Putting these out there is scary, but necessary! Last spring we became credit card debt free.....but a few months later we were back in debt. I have stated in previous posts that remodling did this to us. It seems to be our curse. Or perhaps, my curse. I love remodeling our house. I know that if I would quit with the remodeling then credit card debt would not occur. I am not a big clothes shopper, I am not one to put little things on a credit card, and I am not addicted to internet shopping. I am addicted to remodeling.
So, my husband and I have vowed to not lift a finger in remodeling, painting, anything for an entire year. The only exception would be an emergency fix...like our sink leaking and damaging our floor, etc. We are getting some Lowes gift cards from my mom for our upcoming birthdays and we have decided to use that money to fix some minor things...trim in our kitchen and our bathroom, repair a door knob, and replace a ceiling fan that is broken.
We really should be debt free of credit cards again this spring, but we have a few events coming up that we know we must save for....so here are the goals written down
1) Pay off our credit card
2) SAVE $4000 by this summer for the following reasons
Emergancy savings of $1000 (we have only $600)
Vacation savings--$1500
Homeschool supply savings $1500
3) Attempt no remodeling!
4) With the exception of our traveling on our vacation trip..I will vow to not eat out more than once a month
5) Workout more on my treadmill...I try to do this it least 3 times a week.
6) After our vacation and after school supplies are purchased I hope to save another $1000 for Christmas while growing the emergency savings to $2000. This is a hefty goal. My husband did get a little raise for inflation and we lowered our premiums on our healthcare. He is now making nearly $82,000 a year. It will be sad if we can not manage to save it least $3000 by the end of the year :(
Well, that is it. I will try and post more and keep this blog updated on progress. I have to say though...that we are truly doing well with our cash budget. I have been keeping our food budget to $100 a week and my husband has been working hard at spending less too. I think the eating out will be a toughy! Wish us luck!
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great goals!!! keep the positive attitude!!!! you will get there so soon!
ReplyDeleteYou might want to try, for a time, not eating out at all. We ate at Pizza Hut once in December for a birthday, but prior to that I think it had been since last spring or winter!
ReplyDeleteRestaurant meals are just SUCH a budget-wrecker. You can buy much more food to eat at home with the same money. The restaurants will still be there once you get your finances under better control.