Reply Hey Mom! Learn more about the Gerber Life Insurance Grow-Up Plan!
 
Thread Tools Display Modes
Old 01-18-2018, 09:36 PM   #1
BusyPAMommy's Avatar
BusyPAMommy
Registered Users
seller
 
Join Date: Jul 2013
Posts: 692
New Yearís Budget/Debt Free/Financial Goals Chat

Looks like itís been a while since weíve had one of these threads so I thought Iíd start one since DH and I took a look at our finances right after Christmas and set some new and clear goals for 2018. This is such a great place to get support and encouragement.

We are motivated by the fact that Iíll be going from FT to PT at work halfway through the year. Iím nervous about the lost income but really excited to have better work/family balance. So we worked out a budget based on my future part-time salary and are sticking to that and using the extra pay towards our non-mortgage debts. Our goal is to pay off a large credit card bill (that Iím ashamed of because weíve paid it off in the past but managed to run it up again in the past year) and our car loan before I go PT. I also have a close-to-paid-off grad school loan that we probably wonít be able to finish before July when my schedule changes, but if we keep our modified snowball going (we are payingthe debts in order of highest to lowest interest) we should be able to knock it out by October. Itís going to take commitment, but if we stick to the plan then weíll be debt free excepting our mortgage, a feeling I havenít known since 2001 when I started grad school.

How about everyone else? Did you make any New Yearís financial resolutions?

Advertisement

__________________
Mommy to Mini Me and Pork Chop. Happily trying to keep it all in balance.
BusyPAMommy is offline   Reply With Quote
Old 01-19-2018, 04:10 AM   #2
Agla's Avatar
Agla
Super Admin We can do it!
sitesupporter
seller
seller
 
Join Date: Jun 2010
Posts: 16,703
My Mood:
Re: New Yearís Budget/Debt Free/Financial Goals Chat

We have changes headed our way with my dh's new job. So the goal is to be as careful as possible with our finances and track everything.

The insurance plan has pretty high deductibles if you don't use approved providers so we have to watch that.

I'm taking over the food budget and I need to make sure we don't go over.

Basically, we need to figure out in the next few weeks how it would feel living with this new salary and if we can sustain it.
__________________
Here to help if I can.
Shameless referral links: Soft Star shoes are awesome. Buy them here. PM me your email for 15% of your first Boden purchase.
Agla is offline   Reply With Quote
Old 01-19-2018, 08:10 AM   #3
MamaChirpy's Avatar
MamaChirpy
Registered Users
seller
 
Join Date: Jul 2013
Location: South MS
Posts: 7,964
New Yearís Budget/Debt Free/Financial Goals Chat

I'm in! We are doing our best to bust through some debt. We have several non-mortgage debts. And I'm ashamed of a couple of them because we had them zeroed out and then ran them up again.

I just ordered some necessary things for the children but I am putting myself on a no-spend (except for food and bills of course) marathon.
MamaChirpy is offline   Reply With Quote
Old 01-19-2018, 08:53 AM   #4
Agla's Avatar
Agla
Super Admin We can do it!
sitesupporter
seller
seller
 
Join Date: Jun 2010
Posts: 16,703
My Mood:
Re: New Yearís Budget/Debt Free/Financial Goals Chat

Yesterday, I went in to get a few groceries and I stayed on budget. I was over charged for an item and had to go to customer service. My dh has complained about this happening at this market so I really need to watch.

The kids chattering in my ear made it difficult but not impossible. I also need to download their app. See if any deals can be found.

Dh then stocked up at Aldi's. I'm only going to be able to go to Aldis once a month now instead of dh going whenever.
__________________
Here to help if I can.
Shameless referral links: Soft Star shoes are awesome. Buy them here. PM me your email for 15% of your first Boden purchase.
Agla is offline   Reply With Quote
Old 01-19-2018, 05:36 PM   #5
jen_batten's Avatar
jen_batten
Registered Users
seller
seller
 
Join Date: Oct 2008
Posts: 11,746
Re: New Yearís Budget/Debt Free/Financial Goals Chat

Can I join even if I don't have debt goals? We only have the mortgage but we are working on saving up the big 3-6 month emergency fund--we have about $6K left to save.

I am also storing away pennies for a really nice swingset for the kids.


Quote:
Originally Posted by MamaChirpy View Post
I'm in! We are doing our best to bust through some debt. We have several non-mortgage debts. And I'm ashamed of a couple of them because we had them zeroed out and then ran them up again.

I just ordered some necessary things for the children but I am putting myself on a no-spend (except for food and bills of course) marathon.
A no-spend month or whatever is great for catching up and kind of resetting the budget. My only caution would be if you try to make yourself go too long or too strict then sometimes it backfires and you go a little overboard the other way.

Anyone use budgeting software? We use every dollar.
jen_batten is online now   Reply With Quote
Old 01-19-2018, 07:52 PM   #6
Elchorrito
Registered Users
seller
 
Join Date: Apr 2016
Location: Indianapolis, IN
Posts: 1,682
Re: New Yearís Budget/Debt Free/Financial Goals Chat

...moved post to weekly chat

Last edited by Elchorrito; 01-19-2018 at 07:54 PM.
Elchorrito is offline   Reply With Quote
Old 01-19-2018, 11:02 PM   #7
BusyPAMommy's Avatar
BusyPAMommy
Registered Users
seller
 
Join Date: Jul 2013
Posts: 692
Re: New Yearís Budget/Debt Free/Financial Goals Chat

Quote:
Originally Posted by MamaChirpy View Post
I'm in! We are doing our best to bust through some debt. We have several non-mortgage debts. And I'm ashamed of a couple of them because we had them zeroed out and then ran them up again.

I just ordered some necessary things for the children but I am putting myself on a no-spend (except for food and bills of course) marathon.
This sounds similar to us. We had a big credit card bill that we'd paid off then after a year or so it crept up there again. It was due to travel--to see family, including a terminally ill family member--so I can't say I regret spending the money, but I'm really ready to be off this merry-go-round for good.

I'm also trying to commit to a spending freeze--no clothing purchases for myself for 12 months.
__________________
Mommy to Mini Me and Pork Chop. Happily trying to keep it all in balance.

Last edited by BusyPAMommy; 01-19-2018 at 11:16 PM.
BusyPAMommy is offline   Reply With Quote
Old 01-19-2018, 11:15 PM   #8
BusyPAMommy's Avatar
BusyPAMommy
Registered Users
seller
 
Join Date: Jul 2013
Posts: 692
Re: New Yearís Budget/Debt Free/Financial Goals Chat

Quote:
Originally Posted by jen_batten View Post
Can I join even if I don't have debt goals? We only have the mortgage but we are working on saving up the big 3-6 month emergency fund--we have about $6K left to save.
.
Anyone use budgeting software? We use every dollar.

Yes, join in! Getting the e-fund to where it needs up be is our step, we can use encouragement and inspiration at all stages!

I have been thinking hard about whether to use budgeting software but we worked out a monthly budget on paper so for now we are just taking out our discretionary funds in cash each week and making it stretch and that's been working for us. I began the process of signing up for Mint but balked at the idea of entering so much account info and all my passwords.
__________________
Mommy to Mini Me and Pork Chop. Happily trying to keep it all in balance.
BusyPAMommy is offline   Reply With Quote
Old 01-20-2018, 07:25 AM   #9
jen_batten's Avatar
jen_batten
Registered Users
seller
seller
 
Join Date: Oct 2008
Posts: 11,746
Re: New Yearís Budget/Debt Free/Financial Goals Chat

I have a mint account to but I don't like it. Last year I went through and tried a few different budget programs, so I had several going at once. I would have went with You Need A Budget because I liked it fine and it's cheaper than the premium version of every dollar but it's not compatible with my bank. Every dollar is. And it keeps me from forgetting to write anything down. I never cancelled the mint one because it's free, but I don't really use it.
jen_batten is online now   Reply With Quote
Old 01-20-2018, 08:49 AM   #10
Agla's Avatar
Agla
Super Admin We can do it!
sitesupporter
seller
seller
 
Join Date: Jun 2010
Posts: 16,703
My Mood:
Re: New Yearís Budget/Debt Free/Financial Goals Chat

I use the mint app but did not enter my banking information. I use it to get a quick snapshot of my cc. It helped me catch a false charge recently. I do have budget categories set up but I need to reconfigure them. I pay everything with cc to accrue the points and pay off immediately. The little extra helps.

My dh prefers paper too.
__________________
Here to help if I can.
Shameless referral links: Soft Star shoes are awesome. Buy them here. PM me your email for 15% of your first Boden purchase.
Agla is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Copyright © 2005 - 2018 VIX-WomensForum LLC. All Rights Reserved.