Professor Dog?

A local community college has asked me to teach a class at night in the fall trimester (August to November).

Pros:
* I would be a professor of a class that I know well because I went to grad school in it
* I would meet other professors (maybe?)
* People would be impressed?
* nearby
* work is supportive-ish, well, not unsupportive

Cons:
* huge time commitment - 4 hours lecturing a week plus prep
* not much pay - 8K for the trimester
* huge time commitment

This community college is not great, and the students would probably only be taking my class because it's required for a few degrees. I think they asked me because there are not very many women in my field, or people with my grad degree at all really. And also they probably were having trouble finding anyone at all. I met a dean of the community college at a networking event, which is what set this in motion.

So, this would be a huge time suck--two nights a week!--from August to November. I'm having trouble figuring out why I would want to do this except sheer snobbery of being a professor, which is hard to justify, especially with all the unknowns with the new business coming soon. Comments welcome, this one is hard for me.

Tagged

I've been tagged by. E.C. This is a strange tag. I am supposed to post all these links for long life. I hear there was a woman who didn't and her dog died. And I would not want that. Here goes:

The Strategist Notebook ~ Link Addiction ~ Ardour of the Heart ~ When Life Becomes a Book ~ The Malaysian Life ~ Yogatta.com ~ What goes under the sun ~ Roshidan’s Cyber Station ~ Sasha says ~ Arts of Physics ~ And the legend lives ~ My View, My Life ~ A Simple Life ~ Juliana RW ~ Mom Knows Everything ~ Beth & Cory's Mom ~ A Mind Forever Voyaging~ enjoying the ride ~ Jennifer's thoughts ~ Mom of 3 Girls ~ Amanda ~ Don't Make Me Get The Flying Monkeys ~ ExPat Mom ~ Just Jessie ~ Wilson Six ~Krisitn ~ Nuttier Than You ~ Shonnte ~ Summer's Nook ~ Laura Williams Musings ~ Melissa's Idea Garden ~ Confessions of an Everyday Housewife ~ Blah Blah Blog ~ Stop the Ride! ~Soap, Blings & Girly Things ~ It's All for the Best ~ Keeping Feet ~ Junky Love in FreehandGetting Out of Debt ~ Free From Broke ~ Money Matters ~ Arohan's Investing Life ~ My Investing Blog ~ Finance and Fat ~ Iowahippiechick ~ ~ Cathlawson.com ~ Making Cents Of Debt ~ DebtDiet ~ MakingMoneyJournal ~ Life Liberty & The Pursuit Of Money Mrs Micah Brightside of Debt Fiscal Musings Paid it Down and Moving Forward Phoenix from the Ashes Canadian Saver The Good Life on a Budget Last One In Line Finding Financial Peace CT Mom Beachgirl's Budget Blog~Saving For a Home of My Own ~ My Money and Politics ~ MoneyDummy ~ Fabulous Financials ~ Fabulously Broke In the City ~ Mapgirl's Fiscal Challenge ~ The Hustle of Sistah Ant ~ Ms. Miniducky~ Sense to Save ~ Thoughts From an SF Renter ~ Not Living on Ramen ~Living for the Blue World~The Penny Saved~Not Living on Ramen

I was hoping for the 123 book meme, because I am reading Small Business Taxes 2008. Y'all would have loved that.

First Business Expenses...

This weekend, fiance cleaned out his business checking. He spent 3K and bought about a third of the equipment he needs to leave his job. The rest we are going to have to borrow on a business credit card. It's the start of a long, scary process of buying some expensive stuff!

I posted before that he hadn't applied for a business credit card yet because his December FICO was a hair under 700. Well, WAMU finally got around to updating the FICOs on the credit card and his FICO was up to almost 750! So, the application went in yesterday.

We're going to have a very cash-poor business for a while. I'm not sure exactly how to put this in the net worth. Before, I never counted his business account because it was always going to be reinvested in the business. When the business actually starts making money, I guess the business checking should go in the net worth. The business debt will certainly need to go in the net worth.

New Credit Card Balances

My first goal for 2008 is to pay off the credit cards. With starting the new business, I think this might take a little longer, but will be done soon.

Card #1: $2,900 (will pay off at end of month)
Card #2: $0
Card #3: $0
Card #4: $0
Card #5: $0
Card #6: $0
Card #7: $0
Card #8: $3,000 (0% expires in May)

Total: $5,900

I've now paid off $16,300 from my highest balance of $22,200. These numbers are about to skyrocket with the business expenses, and some are already on there.

Something Strange Afoot

I have been on the Well-Heeled Clothing and Shoes Hiatus (CASH) for well over a month now. One $275 bridesmaid dress, one $65 damaged black tie formal, one non-allergenic $40 necklace chain later, I'm still on board!

After I bought some nice work pants, I didn't really need any clothes. I didn't need any shoes either. This week, I had FOUR pairs of shoes in my Amazon cart. It was fun to shop for them and pick them out. And then, get this, I just deleted them from the cart. I didn't think about it, I didn't write down what they were for later. I just deleted them. No biggie. Whoa.

CASH has changed the way I view my idle online shopping. I fill my cart, and then I just delete it. It's like going to the mall and buying nothing! Even better, I've shopped online less. Maybe soon I won't even feel the need to do that.

GO CASH!

More on Health Insurance

I've been working on how to get my fiance health insurance after he quits his day job without getting married just yet. He would need just under a year of health insurance. He is in his mid 20s, and healthy. He saw the doctor once in the last year, got some expensive antibiotics, and that was it.

His COBRA is something around $500/month. Ouch. There is a group of people in similar freelance jobs that comes together in the city to buy group insurance. That's pretty cool. But it's still too expensive, at about $3-400.

We are looking at a high-deductible plan for $60-100/month. It would have a $5,000 deductible, but after that everything would be covered. This would mean if he gets in a car accident, it costs us 5K. If he gets mildly sick, he's uninsured. We do know one doctor, a neighbor. She's a residency/dirt poor doctor, so I bet she would help if we asked once a year.

He would get to open an HSA. The only blogger I've seen that has one of these is Him. I'm not even sure how to set one up, but it looks like a pretty cool plan. This looks like the best (and cheapest!) option for us. If a medical horrible happened, we could always get married and I could add him.

Marriage & Health Insurance

The least romantic Valentine's post ever. I wrote this for V-Day, but couldn't convince myself to publish it then.

On my last musing about the hazards of self-employment, both Living Almost Large and E.C. suggested I get married, put fiance on my health insurance, and have a big wedding later. I don't have a religious problem or anything like that, I have a math problem.

If we were married, he could have some of the best insurance in the country for $20 a month. Great! Problem, we would then be married and would have to pay taxes as such.

I ran a lot of tax scenarios. That's hard! It's particularly hard when you add in SEP-IRA, the profitability of his side business, and how much side business I will have. Whew. All said, it took about an hour.

Since fiance will not be quitting his day job until March, he will at least have some income. If his new business makes any money at all (I mean $10), getting married would cost us 7K in taxes as opposed to filing as single and living in sin.

If he makes more money, the penalty just increases. If his business makes 75K, being married will cost us 18K in taxes. Yipes.

I looked into married filing separately briefly, but we live in a community property state, so we would report 50/50. And that is too much math, even for me.

Running Out of Options

My fiance is trying to start his own business and quit his day job. We have problems.

The credit card debt is now at $6,400, down from $22,200 on December 1, 2007. It's at 0%, and that isn't up for three more months, but most of it is in his name. Ruh roh. As of December, his credit score (based on the much-higher credit card balances then) was 697. Just short of 700.

There are lots of fantastic business credit cards that could bridge the gap until he has all his equipment. But you personally guarantee them, and he's a sole proprietor, so it's based on his credit score. I'm not sure if just under 700 is high enough, and I don't know whether his score has improved enough. The last thing I want to do is apply too early, get rejected, then bar him from ever getting that card. Or, worse, block him from getting any card because of an inquiry and a rejection.

I cashed out the e-fund. The meager 2.5K e-fund that was (stupidly) sitting in an emerging markets mutual fund. I am going to pay off almost all of his credit card debt by Tuesday. Give that a few weeks to take, then apply for the business credit card.

Clothes Emergency Averted!

Earlier this week, I learned I needed a black tie dress. Gulp.

I headed to the mall. Saks was having a sale. I tried on the most beautiful Mark Valvo gown. The tag was missing, so I asked how much it would be. $514! And that's on sale! But it was truly stunning.

I went to Nordies. I told the saleswoman that I needed a black tie dress but that I had no money. She pulled out a dress that had been returned. It had a snag on it; it was last season; it wasn't the best color. IT WAS $65! Sold.

I'm not sure I would ever spend $500 on a gown. I bet I will have trouble doing that for my wedding gown even. But I do wish I had a gorgeous Mark Valvo.

Clothes Emergency!

After I swore not to buy clothes, I immediately got roped into buying a hideous bridesmaid dress. Now I have another clothes emergency!

My fiance and I got to a lot of events to network. Then we get invited to more, and more, and more. Turns out I have a black tie event at the end of the month!

Fiance has a tux and tux shoes--he wears them about every other month. I knew this day would come. I have. Nothing. To. Wear. I have a cheap prom dress-type formal. I have suits.

This is not the kind of event where I can just go buy polyester at Macy's. I'm going to have to go to Nordies. *scared*

Valentine Carnival!

Yay, I'm in the Valentine carnival of personal finance!

Breaking Free From 9-5

My fiance and I work day jobs and all the freelance we can get. We have (very different) skills that people need and are willing to pay for. We are also very social people, and we will go to just about any event/party/meeting to talk to the right people, or anyone really, because they might know the right people.

My freelance pays maybe 1/5 of my day job. But fiance's freelance has been growing. He has gotten some repeat clients. He undercut bids on big projects. His clients are getting more demanding and paying a lot more.

So.... The moment of truth... The break-away point. For two months in a row now, he netted more on his own than at his day job. Whoa. He has been putting that money in his business (LLC) account and using it to buy the equipment he will need to go solo. To buy enough equipment will probably take a couple more months.

My head is spinning with problems. Our house, while cute and well-located, is not ideal for clients. What if he can't get gigs once he leaves? And, the doozy, how can he get health insurance? I'm sure there are a whole lot more problems.

It's scary starting on your own.

~Dog

Not Buying Movies Either

The Amazon "deal" this morning is a 90-movie box set for $250 (was $609) with glossy brochures and a fancy box. Many of those movies (*cough Pink Panther*) would make people think you had questionable taste were they not bought in this overwhelming, awful, unmanageable format.

Junk like this makes me even more grateful for Netflix. We don't have useless boxes with way too many movies we will never watch lying around. We average about 15 movies/month, some (*cough Pink Panther*) we give up on after 25-20 minutes, and just send back. At about $20 month, this box set could pay for a year, or 180 movies that we mostly actually want to see.

Budget: Part II, Kinda Fixed Expenses

I previously detailed my fixed expenses at a whopping $1,930.

These are my kinda fixed expenses that I spend more or less the same on average every month and are predictably recurring. These are a lot easier to calculate than my discretionary expenses, and well, I'm still trying to get a hold on those.

Kinda Fixed Expenses:
Doggie day care $125 (was $250!)
Dog food $50
Dry cleaning $75
Gas $150 (about $50 is reimbursed or deducted, usually)
Tolls: $10
Medical $40 (doctor and Rx copays)
Hair: $40 (styling and products)

Total: $490

Wow, those little things add up.

Budget Buster: Bridesmaid-ing

I have been roped into being a bridesmaid in early June. This kills all my plans. You will notice that this wedding, uh, doesn't have much notice.

First, this means I will have to buy a $275 "rich chocolate" hideous dress when I am not buying clothes. (Mrs. Micah just posted on this!) BOOOO, I could get something fantastic for that much money. Heck, I could fly somewhere fantastic.

Second, I will have to pay for the bachelorette party/bridal shower/kitchen gadgets shower/home repair shower/chick flick shower. Weddings are out of control.

Last time I was a bridesmaid, it was for a dear friend out of state. The red, hideous dress with matching fishnets was $200 (bargain!), I flew out twice ($500), two nights in a hotel ($200), and I paid for my share of the shower ($200) and bachelorette party ($50), and I gave a gift ($100). The bachelorette party was almost free because guys bought drinks all night, as it should be. The damage was $1250. I have not worn the dress, I'm not even sure where it is. But that was for a dear friend, and I would do it again.

As for this wedding, well, there has to be a better way. Brides flip out if you decline. Maybe I can just try to keep the parties under control. Brides: it is not an "honor" to buy a $275 dress so that your special day is perfect. It actually kind of sucks.

Budget: Part I

The first step, according to Suze and Dave Ramsey is to make a budget. Gulp. I'm scared. I'm going to make a backwards-looking budget with some math and Quicken.

This time, I'll calculate my fixed costs, next time the variable.

My FIXED costs:
* rent 1300
* power 150
* internet 40
* phones 65
* car insurance 110
* renters' insurance 45
* Netflix 20
* maid 200

Total: 1,930
Whoa. *ponders* Good news is this is for me and fiance. Bad news is, I don't think it would be much cheaper if I were single.

Still Not Buying Clothes

On January 15, 2008, I swore I was not buying clothes for six months. I tweaked that a bit, and gave myself $200 "emergency" clothes money.

Well, it turns out that I am allergic to the gold-tone chain that one of my favorite pendants is on. So, I bought a delicate actual gold chain for $40. That's as close to a clothes emergency as you can get, I think.

But I did not buy anything else. I particularly did not buy these gorgeous D'Orsay pumps even though I really, really want them, they are only $80, and I have the perfect black suit with yellow top outfit for them. Nope. I will have to wear my 8 pairs of black shoes. Or maybe one of the 4 pairs of gold.

Gar! Has it only been two weeks on no-buy? I really need to be on no-buy! Thanks, Well-Heeled.

Net Worth Milestones

This month, I did pretty good. Not as good as last month's 452% increase, but good.

I reached two milestones that are a big deal to me.
* My net worth is now FIVE figures. Ooooh. Aaaaah.
* My credit card debt is now less than five figures.

The next milestone like this will be when my total debt is less than five figures, but I still have a long way to go for that one.

I'm proud of my goals--they're coming along nicely. With my tax rebate, I think I can pay off the credit cards and fund the IRAs in March. By the way, those are one non-deductible IRA one Roth IRA. I make too much income for Mr. Roth, but fiancee doesn't.