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Crunching The Numbers Before Payday

July 8th, 2020 at 10:16 pm


Pay day is Friday, I sort of played around with the numbers and realized I will be saving about 34% of my income. Though most of this is sinking funds (e.g. HOA, mortgage, car insurance) it’s still a great feeling knowing I can save for these things.

After tallying what I’ll be adding to my challenge fund, my YTD will be $1532. I’m so excited about this. I had so many plans for this money when I first started, saving for my 50th, then it changed to paying off CC, now I’m teetering between a bedroom set and student loans.

My bedroom set was a hand me down, it’s over 20 years old and the drawers are actually falling apart, literally. I also need a new mattress but think I can hold off another year. However, a apart of me is saying screw the bedroom set and pay off the student loans. Maybe I can find a decent use set for $500 and throw the rest on the student loan. Either way I’m waiting until the last check in December and I make my last contribution before deciding.

By playing around with the budget I found some extra cash and I’ll be paying $150 on the student loans. That’s $707.02 towards my goal of a $1,000 for the month. Though I’ll meet my goal with the last check of the month, I really hope I get my tax return before the end of the month, so that I can throw the money on this student and that will take me over goal.

I’m happy that I’m able to make the payment but ticked off that this $1000 isn’t going towards retirement.

Posted in Debt, Goals, Budget | 6 Comments »

6 Responses to “Crunching The Numbers Before Payday ”

  1. Lots of Ideas Says:
    July 8th, 2020 at 11:25 pm 1594247142
    1594247142

    I’m not sure where you are in Florida, but near my dad there are some really nice used furniture stores.
    He always says that people moving to Florida should sell the stuff they have before they move and just buy pre owned when they get there. Of course, the mattress should be new, but dressers and night stands are well worth checking out used places to see what is available.
    Older stuff is often so much better made than what is available new now.
    Plus, looking is fun!

  2. Carol Says:
    July 8th, 2020 at 11:41 pm 1594248117
    1594248117

    I totally agree with "Lots of Ideas." You might even be able to find real wood!

  3. househopeful Says:
    July 9th, 2020 at 01:17 am 1594253833
    1594253833

    I agree with the used side tables, etc. I also have had real success finding pieces I like one at a time versus a whole set. Gives our bedroom character. I also try to stick to real wood - which can always be redone later to change the style/color, etc.

  4. crazyliblady Says:
    July 9th, 2020 at 02:10 am 1594257003
    1594257003

    That's awesome. Just remember that when you get your student loans paid off, you will have a lot more money to put into your retirement.

  5. crazyliblady Says:
    July 9th, 2020 at 02:15 am 1594257322
    1594257322

    I also advocate buying good used furniture. Most of the thrift stores and the like in my area are closed, but if you have access to any in your area, it could be worth a look.

  6. Butterscotch Says:
    July 9th, 2020 at 03:19 pm 1594304384
    1594304384

    Don’t put off a new mattress too long. You spend 1/3 of your life in bed and sleep is so important!

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