Day 1 - The Plan

So, as I was saying yesterday, I discovered a lot of financial blogs that I enjoyed a lot and paid off my credit cards and car debt and all that jazz. Then I got depressed. I had several thousand dollars of student loan debt and a crappy salary and I was sick of being deprived, working in a cubicle and dealing with my life in general. I'm still all of those thing, btw. So, instead of paying off debt or working to be better, I gave up. I  started spending my money on visiting people and new places and just ignored the happy debt that seems to be mounting. Now, don't get me wrong, it is fun. I like seeing friends and visiting new places and doing new things. It's awesome. It's just that I realized this week that I could do more of those things if I had more money. The majority of my money right now goes to pay other people, which is completely ridiculous. Or save for retirement, which is also silly because it's unlikely that's going to happen. The getting old. Not retiring. I hope to retire sooner that I get old because I'd like to actually enjoy my free time. And the best way to do that is to pay my debts off sooner.

That brings us to the plan. As I said, I love Mr. Money Mustache and would love to be way more logical in the way I approach debt, but... Not sure that's going to happen. So, I'm going to turn to what I think is financial planning for dummies: The Dave Ramsey Method. The truth about this is that it's not great. Paying off the smallest debt with the lowest interest is definitely not the most efficient or fastest way to do anything, BUT it's better than nothing, which is what most people do. Also, his hatred of credit cards is ridiculous, unless, again, you're an idiot with low self-control. If you are, then yeah, you probably shouldn't have a credit card. So... I'm going to follow a modified version of the Baby Steps, with some advice from MMM. This is primarily because I have SOME self-control, but I also know myself well enough to realize that I'll get really depressed if I do one or the other. I was doing Dave Ramsey before, which was fine, but the truth is that it didn't make enough of a dent. I paid off debts that had very very low payments associated with them, so even though they were gone, that 43 cents I got extra every month was not enough to motivate me to be better.


So, here's the idea. I'm going to look at my debts and pay off the ones with the highest ROI first. And the ones that will give me that high first. So, first things first, gotta figure out the payments and all that. Thank goodness there's a handy little chart available at http://www.vertex42.com/Calculators/debt-reduction-calculator.html. It's an Excel table that calculates all sorts of nifty things for you.

	Creditor Information Table

	Creditor Information Table
Row	Creditor	Balance	Rate	Payment	Custom	Interest-only
1	Card #1	1,516.05	0.00%	25.00		0.00
2	Car	-	0.00%	-		0.00
3	Student Loan #1	2,326.75	1.86%	10.27		3.61
4	Student Loan #2	2,935.17	1.86%	12.96		4.55
5	Student Loan #3	7,893.80	6.30%	34.02		41.45
6	Student Loan #4	5,077.80	6.30%	21.88		26.66
7	Student Loan #5	4,680.58	6.30%	20.17		24.58
8	Student Loan #6	1,500.08	1.86%	7.39		2.33
9	Student Loan #7	8,542.17	6.55%	36.84		46.63
10	Student Loan #8	13,883.76	6.55%	59.83		75.79
11	Student Loan #10	7,601.21	6.55%	32.76		41.49
12	Student Loan	7,308.65	5.50%	98.00		33.50
13	Student Loan #9	8,557.23	6.55%	36.90		46.71
14						0.00
	Total:	71,823.25	Total:	396.02

So, according to the debt snowball (lowest balance first), I'd end up paying around $19,000 in interest and be done in May 2025 if I paid a total of $500 towards my debts each month. (Yes, I have other debts, but they're ongoing - insurance, mortgage, etc. I'm only listing things I can pay off for real here). The debt avalanche (highest interest first) would have me pay $15,000ish in interest and be done is 2024. That's vaguely better, but still not great... So...

***Side note, I probably shouldn't list that credit card on here. ***

I'm going to do a custom thing to determine how to pay it off, trying to pay off the ones that will free up the most money first, then moving to the next ones. As you can see, some of those aren't even getting paid the minimum interest, but I suspect that'll change as soon as they're done recalculating my minimums or something. 

For me, the biggest thing is probably maximizing my current earnings. I have some extra money, but an extra $200 a month could be something like $10k in interest savings. Also, no way am I taking 10 years to pay this off. That's ridiculous. I intend to be debt free by January 22, 2016. Don't know how yet, but I'm going to work on it. 

So, first things first:
- Dave Ramsey and Man vs. Debt recommendations: Sell your stuff. I'm also really fond of the Richest Man in Babylon, so I'll also be saving 10% of my income just because. So, this week (I'm having this run from Wednesday to Wednesday), I'm aiming to sell the stuff in my basement. It's been there for 2 years, so I'm clearly not using any of it. Except for my books. God help anyone who touches my books. Unless I leave the state, in which case, fine. >.>
- Optimize my income. This is a Ramit Sethi thing, which I think is often overlooked by most financial gurus. I like his stuff, but it comes with the unfortunate downside of him wanting to be paid a lot of money for his courses. I get that it's probably a great investment, blah blah blah, but I'm not in a position where paying someone 3 grand is feasible. Even if it does get a 100k job. Also, buried in his site, he has stuff like not everyone can earn 100k and explains that it's for top performers. I'm not sure I'm a top performer and unless he has some analysis out there saying that I can earn that, it may not be worth my money right now. What IS worth my money is taking the patent bar. If nothing else, I can write patents. I mean, I studied them. I really want to do copyrights and trademarks, but patents are also amusing. So, those are my things. And there may be other ways to make more money...

Money and Debts

If you ask people I know what my main characteristic is, you'd likely get an answer somewhere along the lines of "likes money". I'd say that it's inaccurate, except it's really accurate. I have other things I enjoy, of course, but money is my passion. I like reading about it, talking about, thinking about it, etc. Which makes for some uncomfortable conversations. 

When I worked in surveys, I was once told that Americans would rather discuss their sex lives than how much they make. From conversations with friends, I'm starting to believe it's true. Nobody will ever admit to how much they make, except for a select few people that I consider close friends. Now, I'm not sure if they tell me because they also consider me a close friend or if I'm more likely to be friends with people who like to discuss money, but whatever. 

*** This would be a good time to go off on a tangent and whine about how I don't really understand the bonds of friendship and how I'd like my friends to like me more, but it's hard to make someone like you more if they won't tell you how much they like you now and why is it so difficult to quantify liking because I do it all the time... Friends have levels: people you don't have to schedule anything with because whatever will be good, even if it ends up being lying on a couch talking about music, dates, or terrorizing a Walmart after midnight; people you know well enough to wear minimal clothing and  be yourself around; people who are friendly enough that you wouldn't mind spending 4-5 hours around; people who need a set activity; brunch friends, etc. Yes. I think about this a lot. Oddly enough, most people I've dated don't fall super high on this spectrum. I don't think I've ever dated someone that I felt comfortable enough to not have scheduled activities or just be myself around. Maybe that tells me something about my process for choosing romantic interests versus friends. I'm WAY pickier about friends. ANYWAY. Not going off on that tangent. Clearly. But seriously, people. LIKE ME. Not everyone. Just the people I consider to be friends. Which is not super useful because I don't think anyone reads this blog, so....

***

So, where was I? Definitely not on a tangent that is completely irrelevant to everything to do with money. Fine. Money and relationships. Those are my things. Not necessarily romantic relationships. I'm an Aquarius after all. 

Okay, so I went to law school. And though I had scholarships and stuff through my undergrad and graduate careers, my parents were essentially completely broke when I was in college, so I didn't actually get anything from them. I'd also never had a job and spent most of my time pursuing d***holes jerks, so it's not terribly surprising that I graduated from school with a lot of student loans. I've had some trouble finding a job that pays anything close to what I'd need to pay off my loans (according to the federal government), so I've been in Income Based Repayment since I graduated. I have a tendency to not be great with money, because I spend when I'm sad. Which is frequently (especially when I'm in a relationship... Hum, I'm starting to see a correlation between things). I also had a lot of debts to pay off from my first relationship (let's not talk about it), so a few years ago, I started to get serious about my life and decided to change my financial picture around. 

When I first graduated, I had a 23% car loan, among other ridiculous obligations and a very vague understanding of how student loans actually worked. I'm pretty sure I was under the impression that they were free money. Here's a tidbit for anyone who's still confused. They aren't. They actually expect you to pay that back. No matter how long you spend in school, they will still be looming over you eventually. 

So, one day... I actually remember it really clearly because I was stressed out of my mind while eating the hotel's free breakfast, I saw something about a guy who had paid off his Harvard debt in just a few years and was clearly, in all ways, better than me. Now, I hate admitting that people are better than me, so the first thing I did was look him up so I could emulate his lifestyle and beat his record, then taunting him in my head. Spoiler alert... Did not happen that way. 

But anyway, as part of my reading about his debt repayment plan, I found one of my favorite websites EVER! Mr. Money Mustache (especially his early stuff). So, I've embarked on a journey to be better. And pay off my debt so I can be free to do whatever jobs I want and pursue my other passions. Somehow... Relationships are probably improved by money, right? And vice versa. 

So, summary. Here's my financial picture, courtesy of Mint.com. 

Student Loans: $70,893.55

Credit card (0% - I use it for springy debt purposes and rewards. Can you say free trip to visit friends?): $2,267.00

Investments: $16,361.00. I'm not sure if I can count this because it's not like I can access it at all. It's all in accounts that I can't touch until I'm old. I'm not as daring as the NMHD guy. I like having retirement accounts. 

So, my goal is to pay off this crapton of debt, using my current salary of about $35,000 - $45,000 a year and any raises, new jobs, what-nots I may get. 

In Which I Post Because I'm Not a Great Person

I don't have anything of any real incidence to say tonight, but S posted, so I feel like I should as well. I did say that I wasn't a great person. It's fairly hard to motivate me, other than by presenting me with a competition or telling me that I'll be able to sleep more. I'm not sure S knows that this is a competition, but as of now, it totally is.
I'm kidding. It's not a competition. That would be ridiculous. Competing with a blog writer who has no idea I'm doing it would be just silly. Ha... *nervous laughter*

I work in a  mental health institution (among other things, including starting a law firm... I need to actually talk to my first potential client... Hum) and lately, that's been causing me a lot of anxiety. Not because it's hard, or even because 3 people went to the hospital during my shift last week... I don't think talking to me would cause normal people to lose their minds, so it really can only be their own fault. *more nervous laughter*.

No. The real problem is that I'm afraid I'm losing my mind here because I keep measuring myself on the same bar as they measure the SPMI population (I believe those letters stand for seriously persistently mentally ill population). For instance, my daily monologue has gone from "Did I challenge myself today? How am I moving towards my goals?" to "Did I get out of bed today? Did I crap myself? Yes and No. Great. Good to go." That makes things that I always wanted to do, but didn't because they would seem crazy suddenly seem more accepptable. For example, laughing loudly at my own internal monolgue used to be a no-no, but now, if I have my clothes on, I think that's probably okay. Among other things I now find acceptable: hiding in the bathroom when I don't want to deal
with clients, random outbursts of words I find nice-sounding, calling my husband "corporal kitten-face", and the list goes on and on.

I'm afraid for myself. Very afraid.

Life (or something like it)

I woke up this morning thinking about what I've done over the past year. I'm not really sure why rainy weather makes me want to look at my goals, but it does. I think it may also be that I was reading "God is the Answer in an attempt to get myself out of the mood that's been rearing its ugly head with the non-stop rain this week. One of the passages is about trusting God and not being dependent on other events to be happy. I mulled it around in my head a bit and realized that a lot of things have happened this year because of God's influence in my life. A lot of the things that "I've accomplished" were really only possible with His help because at the beginning of this year, I was so depressed that leaving my bed to go to class was almost impossible for me. I digress, though. I'm a lot better now and I'm happy with my life. Ish. 

Back on track then.

What I've done this year:

- Broke up with my old boyfriend and stayed friends with him. Yay!

- Made a few friends that I didn't have before.

- Started meetup groups online, where I mostly hung out with people from work. Which is fine because the people I work with are AWESOME.

- Started dating my current boyfriend, who is quite possibly the sweetest guy on the face of the planet. (I suspect him of being a serial killer, but that's really quite irrelevant.) For some odd reason, he appears to find me enthralling, which goes back to him being a serial killer, but that's fine.

- Went on several road trips: Las Vegas, Los Angeles, and Boise, to be precise. 

- Made a bucket list of things to do. That's on this list because it was quite a project. It took an entire weekend. 

- Graduated from law school. Gimpily, but still graduated.

- Became obsessed with sushi and tried several restaurants.

- Took the Idaho Bar Exam. Passed the Idaho Bar Exam.

- Started a board game group, which sounds more boring than it is. 

- Made an 8 course dinner with the help of above suspicious boyfriend. 

- Got a part-time job doing legal work, which is nice. 

Hum. That's a fairly short list, but I find it meaningful. I'm grateful for everything that's happened this year. I feel like my life is going somewhere. Slowly, maybe, as I figure stuff out. But it's definitely doing something. 

Okay, I doubt my boyfriend is a serial killer. He's more likely part-robot or something like that. 

Staying awake during a graveyard shift

So, I'm at work, struggling to stay awake during a graveyard shift. See, the thing is I have two main problems: 1. I work/go to school during the day. 2. Ever since a few years ago, when I started taking caffeine pills in a futile attempt to lose ten pounds. I've been trying to find a way to stay awake and googled the topic, but didn't really come up with a reasonable answer. So, this is what's worked for me so far.
1. Vitamin B. For some reason, the giant B complex pills really help keep me awake.
2. Drink tons of water. Cold water. I hate water, so forcing myself to drink it helps keep me awake for some reason.
3. Have enough stuff to do for the entire shift. I tend to bring games, books, homework, etc. so I have tons to keep me occupied if work is slow.
4. That being said, I typically have stuff that doesn't take very long. If I try to read the entire time, I invariably feel like falling asleep, but when I have stuff in one hour compartments, it makes me stay awake.
5. Taking a shower right before my shift also really helps.
What else? I don't know... Reading random crap... Munching on food, etc.
Well, back to work... And to get a sandwich and some chips. i've been craving potato chips for a while now.
On a totally different note, it takes really long to think when you're tired.

Intro

Hey all my loyal readers...Which probably amounts to one person right about now. I'm a 24 year old law student who works... a lot. One of my favorite jobs happens to be working at a mental hospital (one of my bachelors degrees was in Psychology).

Weirdly enough, though, I've learned more working there for peanuts than I have in any of my more serious jobs. I've decided to start posting here some of the top tips I've learned there.

This will include food recipes, cleaning tips, random interpersonal skills, etc.

Hey, I like it and if nothing else, I can use this to remember the stuff I've seen when I no longer work there.