Denali Northern Expenditure

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April 2019 Plan Update

Since it’s almost June, I figured I should back it up and talk about April before the month completely escapes me. April was a great month. Still spendy as we finished up our big purchasing, but we’re starting to get back on track. We also introduced our children to a rudimentary budget we attached to the fridge. After each shopping trip (or for each field trip cost, piano lessons check, etc), they had to write the amount in the category it fit into and then deduct that amount from the total we set for the month (you know, like balancing a checkbook! Imagine that!). It went well. They started realizing how much things cost and got a better sense of: If we do this, we can’t also do that. We’re continuing it for May.

In other news, we managed to max out my Roth IRA by the deadline despite our high spending! I also headed to the office for a week and, though it is lovely to interact with coworkers, I do not know how people go to offices every single day.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Mortgage is still at $ZERO!

Investments have moved to $262,900 (by the end of April). Again, cash hoarding now. But I’ll be adding our cash hoard to this stash as well. So “Investments” will basically mean all savings in all varieties. I’d love to hit $300k by the end of the year, markets willing. But LOOK! We now have a QUARTER OF A MILLION DOLLARS saved! And are halfway to our original goal of $500k! So very, very exciting!

2019 Financial Goals (REWORKED):

  • Max Out My 2018 Roth IRA ($5,500/$5,500) – Thanks to the totaling of the car, WE DID IT!
  • Max Out My 2019 Roth IRA (0/$6,000) – Not yet.
  • Max Out Mr.T’s 2019 Roth IRA (0/$6,000) – Not yet.
  • Replenish Emergency Fund ($1,200/$1,200) – Because our emergency fund is in a Capitol360 account so we can use it for free ATMs while traveling (but the account only earns 1%), we lowered our emergency account goal from $5000 to $1200. Then we changed this goal:
  • Extra Investments ($300/$45,000) – Nothing new this month because we had to come up with the $2,500 to max out my 2018 Roth IRA. But we’ll catch up. $45k by the end of the year still seems like a big stretch. But you know, aim for the moon and you’ll fall among the stars or whatever. 😉

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook (prepare to be judg-y this month!):

  • $616.15 – My car needed new brake pads – bonus: They washed it!
  • $35 – My haircutter moved at the end of April, so I had to chop off all my hair before she was gone!
  • $699 – A new camera because ours stopped turning on.
  • $690 – A new mattress – Mr. T has been wanting one for awhile since ours was 13 years old and starting to hurt his back a bit. I wasn’t on board until this month. I spent an entire weekend in bed sick and my back was killing me by the end of it. We ordered a new mattress that night.
  • $69.85 – We took the kids to the local brew pub theater to eat pizza and watch the new Apollo 11 documentary. To celebrate the 50th anniversary of the moon landing, we’re headed to see the command module in Seattle this summer.
  • $510 – The last of the ferry tickets needed for this summer’s adventures on the Alaska state ferry!
  • $749.20 – Plane tickets to San Francisco in August to take Mr. T to see Hamilton! (It will be lovely to have another trip with just the two of us.)

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “I just want a credit card with no limit and that I don’t have to pay. Obviously there wouldn’t be jobs. I would just travel with it.”
  • “I’m pretty behind on retirement after the attorney fees for my divorce.”
  • “I know a lady that has no idea if they even have retirement funds. I mean, she’s nearing sixty and has no idea how much is left on her mortgage or if they even have anything saved.”

December 2018 Plan Update

December has come and gone and it was glorious. We ice skated, we went sledding, we built a luge track behind the house, and we ate so much delicious food. We’re good at hygge up here in Alaska. Candles. Heated blankets. Family time.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Our mortgage is now at $1,900! This is BIG NEWS. That means 2 things: 1) we have made our last EXTRA payment toward this mortgage EVER and 2) the house will be paid off with our regular mortgage payment next month.

Investments have fallen to $204,000. At least we managed to keep it above $200k for the year. And, not that we’re trying to time the market, but I don’t regret our extra mortgage payments this year one bit! 2019 is when we’ll be able to start upping our investments. We’re the best market timers ever. 🙂

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $1,900 – Okay, we’ll be one month late, but we made ALL THE EXTRA payments in 2018 so this is a pretty big win anyway!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1896.40 – Earned (with just shirt sales online): $19,216.46, Spent: $10,412.86 (Europe Trip) + $10,700 extra mortgage payments. It doesn’t look good, but consider we’re done with all the “spending” and now just have the earnings left. So, after the December payments come in January, we’ll be doing a Q4 recap… the moment of truth. Think we’ll make it?
  • Max out Mr. T’s 401k – We got to $18,000 – I’m counting it because I never got around to changing it (and I don’t think he knows how). I’ll change it in January now that the limits rose again to $19,000/year.
  • Stretch Goal: Put $5500 into My Roth IRA – Nopety-nope.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Nopety nope.

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook:

  • $16.85 – We were able to get the two books Florin wanted for Christmas at the cute local bookstore. Yay for supporting local!
  • $209.11 – My part of the health bill for some tests back in the summer when I had bronchitis. Finally came through. Finally had to pay it.
  • $20.49 – More of that above healthcare bill. This part from a lab. Healthcare is confusing.
  • $1.08 – Price of two sundaes at McDonald’s (after using the last of a gift card) to tell my girls about Santa. I told them about how magic is created and they’re part of Team Santa now. It ended up being really cute because they came home and helped Lui write his letter to Santa.

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “I have a secret shopping problem.”
  • “I think the pressure to buy his wife expensive gifts really motivated his career.”
  • “We finally got our retirement stuff set up and the company started doing profit sharing. It’s nice!”

November 2018 Plan Update

Well November was uneventful for the Banks family until the very last day when we were hit with a 7.0 earthquake. We have lots of quakes here, but that was by far the biggest one we’ve felt as the epicenter was pretty close and it wasn’t very deep. It was a solid minute of shaking both side to side and up and down. We had tons of stuff fall down in our house, but miraculously, nothing broke. We’re all safe. The kids are just headed back to school today after a week off for the district to clean up the schools. Now, 10 days later, we are still having nearly 1-2 aftershocks of 4-5 magnitude every day and hundreds that are less than that. This interesting video shows all the aftershocks we experienced just in the first 48 hours. Needless to say, we did not sleep well for a couple nights.

So, now that the kids are back in school and we’ve gotten cleaned up here at home, we’re finally getting back in to the swing of things around here. Thank you to those that reached out to make sure we were safe. It felt good to be checked on.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

First the exciting news: our mortgage is now at $5,500! This amount is killing me. Like, shouldn’t I be able to just come up with that and pay it off immediately?! So. Close.

Keep in mind this was at the beginning of the month, but at that point, our investments totaled $221,700. With so much focus on paying off the mortgage and living my life, I’ve hardly been paying attention to this number at all. (If it falls below $200k, I’ll certainly notice though!)

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $5,500 – We’re working our tails off to try to get this killed before the end of the year, but even if we fail this goal, we’ll be able to kill it in the first couple months of 2019, so I still feel okay about it. But, I haven’t given up total hope yet. It’s still possible! (okay, less possible, but a miracle could happen.)
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$996 – Earned (with just shirt sales online): $17,717.04, Spent: $10,412.86 (Europe Trip) + $8300 extra mortgage payments – Details can be found in the Merch Challenge Q3 Update with another one coming out in January.
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. But, we’ll hit $18,000 anyway, so pretty close.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Markets down. Not looking possible this year. Oh well.

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook:

  • $32.50 – Tickets to Ralph Breaks the Internet with the family. We all enjoyed it!
  • $93.05 – Black Friday at Fred Meyer. I head there around 2pm and buy my half-price socks and underwear for the family for the year. And I bought myself some leggings.
  • $221 – Podiatrist payment for Mr. T.

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “Earthquake insurance is expensive and not even worth it because the deductible is like 10-20%.”
  • “The house basically fell off the foundation. We helped them clean up a little bit, but they don’t have earthquake insurance, so what do you say? ‘Good luck’?”

October 2018 Plan Update

Better late than never, amiright? This October 2018 plan update is a couple of weeks late, but that is because we decided to take another epic family trip. As if a month-long European adventure wasn’t enough, we also decided that we would pack in a good old fashioned American road trip. So, in mid-October we flew to Bozeman, MT and drove from Yellowstone to Minneapolis seeing: Yellowstone, Grand Teton, Black Hills, Devil’s Tower, Mt. Rushmore, Wind Cave, Badlands, and, of course, the corn palace. 🙂 We had a fabulous time, saw amazing things, had beautiful fall weather, and arrived home in time for the first real snow of the year.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

First the exciting news: our mortgage is now at $8,000! It’s so close! Maybe not end-of-year close, but very, very close!

Now for the investments: Since starting this blog in June 2015, our net worth has only dropped 5 total months. October 2018 is one of those months. When your investments aren’t bonkers high, the downswings aren’t has dramatic. All in all, month over month, our investments are only down about $16,000. Our investments now total $212,800. Are we worried? Nope. Why not? This is precisely what we planned for. Markets go up. Markets go down. We’re in no need of the money anytime soon. We’re going to let it ride.

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $8,000 – We’re working our tails off to try to get this killed before the end of the year, but even if we fail this goal, we’ll be able to kill it in the first couple months of 2019, so I still feel okay about it. But, I haven’t given up total hope yet. It’s still possible!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1,483.98 – Earned: $16,141.73, Spent: $17,112.86 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – For the most up-to-date, detailed information, check out our Merch Challenge Q3 Update.
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. But, we’ll hit $18,000 anyway, so pretty close.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Markets down. Not looking possible this year. Oh well.

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook:

  • $13.80 – I also headed to the office this month. My manager paid for my lunch, but I bought my coworkers some dessert to share.
  • $131.55 – Our annual IKEA shopping trip we do when we go out of town. New washcloths, a drying rack, couch pillows, etc.
  • $39.20 – Our annual Trader Joe’s run. Mostly pumpkin butter and truffle brownies. I’ll be honest.
  • $62 – Delicious Indian food in Minneapolis. So. Yum.
  • $41 – Roadtrip DQ dinner and blizzards.

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “I really want to be home with my kids but I can’t because we’ve got some pretty lofty financial goals right now.”
  • “When my kids go back to school, I probably start up a craft business again. It’s always in the back of my mind.”
  • “The drunk driver program seems unfair. If you have to call in at 8am every day and attend classes most evenings after work, what happens if you don’t have a job, a phone, or a car?”
September 2018 Plan Update

September 2018 Plan Update

So I’m actually late for a reason this time. You see, I waited until our PFD hit to pay our mortgage for September. We have a ten-day grace period before a late fee hits… just enough time to wait for the PFD and get the sucker down! More on that later.

Life is grand. Instead of attending FinCon this year, I attended a t-shirt sellers conference in Seattle. It was fantastic meeting other sellers and it turns out sales have been pretty flat for everyone this year. That’s good to hear that it isn’t just me. But the question is whether that will bet better or if the days of organic sales are over. 2019 may be brand-building for us. We shall see.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Our mortgage is now at $9,480 – This is BONKERS! We’re below 10K – PARTY PARTY PARTY PARTY. So dang exciting! Thanks to our PFD, we were able to get this below 10k.

The PFD is an oil kickback given to all Alaskans. In previous years, it was calculated based on a complicated algorithm of investment returns. In recent years, they’ve capped it. This year should have been nearly $3000 but was capped at $1600 per person. That means our family received $8000.

I may have thrown too much money at the mortgage this month, however, because I almost overdrew the account the next morning. Luckily, my paycheck hit at the exact same time and saved the day! I think finding balance is getting especially hard for me now that this is so close to being DEAD. I’ve turned us into a living paycheck-to-paycheck family. It’s not a great feeling. But look at that mortgage balance! It is relieving to know that this will be gone by the end of July 2019 if we pay not a penny extra. Maybe that means I can chill out about it and give up on the end of 2018 goal? Or maybe I’ll just have to be insane for another three months? Hard to say where I stand right now. 🙂  I did, however, save nearly $30 in overall interest by waiting to pay the September payment after the PFD hit! (spreadsheets to the rescue!).

Investments are now at $228,700. Still ticking up. It’s been especially interesting these past few years of market steam watching our Roth IRAs tick up even without added investments. I’m watching the power of the market! Someday, it will end. I realize. But overall, we trust the market to keep going up long-term and our plan is based entirely on that.

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $9,480! Can you believe we’re under $10k! 4 digits, baby! I’m over the moon about this. I’m still not sure if we can kill it entirely by the end of the year… it’s starting to look less and less likely, but my fingers are still crossed tightly!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1,483.98 – Earned: $15,628.88, Spent: $17,112.86 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – August was another below $500 month for shirt sales. This Q4 doesn’t look like it will be anything as great as last year’s even though we have nearly 10x the amount of products listed. A full Q3 update will be coming next week! Buckle up!
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. We’ll probably make a contribution toward the end of the year to top it off.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Not yet.

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook:

  • $75 – Lui’s preschool.
  • $170 – A month of piano lessons for the girls.
  • $123.25 – Dental visit for girls – sealants are only partially covered by insurance.
  • $46 – School pictures for all 3 kids (we get the smallest possible package to send one to the grandparents).
  • $22.80 – Mr. T and I went to see AntMan for my birthday at the beginning of the month,
  • $36 – then we went out to lunch while the kids were in school.
  • $25 – Donorschoose donation to one of my kids’ classrooms.
  • $4.99 – The button on my jeans snapped as soon as I made it through security in Anchorage to head to my conference. I had to buy a sewing kit for the tiny safety pin to keep my pants up until I got to my hotel in Seattle. Talk about a story the money tells. 🙂

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “This expense might just be the straw that breaks the camel’s back for them.”
  • “We just bought a root canal for $100 at an auction, so I feel like we’re winning. My husband had to get two in the spring and we’re still paying those off.”
  • “I really don’t want to go back to being house poor.”
August 2018 Plan Update

August 2018 Plan Update

So I’m a few days behind, but I’ve gotten really good at living life these days, which is something I’m proud of. I’m currently balancing my part-time job and building our t-shirt business. Over the next few months, we’ll see how all that plays out. It will be an interesting ride when the buyers start coming!

August was an amazing month in the Banks house. It began with my sister’s family visiting from Texas and we were able to show them Alaska, which is one of my favorite things to do. We did all the usual Alaska things we enjoy: saw humpback whales from a boat, hiked on a glacier, went on a bike ride, and ate lots of yummy food (including several forms of salmon). And the month ended with the kids back in school and all of us figuring out schedules again, which is another form of joy. It’s been a fabulous summer, but it’s also always nice to get back into a routine.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Our mortgage is now at $18,400. Not much to add here this month. Just LOVE watching it drop. Can’t wait to celebrate getting it below $10,000!

Investments are now at $224,870. It’s been an amazing market run. It’s actually making me a bit nervous how high things have gotten. But I’m also loving how close we are to a quarter of a million dollars (and halfway to our original goal of $500k by 2022!)

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $18,400! Oh my goodness. So excited about it dropping and dropping! The PFD is coming at the beginning of October, so by November, this should be almost half of what it is now!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1,924.92 – Earned: $15,187.94, Spent: $17,112.86 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – Remember how I said June was our most depressing month of sales? Ha! July and August are worse. But, fingers crossed for September to be better. And a Merch Challenge Q3 Update is coming in a month! So get excited for detailed numbers!
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. We’ll probably make a contribution toward the end of the year to top it off.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Not yet.

Notable Expenses This Month: The Story Our Money Tells:

These are expenses that tell an interesting story. A peek into our lives through our pocketbook:

  • $120 – Breakfast for all of 10 of us with my sister’s family here.
  • $70 – The cost to hike the glacier with my family.
  • $10.08 – Frozen Yogurt to celebrate the first day of school.
  • $499 – The ticket for me to go to a t-shirt-selling conference in September! I’m very excited (but sad I’ll be missing FinCon this year).
  • $29.85 – 3 National Park Passports for my kids. Getting ready for the fall road trip!
  • $85 – My family admission to the the wildlife conservation center. We got to see the cute little baby bear climb a tree! (And got to see some idiot try to pet the bear through the fence. This is when I tell my kids: “Adults can be idiots too. Don’t be an idiot.”)

Financial Phrases:

These are things said by actual people that were either talking to me or near me enough that I could hear them:

  • “All of my money from my new job is going toward our mortgage!”
  • “Employees who are just trying to pay their mortgage put their heads down and don’t cause waves.”
4 Week Europe Trip Costs + Merch Challenge Q2 2018 Update

4 Week Europe Trip Costs + Merch Challenge Q2 2018 Update

As a reminder, we’re trying to pay off our mortgage and take our family on a 27-day Europe trip with just t-shirt sales in what we call the Great Banks Merch Challenge.

I’ll be providing quarterly updates. This one is 2018 Q2 update:

The Current Merch Challenge Numbers

Final Trip Costs: Reminder that this was a 4-week, 27-night trip through NYC (2 nights), England and Wales (16 nights), Norway (5 nights) and Iceland (4 nights) for 5 humans! It was absolutely spectacular and the best use of money ever.

  • Flights: $2,035.48 – This amount includes :
    • Flight from Anchorage to NYC for a day before flying to England (we used Alaska miles for this leg + $28 in fees)
    • Flight from NYC to London (we used AA miles for this leg + $28 in fees)
    • Flight from England to Norway (paid Cash, SAS airlines – $355.63 for all 5 tickets)
    • Flight from Norway to Iceland (free layover for 4 days) to Alaska (paid cash – $2,123.85 for all 5 tickets)
    • – $500 – from our sign-up bonus on the Barclay Arrival+ card. Yay for a $500 discount!
  • Lodging: $2,859.50 – All lodging:
    • 3 nights in London, England – $677.01
    • 1 night just outside Reykjavik, Iceland – $250.49
    • 3 nights on the Golden Circle in Iceland – $681.03
    • $1000 worth of discounted AirBNB gift cards we’ve used to purchase lodging in England and Norway – $910
    • 2 nights in Bergen, Norway – $340.97
  • Transportation: $1,712.29
    • Norway Car Rental: $294.26
    • UK Car Rental: $364.71
    • Iceland Car Rental: $307.35
    • Airport Shuttle from Newark – $48
    • Airport Shuttle to Bergen – $26.35
    • Bergen Funicular – $36.39
    • Public Transportation Costs – $229.18
    • All petrol – $359.72
    • All parking – $46.33
  • Stuff: $1,487.17 – The gear (which we won’t have to purchase again for the next big trip!) plus the souvenirs:
    • Passport fees for the 3 kids – $315
    • Global Entry for all of us – Free (thanks Amex Platinum card!)
    • Travelable booster seats for all 3 kids (their normal ones are way too bulky to travel with but we wanted to be safe/legal) – $103.97
    • Travel Backpacks for the girls (Lui will use his small school backpack) – $204.30
    • GPS with all Europe maps (which we will use for all future Europe trips) – $149.90
    • Souvenirs (including an Icelandic sweater for me, a sweater for Mr. T and a jacket for me from the Dale of Norway factory store, a few Christmas gifts, a retro Iceland winter hat for Mr. T, a few new outfits for me and the kids from England, and the kids’ souvenirs) – $714
  • Experiences: $1,468.95
    • Empire State Building – $70
    • Tickets to see Matilda the musical in London – $348.15
    • Tickets to the Harry Potter Film Studio outside London – $183.73
    • Westminster Abbey Tickets – $62.63
    • UK Family National Trust 14-day Touring Pass – $104.79
    • London Eye – $160.72
    • Tower of London – $99.95
    • Wales Castle Explorer Family Pass – $60.07
    • York Minster – $29.64
    • Borgund Stave Church, Norway – $34.99
    • Oslo Passes – $260.18
    • Kerið Crater Entrance – $7.30
    • Geothermal Rye Bread Experience – $41.28
    • Public Toilets in Iceland – $5.52
  • Food: $849.47 – We bought mostly groceries, but did eat out occasionally. We were also spoiled by my parents for a week when we stayed with them (thanks mum and dad!).
    • New York: $171.25
    • UK: $390.98
    • Norway: $96.58
    • Iceland: $152.65
    • IcelandAir Airplane food: $38.01

TOTAL SPENT: $10,412.86

Thoughts: We went to 3 of the most expensive countries in Europe and stayed there a month! We weren’t attempting to be super frugal about this trip, but we cut costs where we could and really enjoyed it. I felt like I was living my best life traveling and teaching my kids during this past month. It was absolutely amazing.

Mortgage Costs: 

For Merch to cover the rest of our mortgage, we’re including any payments we make above our minimum monthly payments. So, these costs are the extra payments we made starting with the November mortgage payment:

  • $2,100 (November)
  • $1,700 (December)
  • $1,500 (January)
  • $0 (February)
  • $100 (March) – hopefully sales will pick up again soon so we can start shoveling money toward the mortgage!
  • $0 (April)
  • $0 (May)
  • $0 (June)

TOTAL EXTRA PUT TOWARD MORTGAGE: $5,400

Current Merch Earnings (earnings are 2 months behind as that’s when we get and report the money):

  • June: $7.07
  • July: $218.24
  • August: $810.78
  • September: $1,065.67
  • October: $3,352.58
  • November: $1,837.50
  • December: $2,627.96
  • January: $1,076.85
  • February: $695.83
  • March: $783.40
  • April: $852.67
  • May: $854.17
  • TOTAL: $14,182.72

minus our total mortgage payments and total trip costs of $15,812.86

Merch Challenge Totals: -$1,630.14

Verdict so far: Still Positive

I’m actually pretty thrilled that the entire trip has been covered with just t-shirt sales! How exciting is that?!

Now, we’ve got 6 months left of t-shirt sales to cover about $23,600 of the mortgage (about $22,000 left on it plus another $1,630.14 that we’ve already paid toward the mortgage listed above). We may or may not be able to earn $23,600 in 6 months with t-shirts alone (last year, we earned about $9,900 in the same 6 months).

However, we are getting a little help from the state of Alaska. Our PFD amount has been decided for 2019 and we’ll each be getting $1,600 (a total of $8,000). Now, we tithe our PFDs as we do with all our income, so after tithing, we’ll conservatively say we can put $7,000 of the PFD toward our mortgage. $23,600-$7,000=$16,600.

AND keep in mind that our regular mortgage payments alone will bring our mortgage balance down to about $18,000 by the end of the year. $18,000+$1,630-$7,000=$12,630! TOTALLY DOABLE (maybe. i start second guessing every time i declare something like that!) Do you think we can do it?

June 2018 Plan Update

June 2018 Plan Update

Since I don’t want to inundate you with pictures or info about our trip, I’ll just give a quick run-down here in the June 2018 Plan Update (since our June was almost entirely overseas!).

We started the trip with an amazing two days in NYC. I was able to see Hamilton with a friend of mine. She paid for the tickets and wouldn’t tell me how much they cost. Mr.T, in his infinite wisdom, told me that I should respond in-kind instead of attempting to pay her back monetarily, so I’m coming up with an equally-stunning excursion for the two of us, my treat (perhaps a weekend to Seattle to see Dear Evan Hansen?).

On the flight to London, I left my phone on the airplane. Oh well. It did mean we had to drive to the airport after staying in London for a few days to pick up the phone. Could have been much worse. In London, we took the kids to see Matilda and they loved it. We also got to enjoy the amazing kid activities at the Tower of London, go on the London eye, have ice cream cones with Flakes, see the amazing museums, explore the Harry Potter Studios, and watch my kids become expert London tube travelers.

Lui on the London Eye

This is how Lui enjoyed the London Eye

Tower Bridge Rainy Selfie

An attempted family selfie in the rain at Tower Bridge

We then drove to Stonehenge and Avebury and then explored a whole bunch of castles all through Wales for 3 days (our favorites were Raglan, Caerphilly and Caernarfon, for the record). Each castle had an amazing “Castle Quest” for kids. Wales and castles = my favorite! Then we spent a night with some friends in Chorley, England and then drove to stay with my parents for a week in Leeds. They treated us to my kids’ first afternoon tea at Betty’s, Harry Potter broom flying lessons where they filmed it at Alnwick, and exploring in the Yorkshire Dales. Brimham Rocks is still a favorite and my kids agree! I also managed to find some clothes I like while out shopping with my mum! Yay!

Tintern Abbey

Tintern Abbey, a ruined monastery in South Wales

Brimham Rocks

Brimham Rocks is an unexpected find in Yorkshire and turns out to be one of our favorite places in England

From there, we flew to Bergen, Norway where we took the funicular up the mountain and played on one of the greatest playgrounds of all time in the troll forest.

Troll Forest Playground

We loved this playground in the Troll Forest on Mt. Fløyen

We were also able to meet up with some relatives of Mr. T who cooked us a delicious Norwegian feast and let us go paddle-boating out in the Norwegian fjords by their home. (The header for this post is the view from our hotel room in Bergen.) We drove from Bergen to Oslo, stopping to see the Borgund Stave Church, fjords, waterfalls, and then driving through the longest road tunnel in the world. In Oslo, we saw all the boat museums, the Nobel Peace Center, and ate the most delicious waffles (a Scandinavian heart-shaped waffle iron will probably show up as one of our expenses in the next few months!).

Borgund Stave Church

The Borgund Stave Church is a remarkable feat of wooden architecture from the 12th century.

From Oslo, we flew to Iceland where we were part of an Icelandic National Day parade, saw a million amazing waterfalls, ate amazing rye bread that was cooked in the ground geothermally, and stayed in an amazing cabin with a geothermal hot tub.

Iceland's National Day

We unexpectedly became part of a parade for Iceland’s National Day

Iceland Waterfall

Between the weather and the waterfalls we got plenty of use out of our raincoats in Iceland!

Overall, for a month-long trip, it was near perfection! All of our preparation with the kids really paid off as they were completely engaged in everything we were doing and seeing and never complained at all (minus poor Lui, who after about two weeks, just wanted to have a day where he didn’t have to walk anywhere!). I can’t wait for the next trip!

Reynisfjara Beach

Despite the crowd, we loved climbing the basalt columns, also known as trap rocks, at Reynisfjara Beach

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Our mortgage is now at $22,000. No extra paid this month, but next month, I really hope to start killing this thing with extra payments!

Investments are now at $206,200. Have I mentioned that since moving from a contractor to an actual employee, I now I have my OWN 401k? It’s very exciting, I know! I’m up to a whole $220! Interestingly, they only allow percentage amounts to be put in a 401k and those max out at 50%. Since I only make around $20,000/year, I can’t actually ever max mine out. But, next year, after the mortgage is paid off, you bet I’m bumping right up to 50%! I also won’t start seeing employee matches until next May since I wasn’t officially an employee before and new employees have to wait a year to have the company match anything. Boo. Oh well.

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $22,000! Now that the trip is behind us, this is HAPPENING!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1,630.14 – Earned: $14,182.72, Spent: $15,812.86 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – Details on most of these numbers can be found in our Great Merch Challenge Q1 update with another one coming Friday! – So many details coming!
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. We’ll probably make a contribution toward the end of the year to top it off.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Not yet.
May 2018

May 2018 Plan Update (Delayed!)

I cannot express to you how fantastic our trip was. It was absolutely tremendous. However, since I got sick on the way home and am now bed-ridden with bronchitis, prepare yourself for all the updates. First off, today’s May 2018 Plan Update, next Monday will be the June 2018 plan update (pared down a bit because…), then next Friday will be all of our trip costs coming at you next week in our Great Banks Merch Challenge Q2 Update. What an exciting week on the blog!

The whole trip really solidified to me how many doors open up when money isn’t a priority. Since I knew we’d be okay financially for the month I was gone, I didn’t worry about how to pay for things. I just lived. THIS IS THE GOAL. We can argue all day about terminology: early retirement, financial independence, entrepreneurship, digital nomads – the point is that WE save money so we can do WHATEVER WE WANT!

It was so freeing to just spend the money when we wanted to spend it and not have to live around working. We’ve already developed habits of money spending that enable us to not want to go crazy when we can. We’re still conscious about spending money on things that are important, but we also don’t want to feel like we’re giving too much up doing so. But the things we don’t care about, we don’t spend money on.

I did do some work while I was on the trip – not much, but some. And being on vacation with my family really helped me identify what I actually WANTED to do and what I didn’t. I enjoy some aspects of work. I’m going to focus on those. If I lose my job in the meantime, so be it. I also discovered that I actually still love this whole designing and selling shirts thing. It’s fun. I enjoy it. I’m not just doing it for the money.

I just calculated all of our costs and I don’t regret any of them. We were really good at aligning our money with our values and I committed to keep spending money on travel with the family. It’s absolutely our first priority for spending our money.

Sometimes a one-month “trial run” of financial freedom is just what is needed!

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

Our mortgage is now at $23,100. With the trip behind us, we have 6 months to kill this. If we pay no extra on our mortgage, we’ll end the year with an $18,000 mortgage balance. That means we just have to come up with $18,000 before the end of the year! I’m hopeful. Especially since we’ve got $7000 of the PFD going toward it in October. That means just $11,000 extra to add!

Investments are now at $205,580 (as of June 1). I was right! We went back to hitting another big number while we were on vacation! If you’ll recall when we hit $100,000 Mr. T and I were in the UK as well (and I got obsessed with the idea of hitting money milestones while on vacation)! It’s only right that we hit the second $100,000 while back in the UK with the family (we’ve hit it before, but it went back down and now back up)!

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $23,100 to go! We’ve learned that I’m a terrible multi-tasker when it comes to financial goals. With the trip behind us now, I’m putting my head down and working hard to get there!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$1,630.14 – Earned: $14,182.72, Spent: $15,812.86 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – Details on most of these numbers can be found in our Great Merch Challenge Q1 update with another one coming next Friday! – Back in the negatives, but I think we’ll be able to do it!
  • Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. We’ll probably make a contribution toward the end of the year to top it off.
  • Stretch Goal: Put $5500 into My Roth IRA – Not yet.
  • Market-Based Goal: $250,000 in investments by the end of 2018 – Not yet.
December 2017 Plan Update (and 2018 Financial Goals!)

December 2017 Plan Update (and 2018 Financial Goals!)

Ah… December. I do love the holidays with the kids home and Mr. T having so many days home as well. December was glorious. We really could have used more snow, but we did at least get a few good days of hoar frost where all of Anchorage was magical and white.

The Numbers:

Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)

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