Denali Northern Expenditure

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Merch Challenge Q3 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 Q3 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.

For a complete break-down of each of these categories, check out our Merch Challenge Q2 Update.

  • Flights: $2,035.48
  • Lodging: $2,859.50 
  • Transportation: $1,712.29
  • Stuff: $1,487.17 (The Gear + Souvenirs)
  • Experiences: $1,468.95
  • Food: $849.47

TOTAL SPENT: $10,412.86

Verdict: DONE! Paid for with our first 8 months of t-shirt sales. How amazing is that?!

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)
  • $0 (April)
  • $0 (May)
  • $0 (June)
  • $0 (July) – Man, the trip really stunted our mortgage payments! No regrets, but we better hit it hard in the fall!
  • $900 (August)
  • $400 (September)
  • $0 (October – we actually put $8000 extra toward it, but that was PFD money, so we’re not counting it as part of the challenge)

TOTAL EXTRA PUT TOWARD MORTGAGE: $6,700

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
  • June: $474.21
  • July: $531.01
  • August: $440.94
  • September: $512.85
  • TOTAL: $16,141.73

minus our trip costs of $10,412.86: $5,729.73

then we subtract our extra mortgage payments of $6,700 to get our

Merch Challenge Total: -$970.27

Verdict so far: Still possible, but looking unlikely.

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

Although Q4 will be a bigger hitter with income, it doesn’t look like we’ll be able to match last year’s Q4 sales numbers despite having nearly 10x the listings on Amazon that we did last year. There are several reasons for this. Since the beginning of the year, the competition has increased exponentially. The t-shirt selling business isn’t quite the gravy train it once was (though there’s still money to be had). Amazon has also decreased royalty payments per shirt and sellers are now on the hook for returns which get deducted from our totals.

Our mortgage is currently at $9,480, but with regular mortgage payments, we just need $6,300 extra to pay it off by the end of the year. That means, with our current challenge numbers of $-970.20, we need to earn a total of $7,270.27 by the end of the year to complete our challenge.

Again, it’s possible we hit some amazing trend by the end of the year and knock it out of the park, but based on current trends, it isn’t looking likely. BUT, I haven’t given up hope. And I’m already impressed on how much progress we’ve made on this crazy challenge!

Your Thoughts: Do you think we can do it?

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.”
July 2018 Plan Update

July 2018 Plan Update

July in Alaska is so wonderful and we enjoyed our time at parks, on bike rides, and going fishing! We’ve been running around like crazy people this whole summer and it doesn’t look like that will end for a few more weeks when school starts again.

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 $19,980. EVERYONE DANCE! WE’RE BELOW $20,000! I threw enough extra toward this to get it below $20,000 and now I’m working like crazy to make up for doing so. 🙂

Investments are now at $217,000. This includes my $385 401k I just got from work. My newly-acquired company is terrible. I hate work so much. It’s so terrible. The company has moved from a small start-up full of entrepreneurs to giant conglomerate big business almost overnight and it’s completely depressing. However, I’m committed to keeping my job until the mortgage is paid off. So, I’ve trained Mr. T, whenever I say: “ugh, I want to quit my job” to respond with: “Just remember your 401k!” – it’s somewhat motivating. Hopefully work will improve but at this rate, I’m not all that hopeful.

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $19,980! I am SO EXCITED we got this below $20,000! This means with $7,000 of our PFD this year and our regular mortgage payments, we only have to find an extra $8500 to kill this thing by the end of the year!
  • Merch Challenge Update (paying for our 27-night Europe trip and our extra mortgage payments with t-shirt sales) –  -$2,055.93 – Earned: $14,656.93, Spent: $16,712.86 (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) – June was our most depressing month of t-shirt sales for a long time. We made less than $500. We haven’t really had time this summer to hit it hard again, but we’re hoping next month we can really get going because we need our sales to dramatically improve!
  • 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:

  • $44.99 – That heart-shaped Waffle iron I warned you about
  • $439.63 – Dipnetting Costs
  • $33.27 – Batting and backing material for a denim quilt Florin and I have been working on for her.
  • $66.98 – School clothes for the girls.
  • $77.60 – Eye exam for one of the kids.
  • $12.99 – Haircut for Mr.T
  • $30 – My haircut. I didn’t make Mr. T do it this time. He’s grateful.

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 pay some debt off every month. I don’t have enough to pay all of the bills, but I rotate so that no bill goes longer than a few months without being paid.”
  • “I feel like we’ve saved a lot at this point, but while I’m hesitant to start spending it I also don’t want to put fun vacations off til we’re older either. It’s a struggle.”
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?

April 2018 Plan Update

April 2018 Plan Update

It’s MAY, glorious MAY, wonderful MAY!

School gets out in two weeks and we jetset shortly thereafter (woo hoo!). The kids recently finished their historic timeline on our hallway walls, so we’re officially ready (minus all the actual stuff we need to do to get ready!).

I should also tell you that I did a thing! Erik from The Mastermind Within was kind enough to have me on his podcast, so if you want to hear my voice and hear more of the details about what we’re up to (instead of hanging out here as often as we once did), have a listen.

Other than that, we’re just hammering away at shirts so we can try to keep sales going while we’re on our big trip. BIG GOALS, remember?

Also, June’s plan update will probably be delayed. You know, out of the country and all…

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 $24,300. Paying no extra still. But chipping away. Q4 of t-shirt sales will determine whether we’re able to kill it before the end of the year as hoped!

Investments are now at $198,080. Almost back up to $200,000. I’m expected to hit it next month since I was in the UK when we hit $100,000. It’s only right that we hit the second $100,000 while back in the UK with the family!

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $24,200 to go! Once we get this trip out of the way, we’ll be able to start chipping at this again.
  • 27-Day Europe Trip –  $467.22 – Earned: $12,495.88, Spent: $12,028.66 (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 – We’re in the black again, though I anticipate that to go back to negative next month as our spending will outpace our earnings next month most likely.
  • 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:

  • $10 – To get a notary to fill out my I9 for my company changeover.
  • $22 – A yearbook for my daughter’s school
  • $601.20 – Flight for a big road trip in the fall to see Yellowstone, Mount Rushmore and everything in between (because one big vacation this year just isn’t enough!).
  • $174.62 – Enough grains for oatmeal for the rest of the year.
  • $19.19 – The charge to pay my taxes with a credit card – but it helped me earn 80,000 Ultimate Reward points, so it was worth it.
  • $1,026 – Taxes. Blech.

Financial Phrases:

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

  • “My company’s ____ (couldn’t hear) process is so complicated. I spent all last week just trying to get in to do the things they want me to do. I spent hours on the phone with I.T. – now multiply that by the entire company and think how much this inefficiency is costing!”
  • I was told Discovery Channel will pay you $30,000 per episode for your idea for a reality TV show.
Great Banks Merch Challenge Q1 2018 Update

Great Banks Merch Challenge Q1 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 Q1 update:

The Current Merch Challenge Numbers

Current Trip Costs:

  • 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: $2,518.53 – All lodging (except 2 hotel nights in Norway we’re still travel hack):
    • 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
  • Transportation: $658.97 – (we’ve reserved our rental car for Iceland, but won’t pay for that until the trip):
    • Norway Car Rental: $294.26
    • UK Car Rental: $364.71
  • Other Stuff: $1,217.78 – All of the other experiences, tickets, and stuff we’ve purchased for the trip:
    • 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 (to be legal in Europe) – $103.97
    • Travel Backpacks for the girls (Lui will use his small school backpack) – $204.30
    • 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

TOTAL SPENT SO FAR: $6,430.76

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!

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: $1837.50
  • December: $2627.96
  • January: $1076.85
  • February: $695.83
  • TOTAL: $11,692.48

minus our total mortgage payments and total trip costs of $11,830.76

Merch Challenge Totals: -$138.28

Verdict so far: We’re pretty darn close to breaking even on this thing, but that doesn’t mean much right now since we still have over $25,000 left on the mortgage and we still have tons to pay for on the trip (most of our experiences, castle passes, food, a few hotels, one rental car, etc.). Sales have also been pretty dismal. We now have 2000 listings on Amazon filled and we hope sales pick up for the summertime. We’re hoping to have 4000 filled at the start of Q4.  Do you think we can do it?

February 2018 Plan Update

February 2018 Plan Update

I keep feeling like I need to apologize for not filling this space as often as I used to. But then I remember you guys are my friends and the whole point of not filling this space as often is because I’m practicing what I’m preaching. I’m following the money while trying not to lose sight of what’s important (like my children, for example). So, here I am with another plan update.

February was crazy busy for all of us. We got the science fair project for Penny started (rock candy with every kind of sugar available currently growing on my counter). We spent many days reshaping our snow pile into sledding tracks, watching the Olympics, taking the kids to swimming, etc. Life is glorious, isn’t it?

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 $26,700. We weren’t able to put any extra towards the mortgage this month because we owe just over $1,000 for taxes. Blech.

Investments are now at $186,840. I told you we’d be back below $200,000 this month, but it was fun to hit another nice round number first!

2018 Financial Goals Update:

  • KILL THE MORTGAGE – $26,700 to go! If this was the only thing we were doing this year, I would feel super confident, but this big trip AND paying off the mortgage… it feels like a stretch! If we nail both of these goals this year, I will be ECSTATIC!
  • 27-Day Europe Trip –   -$487.75 – Earned: $10,996.65, Spent: $11,484.40 (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) – We didn’t put any extra toward our mortgage and didn’t pay for any trip costs this month. Sales are low this time of year and next month is going to look worse than this one!
  • 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:

  • $24.26 – Batting to finish a quilt I got in the mail from someone who made the top for my wedding 12 years ago and then never got around to finishing the quilt. Now I need to figure out how to finish it! LOL!
  • $9.99 – This is a monthly fee, but I’ll only include it once. Mr. T has photoshop on his computer, but I wanted to get more into photoshop myself, so I signed up!
  • $8.97 – Carl’s Jr. dinner for my children for Lui’s birthday.
  • $15 – The cost to pull the police report to file to insurance to replace our neighborhood mailbox that got plowed over by a car in December.
  • $15 – Taking a friend out to peanut butter pie for her birthday.
  • $77 – Mr. T and I went out to a semi-fancy restaurant with friends on a double date. It’s fun to do this on occasion.

Financial Phrases:

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

  • “$7,000 isn’t a lot a lot, but I could have stretched it pretty far.”
  • “When you have a mortgage, three car payments, student loan debt, and credit card debt, a $5,000 tax bill is enough to crush you.”
  • “I decided I’m going to use my birthday money to buy an ukulele.” – This is Penny. And don’t worry… you’ll probably see an Ukulele in our expenses for next month. (shhh. Don’t tell.)
2018 Non-Financial Goals (and 2017 recap)

2018 Non-Financial Goals (and 2017 recap)

I like to also set non-financial goals here at Northern Expenditure because life is worth living for more than just money!

2017 Goal Recap:

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Why We're On the Slow Route to Early Retirement

Why We’re On the Slow Route to Early Retirement

Our family is on the slow route to early retirement. Our story will never be shared on big news outlets because it just isn’t that interesting: “Couple saved money for 15 years to retire in their late 40s!” – 12 years? late 40s? But this is a conscience choice for us.

Why we’re heading to early retirement

The “Why” is always the most important question about a journey to early retirement. In our case, it’s not because we hate our lives now. It’s because we would rather take money out of the equation. Mr. T doesn’t love his job, but he also doesn’t hate it. He’s not the one stuck at work with tight deadlines, no sleep, panic attacks googling: “How do I retire early?”

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The Our Next Life Challenge: Take 2

The Our Next Life Challenge: Take 2

Long, long ago, Steve over at Think Save Retire started a series called: our next life – then our friends over at Our Next Life, the blog, continued the series. We first participated in September of 2015 and ended that post by saying: “I should probably re-write this post once a year for the next seven years!” because plans change and ours are so fluid. So, here I am again 2 years later revisiting our plans.

Our Next Life Timeline

2018 – Take the kids to England, Wales, Norway, and Iceland – this will be a 27-day trip! This is one of the big changes from when we wrote this post the first time. This was supposed to be an England-only trip the summer after we paid off the mortgage. Now we’re doing a sweeping 4-country trip (so still fairly slow travel compared to hitting many countries) and we’re doing it before the mortgage is paid off so we can visit my parents in England while they’re living there.

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