We are now starting month 2 of being back on our cash-only budget. Last month was relatively successful, but I did cheat a little on the groceries and stocking up for an upcoming party! I really need to hold myself accountable this month and stick to the budget I laid out ahead of time. I am hosting a couponing class for some friends this weekend, and I am actually looking forward to practicing what I preach again :)
John and I also set up a thermometer for our savings plan like we did for our debt repayment. What was so exciting about doing this was the fact that last time we were marking off what we were paying to other people, this time we get to mark off what we are paying to ourselves!! We will just have to make sure that whatever we put in savings stays there and doesn't come out!! We have a goal for $20,000 to put a decent down payment on a home with a sizable nest egg for home related emergencies or repairs. I think that it is totally do-able, and now that it is a visual goal, hopefully a lot easier to stick to and stay motivated!
John and I have also been sitting down to some inspiring and motivating "budget meetings" and just trying to get on the same page with our priorities; financial, emotional, and physical. He has been driving himself into the ground lately trying to keep up with a full-time job, school, being an amazing father and husband, and maintaining our rental property. He holds himself to such high standards, and it is hard for him to make sacrifices in something he takes pride in to better maintain his sanity. We had really big plans when we moved into this home a year ago to fix it up and make it a sanctuary, but I really don't think that it is possible anymore. We have spent so much time and money and energy and stress trying to make it look acceptable and it never seems to meet our expectations. It is such a great place to live, but if we keep being unrealistic, we are going to drive ourselves crazy! I have convinced John to only mow the lawn every other week and to give up some of the landscaping and repair projects he has planned. He needs to focus on de-stressing and working toward finishing his degree. There will be plenty of time in the future to make our own property outstanding, so we just need to maintain this place and stop trying to make it the nicest house on the block!! I could tell that when we made this agreement, that a ton of stress was taken off of his shoulders. I think it is important to re-evaluate ALL of your priorities every so often to make sure you are investing your time and energy into the right things!!
Wish us luck, and I would appreciate any other motivating strategies to stay on track and have fun at the same time!
I love reading your blog and am intrigued by any of Ramsey's followers since I attended his class last fall. To date I have paid off 10k of CC debt and working back up to a nice cushion before attacking 12k left on my car. I know I shouldnt do it this way but I am a single parent of 2 and I have been a nervous wreck depleting most extra funds to accomplish my first task. I must ask do you have your emergency fund in place prior to saving up for your home? I could be in your boat next year with home buying and am curious.
ReplyDeleteTina,
DeleteWe have our emergency fund set up, but that is it. We are putting away the $20k as both the down payment as well as our 3-6 month emergency fund to use as we need it :) I just couldn't see us putting off buying a house for much longer. Hopefully this is the right decision!