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Debts Paid Off & A Working Budget

August 16th, 2011 at 10:34 pm

Since last writing my husband's new job continues to go well. We are finally on his new insurance - good bye COBRA! And we know what his real take home will be now that we have benefits coming out. We made the controversial decision to withdraw my husband's 401k from his previous employer and pay off our car loan. It was a hard decision, but we feel good about it. We are sticking to just one car which lowered our car insurance by $30/month and saves on gas. My last student loan payment will be made in September which is $70/month. With all these changes, we estimate having an extra $175/month after expenses (and after contributing to my husband's new 401k) starting in October. This is so exciting, especially since I am no longer babysitting which brought in $800/month.

Our emergency fund is down to about $420 due to my son's surgery and preparing for baby (Baby #3 was due on the 14th, so he should come any day now) among other surprises. We expect the EF to be back to just under $1000 by the beginning of September though if I have calculated correctly and do not have any major surprises.

I am just so happy that my husband and I are now focused on the same goals and truly working towards them together. It feels so good to be united, even if we still have some differences of opinion when it comes to finances!

I will try to post more accurate numbers soon as well as the budget.

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