Money Matters
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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.
Gtky
The board has seemed kind of dead lately- so let's try a couple gtky's.
What is the biggest part of your budget?
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
What is the biggest part of your budget?
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
Re: Gtky
2. My luxury is coffee for my keurig. Anything else is paid for with pocket $- so if I want a manicure I have to do it that way.
3. Current goal is to pay off the mortgage in under 10 years. I need to sit down with an amortization calculator and our current balance and figure out realistically how long it will take. We were hoping dh'a bonus would take a good bite out of the remainder but he just found out last week that they feel the company underperformed this year so the bonus may not be very big if they even get one.
4. Seriously I would put it towards the mortgage. We may go out to a really fancy restaurant to celebrate but then I would try to spend the rest of it responsibly.
Fun!
What is the biggest part of your budget?
Our mortgage
What is a luxury you budget for regularly?
We really don't have luxury items in our budget, if we want something luxurious we just discuss it and then buy it if we can afford it.
What is your current goal? How long should it take you?
We have a few, but our main goal right now is to pay down $10-$15K on our current mortgage so we can sell our condo in the spring! We should have this completed by April/May next year
If you got a 20k raise tomorrow- what would you do with it?
Well first, I would pass out lol! Then being my boring self, I would keep plugging away at our goals (paying down mortgage and saving more for our house DP), but I would also open up an IRA and add more to my 401K. If I had extra after that, I would spend more on vacations.
What is the biggest part of your budget?
Our Mortgage.. but other than probably groceries
What is a luxury you budget for regularly?
Good beer for the both of us. I don't know if I would call it a luxury, but we spend a little higher amount in gym fees, but I work out 6 days a week.
What is your current goal? How long should it take?
We just reached our savings goal for the year, so now we are focusing on paying off credit cards(which will be done at the end of the year). After that, we will build our current Efund, and start saving cash for home projects.
If you got a 20k raise tomorrow-what would you do with it?
I am not sure I would do much different than I already am. I would just be able to save more and payoff debt faster (like H's student loans and my car), which is next on our list anyways.
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
What is a luxury you budget for regularly? Vacations. We budget on average $1,500 a month for this. We're trying to maximize our time as DINKS. Once we start TTC this will change to a baby fund.
What is your current goal? How long should it take you? Our current goals are a new bathroom and to pay off our student loans.
If you got a 20k raise tomorrow- what would you do with it? We might increase our mad money amounts and then stash the rest in savings or toward mortgage principal.
What is a luxury you budget for regularly?
No luxuries, we're in Total Money Makeover mode.
What is your current goal? How long should it take you?
Build up savings like crazy before baby arrives (aka, hoard money). This will go until February when we're due, but we'll likely try to continue while I'm on maternity leave. Then anything left over after paying off the medical bills, will be applied toward debt. That will likely take us until December 2016 (given neither one of us gets raises and not including my commissions).
If you got a 20k raise tomorrow- what would you do with it?
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
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
What is a luxury you budget for regularly? DH and I get Thai food or go out to lunch 1-2 times a month.. it's small, but it's a nice treat.
What is your current goal? How long should it take you? We have one more year of 2 kids in day care full time. Our goal is to not have to dip into savings this year and be able to save at least $500/month. That money will go to our Roth IRA accounts for 2015. Long term- pay off the mortgage by 2020, fund the girls' 529 plans, go on some great vacations with my family.
If you got a 20k raise tomorrow- what would you do with it? I would use the $ for 2015 to fund our Roth IRA accounts ($11,000) and girls' 529 plans ($5,000 each... would have to come up with the extra $1,000).
What is the biggest part of your budget? Savings luckily.
What is a luxury you budget for regularly? H loves to play hockey. We save a little each month for his hockey leagues and tournaments he plays in throughout the year.
What is your current goal? How long should it take you? Save for my spring semester. We have $1,300 saved so we need another $1,700. Should be done on the 1st of December if we stay on track.
If you got a 20k raise tomorrow- what would you do with it? That would complete our baby bucket list! I would be thrilled. We would use it to finish up our goals and start TTC in June.
Love: March 2010 Marriage: July 2013 Debt Free: October 2014 TTC: May 2015
What is the biggest part of your budget?
Our mortgage
What is a luxury you budget for regularly?
Nails, hair, and eye brow threading. Its things I can do myself most of the time, but there's just some things I am willing to pay for, and feel good about myself.
What is your current goal? How long should it take you?
Pay off my car. Should be paid off under 2 years?
If you got a 20k raise tomorrow- what would you do with it?
Pay off my car, and put the rest towards the principal on our mortgage.
What is a luxury you budget for regularly? Dining Out
What is your current goal? November Goal: Track all spending, get $1,000 into our E-Fund How long should it take you? End of November ((we are very new to budgeting and fixing our life, so we are working on small goals))
If you got a 20k raise tomorrow- what would you do with it? Build our E-fund, pay off several debts MUCH faster
Savings and mortgage are about equal
What is a luxury you budget for regularly?
Eating out
What is your current goal? How long should it take you?
Baby fund and money for a belated honey moon to Iceland. We should have it by next October.
If you got a 20k raise tomorrow- what would you do with it?
Not going to lie...we would probably go to Turkey for New Years. Then we'd stock the baby fund and probably start saving for a possible home addition that we will probably need in 7-10 years.
1. Mortgage for sure, especially in total (we own two rental units in addition to our home)
2. Hmm, alcohol? LOL. We make our own wine but that means buying kits and materials in large batches. We also like to keep the bar stocked as we have company often. In terms of a true luxury, we're going to start saving for a hot tub soon.
3. Current goal is new windows for our home. That should actually be handled this week and next!
4. A substantial raise would get us the hot tub and go to additional savings - we own our own business so a large buffer and retirement savings is important. We would just make sure to max out all contributions (RRSPs, RESPs for the kids, TFSAs) for the year and if anything was left would pad short-term savings accounts (vacation, extra e-fund, etc.).
Currently mortgage, which is a nice change from a couple of months ago when it was child care.
What is a luxury you budget for regularly?
Food. We tend to buy organic and local and like some costly items like good cheese and almond butter. We also save more than a lot of people for travel, but most of that goes towards visiting family, so I don't really consider it a vacation fund.
What is your current goal? How long should it take you?
Figure out a better investment strategy for money that is not eligible for tax deferred retirement savings but is also not specifically earmarked for any shorter term savings goals. I'm hoping to finish this by the end of January. At least for me, it requires a fair bit of time to do research, which I have been having trouble finding.
If you got a 20k raise tomorrow- what would you do with it?
Put it in savings. Maybe use some of it for a trip with DH if/when he attends an international conference next year.
1. Mortgage for sure, especially in total (we own two rental units in addition to our home)
2. Hmm, alcohol? LOL. We make our own wine but that means buying kits and materials in large batches. We also like to keep the bar stocked as we have company often. In terms of a true luxury, we're going to start saving for a hot tub soon.
3. Current goal is new windows for our home. That should actually be handled this week and next!
4. A substantial raise would get us the hot tub and go to additional savings - we own our own business so a large buffer and retirement savings is important. We would just make sure to max out all contributions (RRSPs, RESPs for the kids, TFSAs) for the year and if anything was left would pad short-term savings accounts (vacation, extra e-fund, etc.).
Welcome!!
What is the biggest part of your budget? Definitely my mortgage, then after that my car payment
What is a luxury you budget for regularly? Eating out! I love it because I hate cooking and my food never tastes as good.
What is your current goal? How long should it take you? My main goal is to pay off my car it should be another 6 months or so.
If you got a 20k raise tomorrow- what would you do with it? I would pay off my car and school! Then take the left over $6K and buy new counter tops and put the rest in savings.
What is a luxury you budget for regularly? Yoga for myself and pedicures during the summer months
What is your current goal? How long should it take you? We need to replenish the emergency fund (almost 2k is needed) Unfortunately this is my slow season and we use the money I get for gigs to fund it so I'm hoping by Feb 2015 if nothing else comes up.
If you got a 20k raise tomorrow- what would you do with it? I would put 5k in our savings and the rest would go to finish off our basement.
What is the biggest part of your budget? Our biggest part is mortgage followed by student loans and retirement savings.
What is a luxury you budget for regularly? I would say eating out a few times a month.
What is your current goal? How long should it take you? Trying to balance paying off debt and doing necessary home repairs. We have to get a new roof and new outside paint next year.
If you got a 20k raise tomorrow- what would you do with it? I got a 10k raise the other month and currently I am trying to use it to pay off my credit card debt and to handle our normal year end expenses. After December, I will have to look harder at what I have extra and how to use it effectively knowing that we will have to borrow money for the roof and the outside paint job.
What is the biggest part of your budget?
Probably my car once you add up monthly payment, gas and insurance.
What is a luxury you budget for regularly?
I don't budget for it exactly, but I do love when there is "extra" money in my Personal Care envelope and I splurge on a Spa Treatment. (Just went Friday and it was AMAZING and feels so great to pay in cash that was already earmarked!)
What is your current goal? How long should it take you?
Right now my last goal for 2014 is to get what I owe on my car down to four figures. This will happen by the end of the year. I could do it today but there isn't much of a need and I'd rather pad my savings until then.
If you got a 20k raise tomorrow- what would you do with it?
Pay off my car, and quit my Frat Mom gig!
What is the biggest part of your budget?
Our mortgage, followed by savings
What is a luxury you budget for regularly?
Eating out. This is one of our favorite hobbies, haha.
What is your current goal? How long should it take you?
We are currently saving to build a front porch on our house. Estimates we've gotten so far are 15-20K. We will finance part of it with a line of credit we have, but I want to save as much as possible for a down payment. Aiming to get this done next spring/summer.
If you got a 20k raise tomorrow- what would you do with it?
Assuming our front porch project was already taken care of, I would max out my Roth IRA and the rest would probably go in our various savings funds.
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
What is a luxury you budget for regularly?
What is your current goal? How long should it take you?
If you got a 20k raise tomorrow- what would you do with it?
Save. I will need a new car soon though.