I am writing an unusual blog…for me, today. First of all, I’m posting on a Tuesday. Second of all, this will be more of a query than my usual style. But I think this topic is relevant for all my readers, whether they are parents or penny pinching poets. Today, I want to talk about the budget.
With so much current discussion surrounding balancing the federal budget and as we are, at least those of us in my SES, tightening our own belts, my husband and I were moved to take a closer look at our personal finances. After all, how can we expect the government to achieve balance and savings with billions if we do not get our own house in the tightest possible order?
My husband, M, and I have similar philosophies about money. We like to be debt-free, have a cushion for emergencies and for the future, but also have some freedom for fun built into the budget. We try to balance planning for the future (with it’s potential good and bad prospects) with living in the moment, and for the most part we are managing. But, as every perfectionist knows, you can always do better, right? So, right now, we are reviewing our monthly expenses (already tight without cable, Internet, and other frivolities) to try to find additional ways to save for our future and that of our daughter, V.
In thinking about possible ways to manage what few ducats we have after the bills are paid, we are considering a small contribution to a retirement fund, a college fund for V, and possibly saving for a down payment for a house. We have read different philosophies about how to go about doing this, and plan to meet with a financial advisor at our bank for additional perspective. What I’m curious to hear from my readers is what strategies you use to keep your house in order? After all, the more ideas on the table, the more dishes there are to choose from…
So if you are interested in sharing your success (or learning through failure) stories, please do! We’d love to know everything! From how much you budget for groceries, entertainment/eating out per month to what your priorities are for saving. If you have a helpful tip or reference, please share in the comment section and thanks in advance for your thoughts!