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Archive for May, 2010

Month 9

May 31st, 2010 at 07:52 pm

We ended May with our debt total just under $80,000. I start working again next week. It will just be for a few months but will hopefully help us put another dent in our student loans. I'll have to pay a sitter this summer to watch the kids but it will still be extra money. Our oldest daughter Taylor has her birthday party on Friday.

We'll see what the month of June brings!

Month 8.5

May 17th, 2010 at 06:50 pm

Well, I've been a little out of the loop on here the last few months. Lots of life changes going on. We've made another trip back to VA to help my mother-in-law get ready for her move to Texas, we've continued homeschooling, and the biggest surprise is that we are going to have another baby! Our fourth and definitely last child will be born this November. As far as we know baby is healthy thus far. We should find out whether it's a boy or girl on June 11th, as long as he/she is willing to cooperate. With three girls already it's going to be interesting to find out if it's going to be a house full of little girls or whether my husband will have some company in the male department.

Here is an update on the financial side:

Emergency Fund: We depleted quite a bit of this with the travels to VA over the last few months. There is still roughly $3000 left.

Other Savings:
College Funds: $14,110
TSP $16,290
Roth IRA (me) $7,992

Total (including Emergency Fund) $41,392

That's it so far. I've made a few adjustments as far as contributions. We've up'd the TSP contributions to $486 per month and starting next month my IRA contributions will be $320 per month. One of the reasons we increased the TSP is to lower our taxable income because the money I've earned this year working has been as an independent contractor so we are trying to lower our taxable income.

I would like to set aside half of what I earn this summer towards the Emergency Fund as well. Hopefully this will happen.

Where the debt stands:

Credit Cards $1212
Sallie Mae $12,314
Dept. of Ed. $39,619
Cars $28,582
Total $81,727

My husband got a small bonus this month which helped push things along a little.

Another change is my sister has come to live with us. She will be 30 tomorrow. She has some learning disabilities and unemployed for the last 7 months. She lives with our parents but has come to stay with us and we are hoping she will find a job soon and in the fall we are going to try a few classes at the community college for her. She had one interview at Target last week and wasn't offered a job. We are turning in a few other applications tomorrow, hopefully with some better luck!

I haven't been working these last few months but I start back up the first week of June. I should have a job until the end of summer. I will pay my sister to watch our kids during this time which will hopefully help her and me.

We've enrolled our older two girls in a local charter school for the fall. With a new baby coming I'm afraid I won't be able to devote the time to homeschooling that I would like too. We've also decided to save on the cost of preschool for our three year old this fall and just keep her home. I did find one program that was $60 a month for one day (3 hours) that we may do. I'm just ready to be done with this. I know we have a long way to go but it feels good to be making some progress.

Anyways, enough rambling for now. I'm hoping to have a new budget posted in June and would love some feedback.