Budgeting Again

Here we are at the end of another month.  July seemed really long this year, especially since we had our Emergency at the end of June which spilled into July.  At the lowest point, our Emergency Fund had $1.14 and our checking account had $48.  We usually have more of a cushion, but there was an issue with payroll that has since been cleared up.
Let me tell you, being that broke I was so grateful for our budget.  I looked at the bank account (gasped and swore a bit) and looked at my check book.  Within five minutes, I knew we were ok.  All our checks had cleared, and there was nothing hanging out there on the debit card waiting to clear because we use cash for all our incidental purchases (groceries, gas, clothing, etc.).  Even though we had less than I would have liked, I knew none of it would go anywhere before we got paid again.  I knew that every one of those dollars was named "sinking fund for Caleb's life insurance", which we pay at the end of the year, and would not be leaving the account.

That was our situation when we did our July budget.  Now, it's time to do August.  We have refilled our emergency fund and Caleb's life insurance fund.  Our car now has a rebuilt transmission and a new muffler.   We're free and clear to look forward to next month and all it's oncoming craziness.
Usually, we'd just adjust last month, but since August will be so completely different than previous months, we'll be starting from scratch and we'll go through it with you.
There are two forms that we use from Dave Ramsey's My Total Money Makeover site (they're in all of his books too).  The first is the Cash Flow Plan (pdf) and the second is the Allocated Spending Form (pdf).  Over the next few days we'll walk through how we do our budget so you can see how these forms work in real life.
It'll be way fun.  You're welcome.

Slogging

There's not to much to report as far as our debt paying-off progress or road trip plans.  We continue to battle the temptation to do something off budget "just this once" "because we deserve it".
At some point, I think, it gets easier.  But we aren't there yet.  Right now, we have to stay focused and do what's needed to get it done in the long run.  Every day.  Little by little.  Baby steps.

Sometimes, paying off debt really stinks.

Have you ever prayed for patience?  Whenever I do, it seems virtually guarenteed that within mere hours something will come along and test my patience to the limit, usually leaving me furious, frustrated and all together impatient.

The same thing seems to happen whenever I make a resolution of any kind, including getting serious about getting out of debt.  Not too long ago, I blogged about our Emergency Fund and how we've used it a few times, but it generally seems to cover things.

"Things" in this case does not include a rebuilt transmission, as we discovered last week.  No, a transmission generally runs about twice our emergency fund ($1897, to be exact).  So, what to do?  We were able to squeeze about $100 extra out of our budget for the month, but that still left us about $800 in the hole.  To make up the difference, Caleb's dad stepped in and provided.  In our July budget, we will be paying him back as soon as our four walls (housing, food, transportation and clothing) are covered.  Then, we'll be rebuilding our emergency fund.  Even with Caleb working an extra job and nearly doubling our normal income, we won't be able to go back to our snowball until August, unless money drops from the sky.

Financially, I know we'll be fine.  Emotionally, I'm pissed off, frustrated, tired and, in moments of weakness, ready to throw in the towel and just be defeatest about the whole thing.  It seems like every time we're ready to really get going with paying down the debt some little thing pops up and wont let us do it quite yet.  When will it end?  When does it get easier?
Well, not yet.
The good news is that we are not going through this alone.  God always knows when we're at our most exhausted (physically, emotionally, financially, etc.) and uses that exact moment to remind us of his love and provision.  In that vein, two things happened this week.  The first was a talk that Dave Ramsey gave at my uncle's church.  He sent me the link to the videos.  In that video Dave talks about how when the transmission blows (and he uses that example) is a test.  This is when the rubber meets the road.  If we weren't really committed to being debt free, it would have been really really easy to open a new credit card account to pay for it.
The second moment was at church this week.  The gospel reading was, of course, Matthew 6:19-34.  Do not be anxious. I know what you need.  I'll take care of you.  Keep doing what you're supposed to do and let me handle tomorrow.

Struggles of the process

Having $1000 stashed away just for emergencies is wonderful. You feel secure (mostly) and are able to handle most issues that arise unexpectedly. Then there are the inevitable Murphy moments that come up and clean you out completely. We got visited by one those today. Our "new" car's transmission went *barf* yesterday, and the bill from the mechanic will be upwards of $1700! That's a lot of money and the cheapest we've found.

So back to Baby Step 1. We need to get $1000 back in the bank. Rough month for this to hit. We had just mailed our first Debt Snowball payment to the Horrible Woman (SallieMae). Still...it's all part of the process of getting control of our financial future. This would be so much worse if it weren't for the initial $1000 in the bank! I've had to try to find $2000 before to fix a car, and this time I've only had to scrape together about $500--not bad, all said and done. Baby steps, baby steps, baby steps. I keep reminding myself that it's only a matter of time and things will get better.

St Tikhon's Monastery

Possibly one of the better kept "secrets" of the road is "America's Holy Mountain"--St. Tikhon's Monastery and Seminary. Actually the oldest Orthodox Monastery in the United States, unless you happen to be Orthodox, you probably aren't aware that it's even there. And how would you be? It's a good 10 miles from Scranton off of I-84 and (though well signed) is pretty remote in its setting. It is, however, an incredible site and well worth a visit (even if you aren't Orthodox).

Picture courtesy of 9stmaryrd.com

The grounds of the monastery are rather small, though there are a couple of lakes and ponds as well as well-paved roads to walk along and enjoy the quiet of the afternoon. The bookstore/cafe are open every day to the public and contain a great collection of books, icons, music, and vestments. The cafe brews Starbucks Coffee, but don't hold that against them. It's only a dollar and was well needed after leaving the house with very little coffee early in the morning! The bookstore is run by monks and seminarians, and the people are truly wonderful: easy to talk with, intelligent, and genuinely friendly.

The highlight of the trip was the museum of Orthodoxy in America containing everything from Alaskan pieces to vestments worn by St Nikolai of Ochrid and the chalice, panagia, and vestments worn by St Innocent of Alaska! It's also a treasure trove of Orthodox icons and family life collected from families of immigrants over thecourse of the last couple of centuries! A truly amazing collection of items with historic and religious significance. Tip: if you want to see the museum, best to call ahead and set up an appointment so that one of the brothers can lead you through.

It was a well-spent two hours on site, and not nearly the time we would have liked. We definitely plan to return again for a longer visit!

Skyline Drive

We started off our summer vacation with a mini-road trip.  Since we'll be spending the summer in North Carolina, we decided to take our time going down and take Skyline Drive through Northern Virginia, instead of rushing along on the interstate.  We really enjoyed the drive and are looking forward to doing it again in a few years, possibly camping along the way as well.  There was no camping this time, since trying that with a toddler and a ten-month-old, both of whom love to explore, would be extremely nerve-wracking, if not just plain stupid. But, we did drive the whole park, we stopped for a picnic lunch and wandered the visitor's center.  Most enjoyable was the drive itself: slow, scenic and generally relaxing.

However, both of our little ones hit a wall after their afternoon naps (about 3pm), after that driving was nothing but stressful for everyone.  No matter how enjoyable the morning had been, the horror of the afternoon erased it.   Two screaming, inconsolable children in the midst of rush hour traffic is enough to make us rethink our whole scheme.  This translates into an important lesson that we will use on our Great American Road trip: drive in the morning, arrive in the afternoon.

A practice round

We head south to my parents house for the summer on Monday the 13th--after school lets out, and we can get the girls into the car. We're gonna pack up and hit the road early for an excursion south through Pennsylvania and into Hagerstown, MD. We've got some fun stops along the way that we're going to be visiting!

Stop 1: St Tikhon's Monastery in South Canaan, PA for a tour of the Oldest Orthodox Monastery in the US! We're hoping to get a tour of their museum and icon repository. We'll definitely be stopping in for some coffee/food/snoop around the bookstore and pay our respects to St. Alexis of Wilkes-Barre

Photo by Yates Jarvis

Stop 2: Shenandoah National Park: Skyline Drive so that Ana can see "Oh Shendoah"  and the drive will provide lots of opportunities to stop and stretch our legs! I first drove this road when I moved to Texas after graduating Gordon College and didn't take nearly the time necessary to really enjoy it! Hoping to fix that this time around.

We're plugging away, putting quite a bit of money onto Emily's student loan over the summer and trying to keep motivated about the trip. It sounds like there will be some friends joining us on the west coast portion (Mostly WA and OR) and possibly someone who will join us the whole way! Keep working at it, folks! The prize is worth the work!

Currently reading: A Field Guide to Getting Lost
Currently watching: Cars