It's a very hands-on book. I appreciate the opportunity to approach these numbers and figures that plague me from a different angle. After about an hour of reading and filling out worksheets and doing some calculating:
• the target amount (monthly) to cut from 'Must-Haves' spending: $1,523
• need to shop around for renters, life and disability insurance
• need to ascertain when we can get out of our cell phone contract and switch to pre-pay
• need to see if we can get a discount on our last remaining student loan bill
• need to look into FSA/HSA
• need to lop off a total of $1,500 per month...wow. this enters putting the kids in school and my getting a job territory...
3 comments:
Just remember that what you read is just one person's view on finances. What are the goals they are asking you to accept? What will the 1500.00/month go to? Is it worth the trade off of sending your kids to school? 1500.00 can likely be earned in the context of a part-time job that wouldn't require putting the boys in school. That last bullet point made me shudder - I think of this sometimes, given all the work I have to do that is piling up. And so far, I always choose to let something else go that is taking up my "not work" time, so I am not taking additional time away from the girls. It's the reason I won't "social network," or start a blog, or anything else that will soak up the time that would otherwise be spent with Lila and Pippa. If I didn't have to work, I might feel differently about engaging in those things. But I do have to work, and am thankful that I get to do this from a home office. I just can't see uprooting them from their happy home school life just so I can work more. I'll take the hit financially, because really, life is just too short, and their childhood is shorter still.
Ohhh, I didn't mean to imply we're putting the kids in school so I can get a job!!
What I did mean was that a figure like $1500 is significant and can't really be achieved by pinching some dollars here and there.
It feels good to have some concrete steps to take...to have had the experience of reading in plain language things I've thought about, but have been disorganized around.
I haven't read the whole book either, just a snippet. The thrust of what they are saying (so far) is to achieve financial balance in the following way...
One's income should be 'spent' this way: 50% 'Must-Haves' (needs), 30% 'Wants', 20% Savings.
Thanks for the clarification! You hit a nerve with some of my own financial concerns here, cause, unless one spouse is really raking it in, homeschooling is a big commitment and requires lots of financial sacrifice.
Good luck with finding balance in the ebb and flow of things :)
xo
Post a Comment