Put Down that Phone!

We live in the LA area and today a co-worker handed me a sheet with all the newest driving fines that take effect July 1st. The one that worries me is that cell phone use while driving must be "hands free" and if you get caught, the ticket is $285. Ever since I backed into my sister's car in my parents' driveway with my recently purchased vehicle while I was searching for a ringing cell phone, I've avoided talking on the phone and driving. I've also told my sons that no phone call is so important that you have to answer it while driving. They were in the backseat at the time of my accident, so even though it cost me $500 for the insurance deductible, I think it taught them a lesson. Unfortunately I don't have the same control over Basil. He has a fairly long commute to work and often calls me to ease the boredom ("Tell me a story," is how he usually starts the conversation). Also, his phone isn't new enough to have hands free technology. I could switch phones with him since my phone is bluetooth ready, but his has been dropped so many times that it looks like a family of bears mauled it for a week.

Also mine has cool ring tones.

As a $285 ticket is not in our budget, I guess Basil will just have to use patience and make phone calls before he leaves work or wait until he gets home. He definitely doesn't want to have to blog about having to pay a $285 ticket.

And I would make him.

Was doing a little research on this info, and I've found that the law doesn't go into effect until 7/1/08. There is conflicting information, so to be safe, I think I'll advise Basil to start now....just in case.

I Bought a Car!

Last night I drove the car we'd looked at yesterday. The interior was great and it drove well. The A/C and stereo even worked. Yes, the key was stuck, but you could actually take the entire cylinder out, and I think we'll have that looked at to see how much it would cost to fix. Also, the spare tire needs replacing, but he took $100 off the price. Being a research junkie, I checked out the Kelly Blue Book value and even with all the miles, it was a good deal. Plus, my boss had helped his nephew buy a car a couple of years ago and it was an '87 Camry with the same number of miles, and he's still driving it and has had no problems. Of course, now I feel like I should be cutting back on spending even more, even though I have the cash in the emergency fund. It doesn't help that I went to the dentist yesterday for yet another crown, paid my $178 outstanding bill (which doesn't include the crown), and have yet another crown due in my future. (My teeth that have 20-year-old silver fillings in them are now cracking in half. Ugh!)
On the plus side, I called Number One Son to tell him the good news and he said congratulations. I told him it wasn't for me, but for him. He was silent for a few seconds and then profusive with his thanks. Now he wants us to send photos (he's away for the summer).
So even though we were going to wait to buy him the car, I feel like we found a good deal and we'll be paying cash for it tonight. I told Basil he could drive it this summer on the 95+ degrees because he's doesn't have air conditioning. He said that maybe he'd keep it and give the boy his car that has no a/c, not much of a radio and the right-side passenger window that doesn't roll down. I told him he'd have to check with the boy.

Using the Emergency Fund Already....

I was so excited to get my emergency fund pie chart up, and now I may be updating it...but not for the better. Basil and I were planning on buying Number One Son a car, or helping him buy one next spring for summer internships, etc. Nothing fancy, just dependable -- and cheap. Well, since we've been talking about it, we've also started commenting on cars for sale that we see. Usually we're joking as they're old giant SUVs or cars where one door is a different color than the rest of the car. This morning after an early hike, we spotted one on our street for $1750 -- and it actually didn't look too bad. Basil went back and looked at it (a Toyota Cressida) and said it was automatic, had a moon roof, and looked well-taken care of. He was home from work today, so he contacted the owner (a teenager, but "clean cut") and took it for a drive. It was a 1989 and had over 250,000 miles on it, but they'd just put a transmission and a radiator in it. All the power locks and windows worked. The only "minor" problem with it is that you can't take the key out. I asked Basil, "What do you mean you can't take the key out?" Well, apparently if you take the key out the steering wheel locks up and you can't get it back in. Hmmmmmm.... Basil assures me that he can rig something to hide the key. So I'm taking it for a drive tonight to see for myself.

I'm Out of Debt!

I got a statement from my car financing company yesterday and was ecstatic to see that the balance due was $0.00! The statement was 31 of 60 which means I paid the car off in half the loan time -- 2 1/2 years instead of 5. This is the first new car I've ever purchased because I said I'd never purchase a new car because they lose value when you drive them off the lot. Well, the new 2005 PT Cruiser models had just come out and I was finding the used ones to be only a few thousand dollars less than the new ones. The list price on the 2004 model was $19,500, and I had $5000 for a down payment and only wanted a $10,000 car loan. I didn't want a car payment of more than $200 a month because we were in the process of moving across the country. I lucked out because my car salesman was new to selling cars and was previously a computer salesman, so he didn't have the hard sell down or the gold chains. Once we were seated in the office, he brings in the "accountant" (who was wearing gold chains and had an oily sheen about him, along with a tough guy accent) to run the numbers and he come up with a figure of a $5000 down payment and a $10,000 loan, but it didn't include the taxes, title, and all the junk that comes with it. I said I wasn't paying for that and I didn't want the total loan to come up to more than $10,000. He left the room and came back and said he got it down but that I'd still have to pay the license and some other additional items. I was adamant that I would not have a loan for more than $10,000. Gold Chains left the room and came back looking exasperated and said "Fine. Your loan is $10,000. Are you happy?" Well, he didn't say the last part, but I could tell he was thinking it. Basil couldn't believe I did it. $10,000 was the biggest loan I'd ever had before and it was a little frightening. My car is 2 1/2 years old, 36,400 miles, and paid for. I plan on driving it for at least another 8 or 9 years, unless I save up enough money and can find an electric car before then. So now I'm out of debt, but as I have one son in college and another one starting in a year or so, I don't plan on having tons of extra cash lying around. I have a 401(k) from a previous job and a Roth IRA that I haven't contributed to yet this year. I have around $3,000 in savings and want to save for a trip to Australia and New Zealand before I have to see them with a walker. Now I have to figure out my next step.

My Car's Almost Mine!

Made a payment of $1700 on my car yesterday and now the balance is $1618.03. My state income tax is still pending in my checking account and the additional good news is that I sold two paintings over the weekend, so I'll definitely have enough with some left over for a weekend family trip in the late spring. The financing company now says my next payment is $171 and due in November of 2008. I'm planning on paying it off before the end of the month and I'll keep checking my on-line banking to see when the checks clear. It's not even registering with me that I'll be debt-free once this is paid off. And the odometer is 35,600, so I could actually have it paid off before the 36,000 mile warranty expires!

Tax Refund Came Through

Yea! Got a nice surprise when I went on-line to check out the bank account because with our rent going up and some other unexpected expenses, I was unsure if we had enough funds to cover everything. Noticed a huge amount in the checking account and found out my federal income tax refund came through. And just now when I checked to see the actual amount, I found that the state refund came through as well. That's a total of $3563. It's a lot because I only claim myself and my Number Two Son on my W-4 form, but my Number One Son recently moved across the country and is attending college near me, so I got to claim him on my taxes. I know I need to add him to my W-4 so I don't let the government use my money interest-free all year long, but my human resources person is a little scary and you have to approach her when she's in a good mood. I've already asked her once, and reminded her this past Friday. Hopefully by next week I'll get it changed which should help out with the rent increase. This refund is supposed to pay off my car, but I have a rather high credit card bill that includes my broken tooth ($374) and an airplane ticket for my Number Two Son ($279). Plus my Number Three Son is visiting on his spring break this week, so I think I'll leave a little in the checking account for "dining and entertainment". At he's 14, the dining bill could be rather high. Also the state refund is "pending", so I can't really spend it yet. I'll check into how much I actually owe on the car and post after I make a payment.

My Car Financing Company Hates Me!

The reason it hates me is because I'm paying my car off earlier than the loan period. The past three months I've made $500 payments instead of the originally $198 specified in the original loan agreement. I'd been paying more off anyway, so my minimum payment had been going down and due farther into the future. They don't want to lose any of that interest. So a month ago my minimum payment was $117 and not due until July. I went ahead and paid $500 again at the beginning of March. I check on-line to see when my next payment was -- September and then they only wanted $11. They really don't like me. We got the $1000 security deposit refund back and I paid another $900 this week toward the car. I just checked on-line (my loan isn't supposed to be paid off until September 2009), and my next payment due is $97....in February 2008! For them to make their money, they want me to wait a whole year to make my next payment! It's surprising how much you can save by just paying a little more than the amount due, even if it's just $10-$20, because you then aren't paying interest on that portion. Once my income tax return comes back I think I'll be able to pay off the whole amount -- then they'll really hate me.

One payment closer to mine....

Paid $500 more toward my car for my March payment. I like the fact that my car financing company doesn't want me to pay anything until July 17, and then only $117. I feel like I'm getting ahead. Did some quick figuring, and at this rate I'll have it paid off by Christmas. Hopefully I'll be able to make an extra large super-gigantic payment when I get my income tax back, so it'll be paid off sooner. But just realized I have to fly my son to visit his father this summer - plane ticket: approximately $425. I also wanted to fly to visit my 96-year-old grandmother because she hasn't been doing very well lately - another $250-300. I guess the dream of owning my car free and clear may have to wait.

Car-tastrophe...avoided!

Whew. That's what I get for thinking negatively, I guess. Our trusty mechanics let me know that the brakes were fine and that my oil level was getting pretty low and I needed an oil change. They performed the oil change and also replaced a bald rear tire with a used, but perfectly tread-tastic tire. Total cost: $49.51. Hate to pay even that, but I was bracing for hundreds.

Now my car is back on the streets once more, to be laughed at by small children and the elderly. Teens? They just sneer and flip the hair out of their eyes.

28th Car Payment

I just made my 28th of 60 car payments, and decided that my goal this year was to pay off my car - all $5632 of it. So my payment this month was $500. I figure that if I can keep that up, it will be paid for by fall. That's my only debt, since I don't use credit cards, unless I pay them off in full the following month.