Home > Happy July 1

Happy July 1

July 1st, 2022 at 07:51 pm

Well, 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!

2 Responses to “Happy July 1”

  1. Lots of ideas Says:

    This might seem obvious, but if your husband is supposed to use only 1 card, why wouldn’t he carry just that card?
    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…

  2. Honey Says:

    @gratefulsaver - I have on my sidebar the amount we will be paying extra towards mortgage each month. Our first payment on the new mortgage isn't until August. I have $1500 a month I will pay to that. This will be the first time ever we made additional payments this way, so it will definitely take some strength to hit send on that amount each month. But I have faith in myself! haha... As far as the baby shower goes, I completely understand how it can get out of hand quickly. I think the room and the food will be the two biggest expenses. The decorations will all be DIY. I am so glad we are in a position to make her day amazing! P.S. Cash flowing all of it.

    @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!

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