Links Lisa Likes – Life is Crazy Busy

Hello lovelies!!

I’ve missed doing LLL, so I’m back with a whole bunch of links I loved this past week or so!

I know I’ve been saying it a lot lately on the blog, but life has just been absolutely crazy lately! I’ve been working tons of over time for the past few weeks, which is both good and bad. Good because I have a wedding to save up for, so I’ll take all the over time pay I can get! But it’s also bad because by the end of my long days, I have no energy to do anything.

The Fiance and I have also been pretty busy planning our engagement party which is coming this weekend! Other than that, we’ve also started going to a few bridal showcases around here as well as meeting up with our wedding planner. I can’t wait to share with you all our experiences so far!

#FinCon14 was over a month ago, and I left NOLA with a lot of ideas I wanted to implement here on LvtL, but alas, time is just not on my side. Hopefully after my engagement party, I’ll have some more time freed up to finally start what I really want LvtL to turn into.

Speaking of #FinCon14, don’t forget to check out my very first podcast interview I did with Steve Stewart of MoneyPlanSOS. We met up in New Orleans during FinCon14 to talk about what I did with my old 401k.

Without further ado, here are this week’s links!

This Week’s LLL

How to Add Margin – [Millennial on a Budget]
At first, I thought this post was strictly about monetary margins. Instead, Miss Millennial gives great tips on how to achieve margin in your life.

How to Carve Out Time for What You Really Love – [Budget Blonde]
Reading this post really made me miss my hip hop dance days.

Living Intentionally: What it Really Means and How to Do it – [Single Moms Income]
To live with intention means evaluating what your values are and doing more of that and less of everything else.

Thoughts on Work – [Dear Debt]
Quitting your job isn’t for everyone. Make sure you really evaluate your situation before you do anything drastic.

Want a Happier Version of You? Avoid the Obligation Creep – [Free to Pursue]
You don’t have to be productive 100% of the time. Allow yourself to enjoy the down time.

How was your past week? What are you looking forward to this week?

AMDG,
Lisa

What to Do With an Old 401k

About 8 months ago, I started a new job!

I was incredibly excited – and still am! I’m working for an amazing company with awesome benefits and I enjoy the work that I do! Yes, it gets stressful at times, but I love being challenged – how else are you supposed to grow?

One of the first things I did as an employee was sign up for all of my benefits – my medical plan, dental plan, vision plan, gym membership, and even transit/parking FSA accounts. But the one thing I couldn’t sign up for right away was a 401k – I had to endure a 90 day probationary period before I could enroll.

In the meantime, I knew I wanted to do something with my old 401k that I had with my previous employer. Here is what I could have done with my old 401k

  • Leave the funds in my old 401k
  • Wait 90 days and rollover the funds into my current 401k
  • Rollover the funds into a Traditional IRA
  • Rollover the funds into a Roth IRA
  • Cash out

If you follow my Net Worth Updates, you probably already know that I ended up choosing to rollover to the Traditional IRA.

Steve Stewart over at Money Plan SOS invited me onto his podcast to speak about what I ended up doing with those funds and why I choose to go one way and not the others.

Check out the podcast over here: What Should I Do With My Old 401k?

Again, thanks Steve for interviewing me and for making my very first podcast super fun and easy! I was incredibly nervous and I definitely think it showed, but I still had an absolute blast!

What did you do with your old 401k?

AMDG,
Lisa

One of Those Days

You ever have those days at work when you feel like you just can’t comprehend anything?

No matter how hard you try, you just don’t get it?

You try and try as hard as you can to understand the logic behind something, even breaking it down into baby steps and breaking those steps down even further to itty-bitty-baby steps. But still, it just doesn’t make any sense to you.

Yeah, welcome to my past week.

Don’t get me wrong – it’s great being a part of a company that is growing like crazy! I have much more input in our processes than I ever did at my old company that was much smaller than my company now. I love that I’m making a difference and that people (a lot of people, actually) value what I have to say and what I do.

But this week has just been one of those weeks where I felt like the weekend could not have come soon enough.

I feel like I just got back from my trip to New Orleans when really, I got back over a week agoBut right when I landed, I became sick with a stupid cold, which I’m still recovering from. Anyone else feel like they get sick at the most inconvenient times??

Anywho, catching up with all my work isn’t so bad. But add on top of that a completely new procedure that directly affects everything that I do. Not to mention all of the meetings I’m attending each day. These aren’t useless meetings either – they’re all incredibly important so I can’t skip any of them.

I am completely swamped. Not only does this new process greatly affect my job, I just can’t seem to get it. I feel like the learning curve is never ending here – which is great, this is exactly what I wanted – but it’s also exhausting.

Lisa vs. the Learning Curve aka my sad attempt at Paint

Lisa vs. the Learning Curve aka my sad attempt at Paint

I really don’t want this blog to ever be so self-indulgent, but I do think it’s something that needs to be brought up and not buried inside. I know I’m not the only one who just has one of those days that turn in to one of those weeks that eventually become one of those months.

There will be days when you feel straight up stupid. There will be days when you mess up so much that you don’t know where to start fixing it all, or even how to start fixing it all. There will be days when you are defeated.

When these days/weeks/months come around, I know that what I choose to do next is crucial.

I can choose to stay defeated and give up.

Or I can choose to drill this information into my head until it is second nature.

I can choose to bottle it all up inside and wait for an untimely explosion.

Or I can choose to allow myself to vent, even cry a little, and move on.

I will choose to be better. I will choose to face the problem and find a solution. I am defeated, but not for long.

Ever have “one of those days” when nothing seems to make sense? How do you handle it?

AMDG,
Lisa

September 2014 Net Worth

Can you freaking believe that it’s already October???? I sure can’t.

I’ve got a lot to catch you all up on, including the proposal story, a quick FinCon recap, a new wedding series (mine, duh ;)), and the first official Lisa’s Book Club review! But of course, the second I get back from FinCon, I get struck with a damn cold and I’m still recovering! Not to mention I’m super swamped trying to catch up at work and with all the wedding planning. All I can do  right now is squeeze out this net worth update for y’all, and let me tell you right now, it isn’t pretty.

September 2014

Net Worth as of September 30, 2014: $212,651

Overall, my net worth decreased by $1,199 this month :(

Told ya it isn’t pretty.

Cash: $1,864 [down $711]

I feel redundant saying this, but this particular category fluctuates every single month. Not too worried about this, even though it doesn’t look too good. As long as I’m following my zero-sum budget, I know that I’m good on cash overall.

Short Term Savings: $1,605 [up $380]

This consists of:

Emergency fund – $1,003
Wedding fund – $601
Travel fund – $2

My emergency fund is right where I want it – hovering around $1,000 and slowly gaining interest. The wedding fund is new and up $600, but will soon be depleted since this is mostly for reserving our dream church (more on that on another post). My travel fund is sad – down to $2. I pretty much withdrew all of it when I went to New Orleans this past month for FinCon.

Retirement Savings: $24,869 [down $384]

This consists of:

401k – $926
Traditional IRA – $8,541
Roth IRA – $15,401

Took a bit of a loss, mostly in my Traditional IRA this month. But I’m not stressin’ too much about that – I’m in this for the long haul! I am thinking of doing something with my Roth… but more on that later.

Est. Car Value: $16,242 [no change]

Self explanatory.

Est. Home Value: $479,000 [no change]

Self explanatory.

Credit Cards: $3,208 [up $1,395]

Yuck yuck yuck. I’m super sick of this credit card debt! I’ve stopped putting my gas on this card, so now I have no excuse but to leave it at home! I’m also thinking about doing something radical… using some of my Roth IRA to just pay this damn debt off and be done with it! What do y’all think? I can use the money I’m throwing at this debt towards saving for my wedding or travel.

Student Loans: $15,410 [down $118]

I think the next milestone I’m looking forward to for this is reaching $15,000. Hopefully I can reach this my the end of the year, if not by early next year!

Car Loan: $17,857 [down $314]

My car loan is slowly starting to catch up to it’s value. Can’t wait until I’m no longer underwater with this loan!

Mortgage: $274,455 [down $480]

Solid progress with the mortgage this month. Slow and steady as always :)

September was pretty yucky when it comes to my net worth. But I know that I’m more than my net worth. In fact, other than the ugly decrease in September 2014 Net Worth, September was a fabulous month for me! I got engaged, I traveled to New Orleans all by myself for FinCon14, and I spent a whole lot of time with family and friends.

I do wish I was around on the blog a lot more. That’s why for this month, I’m joining Brian from Luke1428 in Writing Oktoberfest! I will be committing to writing for 30 minutes every. single. day. No, that doesn’t mean I’m posting every day, it just means I’m working on posts on a daily basis. I’ve got a ton of ideas in my head and I really just need to commit to writing them all out for you guys!

How was your September?

AMDG,
Lisa

Timothy DeLaGhetto and Paying Off Your Parents’ Debt

A month or so ago, I stumbled upon this video from Timothy DeLaGhetto on YouTube

If you don’t know, Timothy DeLaGhetto is a YouTube personality – he’s a rapper (Traphik), comedian, and vlogger. You may recognize him as one of the comedians on Wild’N’Out on MTV.

Photo credit: XXL Mag

The video is pretty short, but if you can’t watch it, here’s the gist – Timothy paid off his parents’ house. He goes into the “why” of it all in the video, and seeing his parents’ reaction was really touching.

This brought up something I wanted to bring up to you guys. Would you pay for your parents’ debt?

Paying Off Your Parents’ Debt – Why You Should

My case is kind of different in that the mortgage of the house we live in is actually under my name. But let’s also talk about other kinds of debt – credit card debt, personal loans, car loans, etc. If I had my money right, and I could afford to do so, I would love to pay off my mom’s bills. Simply put – she’s done so much for me that I can’t even begin to repay her. Paying off her debts would be a great way for me to show her that I appreciate all that she’s done for me.

I’ve also heard others say that paying off their parents’ house would be a sign that they have “made it. Not only is it a big “thank you” to your parents, but it’s also a goal that people just want to be able to say that they’ve accomplished. I’ve heard this mentality not only with paying off your parents’ mortgages, but also with buying your parents an expensive car or even a luxurious vacation.

With that being said, there are also a few reasons why you should not be paying off your parents’ debt.

Paying Off Your Parents’ Debt – Why You Shouldn’t

If you are still in debt yourself, don’t even think about paying off your parents’ debt! As much as I appreciate all that my mom has done for me, I don’t think she would like it if I went into debt just to pay off hers. There are other, more affordable ways to show your gratitude and a lot of it has to do with your every day attitude towards your parents. Simply spending time with them may be enough.

Also, I know of parents who are already expecting their child to pay off their debt. They end up acting less responsible with their money in the hopes that their kid is going to take care of it. Personally, I would never put that on any of my future children. If that’s the only reason why you’re even thinking about paying off your parents’ debt, then I don’t think you should. Not only does it put a whole lot of pressure on you, but you can also grow to resent your parents for expecting these things of you.

Ultimately, this is a decision that is up to you. If you’re funds are right, and you really, truly want to do this for your parents, then go for it! I think Timothy DeLaGhetto’s choice was a great example. Personally, if I didn’t have all of this debt and all my retirement funds were on the right track, then I would think about paying off my mom’s debt. But until then, I’m going to show my gratitude in other ways.

What do you think? Do you think about paying off your parents’ debt? Why or why not?

AMDG,
Lisa
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