Wins: we're spending less on gas and tolls and eating out since having DD. We've also spent very little on diapers since we were gifted a bunch of size 1+ at the baby shower, plus baby store gift cards to buy newborn sizes (which she's now grown out of).
Loss: I've only been getting 66% of my salary and MH doesn't work over the summer so he's been getting $0. And we've been comparing daycare options ... the local places are all too much for us so DD is going to have to commute 30 mins+ with MH and go to a friend's in-home daycare since she's the most affordable we could find.
Post by nancybotwin on Aug 5, 2017 10:34:02 GMT -5
We are in escrow for a house. I consider it win/loss because I love the house and it is in excellent condition but once we close we will have no money left in savings and will be on a super tight budget for 9 months. After that our salaries will both go up and we will be able to breathe again. Just praying we don't have any big emergencies in those 9 months to send us into cc debt.
Curious, how does everyone's daycare go down when the kids go back to school? I still have to pay the same because I drop them off for the bus, they go there after school and days off of school. It won't drop until my oldest ages out at 13.
Wins: I tried YNAB and Mint this month. I am really liking Mint. H doesn't care for Mint, but it looks like he upgraded his Moneydance, and hopefully he will use the bill pay reminder in there. I have been on him about forgetting payments, so I am thinking that is what he is doing. He is paying bills right now, and hopefully setting this up.
3 credit cards (small amounts) have been paid off for debt snowball. 3 are left.
H is waiting to hear the offer on his new job. There is a sign on and increase in salary, I just don't know what number they will come back with for the base salary. It could be up to 40K more not sure.
Daycare is over with, and now we are moving on to pre-school. DS is in school full time (public), so only paying for aftercare. DD is in pre-k, so that is still a payment, but $400 less a month.
Our financial planner appointment went really well. We are on track for retirement and kids college savings. We are setting up an emergency fund of 3 months expenses.
Losses: We spent way too much money on vacations in July. I am glad it is August to start over and be more in budget. We won't really have a vacation again until March though...
Every time I see an interest charge on the CC's through Mint, I cringe.
I'm starting a new job on Monday and looking forward to it. I was ready to make a change but took a break from here while I was in the uncertain process of weighing my options, especially in the wake of the election - which was depressing to put it mildly. I wanted to look for something that would have more meaning than what I was doing. I'll be working in event planning for a major medical conference. I will feel like I am making more of a difference.
Two losses lately - we paid around $2350 to get our nearly 100k mile Jeep up to date on maintenance/minor problems. It's running great now and hopefully will for another 100k miles more more, but it was a lot at once.
The same week, H realized he had a tuition bill he had to pay for his summer practicum class. His tuition is paid for during the school year from his assistantship, but for some stupid reason it doesn't cover summer. So that was 2k. We "knew" he had to pay something but kind of forgot about it, plus last year he had a scholarship that covered most of it so we forgot that the normal cost is so much.
So that was over 4k out of savings in a week. We're trying to hoard money for a potential cross country move (or two) next summer so while we thankfully could afford it, it makes me more anxious about our future financial picture.
Post by bostonmichelle on Aug 10, 2017 12:54:23 GMT -5
So I've had a mix bag lately. I quit my job to stay at home "full time" while doing some side work.
I should start a very part time job 6-9 hours a week where I can take my daughter with me in October, it was supposed to start in August but construction is delaying the opening of the facility. I landed a client who is a friend to do his books and tax returns. It should be about 10-20 hours a month once I get up to speed on everything and I'll be getting a flat rate every month. These two added together should cover basically the amount that I would've made if I stayed working and sent DD to daycare.
DH's company got bought out last November and a lot of things are changing Jan 1, 2018. We are getting moved to a high deductible plan which is fine since we are relatively healthy *knock on wood*. They don't have all the insurance information but I'm hoping this means premiums will be lower and we know they are funding at least part of HSA's for employees and families. Also they are moving from being paid the 15th and 30th of the month to every two weeks. Overall his compensation will stay the same but his take home every pay check is going to go down quite a bit. I'm hoping once we redo withholding for next year it will even out.
We've been limping by with our old A/C system. I thought we were going to have to replace it this summer but it looks like its still going. I'd love to get it through another winter and replace it next spring. I have some whole life insurance policies that my mom took out on me when I was born and my dad wants me to cash them out this year or next, we are planning on deferring until next year since we will be in a lower tax bracket. This should be about the same cost as a new HVAC so hopefully that will be a wash next year. Which means we can get a new dishwasher and hot water tank this fall instead.
What I HOPE to be a win: I finally got the nerve to ask for a promotion/raise at work. I've been overworked and WAY underpaid (by 20% or so) for what I do for a while now, and I'm waiting to hear back from my boss as to whether the CEO is in agreement. Not sure what they will come back with, but hopefully it helps close the wage gap. Fingers crossed!
wildrice the "like" was for being able to pay for two large expenses without too much of an issue. I hope you can get some clarity on where you will be headed next summer soon!
Not sure if these are losses as it's of my choosing but I just booked a girls long weekend in Seattle, got new clothes for the trip, and I need a new carry on bag. Looks like I'll pay off my credit card with my tax refund in 6 months
We had to replace the brakes and rotors which ok loss BUT this happened while we were on vacation visiting my parents so we got them done by a family friend who owns a shop there. Cost us less than half what it would have cost us at home. WIN
Money win- I changed the spark plugs in DH's car yesterday. Saved us about $270 after the cost of the plugs. It took a little longer than I wanted it to, but this was my first time changing plugs in his Subaru. One was in a difficult spot and I had to play the game of "Lets figure out what extension size, joint and ratchet position combo is going to work best here".
You spent $850 on some of the ugliest shoes I have ever seen. Please don't ever lecture anyone on their cable bill, smartphone bill, or lack of hypermiling ever again. EIGHT HUNDRED AND FIFTY DOLLARS.
She can afford the shoes without it causing a problem to their household. IF someone cannot pay their bills and wants to get out of burdensome debt etc-- the advice to cut cable, smartphone along with other rather common expenses, is sound financial advice . It is but only a small part of the needed changes required. $1 is $1- what you do with it makes a difference.
Post by wanderlustmom on Aug 14, 2017 17:34:28 GMT -5
Win: DH is the more MMer in the family and our very calculated spreadsheet has him retiring at 53. He's our breadwinner and I want to keep working anyway so this is huge for us. He's able to retire seven years earlier because of us living below our means.
Loss: Our monthly budget is way too high. Social plans, grocery and kids activities still derail us.
Absolutely. And this would be a great time for @shoegal or @feministfinancier to put her $1 where her mouth is and donate to a cause that will actually make a difference right now. Perhaps $850 of those dollars, actually.
We get a company raise that boosts my annual salary to 50k! I only get it for one month before I quit, but it's a big milestone for me just the same. I never expected I would cross that threshold.
Curious, how does everyone's daycare go down when the kids go back to school? I still have to pay the same because I drop them off for the bus, they go there after school and days off of school. It won't drop until my oldest ages out at 13.
It was a wash this week for wins/losses.
We went from $1600 per month for prek to $800 per month for before and after school care (including school days off) plus about $1500 per month for summer camps. I think it's because we are in a vhcol area so daycare is just outrageous. And the allowed ratios for daycare (ages 5 and under) vs after school (ages 5-11) is much lower.
We went from 500 a week for two kids in daycare to 300 a week.
I changed my hours from 8-4 to 9-5, so I could put DS on the bus and eliminate before care. I am still paying for pre-k which is most of that amount.
Her pre-K is pro-rated which is nice. Once both kids do public school then it goes down to 160 a week for just aftercare for both of them.
Daycare center would have charged 160 a kid so aftercare is cheaper than daycare center for various operating reasons.
I still have to pay for days off and breaks however some of them I will take PTO for and save on care.
If I were in a daycare center I have to pay even if I don't use days but the place we switched to lets us unbundle days off from public school for a savings.
We ended up replacing our AC and tweaking some of the ductwork. I thought it was going to be about $9K including permits, and it ended up only being $8K including permits. I'm calling that a win, otherwise I would cry. At least our AC is more efficient now.
For September I'm going to try my best not to do any clothes shopping for myself or the girls. That will be a major win!