Interest Based Income - part three

 Part one was about some basic math for interest based income. 

 Part two was about some personal math.

 So the numbers I showed you from part two for what I would need if I was to rent out my house.

Single family rent per month =$1,400

Single family rent per year = $16,800

Two family rent per month = $2,800

Two family rent per year = $33,600

Again, this is the magical $30,000 a year just without starting with a million dollars first.

What people don't talk about is that until that money is in your hands, it is not and will not ever be a guarantee. 

There are many landlords who talk about that money as if it was a guarantee and it is a very dangerous mindset to be in. This is how debit and foreclosures happen.

During the plague there were a whole bunch of landlords that not only thought this but demanded this while also telling the renters that they were going to be evicted. Thanks to that type of landlord there is a great deal of justified broken trust.

At an old job one of my coworkers was also a landlord. He would not send that current years rent until the following year. He treated it as interest from an investment. He also still have a full time job. Why? to cover his existing mortgages. His house was paid off. He had at least one other property paid off. He did not consider the next months rent as already in his pocket because he was fully aware that life could happen at the worst times.

I would have loved to have heard him making fun of all the terrible landlords that were crying about their renters leaving them because they jacked up the rent too high & were verbally abusive so now they couldn't afford their own mortgage OR the mortgages of their rental properties. 

Are there terrible tenants? I have known a few but they were always justifying their actions because the landlords were being horrid to them. If they hadn't had that opening they could have been shamed into caring. Mostly they just didn't pay the last month and used the security deposit as their last months rent. Not the best but there are details and horrid landlords.

Also, landlords are not ever able to go into tenants mail because that is 100% mail fraud and USPS will go after them.

This is to say that having a rental is not for the feint of heart or the cruel of mind. IF you are still thinking about it then a property management company is what you want to have. A lot of people don't realize just how much renters think you can control the companies. But you do want to listen to them because they will have the most contact. You don't want a company that drives away your renters.

 Think of the rental properties that you see for sale on sites like zillow. They are mostly listed by people that don't want to be landlords anymore. One would hope it's for good reasons but most are probably landlords that are just burned out and can't be bothered. 

It could be a grandparent that just is too old or they passed away and it is easier to sell then fight with family on who gets it.

It could be a a married couple and one of them landed a job that needs them to move and being an out of state landlord is not something they want to deal with.

It could be that a new landlord has 'graduated' from a smaller property to wanting to focus on larger ones. Which are easier for them to get cheaper loans for.

A divorce of family feud can also cause problems.

 Many seem to be stupid landlords that think their tenants money is theirs and as such planned out non-refundable trips and done other things to spend the money that they think is theirs. This is a very fast track to bankruptcy. Many of them are the type to try and evict people during a plague. They think only of their own benefit and fail to see how no one has to put up with that.

Please don't be like that group.

 

 

 

 

 

 

Interest Based Income - part two

Part one was about some basic math for interest based income.

Now the fun part, how would you could even start getting $100,000 let alone $500,000 saved up?

Yeah, this is the horrible part because most things these days are not designed to make it easy to save money. I have never rented so I can't guess on that type of budget. I do own a house though and that does open a door for me to get started saving. If I chose to sell my house I could in theory make $100,000 after everything is said and done.

I have not put a lot of money into my house but with just the base improvements I could see getting $100,000 from it if/when I sell. 

Could I do more improvements to my house? Of course. I would love to replace all the windows and the siding. But I will never see that money returned to me. It could cost $25,000 for all the windows and $20,000 to do the siding. Then another $10,000 for the driveway. I would just never see that $55,000 investment ever again. Not to mention I do not have the money to even consider doing them.

I will probably look into adding a pull down stairs for attic space. That is closer to the $1,000 range. The potential attic space wouldn't be to much but it would be worth it. Especially considering the only other access it a tiny little square. I still can't figure out how my house inspector got through it because I was cramped when I went through it.

The reason I could even hope to make $100,000 after selling is because I got a very affordable house when the interest was super low a few years ago. I got very luck and I know not everyone will want a cheap house in the middle of no ware.

I have also already updated the electric. That was a nightmare of tracking payments so I'm not full sure what the true total was but it was between $10,000 - $20,000 which was only because he was good friends with my realtor. The work took two years and was worth it.

Never buy a house from a church. Do not do it.

The bad part of that is that my tiny town hasn't seen an increase in prices. It is stuck in a price range and I would have to get very, very lucky to get more. It's just not an area that has houses that go more than $200,000 for my size of house.

On the flip side, if I wanted to rent out my house instead of selling? I could list it as is for renting as a single family house.

If I wanted to rent it as a two family, I would have to rip out two doors to make it a legal two family rental. Then I would have to figure out what to do about laundry for the second floor. So a two family is out.

However! While renting out my house would be ideal, it is only possible if I could find a management company in my area. I know they exist but I have yet to actually find one. My town is full of rentals and I can not for the life of me find any info online. I don't have any idea who in my town I could talk to about it because my town is a little bit weird about some things.

Which brings me back to square one of selling the house once I am ready as being the best option. Pending locating the cryptid management company in my area.

So, why go over all of this? Because it shows just how much a little thing can snowball and branch off into so, so many other things.

The numbers that you want to see (based on what I want to rent out for)

Single family rent per month =$1,400

Single family rent per year = $16,800

Two family rent per month = $2,800

Two family rent per year = $33,600

And that right there is the magical $30,000 a year just without starting with a million dollars first.

What people don't talk about is that until that money is in your hands, it is not and will not ever be a guarantee. 

Part three is going to be going over that very valuable point of view.

Interest Based Income - part one

 Interest Based Income

What I mean by this is earning enough money from your interest based savings account with a bank. I'm going to be tossing around a lot of numbers but the base interest I'll be using will be 3%. It's not the current interest rate but it's the one I'm going to use.

The thing I will not be getting into is going to be the taxes. If you earn $10 you will get a 1099-INT and you will just file that when doing your taxes. File your taxes. It will effect you yearly return. Thats all i have to say on taxes.

The basic amounts that I will be working with are going to be as follows:

$100

$1,000

$10,000

$100,000

$1,000,000

These are the big break points when talking about interest. When you have the small amounts it feels like it's not doing anything but that can carry over to the larger amounts also. The most common way people talk about earned interest is as yearly amounts.

Per Year

$100 = $3

$1,000 = $30

$10,000 = $300

$100,000 = $3,000

$1,000,000 = $30,000

Where I'm from, $30,000 is a full time minimum wage job. 

What you also want to focus on is the per month interest because this is what you will be able to budget with like an additional paycheck. This means that you will want a savings account that will pay you per month and when they pay you will be at the end of that month.

Per Month

$100 = $0.25

$1,000 = $2.50

$10,000 = $25.00

$100,000 = $250.00

$1,000,000 = $2,500.00

The monthly breakdown is how you can see when it makes a difference. $25 doesn't feel like it can do much but that $300 at the end of the year could be a nice cushion or treat.

But $250 a month? That's a bill. It could be an extra payment on a credit card. It could be a car payment. It could be a persons grocery bill. It is a small amount but it is a small amount that will make a difference. If you are able to save it then that extra $3,000 a year is definitely a good amount to have saved up for emergencies or fun.

Will it fix everything? No, but I have had a surprise car repair bill (thanks to chipmunks making a nest in my car and eating the wires) and it was just over $3,000 to fix. I would have been much better off it i had been able to just pay it off with cash instead of using a credit card. The interest I was paying on the credit card was insane.

This is what people mean by wanting their money to work for them.

This is why my ultimate personal goal is going to be to try and get $500,000 because that will be $15,000 per year or $1,250 per month. Which doesn't sound like a lot but it is. For me it would cover my mortgage and car payments. At my current spending it would very much fix everything for me.

I'll be going over my personal reasons in part two.

 I will close with saying that if I had $2,000,000 in the bank I could very easily live off of the estimated $5,000 a month interest. Even if I was paying for my own health insurance.

To be honest I would probably keep my day job just so I wouldn't have to deal with tracking down my own health insurance and then I could keep my 401k. But thats going to be a part three I think.

 Part two was about some personal math.

Why NTF's Are Bad

 Why NTF's Are Bad

 First they are destroying the environment.

Yeah, this is already a dangerous topic because of  bad information that has flooded the internet as well as the argument that but Rich Person is doing it!!

Let's give it a go.

First, Do Not Do NFT's.

Second, Do not Do Crypto Currency.

Third, Do Not Do Data Mining.

Ironically these things showed up in a different order. Crypto Currency -> Data Mining -> NTF's

I do remember when bit coin started and they literally could not give the stuff away. Some sites would give you one free bitcoin when you made an account with them! One whole coin!

Someone mentioned finding a contest were the people that placed 8th would get 25 bit coins. Which would never be seen or heard of happening today.

So for bit coins they need to be 'mined' to be worth more or some such. But because of the huge data usage they people that 'farm' the data managed to cause a shortage of computer parts long before the Pandemic and the Everready. Computer prices are actually just starting to come down a bit.

There is also the bit were crypto miners were being added to sites and apps without anyone's knowledge or permissions and slowing their devices because of it. There was so much crap going on.

Now, with the NTF's it's starting to go in a new direction but it's using so much more energy then can be supported. And for what?

A receipt.

Not an item, a receipt that they paid for a recite. They also tout that they are un-traceable. I'll get back to this little bit. You don't even get the item because you are only buying a receipt.

This has money laundering written all over it.

It's worse then the whole beanie baby thing from the 90's, mostly because of the money laundering.

There is some of the worst art work being purposely made to look that bad, going for $10,000 and that is assuming it's being sold by the original artist and not just stolen from them. They are trying to say that all funds go back to the artist that is selling them. Completely skipping over the rampant art theft that has been happening on the internet for years. 

They are trying to use this same false seance of safety to claim that right clicking + save image is some kind of super hacking. 

But this goes back to their "un-taceable" claim.

Remember the bitcoin Milionair that died with the only password to a wallet with  a whole bunch of peoples money? $190 million gone in a moment. Quite a few crypto sites think he faked his own death.

If one of these 'block chains' gets shut down all of the super secret receipts on it go away with it. Then all you have is a debit and not even your receipt that you paid money for. I have seen people on twitter desperate to get their hacked wallets back and all they get told is too bad.

And don't forget that the IRS is now going to be going after the transactions for NFT's.

Technically they have been watching this with banks and now they have the ability to go full on after them. And since no one was keeping track of who was selling to who, i wonder if the sites will be locking access until they sellers list the appropriate info like Tax ID or SS numbers? Seeing as the IRS will be able to go after them also.

Please do not go into the NFT's.

on the Volt car Warranty

 Long story short car financial managers are going to lie to you that the very very clearly specified warranty will not cover what it says it will. They will say it only covers the battery.

Like I said, they lie.

There is a 8 year / 100,000 mile warranty by Chevy/GM that covers all the electronics that make the car run in their Warranty Manuel that is listed on their site but that the dealership will try to charge you $4,000+ to fix. Specifically the BECM.

This only work if you are still in/under the 8 year / 100,000 mile warranty!!

 I didn't even know about this warranty let alone that I was still covered by it. Thankfully my friend did and was texting me info on it while we were talking about it before I authorized the work. 

No your tech guys will not check the warranty for you. Again you will need to specify VoltTech and the Warranty Manuel that is on GM's site.

There are a few small-ish things like the 12volt battery that can cost $200 & the $400 coolant flushing that they have to do 3 times & they are required to do (I am still arguing about this one but seems legit) and any  other thing that is not the main control box or specifies as being under the VoltTech warranty.

 

Also AAA got me a super Super awesome tow company that was able to give me a ride with them to the dealership near my parents that was almost 3 hours away from the gas station that my car wouldn't turn back on at. Super awesome guys.

Now if you just say that you found info on it on a website no one is going to take you seriously. That is why you have to specify VoltTech and the Warranty Manuel that is on GM's site.

 The site I found that told me about the VoltTech part was https://www.gm-volt.com/threads/2017-battery-energy-control-module-replacement-becm.328801/page-3

The problem I (and a ton of others) had was "shift to park" error.

There is a forced restart that I did by accident when my car wouldn't start the day before my trip. something like holding the power button on for 10-20 seconds and then leaving the door open for 60 seconds. I did this while freaking out in my driveway at home. This is a full shutdown of the car because the "shift to park" error doesn't let you shut your car off all the way.

So! fortunately because I freaked out the day before I was completely calm when I had the same problem at the gas station and I was totally not shocked when the earlier solution didn't work.

I do think my calm and relaxed attitude threw the tow guys for a loop. But they were super awesome.

Can you afford your job?

An odd title, but an important question that I never thought much about.

So way, way back in 2011 I wrote about debt & controlling mothers... By the end of that summer we got into another argument and this time she said "fine! then you can do it!". I haven't grabbed anything so fast in my life. ((Small recap, my mom wanted to be, and was in total control of my finances because blah blah blah and I was lazy & trying to do too much at once.))

After all was said and done I know have savings. Mostly because I finished paying off my card. I would have more if I have done my credit card balance transfer a hell of a lot sooner.

I transferred two credit card balances into one credit card bill. I had two bills that my mom had insisted on paying more then the min on. $275 each was what she had been doing before I got control of it. After? I'm paying $200 because that is the amount that works and is slightly over my minimum.

Unfortunately I chose to do a little math and looked into what was the minimum I would have to make per hour if I wanted to get a new job. I'm using really bad math but it makes for a nice cushion when planning.

Example:
$11 hr x 40 hr = $440 x 52 wk = $22,880 - 40% = $13,738

I played with my pay check and found that 40% was pretty close to representing taxes and health and 401k crap.  I should have just gone with 50% and made my life a tad easier.

My old job? didn't pay anywhere near that. In fact, my bills were $3,000 over what I was making. Not counting the trips my mom encouraged me to go on and starting a jewelry thing. All the while saying I could afford it.

I was very lucky that I am so boring or it could have been much, much worse.

From a financial point, this was a very bad situation. Emotionally? Nah, I'm good. Yes we argue and such but it's a 'normal' thing. She has stopped asking if I want her help because I was mean and laughed evil.

Personaly I would be much better off if I could move out. But that is slowly in the works (p.s. the first time home buyers club is evil) but I don't know if I can scrounge up the closing costs. Closing costs are the devil.

Debt, Life and dear god! An update!

Were to start?

The debt has been slowly taken care of. If I was to trust the little blurb in the corner of my bill I will be free of it in 3 years. I did not take out a loan and that would have been a very bad idea. I did merge two credit cards onto one card. This let me set up one monthly automatic payment.

The ordeal was a pain in the butt. The first transfer had to be done one the phone with a live person. Even though two other people told me I could just do it online. Frustrating but then I just did both with the wonderful woman on that call. So it worked out.

The weirdest part was that each separate card had been a min due of $250 - $300 EACH. Or rather I was paying out $500 to $600 each month.

The new one is $225-ish.

Let that sink in a bit. Because I flipped when I got the first bill. I have been able to save so much money. The new problem seems to be I can't save past a particular amount. This is a pain because of the BRAND NEW THING!

Which is I joined a First Time Home Buyer thing. It is total crap but should help me to ACTUALLY buy a house in two years. So there is now $188 a month going to a special account so that the government will give me a grant of $7,500.

Fact: I still don't have enught for closing costs. Which is the real killer in buying a house.

On the job side of life, after five years with my current job I have finally taken steps to look for a new one. I calle dthe temp agency that got me hired here and I will be sendign them my resume to get going again. The woman that answered my call was very nice when I started fumbling to discribe why I was leaving. I wanted to say that the enviroment wasn't what it was and was moving into mor toxic then I would like.

What I said was a jumble of starting and stopping and toxic and many 'it's just'. She said don't worry about it and started looking at my file. She was wonderful.

That is were the blog stands right now. Yeay?

Easy ways to make money online: Math

So, I went over the time that will be spent and thought I should do a post on views you need to make money. Because money is the goal of blogging for money. This is going to be another long post but it breaks down the simple math for you to see. The pay off is not fast unless you really work at it.

If you do one post a week for a year that is 52 posts a year.

If you plan to do 3 posts a week per year that is 156 posts a year or about 12 posts a month.

If you plan to do 5 posts a week that brings you to 260 posts a year.

7 posts a dys will bering you to 364 posts a year.

If you get crazy and post 2 times a day every day of the week, you would be posting 730 a year.

This adds up to a lot of posts but how much time would you be spending per year typing up the posts? Using that 20 minuet per post average from my last post you would be spending just over 17 hours a year for 52 posts. For a goal of posting twice a day for a year? Over 243 hours a year.

Even with all that in mind it will still take about a year before you see any real money. You have to build up an audience who will view and hopefully click on your ads.

Say if you get $0.20 per click (not an actual amount and very low)? With only 52 posts a year you probably will not be getting very many clicks unless they are very good posts. I got maybe one click my first year.

When posting once a week, if you get 5 views to each post the day you post it and then 3 views in between when you post that would be 416 views your first year.

With three posts a week per year with the same views that would be 1,248 views your first year.

With five posts a week per year with the same views that would be 2,080 views your first year.

 At one click every 200 views you are looking at between $0.40 - $2.08 for your first year. That doesn't sound like that huge check some sites post images of. What you would need would be more posts or more people viewing your posts.

Say you get a small following your second year. 10 people check your site every day you post in addition to the base 8 views from the prior year that would bump the numbers up to $0.94 - $4.68 which is more then double the first year.

Lets get a little more ambitious, say you have been inter mingling with other bloggers and their blogs. Posting comments and taking part in discussions. Maybe you even wrote a guest blog post for a new friend in the blog world. So in stead of having 10 new followers you have 100.

At 52 posts a year that jumps your views to 5,200 from just your followers. That is quite a jump from the first years estimate of 416. Switching to just follower views&clicks you would be getting $5.20 - $26 a year.

Now, lets assume that you are using that SEO and other methods of getting you name out into the web and that you wrote 20 guest posts for other blogs. Perhaps you met people in person and they posted about you and linked to your blog. Lets even go so far as to say the stars aligned and you are just winning at the internet your third year.

Say you now have 1,000 followers who check your blog every time you post. Say you also get 500 random views for each new post and 300 in between each post. Bringing your views to 46,800 - 468,000 per year. That is $46.80 - $468 per year at one click every 200 views.

However, if you are getting that many views you are starting to enter the realm of pay for every 1,000 views. If you got $0.20 for every 1,000 views then that would give you an additional $9.36 - $93.60 per year bumping your total to $56.16 - $561.60 per year.

Now this is when we start to have fun with totals because for now we have only been talking about static numbers. Let us move into the world of the 'what if' scenario.

What if you were able to get 100 new followers every time you posted? That would be between 5,200 - 15,600 people a year finding your blog. Bump that number to 1,000 new people every time you post and that would be between 52,000 and 260,000 people a year.

At 52,000 and 260,000 people a year viewing your blog would be 2,704,000 - 13,520,000 views a year or $2,704 - $13,520 with one click for every 200 people.

Now this is the money you were thinking of when you started blogging. This is the kind of money eveyone thinks about making by doing nothing but as you can see it does take a lot of work.

Odviously the more people you get to your site every day with make a huge impact on the amount that you earn.

The more you take part in the community the more people will see you and the more chances you will have for clicks.

On Debt and Controlling Mothers

By controlling mothers I mean less on getting them to do what you want and more on them trying to control every aspect of your life.

My mom has done everything she can to avoid talking to me about my finances. While I do blame her for conditioning me to letting her handle all this. I do blame myself for letting this go on for so long. I know I should have dug my heels in back 11 years ago when I first noticed. My sister agrees that she turns our words around to make it sound like she is doing us a favor. Unfortunately I have no idea were she keeps my bills or even were she keeps my check book.

Yes, she insists on holding onto my check book for me. Hell, she still tries to hold my hand if we cross the street together.

Don't think I don't love her, I do. I just can't grasp why she feels the need to control everything I do. She gets upset if I don't ask her for her opinion/permission when I do things. I tell her what I plan on doing so I don't have to listen to her complain about it for the next days/weeks/years/forever.

A lot of my debt can be blamed on blind trust. Blind trust in my mother that I willingly did and still do. I think I am conditioned to do it. How ever that don't put the blame on anyone but myself. My conversations with her would be something like this.
Me: Can I afford this?
Her: Yes.

Every single time she will say yes. Upon getting a bill I would ask her why did she say I could afford it when I couldn't. She would say "You can't afford anything I don't know why you bought that." This was the start of the mother of all arguments. It was also when I stopped asking my mom for advice.

However the damage was done and it was done well.

At this rate back peddling is not an option. I need to do everything I can to take away what ever power she thinks she has over me. Fortunately my dad is helping a little, but only a little as he has to live with her after I move out. If I move out. God I hope I move out.

Finished My Taxes and I Have Another Plan

I just finished my taxes and am very happy. I always make one urchase with my tax money to treat myself. I got a new camera one year and a laptop another. But when I do this I make sure I have most of my tax return left over and use that to pay bills.

This year I'm going to put the rest away in a savings account.

This is a bit of a change for me and I know I will be tempted to use it. But if I don't I will have a nice little nest egg for when I try and find a job in New York City. I can envision my readers going 'ah-ha!' as my insanity makes a little bit of sense. Please alow me to help it make more sense.

If I put this money aside I will have almost half of what I will need. That will shorten my wait time between finishing college and moving to NYC greatly. At the same time i will have finished paying for my car and will hopefully still have a grace period before I have to start paying my school loan back.

I do not know how having a student loan and financial assistance will effect my taxes. This is something I will have to wait until next year to find out. I have a few more things I need to do to see if I can transfer to a better college. If done soon enough I would start in May of this year. I need to check to see how that is going later this week.

Credit Card Debt

I have one Card that has an insane interest rate.
I have another Card that has a really low rate.

After cruising the lower rate site I found that I can transfer the balance from the one card to the better company with the better rate. 0% for 12 months and then around 16% after that.

Guess what I plan on doing?

If you have a credit card that has an insanely high rate, check out the other companies. Call them and ask questions. What rate will you get on sign-up? How long will you get that rate? What will that rate change to? These are just a few to ask, but you will think of more as you talk with them.

After going over all your options, see if you are still interested in transferring your balance. It is possible that you already have the best rate you can get. If you don't, then transfer your balance to the new card.

It seems a lot harder then it is. But all this will cost you is some time well spent.

Getting a Loan

Getting a personal loan for any amount is going to frustrate you. I feel that it would be a giant waste of time to even consider getting more information from the banks. That is, as long as they are not trying to rush you off the phone.

So, the bank I tried was one in my home town. The woman did not work in the loan department but she said she could help me anyhow. She couldn't really answer most of my questions. She also tried to rush me off the phone as soon as she could answer my first question.  she kept saying "so your all set right?" to which I had to answer "no, i have a few more Questions for you".

Another strike against her was that she kept trying to insist that i should get an equity loan for my house.even though I kept telling her I did not own a house. She was not interested in talking about using my car as a collateral but said I would need to have the amount I needed in an account already to use as collateral. But Even this information was given to me broken up.

If you want to talk to a bank about a loan, only talk to someone in the loan department. Other wise you will be wasting your time.

Should I get a Loan to pay off Debt

So... I had an idea. I could get a loan and pay less to pay it back then I am currently paying right now. Right now I am doing this with the assumption that i am paying $550 - $650 for my current credit card and car payments each month.

I am going to be talking about an obscenely large amount of money.

For the loan I am taking a rough guess as to what I still owe totally and a little extra for emergencies for the $30,000. For the $50,000 I was adding in college as well.

My main goal was to find a loan payment that would still be covered by un-employment if i happened to loose my job. Thus I could still make payments and look for a job at the same time. Or if I got my Bachelors in two years I would be able to move to New York City to start looking for a better job and still be able to pay the loan and other bills.

So if i got a loan to pay off my debt right now at:
loan = $30,000
Years to pay = 10
interest rate = %6
monthly payment = $333.06

I could pay off my car and all my credit cards and still have a cushion left over. OR to use the left over to make a large pay back.

I would still be saving money.
I could actually pay you rent every month and still save up money.

a loan for $40,000 @ 10yr would be payments of $444.08 which I don't see as being all that great since it wouldn't cover school. now if i did $50,000 @ 15yrs to cover school, debt and emergency cash...

loan = $50,000
Years to pay = 15
interest rate = %6
monthly payment = $421.93

That I could still handle. I could pay for school and keep the rest in my HSBC hi-interest savings and make some money off it that I could put towards paying it off.

For school I wouldn't have to pay it all in one lump sum. Plus I would get money back from school in my taxes. Which I could turn around and put back into the loan or savings account.

Key Bank only offers personal loans for 5yrs which will not work at all for this.

HSBC doesn't do personal loans just mortgages which doesn't help my situation.

M&T does a general purpose secured loan for 10yrs.

Now, after i poked around on the M&T site i found their calculator to see what kind of intrest i could get. for a new york resident wanting a $50,000 loan the interest rate would be %5.49 Which is lower then what I did my base numbers on.

loan = $50,000
Years to pay = 10
interest rate = %5.49
monthly payment = $542.38

%6 isn't that much higher of a monthly payment at $555.10







loan = $30,000
Years to pay = 10
interest rate = %5.49
monthly payment = $325.43

At this point i would actually have to go in and talk with someone at M&T back to see what my options are. to see if I could really get that %.49 rate and if I could get $500,000 for a 10yr loan.
 if I can't get a 10yr loan, regardless of the amount, there is no real point to me getting a loan.

These numbers are not counting large sum payments made after I get my tax return back. depending what I get back. This would be able to give me the chance to get the principle paid off faster and lessening my interest paid over time.

If I could get the loan, finish school and get into NYC I could have a better paying job in about 2 1/2 years. I would have no car payments and no credit card payments. I would have and emergency build up that I could use for paying back the loan if needed that would not take away for what ever current pay check i would be getting. It would also allow my to make larger payments and knock it down faster.

The sooner we discuss this the sooner I can start school and stop worrying about what I am doing with my life. I can't keep living how I am. If taking out this loan can allow my to make the changes that I need then this is what I need to do.

https://www.mtb.com/personal/loanscredit/PersonalLoans/Pages/Index.aspx
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

A little advice from family

So over the New Years holiday my cousin and her husband took me out to lunch. They then asked me a bunch of questions about my job and if I would be moving to the city. This turned a good chunk of lunch into me letting everything out. It felt very good and I got a good deal of information from them.

The first was that even if I took a week in the city I would probably not be able to find a job in that time frame. Let alone be hired that fast. Even if I went through a hiring agency it would still take time. She also finally gave me the name of the hiring company that she knows and deals with. She said to call this one woman there and to drop her name. Because it's always who you know to get your foot in the door. This is the place that she sent her sister to as well.

But when she said I would probably have to live in the city for a month and need to have a few thousand dollars saved up is what made me worry.

That started a conversation about my current financial standing. And my mom.

She recomended going to the library and checking out some books by Suzy Orman. Her website http://www.suzeorman.com is amazing. I have only poked around the resorce tool section so far but I will definatly check out her book from the library.

Then my cousin told me I needed to find a nice way of telling my mom to get the hell away from my finances. She was even more adamant about this after hearing the full story about why there had been a race to move out with my sister. This led into the whole college situation and ended with me really needing to sit my mom down for a talk. Which I am totally not looking forward to.

So, while not the best thing to talk about over the holidays it did give me a great out look for the coming year.

Planing In The Event That I Loose My Job

In this day and age I don't see this as a bad thing. It's possibly one of the things you should do because of the current economy. Either way, having a plan for the 'just in case' is always a good thing.

I would like to think I have a very good plan.

If I happen to loose my current job I would start out with setting up for unemployment. If I am truly lucky it will cover all my bills until I can find a new job. At the most it would help me with my car payments.The car being my more important thing to worry about. Second would be old credit card bills that won't go away.

Which would lead to the next item on my list which would be to call my credit card companies and explain what's going on and if they could lower my interest rate. Actuly, I should do that anyhow.

Go back to school full time. Possibly go to an advanced speed school that can assist me with getting school loans. I would probably not be able to be on unemployment at the time. If I plan right I could probably get enugh from the loans to pay off the rest of my car and a few bills. A good dream to have.

Then would come the job hunt of insanity. Since I would have free time I would be able to go to a hiring agency and attempt to gain employment through them. With an open schedule I would be able to get to their interviews as well as accept temp to hire and contract positions. Both of which I am currently not comfortable with taking while I have a full time job.

I could look into moving to a new city. This would be a very, very interesting thing to try. I would only be able to try the cities that I have friends and family living in right now, but that gives me some pretty good options. California, NYC, Michigan, Iowa and Connecticut. If I can afford to drive to the locations that would also help me out.

This could also force me to go out and sell my jewelry to people I have never met. Going into salons and such to try and get them to either purchase it or get a good commission for it. At the very least I could make more postings to Etsy per day and look into shows and the like.

At the most extream I could ask my parents to take up part of my car payment and use the older car. That would be desperation on my part. But after that? I have no idea what I would be able to do to get on with my life.

Amazed in a Bad Way.

The current job market just astounds me.

I have heard stories about companies looking for people with higher degrees for entry level jobs. I can't explain how much it shocks me to see a job requiring a front desk reception to have a bachelors or masters. A legal secratary I could understand, but byond that? I can understand grabbing a grad fresh out of college but that's cutting out everyone that could have years of experience just for a little piece of paper.

I just can not figure out how someone can work a 8-5 job, have a car payment and pay to go to school full time. I can't even imagine how they find the time to attend their classes. It just boggles my mind. However to the people that can do it you rock.

I hate to say it but I have a bad feeling the economy is going to crash again and soon.

Saving Money

Back to the saving money bit.

If, like me, you are looking into getting a job in another city/state you will need at least $10,000 - $15,000. Why? Because some leasing companies will not rent to you unless you have that much saved up. They want to make sure that should you loose your job that you will be able to pay them. It also shows that you can pay them.

Makes sense? I didn't think so.

To them you are an investment. If they have to evict you that will cost them a good deal of money and they do not like loosing money. (I heard locally there is about 3 months of non-payment prior to eviction.) So they want to make sure that they won't have to evict you. They will possibly also run a credit check and background check. So don't be surprise if they present you with these forms.

If in 6 years I end up getting a better job locally(fat chance but a possibility) I might use my saved money for a down payment on a house. The housing market here is not all that good right now. But in a few years? who knows. It's a possibility I have to keep in mind.

Apartments in New York City

Every once in a while I will poke around to look at floor plans for New York City apartments. It's like an addiction. Fortunately it's an addiction I don't have to pay for yet.

Tribeca Green  My favorite so far.

The Brodskyorg Organization This one seems to have a lot to choose from.
The Avalon Communities Interesting floor plans.

Yeah, I dream big. And yes these are primarily managed apartments