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So, it is time to do a reset of the old finances. We have the truck loan, but it is frozen at 2.1%. The house is sliding and is going up as the interest goes up. We knew this when we took it out. But as it is a smaller loan than many have on a new truck, I am not worried about paying it off. I don't like paying interest, and I certainly don't like the fact that it may go up more, but I can handle the payment and then some, so I am fine.
Kim is at the point that she is enjoying her life as she works her tail off, and I refuse to live in fear. But I will live in frugal.😁
The new goal is to go back to paying $1000, more a month than is needed on top of all interest, therefore making the loan go down 1000 dollars a month. This was put on hold for the last little while. But now I feel like I will try this for a few months and then see where we stand and add more to it.
I have so far this year been able to save enough to:
1. pay for a long cruise (the tickets). $6000
2. pay for Hub's hearing aids $3000
3. pay house taxes $1600.00
4. reboot my emergency fund $1000
5. many other smaller bills and gifts from $50 to &800 accordingly.
6. fly to my nieces wedding including gift $1500.00
Now I could have put all of that on the house, but I am enjoying life remember?
I am also saving lots of smaller amounts of money for my next trip which is a girl's trip to Florida. I have over $600.00 in fives saved so far and also $432 in my $36.00 a week envelope, so over a $1000 and I figured the trip besides the plane ticket, which I can get with points will be about $2000 max. I am halfway there. Realize I have saved that money since the first of May as I had used all my $5 dollar and $36 dollar envelope money to go to my niece's wedding. So not bad for a little over 2 months.
I know there is more money in the budget than I accounted for, and not more bills as I have always had in the past. But Kim before in her horridly) ADHD manner would run full steam ahead overpay debt and not have enough to live on and then debt again. I will see what is left over at the end of the month and then decide where to put funds. No more jumping in before I know. We also have to have some major work done to the sprinkler system and I will try and cash flow that.
Have any of you made changes to your budgets? What are you doing? Would you pay off debt before saving a three-month emergency fund instead of just $1000? I am debating this in my mind.
Thrifty Thursday!
1. saved all my spare change, and I found .87 cents over the last two weeks
2. saved all my $5's. Now have $680.00 so $105 in the last 2 weeks.
3. saved a $5, $10, $20 bill
4. added $61.18 to my penny saving bank
5. added $1000 to my emergency fund
6. paid off plane ticket I bought for niece to fly home for baby's funeral, also paid for plane ticket for another niece that needed to get home. Call Auntie Kim when desperate.
7. Went camping and used almost all foods from storage, so no big grocery bill.
8. found least expensive place to get gas when traveling
9. did not eat out at all while traveling, just brought snacks.
10. Stopped on reservation for fireworks, they are much, much cheaper and probably illegal. :)
11. Bought loss leaders at Albertson's that is it.
12. Kids left a ton of food at our house from their holiday celebration (they stayed here while we were gone) So we have been eating that up. It is good stuff too! Not things I would typically buy.
13. Picked enough rhubarb and processed enough for 6 pies free at MIL.
14. Was able to purchase several cute outfits for my brother's oldest daughter for back to school. I will send the girls boxes in August. I was able to get 3 dresses and 4 pairs and pants and socks for $42.00 at Fred Meyer in Twin Falls. It was a great, great sale.
15. picked up buttons for bustling wedding dresses at Wal mart where they are 1/4 the price. I always buy them out and then re check to see if they restock.
16. Picked our first squash from the garden and replanted lettuce seed. We will have more squash soon and peppers!
17. Hub's sprayed the apple tree so we will have plenty for applesauce and pies this fall.
What have you done to save money the last little while?
Anything different? Anything I could use to also save?
Have a great and productive day staying positive while you are in the negative.
Kim
What part of Florida are you going to?
ReplyDeleteI have no idea. Anne in the kitchen's place. Going with Slug and Sissie, do we need to pick you up?
DeleteYou have a great plan. You have done very well, and I am glad you are getting to enjoy the fruits of your labor. IF, by some chance, you can't do the full $1,000 one month do not fret - you got this. Stuff happens.
ReplyDeleteI have not really changed anything. I am not shopping at the moment, but don't need to. Freezer and pantry full and garden is starting to come on - life is good.
You know that is really6 the way I feel. I feel so blessed sometimes I feel guilty.
DeleteHi, good question about paying off debt versus an emergency fund. We had the $1000 set aside, and five years before I retired, we decided to payoff the home loan during those five years. Extra money went 50-50, I wanted to get to $5000 in an emergency fund, so once that was done, everything went to the mortgage….then we would have to spend the $5000, and I would start again….endless ;). But it worked, we were mortgage free the day I quit! Hilogene in Az
ReplyDeleteYou know that is a great idea.
DeleteI think peace of my mind is a luxury investing in. If the way you manage your money feels sensible to you, I think that's huge. I like having an emergency fund, but also fun. It's a balancing act. Think worst case scenario - does your emergency fund get you through a hardship? Then that peace costs the price of building the emergency fund. You know we're trying to get DH retired, so we're in saving mode, but we need major things done too. No one is perfect, just doing the best we can.
ReplyDeleteWell that is really all we can do. I just often spend time questioning myself on my methods.
DeleteI'm a strong believer in 6 months expenses in my emergency fund and after I paid off the mortgage that all went in to make it a 2 year fund.
ReplyDeleteSo yes, take it up to $3000. $1000 is not going far on any significant repair these days.
thanks Elle I will do that after I get the tithing paid for the year. I will feel better about that.
DeleteThat $6K includes airfare to Miami from DC too and all the Diet Pepsi you can drink. lol
ReplyDeleteWell the pepsi part....
DeleteOur budget pretty much stays the same but I am always looking for ways to save money on our regular bills like calling around every year to get the best price on car and house insurance. We did up our emergency fund to $10k though because things are so expensive these days like replacing appliances or the hot water tank, etc. Also with so many kids and grandkids, someone is always having an emergency!
ReplyDeleteAfter I get the house paid I will up it, but right now I am going to try for $3000.
DeleteHow are you thinking of optimizing your travel? That's usually an area where there are deals. An example. I know we're going on a trip in October, and the best airline for the destination is Southwest. I'll keep my eye out for Southwest gift cards on sale (Raise, the grocery store often does 20% off rewards, etc) & then buy the gift cards at a discount (or, with rewards). Shop for the best price on the flights, use the gift cards, and you've optimized the travel a bit.
ReplyDeleteThat is a great idea.
DeleteFor what it’s worth, i agree with Elle. I hate debt and 1,000.00 wouldn’t cut it for me.
ReplyDeleteDebbie
I agree also and I plan on upping this.
DeleteDid I miss something? Where is the long cruise? How long is a long cruise? That is great to have good food left at your house, stuff you don't usually buy. I suppose it is stuff you don't have to cook. That will be a nice treat.
ReplyDeleteSlug's and I and our husband are going to Panama at Christmas time. Actually, before Christmas, Then we will stay with Sissie for Christmas.
Delete