Ok, well, the title might be a little bit misleading. After all, I think the following is fun! However, I'm a nerd :)
I mentioned in the previous post that we are receiving nearly $10,000 back with our tax refund. That's a full third of all the money we made last year! The exact number is $9,586 of basically found money.
I want you to think of the 22-year-olds that you know. Now think of handing one of those people 10 grand. Are you shuddering? I thought so.
However, Lubby and I are not your typical twenty-somethings. Hence the title of this post. We've already spent this money on paper, on purpose, before even getting it. The following is a break-down of how we've sucked the fun out of this huge amount of money.
9586
-195 tax preparer fee
9391
-2516 pay off carpet debt
6875
-5000 finish off emergency fund (3+ months)
1875
-1800 "pay back" to ourselves (we had to borrow personal fun money to live on sometimes)
75
-75 nice dinner somewhere
0
Now, I know this isn't as exciting as a whirlwind trip to New Zealand. Yet I get butterflies of excitement knowing that we will have our emergency fund finished and be ready to dump all of our extra income into IRAs, saving for said trip to NZ, and our mortgage.
Yes, I know you are amazed. I will consider coming to speak to your 20-something son or daughter about the virtues of financial wisdom. First you must be really nice to me :)
In all seriousness, though, why is our financial picture so far out of the norm for our demographic? It CAN be done, and it's not like we even make very much money. If you know someone just getting started in life, or someone who's lost hope in young America, or anyone really who might be inspired by our journey, please pass this blog on.
Showing posts with label saving. Show all posts
Showing posts with label saving. Show all posts
Saturday, March 20, 2010
Wednesday, June 3, 2009
Net Worth-- May 2008
Unfortunately, I will be unable to give a budget-breakdown for the last few months. Truth be told, I've/we've been somewhat rebellious with the uber-tight budget. The end of May found us at a restaurant nearly every day (sometimes twice a day). Thankfully, Lubby's steady part-time work and my three part-time jobs made for more wiggle room than I remember having ever in our married lives.
Follows is an update on where we stand as of the first of June:
Assets:
Checking: $3,000
Savings: $1,005
Liabilities:
Car: $2,435
Net Worth:
$1,570
**********
Would you look at that! A positive net worth! In only a few short months of focused dedication, we can not only afford to live, but pay down our debts and own more than we owe as well! Exciting! This net worth number is excluding student loans. Both my husband and I are blessed to have parents who shoulder that load for us. Should the time come when we take on that responsibility, I will add it to the "liabilities" list.
June is going to be a 'survival' month. We likely will not make as much money in June as our budget requires (about $1700 with Lubby's school). Fortunately, July looks like it will be much more lucrative-- we only need to make it until then. I shall explain how our budget allows for this 'short' month in an upcoming post. Until then~
For a look back, see February's update and January's initial post.
Follows is an update on where we stand as of the first of June:
Assets:
Checking: $3,000
Savings: $1,005
Liabilities:
Car: $2,435
Net Worth:
$1,570
**********
Would you look at that! A positive net worth! In only a few short months of focused dedication, we can not only afford to live, but pay down our debts and own more than we owe as well! Exciting! This net worth number is excluding student loans. Both my husband and I are blessed to have parents who shoulder that load for us. Should the time come when we take on that responsibility, I will add it to the "liabilities" list.
June is going to be a 'survival' month. We likely will not make as much money in June as our budget requires (about $1700 with Lubby's school). Fortunately, July looks like it will be much more lucrative-- we only need to make it until then. I shall explain how our budget allows for this 'short' month in an upcoming post. Until then~
For a look back, see February's update and January's initial post.
Saturday, May 16, 2009
Hooray for Murphy-repellant
Murphy's Law: Anything that can go wrong, will.
A few weeks ago, the air conditioner in my car went out. It started making a noise that sounded like air escaping and then started blowing hot air. Not a good thing, especially when it's already consistently 80-90 degrees here.
When we bought the car, the air was blowing hot. I'm glad we checked, because it was October when we bought it. We had them check it out before we signed anything. It was a good thing, the salesman insisted, because instead of the 'just a recharge' fix he had previously insisted it was, it was a crack in the condenser, and that would have cost several hundred dollars to fix. But, since they caught it before we bought it, they fixed it for us-- no charge.
Fast forward to April. After a few weeks of light AC use, it starts making that ominous hissing sound and blowing hot. Since I have very little clue about anything under the hood, I couldn't remember what part it was that was broken before or what exactly was wrong with it. We took it in to an independent mechanic and got it diagnosed and repaired-- this time they replaced the whole condenser. Stupid, slimy used-car dealer not fixing it like they were supposed to... Oh, did I say that out loud?
Damage: $600
But you know what? That's OK! Because even though Murphy was in my back seat by right (I did finance the car, you know), we made it clear he was not welcome and kicked him to the curb.
How? Our mini-emergency fund. We followed Dave's advice (Dave Ramsey) and kept $1,000 in the bank "just in case." So, a problem that could have wreaked havoc on our finances was really simply a matter of getting it fixed, paying the guy, and taking it home.
Moral of the story: Get an emergency fund! Sock away every spare dollar you find until you have that little safety net safely in a high-yield savings account! That way, when life throws you lemons, you can say, "Hey, look! It's a lemon!" and get on with your life. Without the safety net, life throws you lemons, and all you can do is suck the juice out until your face is puckered grotesquely. So just do it. Start today. You'll be glad you did.
A few weeks ago, the air conditioner in my car went out. It started making a noise that sounded like air escaping and then started blowing hot air. Not a good thing, especially when it's already consistently 80-90 degrees here.
When we bought the car, the air was blowing hot. I'm glad we checked, because it was October when we bought it. We had them check it out before we signed anything. It was a good thing, the salesman insisted, because instead of the 'just a recharge' fix he had previously insisted it was, it was a crack in the condenser, and that would have cost several hundred dollars to fix. But, since they caught it before we bought it, they fixed it for us-- no charge.
Fast forward to April. After a few weeks of light AC use, it starts making that ominous hissing sound and blowing hot. Since I have very little clue about anything under the hood, I couldn't remember what part it was that was broken before or what exactly was wrong with it. We took it in to an independent mechanic and got it diagnosed and repaired-- this time they replaced the whole condenser. Stupid, slimy used-car dealer not fixing it like they were supposed to... Oh, did I say that out loud?
Damage: $600
But you know what? That's OK! Because even though Murphy was in my back seat by right (I did finance the car, you know), we made it clear he was not welcome and kicked him to the curb.
How? Our mini-emergency fund. We followed Dave's advice (Dave Ramsey) and kept $1,000 in the bank "just in case." So, a problem that could have wreaked havoc on our finances was really simply a matter of getting it fixed, paying the guy, and taking it home.
Moral of the story: Get an emergency fund! Sock away every spare dollar you find until you have that little safety net safely in a high-yield savings account! That way, when life throws you lemons, you can say, "Hey, look! It's a lemon!" and get on with your life. Without the safety net, life throws you lemons, and all you can do is suck the juice out until your face is puckered grotesquely. So just do it. Start today. You'll be glad you did.
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