I've spent November and 1/2 of December coming up with realistic spending for each week and I'm coming up with some good averages for "starting and sticking" to a budget for January 08.
As far as health insurance, I decided to do the high deductible insurance plan through DH employer and will set up the Health Savings Account at a local bank (funding $2000 per year). With this reworking of the net pay check, I have increased the 401(k) from 6% to 10% and have set up $100 per month to go to education savings (I know it should be quite a bit more than that and hopefully soon)
I have looked into part-time employment at the local junior college to bring some money in (been a SAHM for ten years now). Youngest child just turned three.
We're evaluating selling our rental property and coming up with a different investment strategy. Currently the upkeep, taxes and mortgage for both properties is about $2,500 per month and I am getting tired of feeling "cash poor" and "paper rich", and not at all happy with out net worth tied up in real estate (though our estimates are conservative).
It's been helpful popping in from time to time and seeing people post their daily frustrations/accomplishments. As for me, I was just tired of the numbers. I am hopeful though that things can improve with some sound and solid decision making on our part.
Thanks for being an inspiration group of money people!
Looking forward to 2008
December 17th, 2007 at 09:54 am