Tuesday, October 8, 2013

Finances

Jake and I have recently sat down to discuss all of our finances and try to figure out a plan to pay off our debts and budget our spending. We found a really nifty template for excel that does all the math for us and all we had to do was fill in the blanks. Realistically we don't have many bills but we do have a loan out on the motorcycle, my student loan, and two credit cards we need to pay off.  We are going to make an effort to pay more monthly on the credit cards and his bike loan. We are also trying to figure out a monthly "other" expense limit or "fun money." This will be taken out in cash at the beginning of the month and this will be the only amount we have to spend on snacks, dates, etc. I'm also trying out couponing a little more to keep the cost of groceries down. Luckily for us, we are on a slow carb diet so all I have to buy each week is beef, chicken, and canned beans since that's all we are allowed to eat on this diet. 
Money troubles Meme | Slapcaption.com
Putting more money in savings is also a goal for us. I heard you are supposed to have three months of expenses covered in savings in case of an emergency so that is our goal. We each have automatic transfers going into savings for all our paychecks and we should have a good savings built up quickly. 
All while trying to save money and budget better we have had a few road blocks come up. Jake's car has taken a crap and will not start. We aren't sure if it's the battery or the starter or something completely unrelated and we don't have the money or means to get it into the shop right now. We've mostly put it off because my car still works great (even though it's in desperate need of new front brakes), and Jake has his motorcycle..for now. This morning on his way to work the side panel on his bike that covers the filter, chain, tool box, and gas line fell off and broke and he has also been having troubles with his battery randomly dying on him while he is riding. So we have to focus on getting his bike fixed now too. Not to mention we have the Marine Corps ball coming up and tickets aren't cheap, we got a hotel for that night, I still need to get a dress, we have Halloween costumes to plan and make, a cover charge to pay for the place we are going on Halloween, and Jake is going to Vegas at the end of the month with family and will be spending large amounts of money there too I suppose. It's true that sometimes everything bad happens at the same time. I just can't wait until we get all this sorted out so we can get to budgeting and saving for real and get our debts lowered!
MEME - MONEY Y U NO GROW ON TREES www.cashadvance.com
I am however blessed that my Husband and I do not live paycheck to paycheck. We are not so broke that we can't afford food or gas or date nights. We don't freak out if pay day is a day or two late. We live comfortably and the decisions we make every day is the reason for that. I always tell my husband that he is lucky to have married a women who hates shopping and wasting money. I'm not a girl who sees clothes or makeup or anything and thinks "I NEED THIS RIGHT NOW" and throws the credit card around for things I don't need. I am the complete opposite and I love myself for that and Jake does too. 
Had to go shopping i hate shopping - First world Problems II | Meme Generator

11 comments:

  1. Budgets are so awesome, Carl and I should really make a stricter one. We're normally SO GOOD with money, but ever since I totaled the car our financial situation has been a nightmare and the car STILL isn't fixed. So that sucks. But everything will pass and soon we'll be ok in the money department again.

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    1. Unexpected expenses is what gets us too! Pain in the butt!

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  2. I hardly shop either! I'm so cheap.. Lately we've been spending a little more, but after looking over our statements, we're going to cut back again. Luckily, we have no debt, and the biggest chunk of each pay check is able to go to savings.

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    1. You are so lucky to have no debt. The debt is what worried me the most. I hate buying things without having the cash but sometimes you just can't avoid it. Can't wait to be debt free!

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  3. One thing that we've tried to do is live on one salary. At the moment, what I make goes to paying off our credit cards or into savings. Hopefully, I'll get a more steady job soon, and then that will go to paying down my student loans. But good luck! Making a budget and sticking to it can def be challenging!

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    1. That's a really good idea. Before I got a job my Husband was paying for all the bills and we kept up with everything. Maybe having him do that and then putting my whole check to the debt/savings would help?

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  4. I have credit cards that I'm trying to get paid off, so I feel ya!! I also don't shop either. If I do, it is either the clearance racks at Target, Walmart, or Goodwill (so much great name brand stuff!!) Also, I have a rule, it usually has to be under $25 and if it is, it still has to be worth it.

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    1. Oh yeah I love the clearance racks at Target! I have got a lot of really cheap cute clothes from there! I also don't like to spend over $25 for an article of clothing. I have a hard time justifying spending $30 on a plain t-shirt.

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  5. Always good to have a plan and make good financial decisions. Groceries are definitely high in this area. It adds up!

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    1. Groceries are killer in California! It's ridiculous and I don't know how families do it!

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  6. Good luck on starting to save and pay off debts! I always feel so awesome when I can go to the store and use coupons or get things on sale!

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