So many things have happened this week.
Hubby has broken his wrist, though the doctors wanted him to take some time off to let it heal (It's in a spot that won't need a cast, just a wrist support and 6 weeks to heal) his job is so busy at this time that he will work through it, although limited duties. During this time, he may be making a temporary shift in job roles, this will be at another location for approx 5-6 months. We are waiting on final details, including a temporary increased pay rate.
Amongst this, my work is getting ready for a second wave in our state. I am ready for reduced hours this time, should it arise.
The plan for the next few weeks is to put our tax return onto our mortgage, and our usual money from our pays.
We have also decided that the money we have saved this year doing the @thebudgetmom 2020 envelope challenge, which is somewhere in the $900 + range, we will put on the mortgage too. In reality, we were looking at taking a small trip before Christmas with this money, but with hubbies role changing, that won't be happening now. The money is just sitting there, so we will use it towards that.
Everything is changing so fast right now.
This will leave us with about $500 left on our mortgage by this date. Much discussion has been had about whether we take it out of our savings account. We could have finished this mortgage months ago, but im stubborn and did not want to take funds out of savings or the emergency fund, but we think $500 or so, may be acceptable to us to start September fresh lol.
We know the discharge fees will be about $350 from the bank plus an additional $173 from the lands title department. (No paper deeds anymore, just a digital confirmation lol).
So at this stage, pending nothing going wrong, we will have 3 weeks to go.
This is tentative, we don't want to put any extra pressure on ourselves, but I did say I would keep you all informed 😊.
Lots of things have happened recently, but we are still punching on.
Last week my car was rear ended. We are both safe, but I was SO bummed about my car.. we just paid it off in January and for it possibly be totaled felt like such a blow to the stomach. You can see in the picture it’s just the right corner.. but this person hit us so hard he went under it and bent the tail pipe into my tire. There was also some possible unseen damage. The value of my car isn’t much but to me this car signifies so much more.. I worked really hard to pay it off and early, kept up on the maintenance, it’s moved us so many times I can’t even count. I know it’s just a car and we could get another but idk. This one is just special for me. Today I found out that it’s NOT totaled, so there’s that 😅🙏 #debtfreecommunity#babysteps#caraccident#rearended#cash#debtfree#money#emergencyfund#financialfreedom#daveramsey#creditcard
1 91 hour ago
I was carpooling to a side-hustle event today. My colleague was driving, and due to a road closure, we had to take a windy path through the canyon.
On the way up, his car started overheating. On the way down his brakes started smoking. Y'all it was terrifying.
Now this collegue takes pretty good care of his car. Gets the oil changed routinely, recently got new tires. He relies on his car and pays attention to it.
These problems today we're unexpected. What I learned from the experience was that it's unfortunately good to expect things to go wrong with your car. And plan financially for it.
When I had an older car, I had a sinking fund for repairs and maintenance and a running list of things to get fixed/checked by order of importance. Now, I have a newer car and I've stopped that practice. I do get it washed every now and then, I get the oil changed and get the tires rotated. But I'm thinking I should start a sinking fund again.
It's not good to live in fear (otherwise I don't think I'd ever drive, those machines are dangerous!). But it is good to live prepared. Cars overheat when it's 100 degrees outside. Breaks are reliable until they're not.
I'm happy to report we made it safely up and back down the canyon, and the flatter road was open again on the way back (thank heavens). But watch out for your cars folks!
Aside from my IG name (budget by paycheck) I don’t think I’ve talked about how we actually use that method.
When I was 18 the only bills I had was my cell phone. I had a credit card with a $500 limit that I would pay off right away. Easy stuff. Eventually by the time I was 21( second picture) I had a car, car insurance a small amount of rent because I was living at a friends who’s parents gave me a killer deal. I had one job that I got paid biweekly. I would split all bills in half and then each paycheck save for those half bills so I wasn’t paying for the entirety of any bill on one paycheck. That extra money just sat in my account it never had a specific place it was going. My notebook helped me keep track of exactly how much I needed to have in my account to cover bills. Anything extra just went to random stuff like makeup or eating out. Then I met my now fiancé.. needless to say he wasn’t great with money. I still used my split bills method, but eventually we got more credit cards. I traded in my car for a bigger more expensive one. We moved out on our own, which our home town is unfortunately really expensive to live in. So we struggled and slowly got into more and more debt. I had kept seeing things about #daveramsey but never really looked into it. It wasn’t until our 6th year together with 50K weighing on our back that I finally said THATS IT! I researched the hell out of Dave Ramsey and found other people like @thebudgetmom who had her own budget by paycheck workbook! I purchased that and off we went! She taught me how to REALLY budget, for like every little thing lol! Not just split the paychecks!
What method do you guys use to budget? . #debtfreecommunity#credit#card#consumerdebt#cash#money#babysteps#2#beweird#debtisdumb#personalfinance#budget#paycheck#moneymatters#piggybank#freedom#free#creditcard#method
🤔How much should your monthly grocery spending be?
Well, there are so many factors that it’s difficult to put out a number.
One thing I do know is that the tighter your situation is, the tighter your grocery budget needs to be.
If you are struggling to make ends meet, or simply desperate to crawl out of debt ASAP, make it a tight budget.
Something like $125-$150/mo per person in an average cost of living area seems to be reasonable.
If you live in a higher cost of living area, have huge eaters, or simply don’t want to be strict because you make enough money to spend on groceries and still pay off debt and reach your money goals, well then, spend whatever you want!!!
The point of your grocery budget is not to limit you, it’s to help you create extra money in your budget to throw toward DEBT and SAVINGS and make those BIG goals happen!!!
It won’t happen without sacrifice, but you are the one that ultimately decides what number is right for your family and your lifestyle. Not me, you!
The most important thing is that you can *afford* what you are spending.
We budget $800/mo for our family of 5 and enjoy a little more freedom with our food budget than we used to. We have a small restaurant budget too. It works for us!
What questions do you have about grocery budgets?? Let’s chat and get this expense under control!🥗🛒
83 7316 August, 2020
Here are 8 frugal habits that have helped me to save money. Do you have other suggestions?
👉Excuse any spelling mistakes, I'm Swedish👈
1️⃣ MEAL PLAN: Food is one of my familys biggest expenses. Meal planning keep us from making impulse purchases when we grocery shop. Planning what we are going to eat and when, and making food at home prevent us from getting take out as often. We cook at home as often as possible.
2️⃣ WANTS VS NEEDS: When I want to buy something or when I look at my expences I ask myself if it's a want or a need. If an item is a non-essential it can be cut from our budget until our debt is paid off. Don't buy stuff because you want to impress people. Don't keep up with the Joneses, they are broke!
3️⃣ BIKE MORE: Transportation is one of our biggest expenses. I try to take my bike to work more often. It's a simple way to save money by not having to pay for gas and having less repairs on my car.
4️⃣ DECLUTTER AND SELL THINGS I DON’T NEED: I declutter on a regular basis. When I find stuff that I don’t really need anymore I sell it to make money.
5️⃣ NO SPEND DAYS: I challange myself to have as many No Spend Days per month as possible. I count a No Spend Day as a day when I don't spend money on anything, and instead use what I already have paid for and have at home
6️⃣ KEEP A LIST OF FREE ACTIVITIES: I look up free things to do in our area and keep a list on my phone. This way I have an idea of what we can do instead of spending money.
7️⃣ USE THE LIBRARY: I love my library! I usually only read books once so I don't feel I have to own them. If my library doesn’t have the book I want to read I contact them and there is usually no problem for them to add the book to their collection.
8️⃣ COMPARE PRICES: Comparing prices is extra important when buying something expensive. This way you make sure that you’re getting the absolute best deal when you want to buy something.
33 1,4796 August, 2020
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29 12519 hours ago
👋🏼New Friends! We are The Carroll’s, Dan & Liz. This 📸 was taken at my college graduation in ‘89. We were dating. Within 18 months we were married, moved states, changed jobs and bought our first rental house. We’ve since raised two children, moved states again, changed jobs and industries, built three houses, and so on. Real estate has always been our constant companion. We’ve had multi-family, still have a four-plex, but longterm single family is our favorite. We love helping other families. Over the years we’ve refined our model and streamlined our processes but we stay fairly old-school. We live debt free. We self-manage all 20 of our properties. We prefer cash deals (don’t get us wrong, we didn’t start out cash buyers. It took years to get there!). Real estate retired both of us from our corporate careers. 🔥 #fire We bought two more properties last month but what makes us the most proud is our son and his new wife just bought their first. 💙 On this profile we share about money, marriage and mindset and what you can accomplish with a written plan (with a lot of love for real estate and the natural beauty of our Oregon Coast setting sprinkled in). Thanks for joining us. Tell us a little about you. ⬇️
We did grown adult things! We created our wills!⠀
This is something we always talked about doing, but put it off as we’ve never thought it something that is immediately necessary in our current age and time. I don't like talking about death but just like financial planning you need a plan for your passing.⠀
Planning for financial security means ensuring once you're gone, your finances are still secure and the burdens are not passed onto your loved ones to figure out. ⠀
Creating our wills was great, easy and not as scary as we had always imagined, which is the main reason we have postponed the process. @ramsey.solutions online will package provided a step by step walkthrough for each scenario needed to complete our wills. Forty minutes for two of us helped us solidify our family needs and provided us with a sense of peace.⠀
Another positive that came from this is the opportunity for open conversations about estate planning, our children needs, and if and how we would support local charities.⠀
We are so glad we did it! We recommend you do it too! August is National Will Month and we encourage you to create a will if you do not already have one. Use the code 20OFF to get a discount. Link in bio.⠀
.⠀ #Ad#AdultingWithAWill#FinancialPlanning#debtrfreejourney#debtfreecommunity#daveramsey#winnning #familyplanning ⠀
22 1275 August, 2020
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