October 14, 2011 6 Comments
In case you can’t tell by my lack of posting in recent months, being chair is taking a lot more time and energy than I ever imagined it would. I will have sometimes 8-10 meetings a week on top of my teaching responsibilities. Trying to imagine doing research on top of this seems an impossible task. I’m thankful for two undergraduates who are especially motivated and don’t need more than a little bit of guidance from me on what to do because they’ve been at it for the past year.
For all the extra cash I’m bringing in (dripping with sarcasm), my financial status hasn’t improved that much. I still have about $14,000 on my credit card which doesn’t seem to ever go away. My emergency fund is slowly depleting as I had to do $700 worth of repairs and maintenance on my car this past month and ran out of money in my car fund for the year.
I’m thinking next year I’ll need to start putting away at least $100 a month for car repairs – compared to the $60/month I’m doing this year. My car will be 10 years old next year and I have started researching new(er) cars. But I can’t bring myself to buy a new car while I still have debt. And I want to buy a new car in cash – which means I’ll need to pay off $14,000 in debt and save up at least $6,000 in cash. $20,000?? That’s a lot of money…
I feel like I’m sinking with my finances right now, and it is frustrating. I want this debt gone more than I can explain, but there isn’t an easy fix and that is frustrating me. I feel like I’m constantly taking two steps forward and one large step back. I hope some day I’ll be where I want to be financially – I just hate knowing it isn’t today or tomorrow – or maybe even next year. But something will have to give soon, this way of life isn’t sustainable in the long run. Period.