Sort of the reverse of the income shock game day scenario.
You and your spouse each get to add $500/month or $6000/year to your regular monthly or annual expenses. You have to spend it; no savings allowed, but you can put it into real estate for a vacation home, housing for relatives, etc. If it's stuff you'd buy frequently but not always monthly, like clothing, makeup, get a new smartphone every six months, whatever, that's fine, but it has to be stuff you'd buy at least once a year.
Post by delawarejen on Sept 30, 2014 20:33:51 GMT -5
Would paying taxes count as spending? Because I would change my 403b contributions to Roth 403b contributions and send all that money to the IRS as a tax payment if I could.
If that doesn't count, I'd get some work done on my house.
Post by IrishBelle on Sept 30, 2014 20:51:04 GMT -5
A part-time nanny to help with the kids afternoon school/daycare by taking them to their activities and handling sick days, etc. Date nights with DH weekly
if this was ongoing, I'm not sure. we will cut spending when FI goes back to school next year so it's hard to picture spending an additional $500/mo without feeling really itchy.
Hmmm,maybe dinners out. We already prioritize travel & put a huge chunk of money towards that yearly yet I'm pretty limited on vacation days so it's not like I could travel more.
I've been pretty MM about buying new clothes & shoes lately so maybe that.
Post by sillygoosegirl on Sept 30, 2014 21:33:40 GMT -5
It's likely we're going to have to come up with that much and maybe much more to help pay for my 99-year-old grandmother's care starting very soon now. Especially given that my one uncle who could/would have been helping out just had a massive stroke a couple months ago and will be out of work at least a year, if he ever really recovers at all. Pretty sure it's all going to fall on my parents, DH, and I, and *maybe* as many as 3 of my cousins are in a position to help. So that, I guess. :-(
If we had that much, we could actually survive. We'd put it towards things like non-Aldi groceries, clothes (new ones even!) and doing a few things as a family, like going out to eat or spending a Saturday at the zoo.
Post by dexteroni on Sept 30, 2014 21:59:05 GMT -5
So $1k per month total? We would buy and move into a new house before listing this one, and use the extra money to pay the mortgage (LCOL, don't hate me) on the current house until it sells.