridiculous. But the charge included materials so I think it was pretty decent. The guy has a way of going to Home Depot and charging up a lot of supplies.

I found what he needed, and he was able to take care of my closet last evening. Being a property owner sucks. But the good thing is that you learn stuff.

Rich people are extremely unpleasant

2011-10-25T23:14:00.000-07:00

Rich people are very unpleasant. The richer they are the more unpleasant they are. And they are suspicious. I found this out via my side business. I don't recommend dealing with the rich. It's so much easier to deal with the Joe on the street instead.

I wonder if they realize how unpleasant they are? Probably not. And, to think that I aspire to their ranks. I wonder if I will become unpleasant too? Or are you unpleasant to begin with and then the money follows? Interesting thought.

Travelling to Fullerton

2011-10-23T10:20:00.001-07:00

In order to get my $95 I have to travel to Fullerton. Yikes. Not such a great deal. However, I am hoping that taking care of business will pay dividends later.

When starting a business you should take into consideration all costs associated with the business. It's not just supplies but travel time. If it takes you to 2 hours to travel to and from Fullerton that is not a great deal. Which I have found the hard way. I am still making $ but it's not a big profit margin.

Plus $95 on Saturday

2011-10-22T08:22:00.000-07:00

My side business will bring me an additional $95 this Saturday. I look forward to receiving this check when it eventually arrives. My business is picking up again. I love getting work on the weekend but it rarely occurs. So, kudos to me for my luck.

Plus $75 on Monday

2011-10-18T21:51:00.000-07:00

My side business made $75 dollars this Monday. Not a lot of money, but it's a start. The part-time business continues to make money. Even if it's only once a week, that's alright. It adds up. My job interferes with my money making activities.

Tenant Issues

2011-10-15T16:33:00.000-07:00

My tenant refuses to mow his grass and trim his hedges in a timely manner. I wouldn't care except for the fact that I continue to get letters from the City of Richardson. The penalty of not mowing your lawn is $220.

It's a large sum to pay for not having your lawn mowed.

New NetWorth

2011-10-15T15:48:00.000-07:00

I use a site:

https://www.networthiq.com

to track my networth. Despite my debt, my networth has improved. I'm finally have a 100K networth on paper. However, I feel quite poor.

My goal, which may be unrealistic is to achieve a 1Million networth my 2016. However, everyone should have a goal. A million is not what it was, but it's better to have it than not have it.

Trying to refinance my Duplex

2011-10-15T15:41:00.000-07:00

I continue my odyssey to refinance my duplex. On Monday (10.17.2011) I will find out what it is worth. I do hope my duplex values at what I paid for it. I am even willing to settle for $200K. I just need a valuation high enough to refinance. However, I know that getting comps may be an issue. If anyone is reading please keep your fingers crossed for me.

If I can refinance my duplex it improves my finances. I don't have to pay for property taxes every month. I can wait until the end of the year to do it instead. This is a bonus for me because I usually get a tax refund, which I hope will cover my property taxes.

Paying off debt

2011-10-15T15:12:00.000-07:00

Debt is an albatross around your neck. The sooner you pay it off the better off you are. I still owe $20K plus. $12.6K from my Discover card, and $8.1K from my 401K. I switched jobs but still need to repay my 401K loan. However, instead of taking it out twice a month - they take out 1.1K every paycheck. Disturbing.

So, I have to continue paying this money off.

Refinancing woes of a CashAholic

2011-10-14T21:23:00.000-07:00

I'm trying to refinance my duplex. I've already parted with $50 for a credit report, plus $600 for an appraisal. The thing that annoys me is that I may not be able to refinance after paying all these fees. I have no guarantee. I went through a loan broker, and am currently waiting for my appraisal to be done.

Thanks to the shenanigans on Wall Street my loan broker can not have any contact with my appraiser. She pays for the appraisal and that's it. I could be out $650 plus another $1k for my attorney. Sometimes life sucks.

This is not a good place to be for a CashAholic. I wait for the day when I find out whether I qualify for a refinance.

If I do refinance I will be in a good place. I will have positive cash flow on my duplex. If I don't refinance I am not in a good place financially.

TGIF!

2011-10-14T21:07:00.000-07:00

Thank goodness it's Friday! Work was hard as usual. However, my manager told me he appreciated the fact that I hit the ground running. I take the statement with a grain of salt. This ends my first month with the company, and I honestly feel that I am lost. I don't produce much. What I do has to go through QA and they come back with negative comments for my work.

Oh well. I have the weekend to recuperate. I don't like working for someone else. Not sure how people survive doing this for decades.

I remember how awful my first job out of college was. I wanted to retire then! But even I knew there were many decades ahead of me.

New Job Blues ...

2011-10-05T22:33:00.000-07:00

Due to the new job, I am not able to engage in my part time business venture the way I would prefer to be engaged with it. This week I only made $65 from my side business. Work is taking a lot out of me. I have to keep working every day which is a pain. I had become lazy from my previous job, but I can no longer coast. Now I have to work every day and produce work. In addition I am expected to spend 4 to 5 hours a day in meetings.

My life is truly hard, but there is scant sympathy for my woes from my friends. I get the ubiquitous line now of, "you are lucky to have a job." Sigh.

Changing Jobs ....

2011-09-24T07:42:00.000-07:00

I got a new job this week. I really like the new company more than the old company I worked for. I have a really nice manager, and I am trying to be very careful not to take advantage of his good nature.

I made a nice salary jump with the new job. And I really like the people at the new job vs. the old job. I think the people at my new job are smarter. I like that. I don't think they are cashaholics like me, but that's ok. That means more opportunity for me to gobble up cash.

My Side Business

2011-09-24T07:34:00.000-07:00

This weekend my side business picked up. I have one piece of business to conduct. I will make $75 from this transaction before expenses. However, I think this is great. I haven't had business over the weekend for a long time.

I'm happy to get the business. I especially love it when it happens over the weekend. I can concentrate on it and do a good job.

Visiting Vegas

2011-09-12T15:35:00.000-07:00

This weekend I went to Vegas with my friends. I had a lot of fun - seeing shows, eating, and shopping. I decided this weekend to stay away from the gambling and it was fun! I really enjoyed the time I was there and had lots of stuff to bring back with me.

This was because ... I didn't gamble my money away. Ever wondered why the hotels in Vegas are so large? It's because of us. We come and gamble and leave our money in Vegas to built bigger better hotels.

Speaking of which, this weekend I stayed in a suite in the Aria. It was a great experience. I recommend it to others. Everything was electronic. Form the curtains to room service there is a button you press.

It was very interesting. There was even a toilet that washed your butt. Weird.

In the end I realized that this type of luxury was too complicated for me. I prefer my small house.

Wednesday Blues

2011-08-24T20:05:00.000-07:00

I did not make any $ this Wednesday. Bummer. Perhaps Thursday will be a better day.

Cash Flow from a Small Business

2011-08-23T22:08:00.000-07:00

If I can make $100 a week from my small business I consider that a good week. Unfortunately, I often miss that target. The upside for me is that every week I make some money from my side venture. Not a $100 but something. Which isn't bad.

Theoretically my business started in Jan 2011. It's not August and I am getting revenue once a week which is alright. However, my goal is to make at least $100 every week.

To make it happen I have to spend $ on advertising. Ironic really.

Repairs to my Duplex

2011-08-23T22:04:00.001-07:00

I was forced to make repairs to my duplex. There was a hole in the ground, and water was coming from it. Never a good thing. My repairs are at $300 so far. It will probably end up being more expensive. The joys of ownership never cease.

Plus $95 from side venture

2011-08-23T21:58:00.000-07:00

I made $95 today from my side venture. My business on the side. In addition, I manage to draw a regular paycheck. Today was a good day. It's month end so I am hoping for more business. However, my expenses were high too - so it wasn't as profitable as it seems at first glance.

However, the fact that I am making $ on the side is awesome. More money for me at last! Yeah. I continue to advertise heavily to get business in. Today, I spent $30 today to advertise my services on a website. A one year subscription. I hope it means I get at least one piece of business from it.

Running a small business

2011-08-16T22:13:00.000-07:00

I've learned that running a small business is challenging. One of the hardest things is figuring out a good price point. I quoted a customer $65 for a job and am hoping to hear back. If I don't get a response by tomorrow it means that I have lost the job. I know the client hoped I would do the job for $50, but that price point is too low.

Plus, I have to wait a month to get a check. So, with that in mind I would rather ask for enough money to cover my expenses and make it worthwhile for me to own a small business.

I'm in this to make money! Not give it away.

Donate to the Cashaholic

2011-07-24T23:12:00.000-07:00

If you have enjoyed my blog consider making a donation to my cash fund. There is a easy to use button on my site. Thanks for reading and considering my request.

Cashaholic Cashing in ....

2011-07-17T13:14:00.000-07:00

This weekend my business produced $250. Not bad for a weekend venture. Hoping there will be many more of them. I can see how having a side business can substantially improve your standard of living. Having an extra $100 + in your account makes a big difference. The downside is that it takes a lot of time and energy to bring this extra revenue in.

Speaking of personal finances my credit card debt is now down to $13.1K. If I can pay it off I will be debt free except for my mortgages.

Living in LA

2011-07-14T10:56:00.000-07:00

Life in L.A. is expensive. It just is. You can try and cut corners and budget, but in L.A. cash is King. You need to have a lot of it to survive.

Sometimes I consider the possibility of moving to a place that has a low cost of living. I would save so much money. I would have a lower salary but the low cost of living would more than compensate for it.

If I were smart I would move.

$150 in New Business

2011-07-14T10:46:00.000-07:00

My business is beginning to earn some money. I have the possibility of making $150 this Friday. I had to fill out paperwork this morning and am waiting to hear if Friday is a possibility.

The 405 is closed on Friday at 7 p.m. and ALL weekend in Los Angeles. Carmageddon may be a very profitable weekend for me. Since the 405 is closed ... people needing business services need to turn to people within their neighborhood. So, I may get additional business this weekend. I am keeping my fingers and toes crossed.

End of Month Accomplishments

2011-06-26T07:28:00.000-07:00

I will have accomplished the following by the first of July 2011.

Gotten a paycheck
Paid mortgage
Received 3 rent checks (I hope)
1 signed lease from tenant of investment property
Pay mortgage on investment property by 10th of month.

Borrowing from my 401K

2011-06-26T07:20:00.000-07:00

I know you are not supposed to borrow but I needed the money, and I had nowhere else to borrow from. I borrowed 12K. I've made one payment of $500 so far. The first will bring my account my loan down to 11K. It sucks to have a paycheck minus $500 every month. But I see it as moving money around.

I used the money to pay the deficit on my 1st mortgage for my investment property, and to pay off my car loan. It's been around for a long time and a few K wiped it out. Yippee.

Unfortunately, that leaves about 5K, and my credit card bill is $17K. I'm not sure how I managed to accumulate so much in credit card debt but I did so now I have to figure a way to pay it off.

Other than being up to debt to my eyeballs, my finances are in good shape.

Started a New Business

2011-05-09T07:27:00.001-07:00

I started a new notary business. Strangely enough most of my money is starting to come from bank referrals. The business banker I work with doesn't want to be bothered with doing notaries the nearest notary is at UPS so as a service to his customers he calls me.

I initially charged $10 a notary, but wised up and now I charge $10 + a $10 travel fee = $20. Which is really for convenience more than anything else.

TGIF

2011-04-08T04:20:00.000-07:00

I am overworked as usual. I'm glad it's Friday. I have the weekend to relax.

I paid my #2 mortgage. This is what happens when you own an investment property. You have a home mortgage which is your #1 mortgage and a #2 mortgage for your investment property.

Now I am officially broke. I think I have $2 left in my checking account so I need to use my credit cards to survive until next Friday. I definitely do not recommend living the hand to mouth existance I live.

Another $2,300 payment to my rental mortgage account

2011-04-01T07:53:00.000-07:00

I am making another $2,300 payment to my rental mortgage account in April. Yeah. Always nice to look forward to my money disappearing. I think next month my payment will be $1,800. How nice to look forward to that.

Owning an investment property takes a lot of work, and money. Mainly money. Since my investment property is out of state I have to pay someone to do the work. So, there goes the money.

Issues with my rental

2011-02-13T08:10:00.000-08:00

It appears that my rental is not the sinecure I imagined it would be. To begin with I found that the loan I "borrowed," had unpaid taxes for 2009 and 2010. Since 2011 taxes also have to be paid this means my escrow account is $1,200 a month plus principal and interest at $1,100. My total payment is $2400 a month. Outrageous.

Waitng for my paycheck

2011-02-08T22:47:00.000-08:00

I am waiting for my paycheck. The days are going by very slowly while this happens. I have a lot of expenses including a cruise coming up. My salary isn't enough for my expenditures. I really need a new salary.

No Business Yet

2011-02-07T18:48:00.000-08:00

My business has not gotten any business yet. I need to locate some business for my financial well being. All, I need to do is to find a venue and then I'm all set. Unfortunately locating business is like finding a needle in a haystack. However, I persevere for lack of any other options.

Starting a new business

2011-01-27T22:44:00.000-08:00

I have started a new business - set up has cost me $500 so far. The costs are still occurring. I need to get some $ in to be able to deduct my business expenses. I wish someone would call. I sent out 50 letters soliciting business so far.

Digging away at Discover Card Debt

2011-01-19T07:32:00.000-08:00

I made a 1K payment this morning. Now my balance is only 15.2K. Yeah. I've stopped using my Discover card for every day purchases. This way I can eliminate it more efficiently.

It's easy to accumulate credit card debt and very hard to get rid of it. I'm currently working at the getting rid of credit card debt part and it sucks.

Establishing an emergency fund

2011-01-12T07:31:00.000-08:00

I have finally established one. It's only $1500 but it's definitely better than $0. It's comforting to know I have it but at the same time it's not enough. My credit card debt has increased again. Not a good sign. It seems that I don't have cash so I will use my credit card and my credit card keeps increasing.

However, I have taken the first step and created an emergency fund. I will keep adding to it and then work on paying off my gigantic 16K credit card bill.

Dinged $263 Dollars by Dallas

2011-01-12T07:25:00.000-08:00

As many of you may know I purchased a rental property in a suburb of Dallas. This may not have been the wisest thing I have done. I was charged $263 dollars by the suburb because the tenant failed to mow his lawn twice. This is the second time this has happened since I've owned the property.

I'm trying to be philosophical about this but it is darn hard. I work so hard to be frugal and then wham the fruits (well buds) of my frugality disappear. I have to talk to my tenant about hiring someone to mow the lawn twice a week to avoid recurring charges.

How would you handle this situation?

$650 from tenant

2011-01-06T21:08:00.001-08:00

I recently got $650 from my tenant. Not a bad way to start the New Year. I wish I could get more cash. Speaking of which I need a new job.

I think my work place knows that I am looking for a new job. I'm getting the cold shoulder from my manager. I'm sure one of my co-workers tipped her off. It's quite unusual. My manager is very polished and very professional, but she was definitely rude to me today.

Well, it was bound to happen. C'est las vie as the French say.

Opening a Business Account

2010-12-27T16:33:00.000-08:00

I opened a business account today for my rental property. I hope to have other properties in the near future. One property is never enough. I've never had a business account interesting to see how this will work out.

I will let the tenants know they should send their rent to my new account. Being poor sucks. My net worth is less than 100K. It pretty much sucks.

2010 Taxes

2010-12-26T12:14:00.000-08:00

My 2010 Taxes will produce about 5K refund for me. That's what the preliminary numbers say. Congress still needs to sort somethings out ... so I will wait until that happens, but since I have only 1 more paycheck till the end of the year ... it's pretty easy to figure out what's going to happen or not happen on my W2.

If I can pay of my car loan in 2011 which seems doable with my refund plus the money I should eventually get from my escrow refund I should be in good shape.

That leaves me with only my humongous credit card bill - $15K so far to pay off, but I can make a dent in it - if I don't pay it off by 2011.

Ways to pay off my 33K 2nd Mortgage

2010-12-23T11:00:00.000-08:00

I have a 33K 2nd mortgage on my duplex. I have to find ways to pay it off. I pay an interest rate of 10% which is outrageously expensive. So, I need to find ways to pay it off. The mortgage is not in my name but surprisingly is not an issue. The bank gladly accepts mortgage payments or payments to principal from people other than the account holder.

This does make me wonder ... why is it this? Shouldn't the bank be concerned about someone paying off your mortgage? But I suppose form the bank's point of view their main concern is to have a mortgage paid off and they don't really care who does it.

At any rate I made the first payment toward principal of $50. Not a lot of money but a good start.

I have to find some way to consistently make payments.

X-mas Gifts

2010-12-19T22:18:00.000-08:00

Since this is the last weekend to shop before x-mas, I hit the stores and joined others in last minute x-mas shopping. I think it's worthwhile to purchase gift certificates but I soon realized I could get great deals and convince people that I spent more than I otherwise would.

Most people expect to receive lame gifts for x-mas so I saw no reason to do otherwise. Inexpensive lame gifts are on their way to my friends and colleagues.

Visiting Vancouver

2010-12-18T15:09:00.000-08:00

I went to Vancouver last weekend and overall the weekend went well. I found it to be an expensive city and a cold city. I had to wear my coat the whole time I was there. The price of food is more than in the U.S. The sushi was great and less than what we pay in the States. Overall, it was a good experience.

In terms of business, the way business is done in Vancouver is very old fashioned compared to other places. People only do business with people they know. And the real estate market is in a bubble and the government is going to allow the bubble to continue.

There appeared to be a lot of minimum wage jobs but not jobs for people with much higher wages. Still I'm glad I got to see another city and another way of life. I am glad to be back in the States and able to resume my CashAholic activities.

$ back from Discover

2010-12-17T08:38:00.000-08:00

I anticipate getting money back form my Discover. Every time you spend money on goods and services and use your Discover card you earn cash back rewards. In my case the money has now hit the $50 mark so I can withdraw that money OR apply it to my Discover balance. I think I will try and apply it to my gigantic Discover balance.

When one doesn't make $1,500 payments to one's credit card - it's quite mind boggling how quickly the balance grows.

2010 Current Debt

2010-12-17T08:31:00.000-08:00

As of 2010 my consumer debt consists of 2 main items:

credit card debt of $15K
car loan of 7.7K

I am debating making a dent in these items with my 2010 tax refund. There is nothing to compare to paying thousands of dollars every year - only to get a fraction of that money back at tax time.

In the past I would have applied this money to my credit card debt which totals - 22.7K at this time ... but now I am thinking of just keeping it in my checking account. I am hoping to get 5K tax refund back for 2010.

Pathetic Yearly Bonus

2010-12-17T08:27:00.000-08:00

I think it's the nature of companies to be frugal and mine is no exception. This year my bonus of $1K. A little more than 1% of my yearly take home pay. I am definitely glad to get it - but wish it could have been a bit more.

This time though I am not going to use the money to pay off my credit card debt or my car loan. It is going to sit in my checking account earning no interest. Yes, I am finally living up to my rep as a cashaholic and accumulating cash.

2010 Accomplishments

2010-11-27T23:34:00.001-08:00

Refinanced Primary Residence
Purchased Duplex in Texas
Kept my job
Paid off my overdraft protection
Paid all my bills
Made 2 new friends

Financial Goals for 2011

2010-11-27T23:31:00.001-08:00

It's never to early to begin planning what you will in 2011. My main goal is to pay off my car loan. It's got $7,600 left on it and I think it's doable to pay it off. by the end of 2011.

Other goals include:

Reduce Discover Card balance to 9,000
$4,000 Cash Reserve in Checking

Rolling up my change

2010-11-27T23:27:00.000-08:00

I have a piggy back in which I dump the change I get throughout the day. Today I rolled up the money I had and it came to $12.50. I will go to the bank and deposit towards the principal on my mortgage.

I do this periodically to get rid of my change and my mortgage. I am determined not to pay off my mortgage in 30 days. My goal is to pay my mortgage off in 18 years. I think it's doable.

Bargains at Habitat for Humanity

2010-11-20T21:10:00.001-08:00

I picked up several bargains at Habitat for Humanity this weekend. I purchased 2 carpets 8 x 11 for $200. My house looks a lot better with the additions. I recommend the store to anyone who wants to pick up some bargains. While looking through Yelp, I found a Z Gallerie outlet in Gardena! Who would have guessed that they had an outlet in L.A.?

Trolling through NetworthIQ

2010-11-14T07:40:00.000-08:00

I am spending Sunday morning trolling through Networth IQ and comparing my pathetic networth against others. It appears that a lot of people have high net worth. Good for them.

Not sure how they manage to accumulate so much money. But then I realized that a lot of them live in places that have a low cost of living. They also have more than 10K in cash. I wonder if the cash came first or later? The CashAholic in me wants to know.

Do you build up a cash pile first or does the cash come out of your business endeavors?

Brunch this Sunday

2010-11-14T07:28:00.000-08:00

I am meeting a friend for a decadent brunch. That's one of the things one should do on a weekend. It's great to have the money but it's important to be able to celebrate it's existence. Brunch is a wonderful way to do it. It's also a good way to catch up with friends and celebrate.

Far more enterprising people than me can use brunch as a time to network with colleagues and make them new friends.

Random Check

2010-11-13T16:56:00.000-08:00

I received a random check this week for $50. Not sure what I did to get it or why I got it but I was happy to get the check. The CashAholic in me is happy to get $ in the mail. I wish this sort of thing would happen more often.

I checked my Net Worth and I am still under $100K. It's an unjust world, where people who pay their bills and try and accumulate cash can't get ahead.

Making a few extra bucks

2010-11-13T16:52:00.000-08:00

I picked up a french fry focus group and made $35. Not a lot of money but it's not bad to make the odd amount from time to time.

While waiting for the group to start I noticed there were young people in their 20's who spoke about using their smart phones to get onto focus groups. I was impressed. I don't have a smart phone - in fact my phone has now become a dumb phone. It doesn't surf the net, it doesn't allow me to get messages from work or anywhere else. It won't even let me know when someone has called me.

I think technology and my frugal ways are beginning to dumb me down.

My Loan Finally Closed

2010-11-13T16:48:00.000-08:00

My loan finally closed and I have refinanced. Yeah. So, now I am waiting to get the money from my escrow account back. Unfortunately, I feel this is going to be a long wait again.

Well, the upside is that I can continue to pay down my mortgage but at a reduced interest rate compared to what I was paying earlier. Yeah. So, I now have an interest rate of 5%.

My Chase loan still has not closed

2010-09-27T12:32:00.000-07:00

I should have know my loan was too good to be true. It still hasn't closed after all this time. The initial mistake was made by the operating department in not rolling the costs into the loan. It would appear that one mistake led to others.

I won't bore you with the details. Suffice it to say that I still haven't refinanced - despite promises from my broker - it's going to happen this week. That was two weeks ago.

Owning an investment property

2010-09-12T11:27:00.000-07:00

I wanted an investment property and now I have one. I also have the costs that come with the property. Overall, I am glad I purchased it. However, I do feel anxious when I look at my credit card statement. It's all too easy to incur debt.

I would like to refinance but my property value has decreased. The last mortgage broker I touched base with suggested I pay off the 2nd loan which is 30K, and then refinance. However, this is easier said than done. The good part is that I have put in the blocks for future financial success.

I now own a house and an investment property. If there is inflation I will benefit with my hard assets. If there isn't inflation ... well, I still have to live somewhere and so do my tenants.

Refinancing this Wednesday

2010-09-12T11:18:00.000-07:00

I will refinance my home mortgage this Wednesday at 5%. I was quite delighted about this tidbit until my friend told me he refinanced at 4.65%. Sometimes a little information is not a good thing.

However, despite all of this ... I'm still glad to get 5%. I still save around $300 a month, so it works out for me. I would have preferred the 4.65% rate ... but all things considered I lucked out. I had only a 5% down payment, and my property value decreased by 10%. So to be able to refinance is pretty amazing.

The Karma of Refinancing

2010-08-19T22:35:00.000-07:00

I suddenly realized my new loan will be refinanced at 5%, which matches my downpayment - which was also 5%. If this isn't financial destiny I don't know what is.

My mortgage savings in turn will enable other savings in my life. My loan has been approved and all I need to do now is wait for the refinancing to occur. Who knew home ownership would have so many benefits?

Refinancing my mortgage

2010-08-13T16:08:00.000-07:00

In a bizarre twist of fate, I am refinancing my mortgage. The reason I find it so bizarre is I only put 5% down, and subsequently watched the market value of my home deteriorate. Now I can refinance under a 105% of Home Value loan. Which in my opinion is just plain weird. And coincidentally today is Friday the 13th.

So, thanks to whatever God looks after mortgages, my mortgage payment will be a bit lower going forward. I will go from my original $2650 to $2200. Which is a nice savings. My new interest rate is 5% which isn't bad ... all things coner

Purchasing 2 investment properties

2010-07-05T00:44:00.000-07:00

I am purchasing both sides of a duplex. The paperwork is signed tomorrow. I've begun the first step to affluence - owning an investment property. I am hoping it will help me at tax time. However, with my luck I will owe more in taxes. And, the nice thing about my new property purchase is that I have $200 positive cash flow. This makes a cashaholic such as myself very happy.

Love live cash. Cashaholics everywhere - use your cash to buy investment property and / or commodities that will go up like gold.

Resourceful and this economy

2010-04-06T15:35:00.000-07:00

We are still in a recession. Regardless of what pundits may say. That being said, we need to be resourceful about what we do with the money we have, the money we earn, and most importantly the money we spend.

I collected all my change which amounted to $2.15 and applied it to the principal balance on my mortgage. I feel this demonstrated resourcefulness on my part. I am also selling coupons on ebay and putting the money earned towards the principal balance on my mortgage.

The coupon are free and I sell them on ebay - which means my profit is small. However, when I think about the fact that I sell something that costs me nothing except my labor to send off ... I feel this is a great deal.

I encourage you to find ways to be resourceful. I'm sure you will outdo me.

Economy still in the dumps, rotten health care bill

2010-03-22T11:32:00.000-07:00

I think the economy is still in the doldrums. Unemployment in my home state, California, is in the double digits and home values are low (excluding exclusive beach areas). I do not see this changing in the short term.

Add to this - we now have this awful health care bill. I'm seriously considering becoming a Republican. Why should unemployed people be fined for NOT having health insurance? If you are unemployed and don't have health insurance it's because you can not afford it. If you don't have unemployment insurance they are going to fine you! OMG.

I think this is an awful bill, and can not believe the House has passed it. Talk about not helping our economy! Mr. Obama's rating has gone down with me! I'm not a political person, but I was reading about what this health care bill means ... and seriously I think it's extremely unfair.

If this is what it means to have a democratic president, I think I might become a Republican. I am flabbergasted that we passed this bill. I usually save my vitriolic comments for Republican actions but now Democrats seems to be in the running as well.

I'm shocked, horrified, and flabbergasted by the new health care bill. Which I and others hapless taxpapers will have to pay for as usual.

No more change ...

2010-03-22T11:01:00.000-07:00

I can now say in all seriousness that I no longer have any spare change - all my pennies, nickles and dimes have been added to my mortgage.

My last 14K payment for my duplex (rental property) has been postponed, until June 30, 2010. This gives me time to accumulate the additional 5K needed.

I am taking a break from my savings activities and going to Santa Barbara for a few days towards the end of the month.

2010-03-20T12:30:00.000-07:00

In a shameless effort to reduce my monumental mortgage I contributed $4.28 towards the reduction of principal. Ridiculous, but I refuse to allow change to hang around me anymore.

What's going on at my company?

2010-03-17T23:43:00.000-07:00

I checked Linkedin and noticed senior management updating their profiles. This worries me - because senior management tends to be too busy managing to bother updating their Linkedin profiles. The only reason they would do so is if they are looking to move. This leads me to think something ominous is going on.

The economy is not doing well. Most senior executives are sticking like glue to their well paid jobs. The only reason they would leave is if they are outed or anticipate being outed. To add to my suspicions executives usually come out and lie to us. The most popular being:

Everything is fine. There won't be any more layoffs.
Executive Jo the workaholic is leaving to spend more time with his family. As if.
We appreciate your hard work (translates into do more of it).

And that's the workplace. I call it the new slime. No transparency and executives climbing down from lofty perches to share "news" with us.

Steps to accumulate wealth

2010-03-17T23:17:00.000-07:00

I've come to the sad conclusion that there is no secret to accumulating wealth you just do it step by step. Some people think it's a matter of making good business decisions especially if you have a business.

Assuming you are a wage earner, the single greatest trick is coming out of college debt free. That makes a huge difference in your finances for the rest of your life. A parent or parents that help their kids this way give them a gift for the rest of their life.

Regardless if you begin saving and continue doing so ... you eventually accumulate a lot of assets, and one day you are wealthy.

$311,936 New Mortgage Balance

2010-03-13T20:23:00.000-08:00

My mortgage has balance is now down to $311,936. I took all the money I did not spend for the week and applied it to my ridiculous mortgage balance. I still owe $311,936 but I feel I made a dent in my balance - be it ever so small. I will continue doing this until my balance is gone. The advantages of banking with Chase.

Saturday's Accomplishments

2010-03-13T19:48:00.000-08:00

This Saturday I tried to spend as little money as possible. Listed below are the activities I engaged in:

Applied $44 in cash to Chase mortgage principal repayment.
Obtained six (6) coupons to Lowe's or Home Depot 10% off.
Ate lunch at an upscale Italian restaurant. I had a coupon for a free pizza. My bill was $2.74 for a soft drink, and I added a $3 tip.
Tried out a 24 Hr Fitness pass for free (g00d for 7 days).
I will end my day by watching a Netflix movie that I received in the mail.

One Penny Found

2010-03-12T16:45:00.000-08:00

Today I found a penny walking to work from the parking lot. This wasn't the dream I had for finding money. My dream invoked millions of $'s - hey it's a dream. Anyway, my preference would have been for a bill of larger denomination. What I learned is that a penny is useful, by itself.

This penny can be contributed towards my mortgage - $311, 980K at last count. And pennies add up. I think a lot of people discount the value of their small change and this in my opinion is a mistake. All the change adds up.

If you look after the pennies, they will grow into dollars. But everything grows, make sure the growth is a healthy one vs. a decadent one.

Chase Bank cheats again!

2010-03-07T16:37:00.000-08:00

http://consumerist.com/2010/03/joseph-harrison-has-shared-a.html

In the above story, Chase cheats again. I wish I could say I was surprised but I'm not. Chase told a 44 year Chase customer that he stole $6,200 from himself! No surprise there. I hope this guy sues Chase.

I can only guess that Chase does not care about how it damages it's brand and reputation. There are so many people who have Chase horror stories - it's ceased to be funny. I do like the convenience of Chase locations but it's overshadowed by its horrible customer service and callous behavior to senior citizens.

Looking into Credit Unions. Not as snazzy but oh so safe. Also, the customer service people seem very nice.

Mortgage is now $311,980K

2010-03-07T08:49:00.000-08:00

Due to my chipping away at my mortgage it is now down to $311,980K. I have realized it is more efficient to put 1K payments toward my mortgage vs. the few dollars I've put in so far. However, I also realize that reducing a mortgage has to start somewhere.

My goal is to have my mortgage paid of by 2020. That gives me 10 years. If I don't make an additional payments toward my principal I am stuck with my mortgage for 29 more years. And only $300 of my $2650 mortgage payment is applied to my principal. The $1700 is given to Chase, $400 goes toward my property tax, and $200 to escrow insurance.

In my opinion there is something wrong with these numbers.

Chase does very well off my mortgage. However, I don't do well.

Every month when I get my mortgage statement from Chase I also get information on refinancing. I think Chase thinks homeowners are very stupid. When you refinance with Chase - Chase will charge you all the usual garbage fees associated with refinancing. So ... why bother? If you need to refinance - shop around and find the best rate. Then negotiate for everything and try and pay as few fees as possible.

My favorite is when you refinance and they still need to do a title check? How bizarre is that?

Leaking windows fixed for $50

2010-03-06T16:33:00.000-08:00

I found someone to fix my leaking windows for $50. My neighbor generously offered to fix it for $125. The morale of this story is that you can spend a lot or little to fix something, but the important thing is to fix the right thing.

Repair people will gip you without a qualm. Always make sure they are fixing the right thing. My generous neighbor - the one willing to help me with my repair was going to charge $125 - but he was going to do more work i.e. taking my window off. Now I know how to fix my window ... I can do it myself every year. It seems the window fix will not last indefinitely.

You pay a lot for knowledge. That's what I have learned. It's not the skill of the person who fixes something but rather his knowledge, what to do, when to do it, and what products to use. From a home owner's viewpoint - home repair sucks big time.

Duplex Purchase

2010-03-04T22:03:00.000-08:00

I am in the process of buying a duplex. I'm waiting to see how the transaction plays out. I have already gotten calls in regard to the duplex's plumbing problems. Since I am the future owner I am being allowed the benefit of seeing what it's like to handle problems.

I have one word for them - home warranty. More money upfront but fewer problems late on especially for out of state landlords. The warranty is $1100, plus $60 for every service call. This is something I can live with.

The power of coins ...

2010-03-04T21:58:00.001-08:00

I think the power of coins is great. You start with a small amount - roll them up, and in my case apply them toward my $312K mortgage payment. I realize I have gone overboard on this, but I also know this must be very annoying for Chase my mortgage company. Imagine their reaction at getting $2 applied to $312K mortgage!

I can't help but laugh. At the same time I think this is a good thing. I am accomplishing two goals. #1 I am annoying Chase. #2 I am paying off my mortgage. I will continue to chip away at it until it is sold to another company.

As much as I dislike Chase as a bank, I must admit there is a gluttonous satisfaction in applying my spare change to my mortgage at any Chase location. It is satisfying to make a dent or in my case a prick into my Chase mortgage.

What can I do tomorrow to reduce my mortgage?

2010-03-03T21:55:00.000-08:00

It occurs to me that I can consolidate the coins in my piggy band and use that amount to chip away at my mortgage. I refuse to pay $2,648 every month for 29 more years. Enough is enough. Other people have 15 year mortgages. I think I could as well.

Of the $2,648 I pay Chase every month only $300 is applied to my mortgage. The rest is used to pay interest to Chase of course ... AND my tax payment. If only I could refinance. At 5% my mortgage would be $1,500 a month and even with escrow - $2K max! How delightful that would be!

But as I have realized nothing is free. Were I to refinance - my mortgage would be for 30 years ... so another 30 yrs to pay off my mortgage ... Now I only have 29 more years to go. How depressing. In addition, my mortgage would be higher because of the fees that were added to it. I don't know how people stand living with that type of debt.

In a way I think it's a good thing my interest rate is high - I am motivated to pay it off. My loan is only $312K so far. Not bad. Next payment will bring me down to 311.7K. I would like to get my mortgage into the $299 range.

To facilitate this I entered a contest. First prize is $15K to help pay down your mortgage. I kid you now. I found this at entry form in a Rite Aid circular. Wish me luck. This cashaholic tries to pay off a mortgage debt.

$13 reduced from $312K mortgage

2010-03-02T23:42:00.000-08:00

Pathetic thought it is - I reduced my $312K mortgage by $13. It's 4% of my total monthly payment of $300. I think by constantly chipping away at my mortgage I will reduce it eventually.

To payoff a mortgage you have to start somewhere, otherwise it will take you 30 years to pay it off - which I think is ridiculous. I refuse to spend 29 more years of my life paying off my mortgage. I was delighted to get the mortgage - but I would rather pay if off sooner vs. later.

Paying off my mortgate

2010-03-01T21:38:00.000-08:00

I have decided to work on paying off my mortgage. My mortgage is currently $312K, and it's at 6.25%. So ... I think any additional money I put toward my mortgage earns me an instant 6.25%. Money I don't have to pay off in 29 years.

Ridiculous! That I am stuck with a 6.25% mortgage for 29 years. I am going to shave some of those years off! To make matters worse my mortgage is with Chase. This company has some of the worst customer service I've ever experienced.

Seriously, Chase shouldn't bother trying to win new customers. They just end up losing them due to their awful service. However, on a positive note ... my out of state checks now clear in 1 day. This is good news!

Long story short, I can pay my mortgage at any Chase location. So, what I will do going forward is pay minuscule amounts toward my mortgage. If I have saved a few bucks one day I will put that toward my principal which is currently $312K. Regrettably each mortgage payment pays only $300 toward my mortgage!

So, I am going to annoy Chase by making minuscule payments toward my mortgage until it's paid off. Let the payoff begin!

New bathroom completed today!

2010-02-22T13:04:00.000-08:00

My new bathroom is completed today. Thank goodness. It was 2K more than I expected it to be - so I am very broke these days. But I am glad to have this project finally finished.

I paid the contractor extra because he was very good and made sure he and his colleague did an excellent job on my bathroom. The wall and shower are tiled. And everything that's not tiled is painted a bright yellowish cream color.

Somehow the bathroom works. I am very impressed by how well it has been done so far. When I go home tonight I will view my finished bathroom. I look forward to seeing how it looks. I need to call for an inspection tomorrow.

Hopefully, everything is set at that point.

I suck at home improvement

2010-02-15T19:47:00.000-08:00

I really suck at home improvement. I seriously underestimated how much home improvements aka (new bathroom) would cost. I have overspent by $1K and my home improvements are not finished yet!

All the things people tell you - horror stories are true. So far, I have a window. Nothing else. No shower, toilet or pedestal sink has been put in.

Home improvement sucks. It's expensive in time and money. Cashaholics avoid this if possible.

Found a contractor to finish my bathroom

2010-01-17T14:37:00.000-08:00

I found a contractor to finish my bathroom for the cost of labor. It's about $2000 which isn't bad. My bathroom has ended up being more expensive than I expected it to be.

However, I am glad I began the project and will be gladder when the bathroom is finally done. I am still waiting for this to happen.

2009 Federal Taxes completed

2010-01-11T11:25:00.001-08:00

My 2009 Federal Taxes are done! I am quite amazed by how efficient I was. Of course the IRS won't except e-file until Jan 17, 2010, but I dont' mind the time lag. I can wait.

I hope to get my pittance of a refund in Feb 2010. Even a pittance is welcome these days.