Paper or Plastic?

I was doing pretty well on the cash envelope system for 2 or so months so I decided to take a month and see if I could budget just using the debit card.  The main reason for this is that I feel slightly uncomfortable carrying a giant wad of cash around and also feel slightly uncomfortable leaving it at home too.  But it’s also because I use a credit union that’s nearest branch is a pretty decent drive away.  I mean, there are ATMs everywhere, but ATMs can’t give the change I need to separate everything into envelopes.  So I thought I’d experiment for a few weeks and see.

The first two weeks were an experience for sure.  What I discovered is that, no,  debit card money is easier to spend than paper money and infinitely more difficult (for me) to track in real time.  It’s way easier to glance into my wallet before entering Trader Joe’s than to sit in my car looking on my phone to see my bank account and adding/subtracting the scattered deductions from my bank account.  So I went a little over the first two weeks.  The last two weeks I decided to try a hybrid where half of my money was paper and the other was plastic.  This might have worked but since I got sick and had to dip into additional funds for doctor bills, prescriptions, over the counter stuff, Gatorade, etc, I couldn’t really test it out fully.

Basically, I learned that I need to just pull out the cash.  I’ll likely be adding a bank (I plan on keeping my current credit union right now simply because I like them and it’s super simple in the age of direct deposit to manage a savings account online) once I move and I’ll make sure that this time I pick somewhere with a ton of branches.  

Speaking of moving, I’m still job searching.  I have a lot, like, upwards of 300, inquiries out there and I’m basically planning to take the first serious offer that comes my way.  I’ve been glancing at apartments, mostly in the DFW area, and it’s amazing what I can get for my money out there.  For what I’m paying for a basement studio without a bathtub or dishwasher in a nice but older neighborhood in Minneapolis, I can get a 800+ square luxury apartment in a super fancy area with up to two bedrooms, two full baths, in unit full size washer and dryer, and a dishwasher.  They also throw in things like stainless steel appliances and granite counter-tops but I don’t really care about those so much.  I just want a light, bright, spacious place in a nice area.  And a vent hood over the stove.  And windows that open.  You don’t realize how much it matters until it’s gone.

Ch-ch-ch-changes...

It’s amazing how much and often I make major changes to my life.  I recently posted about changing my financial goal from buying a house as soon as possible to putting myself on a fast track to paying off all my debt, which are mostly student loans.  Well, now that script is being flipped again!

When I first started this blog I mentioned how a family member I was close to had recently passed away.  It happened unexpectedly and I had to scramble to get back to my hometown at the last minute during a holiday weekend.  I couldn’t get a flight for less than a couple thousand dollars and ended up having to drive for two days each way there and back.  Not to mention the scary motel I had to stay at the first night because the holiday weekend I was traveling over caused a spike in hotel prices and I couldn’t afford anything nicer.  (Although, because of this experience I learned how to bid online for a nice hotel room that was still cheaper than the gross motel room for the return trip.)  Well, during that trip pretty much every family member, including the parent of the deceased, stressed the importance of family and being nearby.  

Just say no...to Hepatitis

 Well, I’ve been stewing on that guilt trip (I’m a super sensitive only child, I take everything to heart!) for about 6 months now.  Then, late last month and early this month, my grandmother started having some health scares.  She has a few medical conditions that are pretty common in elderly people but she doesn’t always take care of herself as well as she should and it ended up with her hospitalized a few times for a possible stroke.  She’s started to have some memory problems that we’re not sure whether or not they are related to her recent exacerbations, just part of aging, or are some warning signs for dementia.  She’s made it clear that she wants to stay in her home as long as possible.  I mentioned that maybe she should move in with me up in the tundra and she has refused.  Actually, she’s refused to even visit to see if she likes it. 

There is family nearby to take care of her but, to be honest, they don’t really have the means.  And I’m not necessarily talking money.  The benefits of my career field typically include very generous PTO with options for longer leaves if needed without putting my position in jeopardy whereas my other family members work in fields where they just don’t get paid if they have to take off work.  However, if I can’t to where she lives quickly in an emergency, those benefits aren’t going to end up doing me a ton of good. 

So after a lot of soul searching, I’ve decided to open myself up to the idea of relocation.  I’ve already had the conversation with my boss that I’m looking and I’m working on training my coworkers to take over bits and pieces of my job after I leave so they can train my replacement.  (Please note:  I don’t necessarily recommend this in all situations.  My boss is super supportive and currently in a similar family situation that we’ve personally discussed before so I knew he wouldn’t walk me out of the building when I broke it to him.)  

I don’t have a definitive date of when I’ll be leaving but my goal date is to have something by March.  I’m pretty torn about it to be honest.  I love my current position.  However, while Minnesota has been very good to me professionally, it hasn’t been great for my personal life.  Not to mention this has to be one of the most beautiful places on earth.  I still won’t miss being frozen for 6 months of the year though.

Actually something I could see here

So, where am I moving?  I’ve basically narrowed my options to mostly the Gulf Coast and a few of its neighboring states.  Basically, I plan on living somewhere that gets hurricanes.  I have a lot of resumes out right now and where I get a position similar in salary and benefits to the one I have now will determine where I end up.  If I was a betting woman I’d say I’ll probably end up at one of the major Texan cities.  While any of places I’m looking at will still put me at under an 8 hour drive to get to my hometown, I’m really hoping for Dallas.  Mostly so I can say that I live in the Big D, visit Southfork Ranch on the regular, and have custom car horn that plays Deep in the Heart of Texas installed.

All I need are shoulder pads

What changes am I making to my financials right now?  Well, I’m back to paying minimums on all my recurrent debt.  Everything else is going into a savings account for moving expenses and any short period that I’m out of a job.  Fortunately, the rental markets in the places I’m looking at are significantly more affordable and less competitive than Minneapolis so I’ll probably actually save some money.  Also, living expenses will be lower as well so that should help ease some of my growing pains and help me re-establish my debt payoff plan fairly quickly. 

Have you ever made a major decision in a relatively quick amount of time?  If so, how did it make you feel?  Until I find a job and get some concrete plans, I’m on the verge of a nervous breakdown.

Do you have any suggestions where I should look/not look to live and/or work?  A friend really wants me to move to Austin and it’s just not happening.  Minneapolis has more bicycling hippies than I can handle and Austin is their motherland. 

Financial Friday

 It’s been one week since Operation: Stop Spending Money began and so far I think it has gone well.  Especially for the first week ever on a true zero balance budget.  I separated all of my envelopes by how my paychecks fall.  Since I get paid biweekly, I’ll be refilling every paycheck approximately half of my monthly budget for those items.  My monthly budget is:

·         Home (groceries/house supplies/basic toiletries/paper products/cat food/any food related purchase, including restaurants): $300/month ($150/paycheck)

·         Personal (mostly for clothes, cosmetics, and any entertainment expenses):  $100/month ($50/paycheck)

·         Gas:  $90/month ($45/paycheck)

Things like rent, car insurance, cell phone bill, etc., all get paid directly out of my bank account.  I tried to give myself a reasonable amount of money so that I wouldn’t just get frustrated and quit.  It’s not quite perfect yet, but I’m not 100% sure if that’s because I didn’t give myself enough of an allowance in personal or home.  When I replenish my envelope funds next Friday (payday), I’ll probably keep the amounts the same and see how it goes.  I’m really hoping that I can get by on what money I have in envelopes through next week but I won’t be too upset if I have to “borrow” $40 from my bank account to get me through just so I can still enjoy the holiday season, especially since I’m not traveling home.

Right now I have $4 left in the home budget (mostly due to an unexpected rodent problem due to a neighbor who is less than immaculate) and two or three restaurant splurges I should have avoided (once I left my lunch for work on the counter at my house, which not only caused me to have to buy lunch but also ruined a frozen dinner.  This left me one meal short for my week.).  I have $20 left in my personal budget and $20 left in my gas budget.  I did go off completely off plan once due to a necessary midday wardrobe malfunction that lead to me putting $30 on a credit card.  (Full disclosure:  I still have money in my checking account but all of my bills for the first part of the month haven’t been deducted yet and I wanted a bit of a buffer zone so the money I have sitting in my savings account didn’t get moved over to checking.  Plus, my interest rate on that card is pretty low so it’ll only end up costing me around 50 cents to get it taken care of next month.)

In theory, any money that doesn’t get spent in the home budgets roll over into my travel fund.  The travel fund doesn’t really get funded like a regular envelope though.  It’s just any extra, unexpected income that I might get.  For example, I just upgraded my cell phone and may be selling my old one on Craigslist or eBay.  Since that’s not money that I banked on coming in to pay bills or direct to another purpose, that money would go into the travel fund.  The gas fund will keep rolling over in case emergency or unexpected travel by car is needed (this would have been great to have earlier in the year for a death in the family).  And the personal money left at the end of the month will roll over month to month into a clothing allowance envelope because clothes, especially winter clothes, aren’t cheap, wear out, and require replacement/dry cleaning/mending/alteration, etc.  (If I had had this earlier this week then I wouldn’t have put any money on my credit card!!)

On Monday I’ll go over some plans that I think might help in planning my  budget for the upcoming year as well as some mini goals to hit by certain dates.

Do you work off of a budget of any kind?  If so, what works for you?

What percent of your take home to you commit to household needs and groceries?  I think I’m around 11% total for all home purchases including groceries.

I Lost My Minneapolis-St. Paul Restaurant Week Virginity

Alternative title: I’m a Gluttonous Pig (and That’s Okay)

LINKS AT EVERYTHING AT THE BOTTOM OF THE PAGE

I’ve officially been in Minneapolis two full years now and, until yesterday, and never participated in Restaurant Week.  Minneapolis-St. Paul Restaurant week, for those that aren’t aware, is a quarterly occurrence where restaurants offer a limited menu for a discounted price.  Some only offer lunch, some offer dinner, and I think maybe some do brunch.  And the restaurants that participate are typically on the more expensive side.  I mean, don’t get me wrong, I’m not opposed to dropping serious coin on a fantastic meal but there’s risk in going to a place you’ve never been to before that I’m not always willing to take.  

Inside Seven

Anyway, as a chubby girl who loves food but doesn’t love cooking, that makes zero sense that I’ve missed 8 cycles of this magical event so I finally decided to participate.  After discussing options with friends, we finally decided to go to Seven.  I’ve walked by Seven so many times while out on the town but have never been inside.   While it can look intimidating at night from the street, the inside is actually really warm and welcoming while being modern.  There’s no obnoxious techno or subtle jazz playing in the background.  The tables are a distance from each other and the size and furnishings of the dining area is perfect in that you can have a normal volume conversation with the people at your table without it echoing or bothering your neighbors.  

Seven at night

Seven Roll

Seven is somewhat unique in that there are two separate menus.  One is traditional steakhouse and the other is that of a classic sushi bar.  We started with the Seven roll and escargot.  These were full price menu items that we wanted to try in addition to the limited menu provided during Restaurant Week.  And they were worth it.  The Seven roll was the perfect combination of seafood, fish, and rice.  The roll held together using a fork or chop sticks (I’m from Louisiana, I don’t do chop sticks).  The escargot was tricky because, well, I’m déclassé and couldn’t manage the tongs.  Finally the maître d’ came over and told me that it was A-OK to hold them in my hand and dig in with a toothpick.  After that, it was amazing.  They were buttery and soft and garlicky and paired well with the bread we were given.  I ordered the Villa Maria Sauvignon Blanc for this course.  It paired very well and, especially since I only allowed myself one glass, I was happy with my choice.

Escargot

That’s right, give me the meat juice!

Next we ordered the Waldorf salad.  This is a salad and tasted like a salad.  Basically, we ate the blue cheese and then moved on.  We both ordered the filet mignon as an entrée.  Of course, we did.  I got medium rare because I’m a cave-woman and my buddy got it medium well.  We both enjoyed it.  It was well seasoned and juicy and the meat was definitely the jewel of the meal.  The mashed potatoes were okay but basically served as a conduit to get meat juice into my mouth.  The asparagus was asparagus and was fine.  I’m not a big fan of vegetables so, while I ate it, it could have been left off for all I cared.

The next and final course was dessert.  We debated over the blueberry bread pudding or the brownie but both settled on the brownie.  My friend couldn’t finish hers.   I powered through because I’m a professional.  I’m glad that I did because this was the best brownie I’ve ever had.  It was warm and gooey with the perfect amount of melting vanilla ice cream on top.  It was garnished with a slice of strawberry.  I ate it all.  I would have ate my friend’s if I had less self-respect.

Who am I kidding? It's because I was too lethargic to reach over the table.

While the food was primo, I left talking about the service.  I’ve never had better service in my entire life.  Everything was timed excellently.  As someone who worked in restaurants off and on through high school and college, I know all about the disconnect that can exist between the front of house and kitchen.  I don’t know what sort of voodoo is happening at Seven but everything was seamless.  The wait staff had personality, gave honest feedback, and was more than attentive without being too present.   

My only complaint is that our reservations were earlier than valet started so I ended up spending $18 on parking.  The fact that that didn’t ruin my night (I NEVER PAY FOR PARKING) is a testament to how amazing this experience was.  Honestly, Restaurant Week really works out for restaurants too because now I’m definitely going back here.  When family and friends visit, this is where I’ll be taking them.  When I have a special occasion meal, this is where I’ll be suggesting. 

http://mspmag.com/Contests-And-Promotions/Restaurant-Week/

http://mspmag.com/Eat-And-Drink/Find-Restaurants/Seven/

http://7mpls.net/

http://7mpls.net/index.php/blog