AmbitiousSaver's Personal Finance Blog

Accidental landlords & Sole Proprietorship

summermgyck@hotmail.com (AmbitiousSaver) — Wed, 19 Nov 2008 10:49:22 PST

Here is the first part of my paper. I hope to finish the section on Partnerships later tonight. I'm actually not as bored writing the paper as I originally thought.
..........................
Legal & Tax Considerations in Establishing a Rental Property

Historically, real estate...

The legal and tax ramifications of a rental property

summermgyck@hotmail.com (AmbitiousSaver) — Mon, 17 Nov 2008 19:37:46 PST

That is the topic I have chosen to write my tax paper on.

My only problem is, aside from referencing the U.S. code and tax law - what other sources should I use (other than my text)?

This is my first tax/legal paper that I've ever had to write and its supposed to cover a topic...

Planning out December

summermgyck@hotmail.com (AmbitiousSaver) — Sun, 16 Nov 2008 09:38:45 PST

I'm doing the budget for December and for our living expenses, we should be in the black that month.

BUT with Christmas, my friend's coming to visit, DH's birthday, our 9th anniversary - you can see it'll be easy to find opportunities to spend.

The silver lining is - DH is taking...

I'm in a hurry to get things done...

summermgyck@hotmail.com (AmbitiousSaver) — Fri, 14 Nov 2008 07:18:50 PST

I rush and rush till life's no fun...

I think that song must reflect my life, or at least DH's effect on it

The course schedule for Spring 2009 came out and there are four classes being offered (they only offer the courses once a year). So in order for me to graduate by December...

What to do when it seems like it never ends...

summermgyck@hotmail.com (AmbitiousSaver) — Wed, 12 Nov 2008 12:00:56 PST

One of my best friends recently lost her job and they are currenty facing a deficit. My company is doing pay cuts with some managers taking up to a 34% reduction in pay.

It seems like this news is happening all around. You hear on the news how times are tough and you think it...

Car inspections

summermgyck@hotmail.com (AmbitiousSaver) — Tue, 11 Nov 2008 11:46:51 PST

We just had both cars inspected for their annual safety inspection

It cost us nothing because we went to the dealerships we bought them from

I can't tell you how much of a relief that is especially during an already financially tight month

A company's unique way of facing the economy

summermgyck@hotmail.com (AmbitiousSaver) — Mon, 10 Nov 2008 14:45:12 PST

Last week, the company I work for held a call that we need to cut $140K from our budget next week to remain stable and asked for suggestions from employees. They presented them today.

The company mentioned its solutions to increase its financial stability and if there is a silver...

The economy is now beginning to hit us harder

summermgyck@hotmail.com (AmbitiousSaver) — Sun, 09 Nov 2008 19:29:26 PST

The economy is now beginning to hit us harder and I just have to keep telling myself that no matter what, we have to press on.

Last week Monday our company had a call that they needed to cut their budget $140K next year and they were soliciting ideas from employees on how to help...

Our light at the end of the tunnel - February

summermgyck@hotmail.com (AmbitiousSaver) — Sun, 02 Nov 2008 15:22:56 PST

So after looking at the layout for this month putting us at $750 in the red I decided to estimate next year's taxes to see how close we are to paying off DH's car so that can free up more of our monthly income.

Factoring in my tuition, the four kids, my student loan interest, the...

Need to buckle down this month

summermgyck@hotmail.com (AmbitiousSaver) — Sun, 02 Nov 2008 11:59:24 PST

Right now its looking like we'll probably be about $750 in the red this month

We had to go out and buy new locks for the house. We never changed them when we bought the house last summer, and finally the garage door lock was no longer functioning. We went to Home Depot and we...

Refunding EF

summermgyck@hotmail.com (AmbitiousSaver) — Tue, 28 Oct 2008 05:05:36 PST

Today I moved $402 back to the EF to bring it to $1454.

Just $298 left to go before its fully refunded. I get paid tomorrow and plan to repay it then.

I think I did okay this month. Groceries were a bit more than I expected but I won't need to go grocery shopping till November...

Found money

summermgyck@hotmail.com (AmbitiousSaver) — Sat, 25 Oct 2008 15:36:20 PST

We got a letter in the mail today saying DH had $243 in unclaimed money from a state tax return and the company wanted to charge us $24 to process it.

I went online to check if it was legitimate and it was. But I am filing it directly with the government itself so I don't have...

My grocery shopping regimen

summermgyck@hotmail.com (AmbitiousSaver) — Fri, 24 Oct 2008 07:57:04 PST

Its that time again, I noticed in my pantry I have enough to make dinner for tonight and that is it.

SO I pulled out the cookbooks picked out 19 recipes to make. Last time I had picked 14 and obviously that wasn't enough.

After I make the list, I proceed to go back to all the...

So how has all this been affecting you?

summermgyck@hotmail.com (AmbitiousSaver) — Thu, 23 Oct 2008 13:26:49 PST

Was the question my boss asked me today.

I really didn't know much to say. In my mind I was thinking "Well, as long as I have my job we'll be fine since DH is in the military" but I didn't till a few moments later.

I did tell her I wasn't TOO worried. We're cutting back in...

On the agenda

summermgyck@hotmail.com (AmbitiousSaver) — Tue, 21 Oct 2008 17:01:30 PST

*sigh*

Finish my section of a group project going over a comparison of Alcatel-Lucent's consolidated financial statement reconciliation to U.S. GAAP from IFRS

Read about derivatives. I got through the first page and didn't quite see how it "managed" risk, it seemed a lot like...

Unwaivering faith

summermgyck@hotmail.com (AmbitiousSaver) — Mon, 20 Oct 2008 17:59:51 PST

I have a technique I use whenever I tell someone about my goals and I get the usual response that either my dreams are too lofty or impossible.

I've had this happen to me several times in my life. Often by the very people closest to me and I've used it as the fuel for my success.

When...

Must remember to check PMs

summermgyck@hotmail.com (AmbitiousSaver) — Mon, 20 Oct 2008 08:23:22 PST

I went to the main site and noticed I had 2 messages since June! I felt bad for not responding but truth is, after - well, I'll say it, I got my feelings hurt in the message board section in regards to my rental, so I vowed never to check the message boards again. My best friend reminded...

Underbudget!

summermgyck@hotmail.com (AmbitiousSaver) — Sat, 18 Oct 2008 14:41:16 PST

We did a lot today

DH got his car fixed... $980, $20 under budget

Our baby had her pictures taken... $77, $73 under budget

We filled up our cars for the rest of the month... $84, $16 under budget

Our other daughter's birthday gift... $10, $40 under budget

So with that...

Its nice to get an unexpected check in the mail

summermgyck@hotmail.com (AmbitiousSaver) — Fri, 17 Oct 2008 11:36:35 PST

I was wondering how my financial aid award was doing since I submitted that I was attending 6 credits of graduate school in the Fall and 6 in the Spring.

Well my college sent me a check today. Its a Federal Subsidized loan so the interest won't accrue till I graduate. I had already...

Tempted to cut up my debit/credit card

summermgyck@hotmail.com (AmbitiousSaver) — Fri, 17 Oct 2008 07:03:59 PST

And just go back to an ATM card

I made a purchase online last week Friday, I called MINUTES after to cancel the order

I was STILL charged on Wednesday when it posted to my checking account

I was told a refund was in the works but when I called my bank today they still did...