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.
Starting Fresh
December 29th, 2016 at 03:26 pm
December 29th, 2016 at 04:18 pm 1483028295
December 29th, 2016 at 04:28 pm 1483028919
http://www.frugalwoods.com/2016/12/05/lets-take-the-uber-frugal-month-challenge-together/
December 29th, 2016 at 05:06 pm 1483031198
December 29th, 2016 at 05:26 pm 1483032365
December 29th, 2016 at 06:02 pm 1483034533
December 29th, 2016 at 07:00 pm 1483038022
Would I be financially in the same spot as now? NO way. But maybe other factors would have changed too.
December 29th, 2016 at 07:32 pm 1483039977
December 29th, 2016 at 08:02 pm 1483041770
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.
December 29th, 2016 at 08:31 pm 1483043487
Good Luck!
December 29th, 2016 at 08:55 pm 1483044934
December 29th, 2016 at 09:25 pm 1483046703
December 30th, 2016 at 02:26 pm 1483107966