Forty-something wife, mom, mother-in-law and grandma (aka Honey) in sunny ArizonaWell, I am starting our new budget this month! It will still feel a little wonky as I get used to the new situation, and waiting for overpayments and paying off underpayments. Thankfully, there isn't much going to underpayments. I am getting 2K back from our mortgage that was paid off, that I didn't realize. And then there are a few other overpayments here and there.
Today, I "paid" the bills (they are automatic, but I took the time to check the budget, transfer monies, and document everything). The hard part of all of this - is the day to day spending... making sure the husband is using ONLY ONE CARD (vs. a debit card here, our Citi there, etc.). One major reason for the debt consolidation was to KEEP IT SIMPLE. So, we will have a bit of a learning curve... But I know we will be experts soon enough.
This will be a HUGE spending month for us. I am paying for my granddaughter's first 1st birthday party tonight (pizza and wings) and then my daughter is getting married next Friday (simple courthouse wedding with a dinner afterwards for 25 people), so I am paying for that dinner. And then we have her baby shower in August, the room alone cost me $750. All this is much cheaper than a traditional wedding... and I am sincerely happy to do all of this for our kids/grandkids.
I mentioned in one of my last posts that I've opened our new Roth IRAs with Merrill. We are funding them next week! $300 each. Hoping to bump that up to $500 a month for each of us by Feb. of next year (when I am set to get my first raise at my new company). $500 a month will max us out for the year.
July 1 Savings Totals
CU1: $10,926
CU2: $629
401K - DH: $33,017
401k1 - H: $53,534 (previous employer)
401k2 - H: 3,768 (2% contribution)
Cash: $1,950
We have a busy weekend ahead! Hope you all have a fabulous 4th of July!
July 2nd, 2022 at 01:16 pm 1656764212
If he needs a credit card to feel ‘safe’ for emergencies, put some kind of frown face sticker on it so there is a quick reminder ‘Nope.’. And move it to a less accessible place in his wallet.
I agree with budgeting for all the upcoming events. Take the money in cash, put it in three envelopes, and pay as you go…
July 3rd, 2022 at 10:58 pm 1656885503
@lots of ideas - Ha, that is a great thought. I think in my head I have Citi/Costco for Costco... and then BofA for other day-to-day. It may take some time to get into the best rhythm, but I know we will get there. Especially as we work REALLY hard to curb spending in quite a few areas. I have an Escrow account for upcoming holidays, events and celebrations. We put $600 a month away, so that it's always cash flowed! Such great tips! Thank you!