frugal friday 12.13.24

Thanks to taking a seasonal position at Kohl’s, I haven’t had much time to post here in a few weeks. Let’s catch up.

1. Pay down credit card debt on 2 credit cards – We had an expected expense and quite a few unexpected expenses this fall which we decided to put on our credit cards. I also have an additional car repair and 2 insurance claims to add to the debt. I got a job and became a seasonal associate at Kohl’s. I worked at Kohl’s in the Philly area and enjoyed my time there. I created a financial snapshot showing our debts and credits and posted it by my desk. The goal is to pay off the debt by mid-February without touching savings.
2. Investigated when we could drop the PMI on our mortgage – while this turned out to be an intellectual exercise and didn’t save us money, I’m glad I did. I now have data to help us make future decisions when we’re able to. I’d like to get us to the moment of getting rid of the PMI sooner rather than later which will take some sacrifices.
3. Started actively watching and working on our investments – Instead of letting the safer investments just do their thing, I moved money into higher return avenues. I’m doing this with small amounts and watching how things go.
4. Found 2 banks with higher interest rates for CD’s and savings accounts – For years, I had 5 CD’s through Capitol One and just let them roll over. This month, I found AllyBank which has a good interest rate for 6 months, and put money into 2 CD’s there. Yesterday, I started a savings account at EverBank for home repairs and appliances. Knowing our roof will need to be replaced soon (it’s 20 years old), and understanding the washing machine may need to be replaced, I wanted to have money saved to take care of these items.
5. Evaluating our budget for ways to spend better – As part of my Annual Review, my husband and I have been discussing our budget. We came up with a draft list of budget categories for me to work on such as electricity, cell phones, streaming services, and groceries. Over the summer, I looked at the budget and it’s time to look at it again. I’ll be sharing what we do starting in January.
6. Asked for our unclaimed property! – Thanks to a tip from a friend, I discovered I had unclaimed property possibly being held by the states of Pennsylvania and Wisconsin. Basically, I had left money in bank accounts in PA which I was able to request and receive last week. This week, I’m doing the application for Wisconsin. We’re not talking a fortune, but…it’s money that can go into one of our various savings accounts.