Friday, October 28, 2005

Checking In

Got a few good payments this month on the web stuff, so I was able to pay an extra $100 towards my car payment and make a $400 payment on the credit card.

I'm left in pretty good position this month because I don't have to rely on mailing my rent check so that it will get there after my next payday. (Wednesday) I have the money right now, in the account.

A unit has opened up in my building for sale. Darcy and I are looking at perhaps buying the unit and building equity for a couple of years instead of paying rent and then either selling or renting it out. We'll see what happens, the realtor hasn't even returned our calls at this point.

Thursday, October 13, 2005

Planning Ahead

One challenge that I seem to come up against is the fact I have a few different accounts out there, and it isn't always easy to access my funds across those accounts. Sure it can done, but it requires some better advanced planning on my part, which isn't always my strength when it comes to financial things.

Example. I just received a couple pretty good sized payments via PayPal. I have the PayPal debit card and sometimes use that for gasoline and groceries. It would take 2-3 days for any amount that I transfer from PayPal to appear in my checking account. Then, if I wanted to make some sort of on-line payment to a credit card, or make a payment via check to my car, it would take a few more days. Since the payment date on those items is coming up rather quickly, it takes some quick decisions on my part to make it happen. Quick decisions are not my forte.

Right now, I think I'm going to transfer a portion of these payments to my checking account, and then make a larger-than-normal payment to my credit card. (Min payment is $50, I was planning $200, now I think I'll do $400) The card is 0% APR for the next 10 months, but I'd still like to get it paid.

On the other hand, I have two savings accounts, one with ING and the other with VirtualBank. Looking through Yodlee, I've got just over $2400 in those accounts, with a purchase of about $2000 coming up. What I think I'll do with this is make the purchase with my other credit card, then transfer the money I need into my checking account, and then pay off the card before there is any payment or interest due.

The bad news will be that my savings will be just about depleted. The good news is that I will have saved up for a major purchase and paid cash for it. Rather painlessly, too.

My other project...with the local FSN station...appears to be coming together. My contact there has said that they are building the page and logo now, and I should be posting there soon. Once that money starts coming in, I'm going to bulk up my savings and investments a little more. I think I'm going to do a minimum of $100 to the Sharebuilder account monthly, (Up from the $50 now) and perhaps double my other savings from $200 a month to $400 month. This should still give me a couple hundred dollars more per month for my bills and expenses, plus allow me to save for some more planned expenses coming up in the spring of next year.

Sounds easier to make decisions when I write them out in this fashion.

I'd like to also thank the two sponsors who have helped out the site and my financials by purchasing a blogad in the right hand column. Give them a visit...

Monday, October 03, 2005

More income?

It appears that my wish to increase my income another $1000 a month has gotten a boost.

It's not totally passive income, but it is money that I'm not going to have to work really really hard to get.

The local Fox Sports News cable station has approached me about doing updates on their website about the local NBA franchise. I would do updates after each game with links to stories in the local papers, as well as a weekly column. For this, they have proposed $200 per week. That means $800 a month!

I'm hesitant to post about it, as I was supposed to do something similar for them last season and it fell through on me. They were very apologetic this time and have eliminated the "middle man" company they were using for last season.

I would be getting paid monthly, which would make it easy to distribute that income among the different accounts I'll be putting it in.

Let's hope it works out!