It's almost the end of November and I can't find any official information about what the Roth IRA contribution limit will be for 2009. I've seen some sites saying that it's staying at $5,000 with no official information backing up where they got their info from. I find this suspect because that would mean no adjustment for inflation. After a year like this one, you'd think that would be factored in.
Since the only thing I can find from the government is for 2008, I'm just going to estimate that the contribution limit will be $6,000. If it's less then that, it's good news for my budget today. If it's more than that, well, tough cookies for me, because $6k is the most I can part with.
Meeting the parents
This holiday season will be interesting, to say the very least. While we're working around my father's cancer diagnosis, life is going on. BF will be into to celebrate Thanksgiving with my folks and I. Then the following week he'll drive back to pick me up to head on down to Ohio to stay with him for the rest of the month. During that time I'll meet his family. One weekend BF's parents will visit us at his home, then the following weekend we go to theirs to spend Christmas (my parent's will be spending two weeks in Jamaica, so you can stop looking at me sideways). I'll also be meeting his brother, sister-in-law, and how many bajillion nieces and nephews he has.
While my parents and I have stopped exchanging gifts years ago, I respect that we're the exception. BF and I agreed that I wouldn't have to get a gift for his brother, wife, and their kids. So that just leaves the parents. At first I was going to make them Jamaican rum punch. You know, from the heart, unique, and all that jazz. However it's pretty costly to make. Not only that, I can't just make a bottle for just his parents. MY parents will know and want everybody around the block to have a bottle. Also, it would kill me if I couldn't make enough to share with my close friends as well. It's something really special to me as the recipe has been handed down from my father (although both he and I will admit that I've perfected it!). Bottom line it would make a great gift. However I just don't have the cash flow to make it happen.
So enter plan b: gift cards to Red Robin. You're looking at me sideways again but hear me out! BF's dad L.O.V.E.S. this place, so it would be a hit. My only question is what's a dollar amount to give that doesn't seem cheap but not something that would throw my budget out of wack? I'm trying to decide between $25 or $50.
So anyway, there's another dilemma to be added to that budget I owe you...
While my parents and I have stopped exchanging gifts years ago, I respect that we're the exception. BF and I agreed that I wouldn't have to get a gift for his brother, wife, and their kids. So that just leaves the parents. At first I was going to make them Jamaican rum punch. You know, from the heart, unique, and all that jazz. However it's pretty costly to make. Not only that, I can't just make a bottle for just his parents. MY parents will know and want everybody around the block to have a bottle. Also, it would kill me if I couldn't make enough to share with my close friends as well. It's something really special to me as the recipe has been handed down from my father (although both he and I will admit that I've perfected it!). Bottom line it would make a great gift. However I just don't have the cash flow to make it happen.
So enter plan b: gift cards to Red Robin. You're looking at me sideways again but hear me out! BF's dad L.O.V.E.S. this place, so it would be a hit. My only question is what's a dollar amount to give that doesn't seem cheap but not something that would throw my budget out of wack? I'm trying to decide between $25 or $50.
So anyway, there's another dilemma to be added to that budget I owe you...
$200 eh?
$217 when you include shipping.
That's how much money I dropped on Sunday ordering hair care products. Now hold up, hold up! There's something you have to understand. A black woman's hair is like [strike]minor[/strike] major plastic surgery. We take that hella serious. Since my hair is not chemically straightened (I hesitate to say that it's "natural" because it's colored) it requires some thoughtful attention and upkeep. Over the past year I've tried using less-expensive options, even homemade concoctions. However none of it really worked for my hair. So I decided to just go ahead and get a product that works. Not only that, all the products I got for that $200 will last me clear into the spring. While I have the money to pay for it, making that somewhat impulse buy puts me in a bit of a cash-flow crunch. Bills will be paid easily, just some fun things I wanted to do for the holidays will be cut from the budget.
The sacrifices one makes for their hair.
Speaking of budgets, I still owe you guys one for November...
That's how much money I dropped on Sunday ordering hair care products. Now hold up, hold up! There's something you have to understand. A black woman's hair is like [strike]minor[/strike] major plastic surgery. We take that hella serious. Since my hair is not chemically straightened (I hesitate to say that it's "natural" because it's colored) it requires some thoughtful attention and upkeep. Over the past year I've tried using less-expensive options, even homemade concoctions. However none of it really worked for my hair. So I decided to just go ahead and get a product that works. Not only that, all the products I got for that $200 will last me clear into the spring. While I have the money to pay for it, making that somewhat impulse buy puts me in a bit of a cash-flow crunch. Bills will be paid easily, just some fun things I wanted to do for the holidays will be cut from the budget.
The sacrifices one makes for their hair.
Speaking of budgets, I still owe you guys one for November...
Wow America
I honestly didn't think it would happen. I really didn't think this country would let a black man become president. But I guess we've had enough. We looked around, reflected on the last eight years, saw our choices, and decided that it's time to take a different approach. I don't believe Obama is a savior. He's not the blood of the lamb (that would be Beyonce, thank you very much). To me, Obama represents an agent of pragmatic change, thoughtful progress. He can give us the tools, but we have to use them. We have to do the work. With that in mind, I'm interested to see who Obama will choose for his cabinet, how they will approach the problems that we're currently facing, and what role we the people will play in it.
Keith has a great post up about his three economic challenges to President-elect Obama that not only share what he thinks Obama should be doing, but also what we should be doing. It's gonna have to be a group effort folks.
Keith has a great post up about his three economic challenges to President-elect Obama that not only share what he thinks Obama should be doing, but also what we should be doing. It's gonna have to be a group effort folks.
Personal Finance Blogging: Political vs. Financial
How do you separate the two? Personally, I don't. I don't live in a vacuum. The laws of my town, state, and country have an impact on my financial life. For instance, I've long argued that an investment in birth control and Plan B should be part of the foundation of a single woman's financial plan. The last thing she needs is to get pregnant when she's not ready, or even worse, when she never wanted to get pregnant in the first place. Yet there are laws in some places that make access to birth control and abortions difficult, especially for the people that need them most. How, as a woman, can I ignore this? Why, as a blogger, should I?
I Voted!
Polls opened at 6:00 a.m. My dad and I were there at 5:30 a.m., which was good thing because by 5:45 a.m. the lines were getting pretty long. From official polling open to the time we left was 30 minutes. It only took that long because there were some problems with the paper ballots. I chose to try again with electronic with success, dad did a second paper ballot and it worked.
If you haven't voted already, please make sure you do! Every vote counts and you deserve to have your voice heard.
If you haven't voted already, please make sure you do! Every vote counts and you deserve to have your voice heard.
October 2008 Net Worth
My net worth took a -6.98% nose dive, however my cash (increase of 17%) and debt (100% decrease...it was only $10 :)) are quite strong. In times like these, I believe these two line items are what really matter. A huge boost ($1,100) to my cash reserves came courtesy of working at a week-long conference earlier in the month. Not only a great work experience, but made my bank account warm and fuzzy. :)
I have to confess, I have been really lax with following my budget. I've been using it more as a "suggestion" than a rule. What I've been noticing is that I'm pulling out my credit card whenever I don't have enough cash (in my checking attached to my debit card) available. I always pay it off, however I believe this is where I can get myself in a lot of trouble. And trouble is the last thing I need right now. So I'm getting back to my budget as a rule, not a suggestion. This week I'll post three things:
1. Income and expected expenses for the entire month.
2. Two smaller budgets specific to the two paychecks that I get. Each check as a different amount due to various deductions, so timing for cash flow is important.
The goal for November is to save between $1,200 to $1,600. The lower number would be the bare minimum, the higher quite a stretch, especially since it's holiday season. But we'll see.
I have to confess, I have been really lax with following my budget. I've been using it more as a "suggestion" than a rule. What I've been noticing is that I'm pulling out my credit card whenever I don't have enough cash (in my checking attached to my debit card) available. I always pay it off, however I believe this is where I can get myself in a lot of trouble. And trouble is the last thing I need right now. So I'm getting back to my budget as a rule, not a suggestion. This week I'll post three things:
1. Income and expected expenses for the entire month.
2. Two smaller budgets specific to the two paychecks that I get. Each check as a different amount due to various deductions, so timing for cash flow is important.
The goal for November is to save between $1,200 to $1,600. The lower number would be the bare minimum, the higher quite a stretch, especially since it's holiday season. But we'll see.
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