The Most Daunting “F” Word: FINANCES

Exactly one week ago, I told you about 2014 being MY Year of the “F” Word. A day later, I dove into “F” Word #1, and the meaning of it’s placement in my life in 2014. Next, I explained why I included The BIGGEST “F” Word of them ALL: FAMILY (because they are kind of a big deal). What next?

Disclaimer: As mentioned in my first post on the subject, my “F” Words are not listed in terms of relevance to me, and neither will they be explained in any particular order.

#3: Finances. Not something I ever thought I would have a hard time with. Ever.

I have been listening to the Dave Ramsey show in the car with my mom for years. I saved up as much money as I could prior to college so that I would have some spending money. I lived at my parents’ house following college for nearly 3 years to save enough money to move out while also being ahead. I should have thought more about the “saving money” part while there, because I didn’t come out with as much in savings as I anticipated.

Especially with a wedding coming up.

So, as you may have read in a number of my posts, I recently moved out of my parents’ home. And I have this wedding on the horizon. Timmykins and I are paying for it (for the most part) on our own. My parents have generously offered to help out, but I want to take care of it as much as possible. With his bonus being a little less than anticipated, and my not putting myself on a spending fast (as of yet), we aren’t quite where we want to be for the wedding…2 1/2 months out.

AND at this point, I won’t have that cushy nest egg when we are finished paying for this big ole shebang that I have right now, as my savings account became my wedding account.

Should I have stayed living with my family until the wedding? Probably. But I really wanted to live on my own for the first time in my life (if even just for a few fleeting months), I am getting a pretty good deal where I am staying because it is a good friend renting it to me, and now, Timmykins and I have a guaranteed place to live for after the wedding (at least until my friend moves home and wants his digs back, which is up in the air for now 🙂 ). Should I have gone on a spending fast way before now? Yes. But: CHRISTMAS.

I had a bit of a meltdown at marriage prep weekend this past weekend – not the place to have a meltdown – and hyperventilated going over how little I will be able to contribute to the wedding in my coming paychecks. So, I made a plan to put a specific amount of money directly into the wedding savings account every time I get paid, and to only pull money from that account for the wedding. When Timmykins and I mapped it out, we are going to be able to save just about the amount we need come wedding time. PHEW!

But then, what about AFTER the wedding?

This is my 2014 financial plan: Build & Maintain. Only, after March 21st, I must focus on two of us.

After the wedding, I will continue on a little spending fast (no impulse buying, eating healthy and not buying a bunch of snacks or fast food, keeping the bills down as much as possible) in order to:

A. Build the emergency nest egg back up 
B. Continue to pay off my student loans. I am officially announcing that I will have these paid off by December 2014 (I THINK I can, I KNOW I can).
C. Save up enough money to take a family trip abroad this summer (if my parents see fit) as well as honeymoon in the fall. Comfortably.
D. Keep Timmykins on track to save more than he spends
E. If we see fit, combine our checking accounts into one. Ahhh, married life 🙂

So, now that I have laid that out in front of me for the first time (thank you, readers, for the motivation!), I can more carefully plan, and DO! This “F” Word could constantly have me going “OH F***!!”, but with a little budgeting based on what I KNOW lies ahead, as well as all of the unknowns, I can keep my head on straight.

And so can you!

What are YOUR 2014 Financial Plans?

❤ The RoaminTwin

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2 thoughts on “The Most Daunting “F” Word: FINANCES

  1. You know that Dave would say to delay the family trip abroad until you have your debt paid off but I think you’re doing well. Mapping it out is a great start. We have been debt free (except the house & that is next) for a number years & love the feeling. Once you have changed from the spending mindset to a savers mindset, your really don’t go too far back. We CAN spend fairly freely now but I still coupon, bargain hunt etc. There are things that we would like to have & can certainly afford to buy but don’t because we still weigh the value of having it against the cost. Because of that mindset, our savings is growing faster than ever. You can do it!

    • Thanks for the comment and the motivation! I know what Dave would say…but if this is potentially our last immediate family vacation (with my brother going off to college in the fall, my getting married, and whatever my sister decides to do next), we are going to do something big. And I am OK with that. I have very little debt (just student loans) and have been ahead on those payments for quite some time, which is offering leniency in saving up for the wedding. And we are being as frugal as possible! I look forward to the day I can say I am completely debt free…it will just be delayed a little bit from my original plan 🙂 Does ANYTHING go according to plan?

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