I was reading this article at Christian PF today and it occurred to me that I’ve never really talked about how Husband and I manage our finances. Really, I just assumed that you knew, seeing as how we are practically like family now.
It’s really the thing to do in the personal finance blogging world, because, after all, who wants to read financial advice from a lady who can’t even balance a checkbook. Yes, I could straight up lie to you, tell you I made millions in futures, commodities and other equally obtuse investments.
I’m not gonna lie. I’m basically Abraham Lincoln sans the beard right now.
We are a single-income family of two, have one debt – a military loan with basically a 0% interest rate (so, no real reason to pay it off early), no house, soon-to-be no cars, Roth IRA’s, 401k’s, and a few other vanilla investments.
We are boring.
What We Think We Do Well
Minimize Crap Buying – This is something that two anal-retentive, clutter-hating people are bound to do well. Our favorite tool for crap-minimization has been our separate “allowance” accounts; they make us think more about small purchases and put a cap on the amount of junk we could actually buy, even if we wanted to.
Pay Off Credit Cards Completely Every Month – I’m aware that anyone who knows anything about money management knows that this is a very basic rule. Well, we follow this rule very well and I want a gold star for it.
Maximizing Our Investment Contributions – Hubs contributes the full 5% that the Air Force matches to his Thrift Savings Plan (401k) and, when I had a job, I did too – free money! We also max our Roth IRA contributions every year (we’ve only been married a year and a half, but it’s a good start).
What We Need to Work On
EATING OUT! – I’ve written several blogs about this very topic and how it SUCKS the money from your bank account. We don’t regularly eat out very much, but since we’ve commenced our kitchen-less state of moving limbo, let’s just say we’ve kicked things up a notch.
Giving – We want to give more. Period.
Having Perspective – This is more ‘me’ than ‘we.’ I am a crazy budgeter and at times can be too narrowly focused on saving. I know that lots of little things can add up to one big thing and that fact at times causes me to be possessed by a crazy, cranky, miserly woman. It’s never pretty.
What We Worry About
A worthless dollar, job loss, zombie Apocalypse, things that everyone worries about.
I suppose one worry unique to us would be saving too much for ‘later’ and not enough for ‘now’. We subscribe to the balanced-life-wealth theory, meaning we want to have a good standard of living both now and later; as opposed to a great SoL now and low SoL later or vice versa.
We worry about having non-retirement investments that will allow us to play a little even before retirement (i.e. Husband’s airplane goal).
I’m aware that most people worry about saving enough for retirement. I worry about saving just for the sake of saving (which I’m prone to do), rather than saving with a purpose.
Article publié pour la première fois le 04/11/2010