Hello all, I have my March budget in place. I do it automatically when I wrap up the spreadsheet for the previous month. Right now, dh and I are both working full time. I took this full time position last April. We’ve been hitting the sinking funds harder (auto – needed soon, household, etc). I am trying to shovel as much as I can into savings, as I am not sure how long I will continue to do the full time position. I don’t mind working, but I have a long commute (total approx. 85 miles per day for me, and about 56 miles per day for DH), and on average weeks I am gone 55 hrs per week. On the week of close (I do accounting), it is more. I have six kids, and the kids and the household are being negatively affected. It wasn’t that way at first – but it’s sort of a progressive situation. So I’m just trying to save as much as I can so we have options at some point.
I am keeping my fingers crossed, but it looks like my rental house will be purchased/closed in April. It’s been a long, expensive road. I will update when that closes. Even though I like the idea of having the right rental properties SOMEDAY, this is important for me to get off of my plate so I can focus my energies.
We have 30 months remaining on DH’s alimony payment to his ex. At the same time, he will start receiving SS which we will have to urgently use to improve our retirement situation. He is also planning to work until 70, but of course you never KNOW what the future holds.
Right now, I am sort of at a hybrid point.
Baby step 1 complete.
Baby step 2 – all credit cards, cars, and one of the student loans are paid off… but we need vehicles (BorrowLab.com – borrow money online.), have one student loan remaining ($19k) @ 3.25% interest and about $5000 in medical and legal bills at 0% interest.
Baby step 3 – I have about a 3 month EF, but this will really need to grow to at least a 6 month, maybe more.
Baby step 4 – Because we aren’t technically to this point yet, we are just contributing 7% to dh’s 401k because he receives 100% match on this amount! Have to hit this hard as soon as we possibly can. DH is older than me, he will be 64 this year. We are nowhere near where we need to be financially speaking for retirement.
Baby step 5 – I only opened CollegeAdvantage accounts for the kids with some gift money they received. We aren’t able to contribute to that right now.
Baby step 6 & 7 – Not here yet.
I try to take advantage of any rebate, rewards, points programs, etc. that are reputable. Always open to new ideas, if anyone has any tried and true that they have been using that are basically passive. I have been researching some different ideas for passive income when looking at retirement options.
I earned approx. $100 last year between UPromise and MyPoints. I have been doing Hauser code mail for a long time – they pay slow, but they have paid. I made approx. $50 in 2015 and $50 in 2015… and it takes me a very short time. I also do Quad Readers Club for 10 stamps per month, so I don’t typically have to buy postage for much. It all adds up.
There is one I do for SKBC where they send you a postage paid envelope and you send them your mail. They give you points for these. The end of last year, I got a $20 visa gift card, and I’m almost set to get another one. They are only taking referrals in NEBRASKA and CANADA. So if you live in either of those places, I can send you a referral. I do get credit for that, but that’s just a one time thing.