Money Matters
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Re: Money Goals
You will get there, don't worry. One of the things that has helped me is plugging extra money into the snowball spreadsheet and seeing how much quicker we will be done. Then I try to find a way to make extra money to have that number happen.
I feel you on stop caring. We were always those people who thought we were doing just fine. We paid our bills with no problem, invested into retirement, had a mortgage payment of less than 25% of our income, and had 6 months E-fund. But in the end we realized that we were wanting to go on trips and do things with friends that cost $3-5k (we love to travel) and it would take us all year to slowly save to make it happen. We realized that on our income that shouldn't be a problem and was rediculous that we had to pinch in order to get that amount saved.
Just remember that you've made this decision to better your life and your future. You now know what to do with your money and tell your money how to act. There's so much more to Dave Ramsey's plan than just getting out of debt. It's the mental/emotional part of money too.
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
Then it's focusing on efund until the baby comes. We should still be saving after baby, just not like before.
In January, H is opening a 401k with his company with a 5% matching. I've had mine for 7 years.
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
@jessica490 @hoffse : 25% is just one year - next year you many only make 2%.... its not going to average 25% for the next 30 years... Although 8% is on the low average end and it would hopefully be more like 12% but you never really kno... i'm still really only earning 4% then. Because right now i essentially have compound interest working against me. My student loan payment each month is more then our house payment! ..and thats essentially paying maybe 100 more then interest only. Once the student loans are paid off i'll have an extra 800 a month to put in retirement.
Although, right now my husband invests 3% in his 401k and he doesn't get any match for 6 years and thats IF his stays with his company for that long which he isn't sure he wants to. However I am now fully vested and my company would match 50% of what we put in, up to 6%. So right now our plan is to move the 4,000 he has in old 401ks over to an IRA and then he will close his 401k and i'll open one and contribute the same. That way we are actually getting matched. Id happily wait a few years to pay off debt faster but my husband is insisting on the 3%.
@vlagrl29: Were those private loans? Because Federal loans even when consolidated just take the average interest rate on your loans and then give you a .25% deduction from that.... not a whole new rate.
1. save for retirement- I feel like we are in catch up mode because DH wasn't saving much before we were married.
2. save for college. I'm feeling pretty good about this after looking up our account balance the other day. Based on tuition not raising exponentially over the next couple years, I realized we should have DS's 1st year of college paid for when he is 3. That was really exciting for me because it means that this may be do-able for our kids, not matter how many we end up having.
3. save for a new house. We will be moving between now and when DS enters school- or middle school at the absolute latest. Our school district is good, but we ended up in a very bad school zone. The elementary is ok, but the middle school and high school are not acceptable to me at all. This is a big one because it will be pretty expensive for us to move into the area I want us to be in- talking about doubling the price of our home. But it will be worth it.
Short term goal would be saving for a vacation. We are trying to go to either Costa Rica or Aruba in either January or February.
I haven't heard of that either! Maybe one of those great programs they don't do anymore. Mine are all 6.8%. I could drop a little by doing auto pay but I don't trust auto pay for anything that matters (ie anything other than Netflix).