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Starting Fresh

December 29th, 2016 at 07:26 am

DH and I sat down and had a talk last night, and we are going to really focus on our finances this upcoming year. 2016 was amazing for us, but all the wedding and house expenses really set us back. Not to mention, we really want kids. Here's some tentative thoughts we've laid out:

Tabling the kids discussion until: 1) we eliminate balances on 4 credits cards (did I mention that we really fell hard off that wagon) leaving us with 3 cards that have balances 2) we have $5000 in savings (we currently only have $500)

I'm toying with adding that the total credit card balance across the 3 must be under 10k. Currently, the 3 total $16k. This one is a stretch, so I'm not sure about adding it in.

We have 2 remaining anticipated house projects, and then we're going to hold off on house things for now. The first is fencing. It was always the plan to fence this Spring using our tax refund as the jumpstart on those costs. The other is the hot tub. DH's dad hooked the power up, so all that's left is to fill it and see if it runs. We're also having a technician come out next week for $150 who will run through basic maintenance (how to monitor levels, drain it, change filters, etc.) and check over it. We're currently missing steps, but those cost another $100 for even the cheap ones, so we're going to hold off on that for now.

I think that in January, we can pay off 2 cards (Slate - less than $300 and Target - $250). Hopefully more since we're doing the Uber Frugal Month Challenge.

12 Responses to “Starting Fresh”

  1. scottish girl Says:

    What is Uber Frugal Month challenge? Like a No Spend Month?

  2. NJDebbie Says:

    scottish girl, here is the link for information:

  3. scottish girl Says:

    Thanks, I've just signed up!

  4. debt-free by thir-ty Says:

    Thanks NJDebbie for providing that!

  5. scottish girl Says:

    Have you joined on Facebook too?

  6. livingalmostlarge Says:

    Don't wait to have kids for money. You never have enough money. I regret waiting because it made us reconsider and not have the 3rd child we wanted. Mostly because of age from waiting. Of course some would argue we were in a better place financially so we argued less martially. And some would say we have very little economic strain now and then. True in all cases. BUT if I could go back I would probably have had my 1st DK1 2 years earlier then my DK2 and squeezed a DK3 fast 2 years later and be in the same spot age wise.

    Would I be financially in the same spot as now? NO way. But maybe other factors would have changed too.

  7. ceejay74 Says:

    Good luck! We did the same thing -- held off having kids until our finances were a lot better. It was hard to wait once we'd agreed we wanted kids, but it's better to be stable and secure before the baby comes because life gets turned upside down for a while.

  8. debt-free by thir-ty Says:

    SG, I did join the Facebook group as well.

    LAL, that's the dilemma we face since I'm not getting any younger. However, we both feel it is important to be in a little more comfortable position finance-wise given how fast we rushed into the wedding and house. I think the 4 cards paid off and $5000 savings are doable in 2017. I'm even going to push for mid-year, but I think that'd be pushing it if we added in the CC debt under 10k rule. My biggest concern is if we have difficulties getting pregnant, then I'd regret waiting. But fingers crossed and we'll just put heads down and work hard these next 6 months.

    Thanks Ceejay! I just really don't want to end up putting our kids in the same position my mom constantly puts me in, so I think it's important to at least start taking some big steps in a positive direction before throwing kids into the mix.

  9. MonkeyMama Says:

    I think it's prudent to wait to have kids. BUT... It's just a balance. So many of my peers are waiting until late 30s and 40s to have kids. I do NOT recommend that. But if you are in your 20s (I think you are) take some time to get into a better financial position. Since I tend to take a balanced position on most things, I guess I feel strongly about both sides. You just have to work out the middle ground that works for you.

    Good Luck!

  10. debt-free by thir-ty Says:

    MM, I just entered my 30s last week! I do still have plenty of time, but as I mentioned earlier, my biggest fear is regretting waiting if we end up having problems when we do start trying. I have friends in their mid-30s who regret not trying sooner because they ran into complications.

  11. scottish girl Says:

    I've joined the Facebook group, commented and had a good read Smile

  12. NJDebbie Says:

    I joined the FB group for the challenge. I'm ready to go!

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