When we did the 2010-2011 budget, we had a large credit from the year before (due to high prices that we had to pay, and then the price dropped). We also didn't take the cap protection (which gives you a lower rate on the day you get your fill up if it is available). At that time, we figured out the rate would have to drop 70 cents a gallon to make it worth it.
Now, the rate is $1.00 higher than last year (2.999 is now 3.999). 1050 gallons of oil (we used 978 last year, so this is a small cushion). Add in cap protection (because hopefully the rate will drop), service contract....take out our current credit....and here you are.
If we take out the cap protection, it would drop to about $372, but then we pay 3.999 regardless of the current rate.
One of the wonderful things about being on top of your budget is being able to confidently shuffle things around when something like this happens. You're more prepared for the unexpected when you know exactly where you stand.
I'm sorry about the shock of the huge bill coming up like that. But imagine how much worse it could have been if you weren't paying attention to where your money was coming from or going to before this.
Ugh. I HATE the cost of house maintenance. That's a pretty big bill, no matter how you slice it. Don't worry about your retirement account...it will go up again....you have plenty of time before you retire...
Evan is right --- with all that you have going on , ignore retirement for now ----- (now if I could just do the same for Princess Penelope's 529! sigh.)
Oh my! I am so sorry!
ReplyDeleteWOW! Why did it go up so much? I mean I know oil prices have been rising but such a crazy change!?
ReplyDeleteWhen we did the 2010-2011 budget, we had a large credit from the year before (due to high prices that we had to pay, and then the price dropped). We also didn't take the cap protection (which gives you a lower rate on the day you get your fill up if it is available). At that time, we figured out the rate would have to drop 70 cents a gallon to make it worth it.
ReplyDeleteNow, the rate is $1.00 higher than last year (2.999 is now 3.999). 1050 gallons of oil (we used 978 last year, so this is a small cushion). Add in cap protection (because hopefully the rate will drop), service contract....take out our current credit....and here you are.
If we take out the cap protection, it would drop to about $372, but then we pay 3.999 regardless of the current rate.
Dang that's crazy but you need things like this, we had to replace our air conditioner down here and that set us back $2,000! We had no choice...
ReplyDeleteHS
Ouch!
ReplyDeleteoh no ! that is horrible! I'm sorry Mysti
ReplyDeleteWow. That is painful. I am SO sorry.
ReplyDeleteMysti...I am so sorry. Are you re-shuffling the budget and life to try to figure it all out today? Do you need a Dr Pepper my friend?
ReplyDeleteThanks all....it is a major OUCH.
ReplyDelete@Julie - yes, lots of budget reshuffling today. A few other things in the works that give me some hope. IF they pan out.
One of the wonderful things about being on top of your budget is being able to confidently shuffle things around when something like this happens. You're more prepared for the unexpected when you know exactly where you stand.
ReplyDeleteI'm sorry about the shock of the huge bill coming up like that. But imagine how much worse it could have been if you weren't paying attention to where your money was coming from or going to before this.
@Kevin - remember...this is EVERY MONTH...not just a one time thing.
ReplyDeleteIgnore the retirement accounts! It is tough but it is the only way I haven't thrown my computer out the window lol
ReplyDeleteUgh. I HATE the cost of house maintenance. That's a pretty big bill, no matter how you slice it. Don't worry about your retirement account...it will go up again....you have plenty of time before you retire...
ReplyDeleteWOW Every month??? for how long? yup that hurts...
ReplyDeleteHS
Yes....this is what we will pay every month for 11 months for heating oil...for heat and hot water.
ReplyDeleteThis is just a regular utility bill...just like the electric...which by the way is 110 a month.
Evan is right --- with all that you have going on , ignore retirement for now ----- (now if I could just do the same for Princess Penelope's 529! sigh.)
ReplyDeleteYup you need to move south asap! come to TX! We don't have state in come taxes either!!
ReplyDeleteHS
Ignoring your retirement fund is good advice. Unless you're planning on retiring in the next few years, there's time for recovery.
ReplyDelete