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Home > Financial Plan for 2009, Umpteenth version

Financial Plan for 2009, Umpteenth version

December 23rd, 2008 at 07:17 pm

Through February we will have mortgage and rent, 2 electric bills and 2 water/sewer bills.

Starting in March

Short term savings 75
IRA 200
CC#1 100
Student Loan 194
Electric/gas 100
Water 50
Car Insurance 66
PITI 1288
Gas 80
Internet 48
TV 38
Phone 70
Netflix 15
Groceries 300
Out to Eat and Fun Money 400
401(k) is pre tax up to matching

Expense Total 3024
Income Total 4800

Obviously there is a big difference there and we plan to save it so that our EF fund can go to a min of 5k at all times and to pay for all the repairs needed on the house. We are also using that money to pay off all the remaining 0% credit cards (there are 3 of these).

What this means is that besides paying off the credit cards, we will have a little less than 17k at the beginning of Jan 2010. Obviously some of this will get spent on the house. The rest will be used to max out the 2 Roth's and fill up the EF fund. DH plans on getting a new job next year sometime so I want as much flexibility in savings as possible.

If things go smoother than planned, then we can go back to the original plan of maxing out the 401(k) at his new place to up our retirement savings. Especially since I suspect any new position would entail a raise. My big issue is that if he really wants to switch jobs this year, I really want a decent EF in place. We have too much work on the house to do to be surviving just on my income.

And he is definitely in need of a job change. He wakes up dreading going to work and that is not healthy. Obviously that 17k assumes full employment all along so chances are we will end up with much less which is why I am trying to keep as much cash on hand as possible. Hopefully his job hunt goes well and he can find a new one prior to quitting his old. If not, I suspect that by fall he would need to quit and just job hunt.

This spring he plans on doing a self study to get a certificate that will make him more marketable so hopefully that will get him out into summer. I just hope he takes his time and finds a job he likes instead of settling like he did when he took this job.

1 Responses to “Financial Plan for 2009, Umpteenth version”

  1. homebody Says:
    1230081111

    Okay your title cracked me up. I need to do another version myself!

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